PYMNTS

AUGUST 8, 2019

The verification and authentication processes of many sharing economy platforms are poorly equipped to combat the growing risk of fraud. In technology news, smartwatches and wearables are among the hottest areas of digital commerce and payments. 45 million: Number of global smartwatch shipments in the year 2018.

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PYMNTS

AUGUST 19, 2019

Aided by technology – and emboldened by the rise of cryptocurrencies – fraudsters are stepping up ransomware campaigns. Gary Robinson, who serves as head of DCPCU, said that online conduits are gaining favor from fraudsters to further their schemes. “We Fraud that was in turn prevented by the unit amounted to as much as $8.2

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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

NOVEMBER 26, 2018

Call centers are facing the potential of fraud from inside and outside their facilities, and they are taking multi-pronged approaches to tackle these security challenges. At the same time, experts say that fraudsters will be busy this holiday season, and will be particularly active on online marketplaces. history.

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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. The solution to this complexity is cutting-edge technology that can keep pace with modern transformation: machine learning.

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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.

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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

DECEMBER 10, 2020

TSYS , a payment processing company, has suffered a ransomware attack and had some data posted online, according to a report from Krebs on Security. Conti reportedly said the legacy system hit this time was Cayan, which was acquired by TSYS in 2018 and helps to enable payments in stores, on mobile and through eCommerce.

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PYMNTS

JANUARY 19, 2021

Fraudsters have unfortunately also carefully followed this payment trend, with skimming, prepaid card and ATM fraud all seeing upticks recently — especially in regard to debit transactions. Another study indicated that debit-related fraud is on the rise across the U.S. Around The Next-Gen Debit World. The report noted that U.S.

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PYMNTS

SEPTEMBER 21, 2018

They are buying fraud tutorials and data from other criminals online. The 2018 holiday shopping season has already started for people and organizations bent on fraud. The 2018 holiday shopping season has already started for people and organizations bent on fraud. Fraud Headstart. Fraud Focus.

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PYMNTS

SEPTEMBER 26, 2019

TSB is teaming up with Mastercard’s Vocalink to roll out a solution to help prevent fraud and payment mix-ups, Vocalink announced in a press release on Thursday (Sept. There were 84,624 incidents of Authorized Push Payment (APP) fraud in the U.K. in 2018 totaling £354.3 Such fraud reportedly impacted one in four U.K.

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PYMNTS

JUNE 20, 2019

Retailers focused on combating fraud have credit cards in the cross-hairs of their efforts. But ramping up the war on card fraud can introduce a new risk to companies: false positives. This isn’t merely an issue for the B2C world, however. The False Positive Threat.

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PYMNTS

NOVEMBER 19, 2019

The fact that fraud is on the rise is not new, nor is it surprising that banks are turning to artificial intelligence (AI) and machine learning to fight back. In the latest Digital Banking Tracker , PYMNTS looks at how banks are currently approaching their use of AI and machine learning in fraud protection and technology innovation.

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PYMNTS

APRIL 16, 2020

Not only do industry giants have innate name recognition, but they also have colossal advertising budgets and access to cutting-edge mobile ordering technology and features that small operations cannot match. Bad actors are taking advantage of the chaos and bringing about an upswing in digital fraud. Fighting Fraud.

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PYMNTS

JANUARY 9, 2019

Retailers raked in more than $850 billion during the 2018 holiday season, marking the fastest holiday retail sales growth seen in the past six years. Luxury retailers have been slower to move online than some other retailers, but the impact of online sales in this industry can already be seen.

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PYMNTS

SEPTEMBER 30, 2019

Online Resale. Online resale has become all the rage — even for retailers like Neiman Marcus — from a little bit of everything on OfferUp to fashion-focused Poshmark and high-end The RealReal and 1stdibs. Sales of counterfeit goods through online marketplaces are expected to hit $1.8 billion per year to fake online sales.

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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

JUNE 7, 2019

consumers can now access same-day ACH, so the technology is there. The rise in online shopping means more shoppers needing refunds on returned merchandise. Twenty-five to 30 percent of online orders are returned, three times higher than physical purchases. On the other hand, almost all (95 percent) of U.S. Many Happy Returns.

