PYMNTS

DECEMBER 18, 2020

This revenue free fall could result in 100,000 restaurants nationwide closing either temporarily or permanently, with 40 percent of all restaurant operators unsure whether they can survive six months into the future. The Fraud Threats Of 2020. Lessons For 2021 And Beyond.

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PYMNTS

NOVEMBER 17, 2020

Will 2021 Be The Year Of Bot? Given the increased digitization brought about by COVID-19 and the surge in online shopping, it’s probably no surprise that Sevounts is concerned about bots — but optimistic about solutions. He said 2021 “is going to see very much accelerated bot behavior — both bad bots and good bots.”

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PYMNTS

OCTOBER 9, 2020

Brick-and-mortar commerce has rebounded in recent months, but consumers are still heading online for many of their purchases, maintaining trends set in the early months of the pandemic. billion consumers will be shopping primarily through digital channels by 2021 — representing a $6.5 trillion opportunity for eCommerce retailers.

Fraud 188

Fraud Retail Report Online 188

Independent Banker

NOVEMBER 30, 2021

As more customers moved online, fraudsters took advantage of new and increasingly inventive opportunities to commit remote authentication fraud. These types of scams fall under the broad term of remote authentication fraud, and they’re increasingly common—and inventive. Examples of remote authentication fraud. Online U.S.

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PYMNTS

JANUARY 18, 2021

People in general are more aware of — and concerned about — fraud as we pass through a second season of COVID, and eCommerce continues to rack up impressive stats, good and bad. New threats are evolving all the time,” KP Brendel, director of marketplace operations at online thrift and consignment storefront Swap.com, told PYMNTS. “New

Fraud 144

Fraud Security Study Retail 144

PYMNTS

OCTOBER 14, 2020

Consumers around the globe appear to support these integrations with a recent report finding that 71 percent of QSR customers are in favor of their favorite eateries incorporating AI into their business operations. Some players in the food service industry are tapping advanced technologies to improve and streamline their ordering operations.

Analytics 161

Analytics Fraud Data Mobile 161

PYMNTS

FEBRUARY 3, 2020

Losses due to false credit and debit card declines — in which merchants reject legitimate orders on the mistaken belief that they are fraudulent — grew to $118 billion last year and are projected to reach $443 billion by 2021. Fraud And The Problem Of Convenience. How Banks Are Responding To Fraud Concerns.

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PYMNTS

MARCH 11, 2020

Companies are already anticipating the sixth edition of that regulation, which will go into effect in 2021 when it is expected to increase the severity of money laundering penalties as well as better ensure that individual perpetrators do not evade personal responsibility for their crimes. Download the Tracker to read the Feature Story.

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Fraud Payments Guidelines Regulation 150

FICO

JANUARY 19, 2022

From TBML to BNPL to NFTs, 2021 found fraud and financial crime professionals dealing with a plethora of new challenges and criminal schemes. Our five most popular posts of the year dealt with trade-based money laundering, non-fungible tokens, buy now pay later scams, courier scams and good old credit card fraud.

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Fraud Cards Report Analytics 52

Abrigo

JANUARY 31, 2023

Takeaway 2 Banks should be proactive in understanding fraud trends and FinCEN priorities to prepare for future rulemaking. Beneficial ownership registry The AMLA was signed into effect in January 2021, paving the way for the first major BSA reform since the PATRIOT Act and encouraging a culture of compliance. That represents nearly 2.8

Fraud 195

Fraud Training Regulation Trends 195

Abrigo

JANUARY 3, 2024

While many think of trade, commerce, and cultural exchange when considering this region, ignoring the undertow of illicit activities is impossible—the border remains a hotspot for drug trafficking, illegal arms trade, human trafficking, and smuggling operations, necessitating vigilant scrutiny and transaction monitoring within the U.S.

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PYMNTS

DECEMBER 16, 2020

And then, after the transaction is made, there’s the task of understanding the byzantine codes and data that are tied to online statements. The “language” of the statements may represent a Rosetta Stone of sorts for the 110 million consumers who have pivoted online in the wake of the pandemic. The Scope Of The Problem.

Retail 228

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FICO

OCTOBER 7, 2022

Buy Now, Pay Later: BNPL Fraud and Regulatory Update. Buy now, pay later or BNPL financing is experiencing tremendous growth, but that growth can bring potential growing pains like fraud and regulatory scrutiny. As payments professionals well know, change creates opportunities for fraud. In December 2021, the U.S.

