Chris Skinner

OCTOBER 21, 2018

Things we’re reading today include … Global banks curb China travel after UBS banker stopped from leaving Goldman Sachs changes Asia investment banking leadership: memo Ex-Deutsche trader charged in rate-rigging case Lloyd’s warns of ‘crippling’ insurance crisis leaving emerging economies vulnerable Serious Fraud Office (..)

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Chris Skinner

MARCH 15, 2018

Things we’re reading today include … City watchdog warns lenders to prepare for ‘rough weather’ ahead Coutts star banker in sexual harassment claims Penny pitching European commission rebuked over ex-chief’s Goldman Sachs job Payment fraud: Millions lost in money transfer trick HSBC pays women 60pc less than men in the (..)

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PYMNTS

JULY 9, 2020

Banks have been facing a concerning rise in account takeover (ATO) attacks targeting their customers, with financial institutions (FIs) losses due to such schemes rising 72 percent from 2018 to 2019. The July FI Fraud Decisioning Playbook examines how FIs are working to better detect and defend against ATOs.

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Chris Skinner

DECEMBER 17, 2018

Things we’re reading today include … Bank CFOs Are Embracing The Digital Future Malta To Get A Blockchain Bank Ex-president of only bank charged with fraud in US crisis bailout program gets 6 years prison Bank of England could include climate change impact in UK stress tests next year If … The post Things worth reading: 18th December (..)

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Chris Skinner

JUNE 6, 2018

Things we’re reading today include … Ex-Anglo Irish Bank chief convicted of fraud Wells Fargo isn’t the only bank with fake accounts, regulators say Buffett, Dimon say quarterly profit forecasts harming economy: WSJ TSB says 1,300 people lost money through fraud since IT meltdown – as it happened The world’s … The (..)

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Chris Skinner

FEBRUARY 18, 2018

billion Indian bank fraud that went unnoticed A crucial … The post Things worth reading: 19th February 2018 appeared first on Chris Skinner's blog.

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Chris Skinner

APRIL 22, 2018

Things we’re reading today include … Zelle, the Banks’ Answer to Venmo, Proves Vulnerable to Fraud Bank of England ‘dangerously ill-equipped’ for next recession, says IPPR Barclays boss Jes Staley faces £1m hit after hunt for whistleblower Mifid II rules failing investors, warns City veteran TSB customers report online problems (..)

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PYMNTS

FEBRUARY 9, 2020

In 2017 and 2018, by comparison, the various schemes and fraudulent activity was $3 billion combined. PlusToken, according to those familiar with the matter, was a Ponzi scheme where the site was able to draw around $2 million total out of investors located in South Korea and China from 2018 to early 2019.

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Chris Skinner

SEPTEMBER 27, 2018

regulator sues Musk for fraud, seeks to remove him from Tesla Goldman, JPMorgan, four others … The post Things worth reading: 28th September 2018 appeared first on Chris Skinner's blog. Brexit watch – experts debate data | Andrew Sentance and David Blanchflower U.S.

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Chris Skinner

MAY 17, 2018

Things we’re reading today include … TSB customers complain about fraud alert failures Banks abandon interest-only home loans amid FCA scrutiny of ‘mortgage prisoners’ Germany most likely to win the World Cup, say UBS number-crunchers Expensive remittances Defusing mortgage timebomb ‘like Space Invaders’ PayPal acquires (..)

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Chris Skinner

JULY 4, 2018

Things we’re reading today include … Lloyds agrees to give MPs report into what it knew about HBOS Reading fraud Top bankers accused of avoiding responsibility for stopping money laundering City of London struggles to unite on post-Brexit regulation Exclusive: China presses Europe for anti-U.S.

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Chris Skinner

MARCH 8, 2018

Shining a light on it is just the start | Nicky Morgan Tesco Bank cancels customers’ credit cards after suspected fraud – what to look out for ompanies with more female executives make more money, Bank of … The post Things worth reading: 9th March 2018 appeared first on Chris Skinner's blog.

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Chris Skinner

APRIL 3, 2018

Things we’re reading today include … Jeweler to the Stars Flees as India Seethes Over Bank Fraud A Top JPMorgan Blockchain Executive Is Leaving the Bank Canada’s TD Bank Wants US Patent for Blockchain Point-of-Sale System Commonwealth Bank online glitch wipes ‘credit card balances’ Bank of America says Facebook is … The (..)

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Chris Skinner

APRIL 2, 2018

Things we’re reading today include … Five Key Players at the Heart of Deutsche Bank’s Drama Japan’s Central Bank Wants You to Be Wary of Cryptocurrencies Bank wins ruling against ‘cybersquatter’ who demanded £100,000 for domain name Indian banks reported at least one fraud every hour in 2017 UBS nominates … The post (..)

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Chris Skinner

JUNE 20, 2018

Things we’re reading today include … Lloyds under pressure as HBOS fraud report is published Number of global millionaires hits 18.1

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Chris Skinner

JANUARY 21, 2018

Why do banks take different approaches to fraud? City hiring to rumble on despite Brexit as Bitcoin boom creates jobs Customers can go hang at RBS, where profit is the only motive | Kevin McKenna US … The post Things worth reading: 22nd January 2018 appeared first on Chris Skinner's blog.

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PYMNTS

FEBRUARY 13, 2019

Merchants saw a drop in card-present fraud due to the increased adoption of Europay, Mastercard and Visa (EMV) chip cards, Visa said. Merchants who have upgraded to chip technology saw a decrease of 80 percent in counterfeit fraud dollars in September of 2018 when compared to September of 2015. More than 3.1 million in Dec.

