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. Then came checks, credit cards and wire transfers, with the most recent market explosion in several digital payment options. Historically, cash was king.

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PYMNTS

JANUARY 3, 2019

A new study has revealed that retailers will lose around $130 billion in digital CNP (Card-not-Present) fraud between 2018 and 2023. A layered FDP (Fraud Detection & Prevention) solution naturally helps directly preventing fraud, but it also offers major gains in terms of recovering potentially lost revenue through false positives.

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PYMNTS

NOVEMBER 26, 2019

Buguroo, a Spanish cybersecurity company, uses biometrics tied to behavior and deep learning processes to root out fraud. Buguroo looks not only for new account fraud (NAF), but also fraud that is perpetrated when someone gains access to the system using stolen credentials.

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PYMNTS

MARCH 25, 2019

A new report has revealed that invoice fraud cost U.K. Invoice fraud happens when criminals pose as a regular supplier and make a request for their bank account information to be changed, usually via email. Invoice fraud could happen to businesses of all sizes. Even tech giants can be hit with invoice fraud.

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PYMNTS

JULY 2, 2020

As scrutiny over Wirecard and EY continue to grow, a broader debate is seeing a resurgence over what role, if any, auditors play in identifying and preventing corporate fraud. Fraud Concerns Arise. It wasn’t the first time the company’s financials came under scrutiny either. ” Swift Blowback. .

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PYMNTS

FEBRUARY 4, 2020

RELX will acquire Arizona-based Emailage for $480 million in the former’s push to establish a footprint in the fraud prevention market, according to Financial Times (FT). Before that, in 2018, it acquired ThreatMetrix — a digital identity firm that tracks around 1.2 billion in 2018.

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PYMNTS

DECEMBER 18, 2018

18) that it achieved 342 percent sales growth in 2018 compared with 2017 and that it has a four-year growth rate of 3,857 percent. In a press release, Onfido said 2018 was a landmark year for the company which not only enjoyed strong growth but named key members to its senior team and won accolades from within the industry.

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PYMNTS

FEBRUARY 4, 2019

4) that the fraud was also perpetrated on other British banks. Of those customers impacted by this type of fraud, an extremely small number have been Metro Bank customers and none have been left out of pocket as a result,” a bank spokesperson said. The bank said on Monday (Feb.

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PYMNTS

MARCH 11, 2020

Fines related to noncompliance increased 160 percent between September 2018 and December 2019, in fact. FIs in the United Arab Emirates are also looking to get ahead of fraud with improved digital KYC practices. Taking A Local Approach To Fighting Money Laundering, Fraud Worldwide. Find the full story in the Tracker.

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PYMNTS

SEPTEMBER 24, 2018

Perhaps more troubling, however, is digital fraud’s projected future. Recently published research noted global fraud losses could top $6 billion by 2021, more than doubling the $3 billion lost worldwide in 2015. As such, businesses are now investing in their security and fraud prevention technology and solutions. All told, U.S.

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PYMNTS

DECEMBER 24, 2018

Themes emerged, some frightening – as when it comes to getting a sense of the impact of payments fraud – and some hopeful, as evidenced in, say, businesses finally moving toward killing the check. And, as of now and looking ahead, among the more prevalent criminal methods focused on business, according to Divitt: new relationship fraud.

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PYMNTS

JANUARY 30, 2020

As faster and real-time payment schemes achieve ubiquity in more markets around the globe, speed is increasingly becoming the standard for payers of all kinds. This new reality isn’t without its challenges for financial services providers, however, with security and fraud mitigation among the largest concerns.

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PYMNTS

SEPTEMBER 19, 2019

This has become a larger problem for FIs as they must not only deal with protecting customers from fraud, but also guard against bad actors armed with 4.1 Account opening fraud is a favorite tactic among such cybercriminals, many of whom rely on these credentials to pose as legitimate customers. billion stolen credentials.

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PYMNTS

SEPTEMBER 3, 2019

Experts estimate that total fraud losses in 2018 totaled $3.9 Fraud takes many forms, from account takeover attacks to identity theft. But ad fraud might be one of the most insidious types. Some estimates range as high as $42 billion, because ad fraud is tricky to measure. Types of Ad Fraud.

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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. For example, Marriott , Facebook and a database marketing firm by the name of Exactis exposed the records of roughly 300 million people.

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PYMNTS

NOVEMBER 24, 2020

The implosion of major payments player Wirecard AG amid a multibillion-dollar fraud scandal has spurred an overhaul of Germany’s top stock index. The index also plans to expand its membership – whose collective market value now stands at $1.2 Owner of the DAX-30 index, Deutsche Börse AG announced on Tuesday (Nov.

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PYMNTS

FEBRUARY 28, 2019

Socure, the provider of identity verification and fraud prevention services, announced Thursday (Feb. market sectors that are in need of accurate, automated identity verification technology, including healthcare and the public sector,” Socure CEO Tom Thimot said in the press release. 28) it raised $30 million in Series C funding.

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PYMNTS

JANUARY 17, 2020

In today’s top news, China’s economy grew by its slowest rate since 1990, Alphabet reached $1 trillion market value, and attempted check fraud spiked 43 percent. Alphabet Market Cap Hits $1T. Google’s parent company, Alphabet, reached $1 trillion market value, joining Apple, Amazon and Microsoft in hitting the milestone.

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Abrigo

DECEMBER 17, 2019

The expected outcome of greater inventory at a lower cost, as we have seen in prior years, is an increase in fraud activity and cyberattacks heading into the end of the calendar year. Another popular category in the underground is account markets. One of the most important links in the chain of e-commerce fraud is the “mule”.

