PYMNTS

JUNE 13, 2019

If it seems like cases of fraud and hacking are always in the news, that’s because new incidents pop up practically every day. According to the new Digital Fraud Tracker , total losses due to fraud equaled $4.2 trillion in 2018, and fraudulent mobile app transactions increased 680 percent between 2015 and 2018.

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PYMNTS

SEPTEMBER 4, 2018

What does the future hold for the plastic payment card? Or will cards with cutting-edge technology win more loyalty from shoppers? The payment card has “a long life ahead of it,” he told Karen Webster. Even if you consider technologies like mobile, you can see that the consumer is still paying with payment cards.”.

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PYMNTS

DECEMBER 3, 2018

According to a report in the Wall Street Journal citing cyber security specialists, the breach in which the personal information of as many as 500 million customers was exposed began in 2014, going undetected until September of 2018. A spokeswoman for Marriott said everyone involved would have preferred the incident was identified earlier.

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Cyber Security Security Cards Resources 122

Abrigo

MARCH 7, 2022

Experts weigh in on regulatory hot topics for 2022 Review these 10 insights into what regulators are looking for in 2022 to help your financial institution pass exams with flying colors. Takeaway 1 Regulators have increased their focus on BSA in the first quarter of 2022, and the crisis in Ukraine will put OFAC in the spotlight.

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PYMNTS

JUNE 7, 2019

Allied Wallet , an online payment provider and a client of Wirecard, settled with the Federal Trade Commission (FTC) last month over charges that it helped facilitate fraud and launder money, according to a report by the Financial Times. The relationship between the two entities lasted from 2013 to 2018. financial system.”.

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PYMNTS

OCTOBER 1, 2019

The global threat of fraud shows no signs of slowing down. Losses related to fraud are valued at $14.7 billion, according to the most recent DataVisor Fraud Index Report. As fraudsters become increasingly aggressive, new global regulations and solutions are being deployed to keep consumers, merchants and banks safe.

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PYMNTS

MAY 16, 2018

To that end, risk solutions firm Kroll partnered with Ethisphere to offer up the Anti-Bribery & Corruption Benchmarking Report of 2018. As GDPR takes effect late in the month, firms must be compliant with new rules and regulations. Two of them had allegedly taken the bulk of that amount, at 300,000 euros, from a Spanish company.

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PYMNTS

OCTOBER 2, 2019

In digital fraud news, new global regulations and solutions are being deployed to keep consumers, merchants and banks safe as fraudsters become more aggressive. 31.3B: Estimated value of global card losses due to fraud in 2018. 7.1B: Minimum number of EMV payment cards in circulation around the world.

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PYMNTS

JANUARY 25, 2019

The General Data Protection Regulation (GDPR), which went into effect May of 2018, has had some serious repercussions on tech companies all over Europe, but especially in the U.K. As soon as any customer makes us aware of fraudulent activity we immediately suspend their account to prevent further fraud.

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PYMNTS

JANUARY 31, 2020

We have deep dives into virtual card adoption and self-service technology, as well as a report on Kobe Bryant’s legacy. Bank Is Doing to Drive Virtual Card Adoption. Accounts payable (AP) professionals and vendors still have reservations about adopting virtual cards despite their many benefits.

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PYMNTS

JANUARY 10, 2020

The malware was able to collect data from people for nine months before it was detected, between July 2017 and April 2018. The penalty, though, would’ve been larger, had it occurred after the EU General Data Protection Regulation was passed in May 2018. Due to the breach, 5.6 It pledged to amp up its cybersecurity investments.

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PYMNTS

AUGUST 9, 2020

This will be done through a smart card, a credit card or cash at toll points across the country. Then the regulator clears the payment to be deposited to the nonexistent fund. The PFSA said it “would like to remind you that the cryptocurrency market in Poland is not a regulated or supervised market.

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blockchain Bitcoin New York cryptocurrency 224

FICO

DECEMBER 14, 2021

But European fraud and financial crime have continued to evolve. In the UK, Action Fraud reported several hundreds of cases of people receiving emails claiming to be from the NHS, offering them a vaccine passport, prompting them to click on a link and input their personal and financial details. Related scams have also been on the rise.

