PYMNTS

DECEMBER 17, 2020

Digital fraud is a long-running problem for merchants, retailers, banks and businesses of all types. Account takeovers and shipping fraud increased by 347 percent and 391 percent, respectively, between 2018 and 2019, and the pandemic has only exacerbated these issues. Developments From The World Of Digital Fraud.

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PYMNTS

FEBRUARY 19, 2020

In they went, stealing details of 30 million cards before the malware was discovered in December of 2019. card number. What’s clear is that fraud decisioning solutions have never been more necessary, as cybercrime enters a new phase of sophistication, diabolical creativity and global scale. Sealing It.

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PYMNTS

JANUARY 31, 2020

A 2018 survey found that 40 percent of American financial institution (FI) customers in this age bracket reported debit cards as their go-to payment instruments, while 36 percent favored credit cards. These organizations need to fend off anything threatening, combatting both popular and emerging debit fraud attack methods.

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Abrigo

DECEMBER 10, 2019

Elder financial exploitation and elder fraud are rising at an alarming rate as they continue to be serious crimes in the United States. An increase in financial crime and fraud against the elderly is expected to continue to climb as the baby boom population (those born before 1964) age. The under-reported and growing crime.

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FICO

APRIL 29, 2022

There’s a lot going on in the retail payments space – defined as transactions between two consumers, between consumers and businesses, or between two businesses. With any change, fraud comes hand-in-hand. All these evolutions mean a changing landscape for retail fraud and scam trends.

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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

DECEMBER 22, 2020

Italian consumers are embracing a new government program aimed at boosting retail sales while tamping down on tax evasion that allows buyers to receive a 10% refund on card payments made in stores. By offering the incentive, they hope to cut down on black market deals and fraud, according to The Financial Times.

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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

NOVEMBER 15, 2018

New data shows a projected 14 percent increase in fraud attempts during the upcoming 2018 holiday season — with fraud likely to peak on Thanksgiving Day. The first step to fighting fraud is knowing what you’re up against,” Erika Dietrich, global director of payments risk at ACI Worldwide, said in a press release. “The

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PYMNTS

JULY 5, 2020

Federal workers, through partnerships with several online retailers, will now be able to purchase equipment like desks or office supplies through an eCommerce network for the first time, The Washington Post reports. The GSA is estimated to spend around $6 billion per year on open market credit card purchases.

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PYMNTS

OCTOBER 5, 2020

Retailers must protect customers’ card data from hackers who try to snatch payment details, and following best practices to ensure security requires adhering to the regulations established by the PCI SSC, a global payments industry forum. This is a sharp decline from 2018, when 42 percent of such providers said the same.

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PYMNTS

JULY 24, 2019

In the latest Digital Fraud Tracker , PYMNTS examines how fraudsters are utilizing mobile and app-based channels for fraud attacks, as well as why fraudsters are still relying on phishing as a major fraud strategy even as they increase their use of new technologies and techniques. Around the Digital Fraud World.

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PYMNTS

JANUARY 30, 2020

Widely publicized data breaches and hacks have made today’s consumers especially concerned about fraud. Cautious shoppers may find comfort in debit, with fraud losses associated with the payment method declining over the past several years. Card fraud is an ever-present threat. Around The Next-Gen Debit World.

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PYMNTS

DECEMBER 31, 2018

According to the report, cybercrime touched nearly every sector throughout 2018, including those that may seem less obvious, like education or manufacturing — and for one obvious reason: the money. Facebook’s 2018 regarding the stewardship of user data and privacy was one it would like to soon forget. Fitness Hacks.

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PYMNTS

MARCH 12, 2020

Providers serving a wide array of businesses have access to more card or customer data than individual merchants, meaning they may be more able to flag individuals showing signs of fraudulent or unusual behavior. . Each sector and country encounters different fraud types that providers must be ready to detect and thwart.

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PYMNTS

JANUARY 4, 2019

It’s no surprise that payments fraud is on the rise. Juniper Research , for example, has estimated that retailers will lose as much as $130 billion in card-not-present (CNP) fraud through 2023 — as tech gets more complex and transactions are done across borders. Thus, she had banking and credit card information.

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PYMNTS

OCTOBER 14, 2019

In an effort to grow usage of its Android smartphones in Brazil, Google has introduced a debit card payment program through Google Pay. Reuters is reporting that the company is making the move because many online retailers in Brazil only accept credit cards due to a preponderance of fraud. .

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PYMNTS

JULY 21, 2017

If a data breach is a sprint — where a fraudster grabs as much data as he or she can, as quickly as possible, in an effort to maximize ill-gotten gains — the fight against fraud is a marathon. Fraud varies country to country, region to region. Europe may offer a tell on the fraud to come. A marathon that never ends.

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PYMNTS

SEPTEMBER 14, 2020

Friendly fraud has been on the rise for years, with customers contacting their banks to falsely assert that their credit cards have been used online for unauthorized purchases. Undeserved chargebacks are no trivial issue, either, as the number of such false claims rose 41 percent between 2016 and 2018.

