PYMNTS

JUNE 14, 2019

Many of the headlines centered on payments fraud have focused on the damage done to smaller suppliers and vendors, especially in the U.K. But beyond the now-familiar conduits of fraud done across email or through fake invoices, some lures have come through ties with cryptocurrencies. The scheme took place over three years.

Fraud 128

Fraud Payments blockchain cryptocurrency 128

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. Positive earning profit is also known as EBITDA, earnings before interest, tax, depreciation and amortization. Owner of the DAX-30 index, Deutsche Börse AG announced on Tuesday (Nov.

Fraud 148

Fraud Exercises Taxes Report 148

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.

Fraud 255

Fraud Online Retail Examples 255

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. 2015, online fraud is forecast to explode from an estimated $3.1 billion in 2018 — an increase of more than 100 percent.

Fraud 109

Fraud Taxes Retail Tools 109

PYMNTS

MARCH 14, 2019

Unfortunately, the report found, recent tax reform in the U.S. tax reform to provide a significant benefit, nearly half said in 2019 that there has been no significant impact on their companies at all. Only 15 percent said tax reform boosted their total income, while 12 percent said financial performance has improved.

Fraud 115

Fraud Survey Taxes Regulation 115

PYMNTS

AUGUST 2, 2019

Data storage firm Seagate revealed that it has moved its anti-fraud blockchain project with IBM into the pilot stage. Launched in 2018, the project monitors products sent via several steps to the customer, including product returns, to prevent counterfeit drives from being sent back.

blockchain 148

blockchain Fraud Data Report 148

PYMNTS

FEBRUARY 10, 2020

billion, and have dropped 84 percent since 2018, down to less than $560 million. Crypto Fraud Scores More Than $4B In 2019. billion in 2019, much larger than the $3 billion incurred in 2017 and 2018 combined. Amazon (And Others) Brace For India’s New eCommerce Tax. Chinese Tech Investments In US Plummet.

US 142

US Taxes Millennials Payments 142

FICO

DECEMBER 12, 2017

Looking ahead to 2018, I predict a rising trend for organizations to do four things better than today in the realm of financial crime. Today fraud prevention, cybersecurity and anti-money laundering (AML) are still siloed at many financial institutions. Automate the Search for Tax Evasion. Take a More Holistic Approach.

Compliance 55

Compliance Taxes Fraud Trends 55

PYMNTS

AUGUST 17, 2018

To that end, a finance platform based in Switzerland, Advanon, has grappled with fraud, as reported by p2p-banking.com. The invoices were then financed by 78 private investors – and the fraud resulted in ill-gotten gains worth about two million euros. 1 of 2013 and the end of March 2018.

Fraud 100

Fraud Payments Wisconsin social media 100

PYMNTS

DECEMBER 23, 2019

Egypt is readying an electronic invoicing mandate for consumers to pay their taxes, an initiative that reports said will eventually expand to standardize invoicing in government procurement processes. Reports in Zawya on Monday (Dec. Reports in Zawya on Monday (Dec.

Taxes 130

Taxes Conference System Mobile 130

The Paypers

NOVEMBER 7, 2018

(The Paypers) As per the Indiana Department of Revenue , identity theft prevention programs have helped halt the improper payments involving taxes in 2018.

Taxes 28

Taxes Indiana Fraud Payments 28

PYMNTS

JANUARY 23, 2020

State agencies handle disbursements for property refunds, public programs, taxes and more, and many are still clinging to paper checks as part of their processes, even as they adopt ACH or direct debit payments. The same is true for business entities on other tax programs. We’ve already adopted direct deposit.

Oregon 131

Oregon Tennessee Texas US 131

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.

Cards 188

Cards Payments Taxes Study 188

PYMNTS

MAY 21, 2020

The new Preventing Financial Crimes Playbook explores the latest financial crime developments, including a rise in financial fraud related to the ongoing COVID-19 pandemic, new threats targeting digital payment apps and guidance from PNC Financial Services on how multilayered defense systems can help curb the tide of digital scams.

Fraud 131

Fraud Tools Training Taxes 131

PYMNTS

JANUARY 24, 2020

Government disbursements can range from child support payments and annual tax returns to pension and retirement fund payouts. The IRS has accepted digitally filed tax documents and issued digital refunds for years, and it received approximately 29 million electronic returns via direct deposit between February 2018 and February 2019.