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PYMNTS

JULY 5, 2020

Ernst & Young , the company’s auditor, reported that from 2016 to 2018, Wirecard’s annual earnings nearly doubled to 439 million euros ($494 million). While the rest of the company’s divisions have been touted as highly-profitable, it now appears to be just a show, the report found. But such profits did not exist, the Times reported.

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Payments Cards America Report 170

FICO

FEBRUARY 28, 2018

But how can it best be used to fight application fraud? It was not much before Deep Blue, in 1992, that FICO pioneered the use of artificial intelligence and machine learning to fight credit card fraud. Fraud losses on US credit cards were reduced by over 70% since the introduction of FICO’s real-time anti-fraud analytics.

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Fraud Analytics Regulation Examples 69

PYMNTS

MAY 6, 2020

Financial fraud costs businesses an estimated $1.45 trillion, and it resulted in almost half of global organizations noting they were victims of fraud in 2018. This includes exploring emerging anti-fraud solutions and the challenges arising in this space as fraud grows more complex. One recent breach at U.S.

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PYMNTS

SEPTEMBER 11, 2019

Fraudsters have been increasingly focused on mobile services, with one-third of all fraud attacks worldwide reportedly targeting mobile during the first half of 2018 — a 24 percent year-over-year increase. Fighting Fraud Visibly and Invisibly. So, how can consumers be persuaded to take a chance on these new companies?

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PYMNTS

OCTOBER 18, 2016

businesses collectively facing fines of up to £122 billion in 2018. The regulator will be able to impose a stratospheric rise in penalties for security breaches, and it remains to be seen whether businesses facing these fines will be able to shoulder the costs,” said Jeremy King, director of PCI, in a statement. ”

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PYMNTS

OCTOBER 22, 2018

Fraudsters have found a new favored method for the holidays, the Sears’ bankruptcy filing finally came in and the major card networks found themselves on the wrong side of India’s emerging data privacy efforts. Gift Cards’ New Unfavorable Fans. As of September 2018, losses from gift-card fraud have hit $53 million.

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Data Fraud Cards Regulation 134

Accenture

FEBRUARY 28, 2017

Contactless card transactions in the UK will rise to between 6bn – 9bn txns in 2017, and 20bn – 30bn txns across Europe (compared to my forecasts a year ago of 3bn txns for UK and 9bn txns for Europe for 2016). Contactless and Mobile Payments. Real-time Payments Interbank Infrastructure. Transaction Banking.

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Payments Bitcoin Samsung Fraud 150

Accenture

FEBRUARY 28, 2017

Contactless card transactions in the UK will rise to between 6bn – 9bn txns in 2017, and 20bn – 30bn txns across Europe (compared to my forecasts a year ago of 3bn txns for UK and 9bn txns for Europe for 2016). Contactless and Mobile Payments. Real-time Payments Interbank Infrastructure. Transaction Banking.

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Payments Bitcoin Samsung Fraud 150

FICO

APRIL 18, 2018

FICO today unveiled several solution upgrades that will help banks, lenders, fintechs and other institutions fight fraud and financial crime. These solutions bring unparalleled efficiency and machine learning capabilities to fraud, risk and compliance professionals. FICO ® Card Compromise Manager 2.0

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Fraud Analytics Miami Florida 53

PYMNTS

NOVEMBER 22, 2019

Goldman CEO Denies Claims Of Apple Card Credit Biases. Politicians, as well as privacy advocates, have asked regulators to block the deal. Lawyer George Isaacson argued Wayfair’s side in the landmark 2018 South Dakota v. Moving Issuers — And Auth Rates — Past Fraud Prevention To Revenue Protection. Google’s $2.1

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South Dakota Apple Taxes Cards 101

PYMNTS

MARCH 7, 2019

Merchants and customers are now transacting under PSD2 and GDPR in the European Union (EU) — regulations that allow a greater window into how customer data is being used. While these regulations are aimed at increasing consumer trust by allowing them more transparency, many consumers in the region are still adjusting.