Fraud 52

Fraud South Carolina San Francisco Regulation 52

FICO

MAY 27, 2021

A Dozen Top Achievers in 2021. Earlier this year we provided a list of the winning companies in our 2021 FICO® Decisions Awards. Many of our award winners rose to the task with new solutions and capabilities built on analytic decisioning investments that helped them to pivot to new operating models and constraints.

Analytics 52

Analytics Fraud Management America 52

FICO

NOVEMBER 8, 2022

Strong Fraud Protection Could Draw More Customers - Survey. Fraud protection is now firmly on the radar for consumers and has risen substantially as a deciding factor - it could even be a competitive advantage for banks. In the UK, trade bodies have called for fraud levels to be considered a national security threat.

Fraud 52

Fraud Survey Security eBook 52

FICO

JULY 5, 2023

billion, according to CFCA’s 2021 Fraud Loss Survey Report. Subscription fraud can be a symptom of or gateway to other frauds. Here are five other ways crooks use subscription fraud to commit crimes against customers and service providers, with advice on how to stop them.

Fraud 52

Fraud How To Survey Analytics 52

FICO

DECEMBER 14, 2021

2021 saw the world settling into a new normal with heightened expectations of digital experiences. But European fraud and financial crime have continued to evolve. Last year we predicted that scams would become the leading fraud type in 2021, and the most recent research from UK Finance confirmed it.

Fraud 52

Fraud Management Data Trends 52

FICO

APRIL 5, 2022

Itaú Unibanco, the largest private sector financial institution in Latin America, has migrated its fraud management and customer communication to the cloud, helping it to avoid over USD$20M a month in fraud losses. We processed more than 3 billion transactions in 2021. Customer engagement is key. percent availability.

Fraud 52

Fraud Management Risk Management Customer Experience 52

PYMNTS

JANUARY 19, 2021

What if close to half of all companies surveyed said productivity during COVID-19 work-from-home (WFH) orders is actually rising, as more business is conducted efficiently online and less time goes into commutation or gets siphoned off by sundry other office intrusions? Well, they’ve said it. billion in 2020 alone.”.

Fraud 151

Fraud Survey Video Mobile 151

Insights on Business

NOVEMBER 22, 2017

The same technology that has helped change the world of payments has also fueled fraud complexity, requiring an increasingly sophisticated anti-fraud response – payments fraud has become a €20Bn ($23Bn) worldwide problem for financial institutions while the fraud detection and prevention market will be worth €28.49Bn ($33.19Bn) by 2021 [1].

Fraud 125

Fraud Payments Innovation Industry 125

FICO

MAY 19, 2021

What Is First-Party Fraud? From banks to telcos to debt collection agencies, what looks like unrecoverable bad debt may in fact be first-party fraud. For many people, the word “fraud” evokes images of shadowy criminals using stolen identities and purloined credit card information to commit financial crimes. by Matt Cox.

Fraud 52

Fraud Groups Analytics Compliance 52

PYMNTS

SEPTEMBER 23, 2020

million in 2021 as indoor restaurant dining spaces reopen and consumers venture out to eat again. Those include an anticipated wave of chargebacks from friendly fraud, and more serious cybercrime intrusions that also come with the sudden expansion of digital commerce. percent to 45.6 This total could dip to 44.1 Chargeback Hazard.

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Mobile New York City Fraud New York 245

Abrigo

JANUARY 13, 2023

million in 2021. According to the Homeland Security Operational Analysis Center , human smuggling along the southwest border generates an estimated $2-$6 billion in annual revenue. . How human smugglers operate. But thanks to social media, smugglers are able to reach a broader pool of migrants online. Fraud Prevention.

social media 195

social media Training San Antonio National 195

FICO

MAY 19, 2021

For many people, the word “fraud” evokes images of shadowy criminals using stolen identities and purloined credit card information to commit financial crimes. Perhaps surprisingly, consumers sometimes use their own personal information to commit fraud. Both of these crimes are first-party fraud.

Fraud 52

Fraud Groups Analytics Compliance 52

PYMNTS

NOVEMBER 30, 2020

And while on its own it would be a challenge, the trouble really begins when consumers start “crying wolf” about porch piracy to commit refund fraud , which as of 2020 is happening en masse. The Refund Fraud Boom — And Using Data To Curb It. “It’s easy, it’s obvious and it takes literally zero brains to pull off in this environment.”.