Payments 130

Payments US Fraud Innovation 130

PYMNTS

MARCH 9, 2020

The FBI has once again sounded the alarm on the proliferation of digital fraud like ransomware and the business email compromise (BEC) scam, releasing new stats on the financial damage such criminal activity has caused in the U.S. 3 individuals were arrested in India for an invoice fraud scam , according to CNBCTV reports this week.

San Diego 141

San Diego Fraud New York Report 141

FICO

MAY 25, 2017

million digital records exposed the dark deeds of dirty money and tax evasion and burst the bubble of pretense that the world is effective at dealing with corruption. One in five banks in Asia Pacific say that they expect tax evasion to increase 100 to 500 percent over last year’s levels according to a recent poll by FICO.

Taxes 40

Taxes Survey Compliance Regional 40

PYMNTS

MARCH 12, 2019

In addition, the problem of fraudulent tax returns could keep growing as digital processes come to the tax-filing-and-return space. 172 billion: The value of peer-to-peer (P2P) transfers consumers made via their bank accounts in 2018. billion : The amount of theft, at a minimum, caused by fraudulent tax returns in 2016.

Taxes 122

Taxes Regional Data Mobile 122

PYMNTS

NOVEMBER 22, 2019

Lawyer George Isaacson argued Wayfair’s side in the landmark 2018 South Dakota v. Isaacson has watched remote sales tax policies unfold since that time in a flurry of new laws that differ by state, and even municipality. Moving Issuers — And Auth Rates — Past Fraud Prevention To Revenue Protection. Wayfair case.

South Dakota 101

South Dakota Apple Taxes Cards 101

PYMNTS

JANUARY 27, 2020

In 2018, one laughable incident involved the U.S. billion worth of government checks in 2018 at an average cost of $2.50 More states are starting to use recurring digital payments as the means by which tax refunds and other government monies are paid out. Not all states feel the same. Illinois printed and mailed $1.3

Payments 130

Payments Illinois Texas Tennessee 130

PYMNTS

FEBRUARY 21, 2020

trillion by 2020, but new sales channels also invite emerging fraud forms. More than $1 trillion is expected to be spent on cybersecurity solutions worldwide between 2017 and 2021 as companies address the need for protections and make major investments in digital fraud-fighting techniques. The Sizable Online Fraud Threat.

Customer Experience 152

Customer Experience Fraud Millennials Security 152

PYMNTS

JANUARY 22, 2020

Headquartered in Galway, Ireland, Planet offers 400,000-plus sellers and 100 partner banks payments services and tax refunds. Planet rival Adyen, listed in Amsterdam in 2018, is supported by General Atlantic and Temasek. Eurazeo acquired NASDAQ-listed Planet in 2017 for a €109 million investment through Fintrax Group.

Taxes 131

Taxes Payments Fraud Groups 131

FICO

AUGUST 12, 2019

Child identity fraud is an alarmingly large and growing problem. . A 2018 report released by Javelin Strategy & Research found that more than one million children were victims of identity fraud in 2017. As I’ve blogged about previously, synthetic identity fraud is rampant , and fraudsters are growing ever-more sophisticated.

Fraud 40

Fraud How To Resources Report 40

PYMNTS

DECEMBER 9, 2020

Before moving over to Duetsche Bank in 2018, Loetscher had previously been in charge of auditing Wirecard at EY, where he worked for over 20 years. 9) that it had reviewed an email to Deutsch Bank staff announcing that Brigitte Bomm, global head of tax, would replace Loetscher effective immediately. The FT reported Wednesday (Dec.

Leadership 151

Leadership Taxes Report Payments 151

PYMNTS

JANUARY 8, 2018

Credit Karma said yes to early tax refunds for consumers – for free. Good Tax Lending Karma. Good news for consumers avidly awaiting their tax refund for 2018: Credit Karma Tax is rolling out a new product call Earlybird Advance, an online refund advance service. And that was just Tuesday.