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Lending Regulation Regional Data 198

PYMNTS

DECEMBER 9, 2018

With retailers struggling to get compliant with the Payment Card Industry Data Security Standard , qualified security assessors are going to be in more demand and can offer tokenization as one way of achieving compliance. That’s according to TokenEx , which recently hosted a webinar to help retailers better understand tokenization.

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PYMNTS

JANUARY 1, 2019

Gerhard Oosthuizen, CTO of Entersekt , contributed the following piece as part of PYMNTS’ 2018 year-end eBook. Johnnies-come-lately were jumping aboard to set up mining rigs as fast as they could get their hands on graphics cards. The moment it got really serious, they said, the regulators would step in and kill it.

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PYMNTS

MAY 23, 2018

A February 2018 study from the Federal Reserve Bank of Minneapolis found that 75 percent of American financial institutions incurred losses due to fraud last year. The company recently debuted a new biometric payment card designed to enable customers to register their fingerprints without visiting a bank branch.

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PYMNTS

OCTOBER 30, 2020

billion of these payments in 2018 alone for a total of $97.04 Compliance with oversight laws, especially those involving anti-money laundering (AML) or know-your-customer (KYC) regulations, is a perennial struggle for FIs of all sizes. Cash payments are quickly falling to the wayside, with only 26 percent of all U.S.

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PYMNTS

JULY 3, 2017

The End of Excessive Card Surcharges. Good news for consumers: as of January 2018, that’s not going to be a thing anymore. A new law is going into effect that will prohibit agents from charging customers fees for using their credit or debit card. The Rise of CNP Fraud.

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Online Payments Fraud Cards 112

PYMNTS

OCTOBER 11, 2019

Member ING Bank was fined 775 million euros ($852 million USD) in 2018 for failing to prevent criminals from siphoning millions of euros through it over a six-year period, for example. Strong relationships with regulators have always been key to developing anti-crime strategies, especially as security needs evolve.

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PYMNTS

OCTOBER 16, 2020

million fine for lacking the proper security measures that might have prevented a hacker in 2018 from exposing the financial details of more than 400,000 customers, the U.K.'s The data breach involved customers’ names, addresses, payment cards and CVV numbers, as well as usernames and passwords of BA employee and administrator accounts.

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PYMNTS

JULY 8, 2019

Information Commissioner’s Office ( ICO ) has fined British Airways over £183m for a data breach involving the theft of more than half a million users’ data, including login info, card information, names, addresses and booking information, according to a report by The Guardian. The fine amounts to about 1.5

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Data Security Fraud Google 108

PYMNTS

JUNE 14, 2019

Coverage includes Visa’s new B2B push, new trackers and research on fraud and digital ID, Uber financial services and Mastercard’s biometric vision. Stripe has announced that Stripe Terminal , a set of SDKs, APIs, and pre-certified card readers that lets users accept in-person payments, is now available all over the United States.

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San Francisco Fraud United States Google 100

PYMNTS

JUNE 14, 2019

Coverage includes Visa’s new B2B push, new trackers and research on fraud and digital ID, Uber financial services and Mastercard’s biometric vision. Stripe has announced that Stripe Terminal , a set of SDKs, APIs, and pre-certified card readers that lets users accept in-person payments, is now available all over the United States.

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San Francisco Fraud United States Google 100

PYMNTS

JANUARY 22, 2019

Last year brought the General Data Protection Regulation (GDPR) deadline, Europe’s attempt to boost online privacy and security for consumers — a law that just resulted in a $57 million fine against Google , which was accused of not doing enough to gain the consent of users when collecting data meant for targeted advertising. 70 percent.

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Payments Regulation Security Data 195

PYMNTS

JANUARY 29, 2019

Will Tom Brady turn in his jersey after the game for an AARP card and hit the celebrity golf circuit? In May 2018, the Supreme Court struck down a 1992 law passed by Congress that made it illegal for most states to legalize sports betting within their borders. It all comes down to security, authentication and fraud prevention.

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PYMNTS

JULY 25, 2017

Protecting digital identities is all about keeping up — keeping up with new technology, new regulations and, of course, bad actors. . Microsoft, for one, partnered with biometric technology provider Fingerprint Cards to debut a new keyboard with a fingerprint sensor built into an otherwise ordinary-looking key.

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