Fraud 204

Fraud Policies Data Retail 204

FICO

JANUARY 28, 2022

Just as Black Friday and Cyber Monday drive peak volumes in retail sales, both in stores and online, they also drive peak volumes for FICO. We continue to mature our operational processes and insulate our customers from issues through design, resiliency, and improved monitoring and alerting. Read about the FICO Platform. by FICO.

America 52

America Fraud Analytics Retail 52

PYMNTS

DECEMBER 22, 2020

According to Reuters , around 10% of Italy’s adults, or at least 5 million consumers, have enrolled in the pilot program, which involves registering online and downloading an app. By offering the incentive, they hope to cut down on black market deals and fraud, according to The Financial Times. The program, which began on Dec.

Cards 188

Cards Payments Taxes Study 188

PYMNTS

AUGUST 28, 2019

The statements were contained in the PBOC’s FinTech Development Plan 2019-2021. Beyond the confines of Europe, Cryptix , a blockchain service provider based in Zug, Switzerland, has said that it acquired Blocktrade, which operates as a digital asset exchange platform.

Fintech 172

Fintech Analysis Guidelines Data 172

PYMNTS

JANUARY 13, 2021

Considering the circumstances, it’s impressive that so many of them maintain an optimistic attitude in the New Year, which is exactly the story told in Visa ’s new Back to Business Study — 2021 Outlook. Among those investments: data safety, fraud prevention and fulfillment. The Road Ahead .

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PYMNTS

JANUARY 15, 2021

The January 2021 Digital Consumer Onboarding Tracker® done in collaboration with Melissa informs on issues of the moment around how location data is making financial transactions safer and more accurate. Faulty data, on the other hand, can result in botched deliveries, inefficient operations and poor communication with customers.”.

Data 139

Data Los Angeles Study Fraud 139

Independent Banker

JANUARY 31, 2022

Source: Cornerstone Advisors, “What’s Going on in Banking 2021: Rebounding from the Pandemic,” 2021. A recent report by Cornerstone Advisors found that bankers are either strongly interested in or already working with fintechs in three main areas: digital account opening (71%), mobile wallets (41%) and fraud/risk management (47%).

Community Bank 159

Community Bank Community Fintech Risk Management 159

PYMNTS

APRIL 9, 2020

Embedding such functionality, in turn, can help merchants get what they need to support brick-and-mortar locations (in the case of, say, a restaurant offering takeout and delivery) while shifting to online commerce at the same time. Ovick noted there have been indications that bookings for summer 2021 are starting to gain traction.).

Data 160

Data Software Fraud Retail 160

PYMNTS

NOVEMBER 6, 2020

Square Earnings: Online Transactions, Square Card Spend See Gains. Commerzbank Warns of Pandemic-Related Bankruptcies in 2021. Data Can Fight Fraud, Remove Friction for Holiday Season. “As some people stay closer to home, more people are ordering from Uber Eats than ever before,” CEO Dara Khosrowshahi said on the call.

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Retail Analytics Payments Fraud 100

PYMNTS

DECEMBER 24, 2020

Or maybe that cryptocurrencies have yet to go mainstream beyond the headlines because fraud still lurks. PayPal announced recently that its 350 million users could deposit bitcoin and other cryptocurrencies in their accounts and spend it at 26 million merchants beginning in 2021. Keeping An Eye On Fraud.

cryptocurrency 258

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PYMNTS

MAY 28, 2019

With abundant choices in many aspects of their lives, consumers expect a range of options when it comes to online shopping, ranging from picking out clothes to making travel plans. By 2021, close to 90 million – or 86.5 million buyers who operate in industries such as website development, logo design and blog writing.

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Apple Mobile Fraud Branding 159

PYMNTS

DECEMBER 15, 2020

But he said the mergers that will take place in 2021 and beyond will create a healthier credit union (CU) landscape — and help bring branches toward a new level of customer service. Beware Of Fraud . Scott noted that fewer credit union mergers happened in 2020, largely due to the pandemic.

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Course Cards Fraud Mobile 186

PYMNTS

OCTOBER 7, 2020

Online retail has exploded in popularity over the past 20 years, with online giants like Amazon, eBay and big-box retailers’ marketplaces becoming consumers’ go-to alternatives to brick-and-mortar merchants. The eCommerce industry is expected to generate $4.5 The eCommerce industry is expected to generate $4.5

Payments 171

Payments Analytics Online Retail 171