PYMNTS

NOVEMBER 12, 2020

“Joining forces with INFORM, we help our customers speed up the adoption of strong customer authentication for safer online purchases,” Gabriele Boni, global service line cards director at SIA, said in a statement on Thursday (Nov. The initiative will be powered by INFORM’s RiskShield, an advanced risk evaluation solution.

Payments 130

Payments Compliance Fraud User Experience 130

PYMNTS

JUNE 22, 2017

There’s another way, though, in which the fear of fraud bears down on the enterprise. A new report from Vesta Corporation finds fraud positions itself in the way of innovation and growth, even compliance. to understand how payments fraud is limiting corporates’ path to success. cents per every $100 transacted.

Fraud 108

Fraud Innovation Survey eBook 108

PYMNTS

JANUARY 10, 2018

Oversight Systems has updated its Insights On Demand software-as-a-service (SaaS) solutions to provide managers with quicker ways to identify expense report fraud. businesses lose $1 billion every year due to employee expense fraud. In an announcement on Tuesday (Jan. Oversight cited data from JPMorgan, which estimated U.S.

Fraud 100

Fraud Tools Policies Risk Management 100

PYMNTS

FEBRUARY 18, 2020

The bank will offer a corporate credit card for travelers that provides solutions for expense management and payments while users are on business trips. Mastercard and SAP Concur, an invoice management company, will provide support for the card.

Compliance 150

Compliance Cards Management Taxes 150

Insights on Business

JUNE 28, 2018

A recent explosion of AI applications is taking place in financial institutions, particularly in the area of risk and compliance. So how is AI helping risk and compliance processes? Risk and compliance departments suffer from massive data loads and exhausting regulatory requirements. That still sounds complicated, doesn’t it?

Compliance 70

Compliance Case Study Analysis Analytics 70

PYMNTS

DECEMBER 9, 2018

With retailers struggling to get compliant with the Payment Card Industry Data Security Standard , qualified security assessors are going to be in more demand and can offer tokenization as one way of achieving compliance. That’s according to TokenEx , which recently hosted a webinar to help retailers better understand tokenization.

Retail 194

Retail Report Compliance Security 194

FICO

SEPTEMBER 8, 2022

Payments Fraud in Asia Post Pandemic. Why consumers are moving to banks with the best fraud and scam prevention. Senior Consultant, Fraud and Financial Crime. The growth of real-time payments and fraud in Asia. The appeal of these banking innovations has also made it a honeypot for fraud. Saxon Shirley.

Fraud 52

Fraud Payments Survey Security 52

PYMNTS

AUGUST 15, 2019

PSD2 compliance challenges continue to roll in, with strong customer authentication (SCA) requirements headed merchants’ way next month. That can lead to confusion and misunderstandings, with the latest analysis from Ekata revealing 25 percent of merchants across the European Union unaware of the upcoming SCA requirements.

Payments 122

Payments Analysis Cards Compliance 122

Gonzobanker

SEPTEMBER 21, 2023

CSI partnered with Dragonfly for treasury management and with Hawk AI for fraud and anti-money laundering solutions. The two firms previously agreed to sell Black Knight’s Empower LOS to Constellation Software as part of their merger agreement (see further analysis and impact ). an embedded payments platform for fintechs.

Fintech 103

Fintech Software Illinois Lending 103

FICO

JANUARY 10, 2023

Top 5 Fraud Posts for 2022: Scams, Contactless and Money Mules. In a year that saw the word "scamdemic" coined, scams such as authorised push payment fraud were top of mind, along with various other fraud schemes. Few things change faster in the financial services space than fraud trends. FICO Admin.

Fraud 52

Fraud Cards Analytics Oakland 52

FICO

DECEMBER 9, 2020

In my previous post I looked at what was driving synthetic identity fraud and discussed the difficulties in classifying both first-party fraud and synthetic identity fraud. An inherent challenge with first-party fraud is sorting out fictional customers from real ones without reducing business. What to Do.

Fraud 52

Fraud Strategy Analysis Analytics 52

FICO

JULY 1, 2022

Global Fraud Trends: What’s Happening and What’s Next? Here are the highlights from the fraud trends breakout session at FICO World 2022 with a panel of fraud professionals from Brazil, Turkey and North America. Ulisses Okamoto , Fraud Risk Management Superintendent at Itaú Unibanco (Brazil). Tue, 07/02/2019 - 02:45.