Taxes 105

Taxes Data Louisiana Colorado 105

PYMNTS

JULY 22, 2019

KeyBank’s Costly Payroll Fraud Problem . Regional banking force KeyCorp disclosed a massive fraud that could potentially cost as much as $90 million – according to reporting out of CNBC last week. A loss for KeyCorp – but by far not the weeks’ biggest, or most explosive case of fraud. Starting with.

Data 100

Data Security Fraud Indiana 100

PYMNTS

FEBRUARY 22, 2019

Internal Revenue Service (IRS) said that ahead of tax season, preparers and other victims received requests to change direct deposit activity. News comes this week from Mississippi that state workers are being targeted by similar fraud attempts. In December, the U.S. The IRS cited “spoofed” addresses that seemed official.

Mississippi 135

Mississippi Minnesota Fraud Report 135

PYMNTS

DECEMBER 28, 2018

The Big KYC Trend From 2018. “Banks now hold a major responsibility under the threat of strict penalties to identify all business owners, big and small when opening an account — to analyze their financial history, citizenship, potential for money laundering, past involvement in fraud, and more before opening up an account. .

Compliance 186

Compliance Regulation blockchain Taxes 186

PYMNTS

FEBRUARY 2, 2018

tax laws had on other firms recently reporting results, Mastercard put up numbers Thursday (Feb. Excluding the aforementioned tax impact, earnings per share came in at $1.14, two pennies better than Wall Street expectations. As for its own tax savings, the company will use at least part of the money to boost financial inclusion.

Taxes 100

Taxes cryptocurrency Regional Branding 100

Abrigo

JUNE 10, 2020

Consider outsourcing BSA/AML work as one option in order to remain compliant and meet short-term needs for alert or case-monitoring to address seasonal issues, such as tax season, or employee issues, such as a leave of absence. When the OCC terminated a consent order related to the AML program in December 2018, U.S. Fraud Prevention.

Resources 195

Resources Regulation Compliance Policies 195

PYMNTS

SEPTEMBER 12, 2019

The latest AMC/KYC Tracker examines current efforts to stop money laundering, fight fraud and improve customer identity authentication in the financial services space. Between 2008 and 2018, approximately $26 billion worth of fines were levied against banks for AML, KYC and sanctions noncompliance. The Cost of Compliance.

cryptocurrency 116

cryptocurrency Regulation Compliance blockchain 116

PYMNTS

MARCH 6, 2019

Citing analysis from the Edelman Trust Barometer, the report noted that 2018 saw the largest-ever decline in public trust in businesses and government, and it’s causing significant financial losses in the form of stock devaluation, lost business and more. .” In the U.K., In the U.S.,

Report 139

Report Leadership Regulation California 139

PYMNTS

OCTOBER 22, 2018

The report excluded data on shop-at-home purchases and includes information about frauds reportedly directly to the FTC between January and September of this year. In all, losses to this emerging and increasingly occurring form of fraud reached $40 million in 2017, doubling the $20 million in losses reported 2015.

Data 134

Data Fraud Cards Regulation 134

PYMNTS

JANUARY 27, 2020

Indeed, when it comes to younger consumers these days, eSports are reportedly on the rise (including with high school students), and are even prime part of plans to revive retail malls and to collect more states taxes , as PYMNTS has covered. games — have reached the six-figure threshold in private sales.”.

Video 226

Video Trends New York Report 226

PYMNTS

SEPTEMBER 21, 2018

percent between 2018 and 2025, a number of local governments are adopting the technology to accept fines and taxes more easily. With the global speech-based interactive voice response (IVR) software market predicted to rise at a compound annual growth rate (CAGR) of 12.1

Trends 152

Trends Security Technology Training 152

CFPB Monitor

JULY 6, 2021

The Priorities, listed according to FinCEN “[i]n no particular order,” are as follows: Corruption; Cybercrime; Domestic and international terrorist financing; Fraud; Transnational criminal organizations; Drug trafficking organizations; Human trafficking and human smuggling; and. The Priorities and Their Utility. Proliferation financing.

United States 78

United States Fraud Regulation Compliance 78

PYMNTS

JUNE 13, 2019

Experiencing such gains comes with risks, however, as digital IDs have presented new and underexplored avenues for fraud. billion digital records in the United States were compromised during the first half of 2018 – 291 records every second – with only six social media breaches accounting for more than half of all at-risk data.

Security 129

Security blockchain San Francisco United States 129