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PYMNTS

DECEMBER 8, 2019

At stake could be nothing less than merchant reputation and revenue as eCommerce continues to take up a bigger part of retail. The problem extends beyond retail into an area such as healthcare, where personal information can be even more sensitive. It’s fairly new,” Dhawan said of this particular fraud and hacking threat.

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PYMNTS

JANUARY 8, 2020

billion per year in incremental growth between 2018 and 2023. Credit card payments are increasingly enabled via EMV chips rather than magnetic stripes, but these methods frequently suffer from a lack of diligent digital identity verification. EMV Cards Face Crucial Verification Security Gaps.

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PYMNTS

OCTOBER 14, 2019

In an effort to grow usage of its Android smartphones in Brazil, Google has introduced a debit card payment program through Google Pay. Reuters is reporting that the company is making the move because many online retailers in Brazil only accept credit cards due to a preponderance of fraud. .

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FICO

DECEMBER 19, 2017

Just as the Wild Card Round is followed by the Divisional Round in the NFL playoffs , fraud and payments predictions are always followed by New Year’s resolutions. Sure enough, wallets among fraud and payments professionals had already dropped some poundage. His wallet was a few cards lighter as a result.

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PYMNTS

JANUARY 2, 2019

The holiday sales season is nearly done for 2018, and it’s so far so good — particularly for eCommerce. But will 2018’s strong seasonal spending portend a happy commerce new year for retailers? 2,225: The amount bridge millennials spend on average each year on retail purchases.

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PYMNTS

FEBRUARY 26, 2020

Software developer and Ukrainian native Volodymyr Kvashuk, 25, from Renton, Washington, worked for Microsoft from 2016 to 2018, and was tasked with testing Microsoft’s online retail sales platform. He took advantage of that access to steal currency stored value (CSV) such as digital gift cards that he then resold on the internet. .

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PYMNTS

JANUARY 9, 2020

The shift from magnetic stripe to EMV chip cards marked one of the 21 st century’s most widespread payment developments. Chip cards have been heralded for their improved functionality and security, but they have still failed to address critical authentication problems, leaving retailers to bear the brunt of these vulnerabilities.

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PYMNTS

MAY 27, 2020

Account takeovers (ATOs) rose 347 percent from 2018 to 2019 — a problem that will only worsen if financial institutions (FIs) are not vigilant. The May FI Fraud Decisioning Playbook examines the issue of omnichannel fraud and the strategies that banks and CUs are using to detect and thwart it.

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PYMNTS

FEBRUARY 19, 2019

Account takeovers are becoming bigger business for criminals — or, at least, the business of preventing account takeovers in the digital retail and payments realm is becoming an increasing focus of companies and security experts. Fraud Prevention Innovation. Fraud Case Study. Castle, founded in 2015, said it has raised $9.2

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FICO

NOVEMBER 20, 2019

That is how UBS Card Center, which processes some 25% of card transactions in Switzerland, keeps fraud rates down and cardholders happy. And for the past 20 years, UBS have been using the FICO® Falcon® Platform and working in partnership with fraud experts from FICO. This has led to continual improvements in results.

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PYMNTS

APRIL 1, 2020

billion non-prepaid debit card transactions in 2018, solidifying debit as a staple payment type. They insert or swipe their debit cards at stores’ point-of-sale (POS) devices — or key in details online — and maybe enter PINs, but the behind-the-scenes processes through which transactions are routed are kept invisible.

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PYMNTS

OCTOBER 15, 2019

Data from more than 26 million credit and debit cards was stolen from BriansClub, an underground marketplace for stolen credit card information, KrebsOnSecurity reported Tuesday (Oct. The hacked records were lifted from online portals as well as brick-and-mortar retailers over the past four years. million card records for sale.

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PYMNTS

JUNE 19, 2016

On the EMV front, Home Depot decided it felt strongly enough about Chip and PIN that that it sue MasterCard and Visa over it.Walmart Canada decided it would stop accepting Visa cards since they say they are too expensive. And according the the Atlanta-based building supplies retailer, that flaw is putting both customers and retailers at risk.

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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

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. And in retail, pizza’s popularity constitutes a driving force for ongoing innovation in the sector, while EMV’s delay has been the convenience store’s gain. .

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PYMNTS

JULY 11, 2018

Another retailer has been hit with a data breach. This time, Macy’s has revealed that hackers obtained names and passwords of online customers — and might have accessed credit card numbers and expiration dates. While personal data including birthdates may have been accessed, the retailer said that social security numbers were not.

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Data Cards Online Retail 101

PYMNTS

AUGUST 28, 2019

Retailers seeking to provide rapid deliveries face an ever-moving target as consumers’ definition of speed evolves. This method allows consumers to use retailers’ websites or apps to browse, select and pay for items, after which they then visit physical stores to collect their goods. Quick Access and Impulses. Tractor Supply Co.

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PYMNTS

SEPTEMBER 3, 2018

Since we would hate for anyone to go into the end of 2018 behind the eight ball, we decided to pay tribute to both a great bit and a great deal of news with our own top 10 list of the biggest news of summer 2018. It is not an exaggeration to say that 2018 has been the summer of movie subscription service MoviePass ’ discontent.

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