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PYMNTS

NOVEMBER 10, 2020

PSCU , which is billed as the nation's premier credit union service organization (CUSO), has announced its new Enhanced Fraud Services system, which the company said “has helped 10 early adopter credit unions combat fraud of all types, ranging from first-party chargeback fraud to identifying card information being sold on the dark web.”.

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PYMNTS

NOVEMBER 17, 2020

The number of real-time payments has risen dramatically in recent years, and APP fraud has grown alongside it. Bad actors typically perpetrate APP fraud in several ways. APP Fraud Ramps Up. Instances of APP fraud around the globe have continued to rise as real-time payment rails extend their reach.

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PYMNTS

APRIL 10, 2019

While corporates are adopting stronger internal controls to combat the threat of payments fraud, new data from the Association for Financial Professionals (AFP) reveals the number of incidents has continued to climb to new heights. ” . ”

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PYMNTS

APRIL 7, 2020

The 2020 Association for Financial Professionals (AFP) Payments Fraud and Control Survey underwritten by JPMorgan found that business email compromise (BEC) was the most noted origin of tried or actual fraud incidents in 2019, according to an announcement. Results noted a bit of a rise in ACH credit fraud.

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PYMNTS

JANUARY 14, 2021

Commerzbank has told lawyers that the bank was a victim of fraud in the ongoing Wirecard case, Reuters reported Thursday (Jan. Commerzbank Chief Risk Officer Marcus Chromik told a parliamentary committee that the bank agreed to extend credit to Wirecard in 2018, based on assurances about the company's prospects.

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PYMNTS

NOVEMBER 25, 2018

Venmo , the digital money transfer service owned by PayPal , suffered payments fraud earlier in 2018 that played a role in the company posting losses that were higher than forecasted for the first quarter of this year. While that helps reduce fraud, the WSJ noted that real users were also impacted when their transactions were declined.

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PYMNTS

MAY 12, 2020

An internal investigation into alleged fraud at Luckin Coffee Inc. In addition, the company has placed six other employees on suspension or leave due to involvement in or knowledge of the fraud. Cao has served as senior vice president in charge of store operations and customer service since 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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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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PYMNTS

MAY 30, 2019

counterfeit fraud, measured in dollars for these card present transactions, has dropped precipitously. The latest stats show that the continued upgrade to chip card acceptance – which began in 2015 – has led to a decrease in counterfeit fraud dollars on the order of 76 percent, as measured in December of 2018 vs. September of 2015.

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PYMNTS

APRIL 14, 2019

million customers who were the victims of an online fraud scam. bank to say it will cover customers from online fraud losses. Such fraud reportedly impacted one in four U.K. Such fraud reportedly impacted one in four U.K. The bank’s pledge also comes as data released last week showed financial fraud against U.K.

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PYMNTS

FEBRUARY 19, 2020

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. Bottom line: Fraud losses are expected to hit $48 billion annually by 2023 – more than double the 2018 losses. Sealing It.

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PYMNTS

APRIL 26, 2019

billion in 2018. According to Threatpost, Ronnie Tokazowski, senior threat researcher at Agari , said, “For trends that we’re seeing, actors have been asking for gift cards instead of wire fraud, but still engage with wire fraud as well. Actors usually get around 70 percent of the face value of the card in bitcoin.”. In Ireland.

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PYMNTS

DECEMBER 23, 2019

Cybercriminals are finding it best to approach fraud with an omnichannel strategy , which involves hitting every customer service channel for best results. At the same time, however, online platforms are aiming to protect their users as fraud mounts. 89 percent: Year-over-year increase in loyalty program fraud between 2018 and 2019.

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PYMNTS

FEBRUARY 23, 2020

In one major example in 2018, Frank Krasovec, the chairman of Dash Brands, owner of Domino’s Pizza franchises in China, lost $450,000 when a fraudster intercepted his email. Krasovec is now suing the Dallas, Texas bank, maintaining that PlainsCapital didn’t have anti-fraud protocols in place. billion in 2018. Close to $1.8

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PYMNTS

JANUARY 17, 2020

An uptick in check fraud has financial institutions considering whether they should update methods and stop using checks, according to a report Wednesday (Jan. Check fraud, or the attempt to perpetrate it, has gone up from $8.5 billion in 2018. Also, it makes up 60 percent of all attempted fraud against U.S.

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PYMNTS

APRIL 8, 2019

An Israeli startup that creates anti-fraud services that deal with online transactions wants to raise $200 million for expansion, according to a report in Bloomberg. Fraud is becoming an increasingly more common problem in the eCommerce sector, and is estimated to cost merchants about $130 billion over the next five years. “At

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PYMNTS

OCTOBER 8, 2018

They’ve tried to clarify some of their emphases — we know that cryptocurrency fraud is an issue, manipulation, insider trading is an issue, and they’re very focused on spoofing,” said Gary DeWaal, special counsel at Katten Muchin Rosenman and a former CFTC enforcement lawyer. Total fines ordered through SEC enforcement activity fell 7.2

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PYMNTS

DECEMBER 26, 2018

The following piece was written by Rob Eleveld, CEO of Whitepages Pro , as a contribution to our 2018 year-end eBook. . Payments 2018 was a year of accelerated disruption. Smart use of verification data ensures that risk models can streamline good customer experience, fight fraud and evolve with the times.

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PYMNTS

AUGUST 19, 2019

We are seeing gangs involved in drug trafficking and firearms offenses turning to fraud, targeting victims across the U.K. These criminals are exploiting new technologies to commit fraud, posting adverts on social media to try and recruit money mules,” he said. Fraud that was in turn prevented by the unit amounted to as much as $8.2

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