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PYMNTS

JANUARY 29, 2019

For payments and commerce , there’s another uncertainty that hangs in the air: Will legal online sports betting keep going forward, despite a recent decision by the U.S. First, a review and update about the online sports gambling situation in the U.S. Now, at least eight states have some form of legal online sports betting.

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PYMNTS

MAY 25, 2016

Radial , an omnichannel and fraud solutions provider, is promising to take away merchant woes with a suite of solutions, which it says improves order conversion rates and helps eliminate fraud. With the introduction of EMV chip technology in Oct. 2015, online fraud is forecast to explode from an estimated $3.1

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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. Memory Technology. mainstreaming of chip implants.

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PYMNTS

NOVEMBER 6, 2019

When it comes to fighting fraud, it’s not really what you know – not exactly, at least. It’s what you don’t know, and how you go about finding those gaps and putting up defenses via better data and new technology. Fraud is big business, with online losses topping some $14.7 New vs. Old Fraud. Big Business.

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PYMNTS

DECEMBER 12, 2019

The China Securities Regulatory Commission , China’s security watchdog, is setting up a technology regulation bureau and will announce Yao Qian as its new department chief, the Chinese business publication Caijing said on Wednesday (Dec. 11), as reported by Coindesk. Yao was the head of China’s central bank digital currency initiative. .

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PYMNTS

JULY 17, 2018

What if they were able to better secure consumers as well as their online payment and ID data — which, in turn, would protect companies from the reputational and financial costs that follow breaches and hacks? To understand what AI and robots can do with online security, one must first understand that it’s all about the rules.

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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

JULY 13, 2020

Many customers have grown accustomed to virtual tours and online onboarding processes and may not wish to return to paper-based or manual methods. One study showed that 44 percent of individuals in 2018 began their house-hunting journeys by looking up potential properties online before contacting real estate professionals.

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PYMNTS

SEPTEMBER 17, 2020

which is based in Nevada, purportedly provides online retailers with fraud detection and prevention technology, according to the statement. “As Rogas allegedly changed the company’s bank statements from at least 2018 up to June of this year to indicate millions in client payments. 17) statement.

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Insights on Business

MARCH 19, 2018

“Intelligent automation allows business and technology to function together for a common goal instead of against working against one another.”. 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.

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PYMNTS

JULY 3, 2017

Even in the quiet seasons, the online travel market is susceptible to the trade winds, and they don’t always blow in agents’ favor. It can be buffeted dramatically by shifts in the global economy, emerging technologies and even factors as arbitrary as the weather. The Rise of CNP Fraud. Consumer Protection.

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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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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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PYMNTS

APRIL 1, 2020

Credit unions (CUs), as much as other financial entities, are seeing a boom in competition as banking moves to online and mobile channels. Customers today expect to be able to access financial services instantly, which can put pressure on CUs that need to stretch restricted technology budgets into innovative new features.

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PYMNTS

NOVEMBER 16, 2016

‘Tis the season … to be very, very wary of phishing and other types of fraud. Black Friday and Cyber Monday sales continue to increase year over year — while some project online holiday sales at $98 billion, new estimates from the National Retail Foundation project that this year’s online holiday sales could reach $117 billion.

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PYMNTS

AUGUST 10, 2020

Identity fraud is nothing to play around with, but you wouldn’t know that given its prevalence in the online gaming sector. Three out of four American consumers are now interacting with gaming platforms, spending up to 14 hours a week on them — up from 12 hours in 2018. billion in revenues and engage 2.7 Gaming the System.

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Insights on Business

AUGUST 10, 2018

Given IBM’s experiences helping clients accelerate their digital transformation journey with Cloud and AI, we’re particularly excited that “Enabling the digital economy” is the Sibos 2018 conference theme. IBM at Sibos 2018. Stay tuned for more blogs on Sibos 2018! Jim Brill, IBM Financial Services Marketing.

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PYMNTS

JANUARY 31, 2019

Instead, a deeper understanding of fraud — down to its genetic outline — is needed to be truly effective in fighting it. Fighting fraud is often a group effort, as can be seen in several global markets. In the UAE, for instance, a group of banks recently banded together to crack down on acts of check-related fraud.

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PYMNTS

JULY 23, 2019

In April 2018, the RBI set a six-month deadline for payment firms to comply with data localization. . The Hyderabad center, PayPal’s third technology center in India, will focus on data science, risk management and machine learning to help businesses protect themselves from fraud.

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