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PYMNTS

MARCH 12, 2020

Payment processors expanding their operations into new industries and markets have their work cut out for them, however. Each sector and country encounters different fraud types that providers must be ready to detect and thwart. Attuning To New Markets . Understanding The Merchant Sector.

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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. My Predictions for 2018. Payment Apps Proliferate.

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Fraud Payments Cards social media 55

South State Correspondent

MAY 13, 2024

The major themes of fraud, artificial intelligence (AI), expansion of instant payments, open banking, and regulation were particularly relevant to your roles as executives, risk managers, compliance officers, and technology leaders. Unfortunately, most banks don’t gather fraud data across payment channels or track “pre-crime events.”

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PYMNTS

JUNE 24, 2020

Within days, Braun, 50, was arrested on charges of accounting fraud and market manipulation. The Netherlands accounting firm said it was unable to conclude whether revenues booked from three partner processing companies ever existed for 2016, 2017 or 2018, CNBC reported. billion euros ($2.1 Wirecard declined to comment.

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Bobsguide

MARCH 30, 2020

In 2016, the global fraud detection market was valued by Allied Marked Research at $13.6bn. Fast forward to today: according to Fortune Business Insight, the global market for anti-fraud solutions will grow from $19.3bn in 2018 to $110bn in 2026. The growth is exponential, and the banking,

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PYMNTS

JANUARY 24, 2021

The crimes that ended up driving the change in 2020 were scams and the darknet market, the blog's stats report. in January of 2018, and after that, an underground operation emerged, in which the yen were exchanged for other digital currencies on a dark website. More stats show that scams netted around $2.6

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PYMNTS

OCTOBER 29, 2018

There may come a day, a generation or two from now, when stories about the data breaches and other hacking threats faced by payments and commerce operators in 2018 seem quaint — or, at the least, like relatively primitive foreshadowing of a new type of digital criminality. It’s already happening, of course, albeit tentatively.

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PYMNTS

JANUARY 31, 2019

NACHA recently released new figures on ACH network volume, revealing earlier this week that Same-Day ACH volume grew 46 percent between Q4 2017 and Q4 2018, surpassing 50 million transactions for the first time. Accelerated payments are taking off in several markets around the world, and NACHA’s latest figures demonstrate U.S.

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PYMNTS

DECEMBER 12, 2019

The new division was launched with the aim of integrating advanced technology and the regulation of China’s securities markets, enabling precise data analytics. From August 2017 to April 2018, Eyal and his company allegedly conducted a fraudulent unregistered securities offering by selling Shopin Tokens in an ICO. .

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Bitcoin Fraud Regulation social media 131

PYMNTS

SEPTEMBER 7, 2018

But with the power of faster payments comes the potential for faster fraud. billion: The estimated global value of the blockchain market by 2024. 21 million: The number of same-day ACH transactions processed in Q2 2018. 5,700: The number of credit unions that use CO-OP.

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Fraud Data Payments blockchain 104

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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Branding Cards Fraud Marketing 100

Abrigo

APRIL 18, 2022

However, today it is still a relatively new market that does not have mainstream usage within the United States. The industry's most significant market increase was between 2016 and 2018. It experienced a downward correction from 2018 to 2019, sometimes referred to as the "crypto winter." Fraud Prevention.

cryptocurrency 195

cryptocurrency Fraud United States Leadership 195

PYMNTS

AUGUST 29, 2019

Digital fraud continues to be one of the most pressing issues that marketplaces face today. Experts estimate that total fraud losses in 2018 totaled $3.9 Developments Around The Digital Fraud World. Businesses are turning to a variety of solutions to fight fraud, including leveraging blockchain technology.

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FICO

SEPTEMBER 16, 2020

While 2020 has posed new challenges in fraud, our new European Card Fraud Map shows that many countries were battling card fraud successfully last year — with the UK leading the pack. Whilst data compromises drove up card fraud in the UK in 2018, they were not at the same scale and ferocity as 2019.

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Fraud Cards Study System 52

Gonzobanker

NOVEMBER 28, 2017

In our travels, certain payments-related messages have surfaced over and over, and as we enter 2018, bankers need to pay attention to these five themes: 1 – Debit: In 2018, market forces will take 3% of banks’ current interchange income. 24 this year), and 2018 won’t be any different. Good grief, we’re in 2017.

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Insights on Business

JUNE 18, 2018

Below are just a few of the sessions surrounding IBM Banking and Financial technologies you won’t want to miss at SIFMA 2018. This session will also be a great opportunity to hear how early adopters have benefited by increasing their commercial efficiency, operational transparency, regulatory rigor and reducing fraud, delays, and paperwork.

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Conference Fintech blockchain Compliance 70

Insights on Business

FEBRUARY 11, 2019

According to recent information from Juniper Research , online payment fraud losses from e-commerce, airline ticketing, and money transfer and banking services are expected to reach $48 billion by 2023, more than double the $22 billion in losses estimated for 2018. Synthetic identities and new account fraud.

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Fraud Payments Data Study 111

Insights on Business

MARCH 19, 2018

– Saket Sinha, IBM Vice President & Partner, Banking & Financial Markets. To a maximum capacity audience and kicking off an exciting week of IBM Think 2018 in Las Vegas, IBM VP Saket Sinha led the “Intelligent Automation in Financial Services” breakout session. ” IBM leads the way in intelligent automation.

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