Fraud 52

Fraud Trends South Carolina Risk Management 52

PYMNTS

APRIL 12, 2016

Nonprofits can face greater pressure than their for-profit peers when it comes to compliance. The virtual card has gained attention in recent years for its ability to not only digitize corporate payments but to safeguard them, often coming in the form of a one-time-use card number designated for a specific purchase category and value.

Cards 100

Cards Tools Fraud Payments 100

FICO

NOVEMBER 30, 2017

In my previous post on application fraud, we explored the drivers behind the rapid acceleration of identity-based fraud , which includes identity theft / third-party fraud, synthetic identity fraud, and first-party fraud. Managing fraud is a balancing act that starts with knowing your fraud risk appetite.

Fraud 82

Fraud Analytics Compliance Management 82

NCR

DECEMBER 11, 2017

From the banks’ perspective, they must have robust systems in place to proactively tackle fraud before transactions can take place, as well as ensuring customer data is protected from potential breaches. But what about the role of the merchant in defending against fraud and data breaches? Lack of compliance a common problem.

Compliance 72

Compliance Data Fraud Security 72

PYMNTS

JUNE 24, 2020

Analysis, Compliance, Speed. Payments orchestration simplifies and automates payments flows – enabling, for example, seamless recurring payments while monitoring card-on-file accounts to prevent customer churn due to fixable issues like expirations.

Payments 130

Payments Regional Analysis Compliance 130

FICO

JUNE 14, 2021

In this post, I’ll provide a quick overview of how BNPL works, and share my thoughts on how BNPL fraud can occur and where the financial liability lays. . For many options, borrowers first create an account with each BNPL firm they want to use, providing their debit card or bank information as the payment mechanism. A BNPL Primer.

Fraud 52

Fraud Cards Millennials Utah 52

FICO

AUGUST 21, 2020

There’s one fraud pattern that’s highly predictable: when the economy goes down, fraud goes up. When it comes to fraud and COVID-19, the Great Recession of 2008 provides some important lessons that can help banks and consumers protect themselves against the increased risk. A Resurgence of Specific Fraud Types.

Fraud 52

Fraud Customer Experience Tools Analysis 52

PYMNTS

JANUARY 26, 2021

In fact, he continued, Oversight analysis suggests that risk levels are up threefold compared to this time last year. It’s certainly important for business leaders to address problems like expense fraud, duplicate invoice payments or non-compliant spend. Spending Disparity. The Value Of Automated Analytics.

Analytics 189

Analytics Compliance Management Data 189

FICO

DECEMBER 4, 2018

I’m excited to announce that FICO has been named as a category leader in the Chartis Financial Crime Risk Management Systems for Enterprise Fraud report. The Chartis report Vendor Analysis: FICO (Financial Crime Risk Management Systems: Enterprise Fraud; Market Update 2018) provides further analysis of FICO’s rating.

Fraud 45

Fraud Risk Management Analytics Analysis 45

FICO

JULY 13, 2020

But for criminals, working individually or in fraud rings, these vehicles (or any vehicle, for that matter), present an attractive opportunity: finance the vehicle, sell it illicitly, and pocket the cash. An estimated 10% to 15% of auto finance companies’ bad debt book actually classifiable as first-party fraud.

Fraud 52

Fraud Analysis United States Risk Management 52

Gonzobanker

AUGUST 17, 2022

Then, bad grades came in right as summer party season kicked off, mom and dad took away the car and credit card, and the Venmo transfers came to a screeching halt. First, there was the drama leading up to the breakup with the rich hottie. Thankfully, there was still a smartphone and social media to commiserate.

Fintech 193

Fintech Lending Software Compliance 193

FICO

JANUARY 5, 2021

It’s no surprise that COVID-19 would be one of the subjects that drew readers to the FICO Blog last year, but for the Fraud Protection and Compliance category it wasn’t the only top draw. What else made for the hottest reads in 2020 for fraud and financial crime? 2: Fighting Fraud: How Biometrics Enhance Identity Authentication.

Fraud 52

Fraud Compliance Survey Google 52

FICO

JUNE 15, 2021

All too often, elders today are the targets of residential real estate fraud and scams. In January 2021, two million people over age 55 were unemployed , according to an analysis of federal data published by the AARP Public Policy Institute. Keep up with the latest on fighting fraud, scams and financial abuse by following this blog.

Fraud 98

Fraud Capital Marketing Analysis 98

Abrigo

MARCH 7, 2022

The world of FinCrime is more dynamic than ever, with fraud escalating thanks to an increase in mobile payments precipitated by the pandemic and security concerns rising over the Russian conflict in Ukraine. Fraud Prevention. Card Fraud. Fraud Prevention. 2022 Regulatory Focus. Shifting Focus. Cannabis Banking.

cryptocurrency 195

cryptocurrency Regulation Fraud Policies 195

PYMNTS

JUNE 26, 2019

Anti-money laundering, data security, mobile/digital payments, fraud-fighting and payment tech rounded out the top five — with each ranking as a lead priority for over 50 percent of credit union executives. And in some of those objectives — particularly in fraud detection and prevention — those uses are happening, iterating and thriving.

Analytics 118

Analytics Data Tools Fraud 118

PYMNTS

SEPTEMBER 23, 2019

“A firm attempting to make purchases from a new overseas supplier can trigger a fraud warning, for example, but AI solutions might compare it to a cluster of similar SMB accounts and further examine it before raising a flag,” the report noted. . Empowerment Through Data. Beyond the Payment.

Payments 122

Payments Fraud Strategy Security 122

PYMNTS

OCTOBER 6, 2020

Know thine enemy” is the first rule of any fraud or money laundering prevention system, with payments providers of all types requiring an intimate knowledge of the threat they face if they have any hope of countering it. Their end goal is largely the same, primarily targeting payments providers to test or use their stolen credit cards.

Analytics 163

Analytics Data Analysis Payments 163

PYMNTS

OCTOBER 23, 2018

As well, digital billing can help reduce healthcare fraud and errors in the $3.5 It does it automatically by deducting it from your credit card without giving out that credit card info, of course.”. Another challenge is ensuring HIPAA compliance to protect the privacy of patients and avoid legal and reputational troubles.

blockchain 173

blockchain Study Case Study Fraud 173

PYMNTS

OCTOBER 21, 2019

The new SCA Impact Playbook explores how subscription-based merchants can prepare for SCA and manage conversion, churn and card-based risk. The Three Cs: Conversion, Churn and Card-Based Risk. The goal is for merchants to think about how they will manage the SCA transition, and to develop a fraud and exemption strategy.

Strategy 100

Strategy Compliance Fraud Payments 100

Tech and Finance

MAY 18, 2018

SAS has created a new global Fraud and Security Intelligence Division to help organizations better detect and combat threats from fraudsters and hackers. The division will further focus and sharpen the SAS efforts to combat fraud and cybersecurity. And to meet those demands, we need to have a sophisticated and robust solution.”.

Fraud 28

Fraud Security Analytics Compliance 28

PYMNTS

JANUARY 22, 2020

However, what sets SCA apart is how narrow the margin for error is upon implementation — on day one, any lack of compliance with the pre-authentication guidelines will result in declined transactions, something that no European merchant wants. That recommendation sounds simple and direct, he noted.

Data 141

Data Guidelines Regulation Compliance 141

Jack Henry

APRIL 30, 2014

Cyber-Attacks on Financial Institutions ATM and Card Authorization Systems. In light of the ATM cash-out schemes that had taken place recently, an alert was issued to provide details on how this type of fraud had occurred, the risks presented to financial institutions (FIs), and what FIs could do to mitigate these risks. FBI InfraGard.

Fraud 88

Fraud Cyber Security ATM FDIC 88

FICO

AUGUST 24, 2020

With consumers now transacting so much more through their phones, how can banks protect their customers from fraud and help their customers to protect themselves? In this way, transaction patterns can be used to make real-time decisions on funds' availability and potential fraud in the context of all customer behaviors.

Mobile 52

Mobile Fraud Payments Cards 52

FICO

NOVEMBER 25, 2019

Unfortunately, new fraud opportunities have come along for the ride. While consumers demand their banks protect them from fraud, enhanced protection must be delivered with a customer experience that is fast, easy and consistent. The selfie also proves that you have possession of the ID card. Fingerprints Don’t Prove Who You Are.

Fraud 52

Fraud Customer Experience Mobile Compliance 52

PYMNTS

SEPTEMBER 7, 2017

And CFOs are busier than ever, said Sneed, with things like new and stricter compliance and regulation tasks putting more and more pressure on them. Taking the time to go down and do an analysis in the midst of the day-to-day work grind is not something that’s top of mind,” Sneed said. Is working capital its main driver?

Payments 140

Payments Strategy Meeting Management 140

FICO

NOVEMBER 11, 2020

Ignazio is currently responsible for a team of over 100 employees in the Risk Operation Department at Swisscard, a leading credit card company in Switzerland. The caliber of people on the panel, with over 150 years of experience between them, means we can expect a very thorough and diverse analysis of the submissions.

Meeting 52

Meeting Analytics Big Data Management 52