FICO

MARCH 11, 2020

This type of fraud is known as subscription fraud or first party fraud, where a consumer is opening an account for a subscription service (e.g., This type of fraud can constitute 10-20% of the bad debt. In this blog post I will look at: The growing problem of subscription fraud. This is not subscription fraud.

Fraud 52

Fraud Industry Analytics Strategy 52

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. . Citi, Citizens Bank, Regions Bank, Fifth Third and Synovus are the largest banks currently participating in point-of-sale financing. Strategies and Tools for Fighting BNPL Fraud.

Fraud 52

Fraud Cards Millennials Utah 52

PYMNTS

JUNE 28, 2018

But the recent thefts, along with other attempted and completed cyberattacks, demonstrate why payments officials in the region are expressing fresh concern about financial security there. Fraud is a Top Worry. Evidence of that comes from Swift’s Latin America Regional Conference , held earlier this month in Miami.

America 102

America Security Miami Conference 102

PYMNTS

JULY 21, 2020

“Building bank relationships across multiple countries and regions is difficult and time-consuming work,” he said, adding that complexity can even proliferate if a treasurer needs to add a new bank branch to the mix. ” Challenge Turned Opportunity. These hurdles are, indeed, massive challenges.

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Management Innovation System Fraud 160

PYMNTS

OCTOBER 21, 2019

Ensuring SCA compliance should be part of a larger effort to determine that a payments strategy is secure, cost-effective and satisfies user expectations for convenience and trust. The goal is for merchants to think about how they will manage the SCA transition, and to develop a fraud and exemption strategy. Friction So Far.

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Strategy Compliance Fraud Payments 100

FICO

DECEMBER 2, 2020

Customer journeys driven through a well-designed banking app with mobile phones used for face and document image capture, fingerprint capture, device recognition and keystroke analysis augers well for both account applications and the ongoing authentication of customers returning to use their accounts through their banking app.

Survey 72

Survey Regional Compliance Fraud 72

PYMNTS

MAY 25, 2018

So it is perhaps with a bit of irony that the eCommerce behemoth known as Amazon , via its Web Services division (AWS), has positioned itself as offering a way for local and regional financial services providers to craft new products, enter new markets and meet the regulatory requirements necessary for worldwide competition.

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Regional Regulation Meeting Security 109

Jack Henry

APRIL 30, 2014

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. Regional Coalitions. Information Sharing and Analysis Centers (ISACs).

Fraud 88

Fraud Cyber Security ATM FDIC 88

FICO

NOVEMBER 23, 2021

Armando Junior, general manager, risk and compliance at Dock (previous winner) . At Conductor, he helped the payments and banking-as-a-service platform increased fraud detection by 25 percent. These unique perspectives, mean we can expect a detailed and diverse analysis of the submissions. by Nikhil Behl.

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Meeting Analytics Risk Management Management 52

PYMNTS

MAY 23, 2017

Analysis published Monday (May 22) from ratings agency Fitch concluded that the potential for a spike in trade protectionism is a significant risk to the global economy. “A Raimundo Diaz, head of Americas at TMF Group, and Jason Gerlis, regional director of North America at TMF Group, both chatted with PYMNTS about the findings in the report.

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US Compliance Taxes Trends 100

FICO

NOVEMBER 11, 2020

René is currently responsible for the market and liquidity risks teams and the risk modeling team, overseeing credit, market and liquidity models, contributing to policy design and governance at Banreservas; the largest bank in the Dominican Republic and one of the largest in the region. by Nikhil Behl.

Meeting 52

Meeting Analytics Big Data Management 52

FICO

NOVEMBER 2, 2017

A new report from LexisNexis on Future Financial Crime Risks (September 2017) highlights the stress felt by UK banks around financial crime compliance. Given the rapid change in financial compliance regulations, it’s easy to see why the 170 financial crime professionals surveyed felt overwhelmed. Do you have any advice?

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Compliance Regulation Data Management 53

FICO

MARCH 18, 2020

With acceptance of biometrics becoming mainstream, and the need for fraud protection ever front of mind, how can banks use biometrics in order to be more effective and efficient? Fraud—do you need to change your approach to thwart a change or increase in attacks. Intelligent Orchestration of Multi-Factor Authentication.

Fraud 52

Fraud Analytics Samsung Comparison 52

FICO

DECEMBER 23, 2020

Implementing these new and more effective methods of data analysis to better identify various types of financial crimes (including unusual or abnormal behavior) will be a critical journey. We predict that regulators will continue to emphasize financial crimes compliance by looking to close the gaps in existing frameworks and regulations.

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Compliance Regulation Data Risk Management 52

NCR

OCTOBER 17, 2017

With industry-specific compliance requirements driving security spending and deployment, it’s natural to assume that best practices for securing access to sensitive data are different from vertical to vertical. The third trend, gleaned from cluster analysis, is that much of the attack surface is shared across all industries.

Security 45

Security Analysis Regional Industry 45

CB Insights

AUGUST 3, 2017

Our analysis delves into companies that focus on the financial services industry, including commercial banking and credit offerings, insurance, asset management, accounting, business management, personal finance, and regulatory & compliance services. Anti-Fraud : Companies offering payment fraud solutions. Anti-Fraud.

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Company Fintech Comparison Marketing 65

FICO

MARCH 6, 2020

Visma Connect recently interviewed Jürgen Krieg, FICO's head of global compliance sales. In this excerpt from that article, Jürgen elaborates on the importance of compliance. . At FICO, I am responsible for planning and implementing growth strategies to develop new markets, and the expansion of our compliance business globally.

Compliance 81

Compliance Technology Fraud Analytics 81

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

FICO

JULY 25, 2016

My FICO colleague TJ Horan recently blogged about the skyrocketing compliance costs that banks face in their fight against money laundering and other financial crimes. TJ wrote: In 2015 we acquired TONBELLER, an innovator in risk-based financial crime prevention and compliance. Anti-money laundering (AML) is a good example.

Analytics 40

Analytics Compliance Examples US 40

NCR

AUGUST 22, 2017

Certainly, adherence to compliance across an ever-changing regulatory landscape hasn’t been easy; and neither has mounting competiton with fintechs and media-darling tech unicorns (usually a start-up without an established performance record and a stock market valuation of >$1 billion USD).

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Fintech Innovation Millennials Customer Experience 45

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. Here are excerpts.

Fraud 52

Fraud Cards Report Analytics 52

NCR

AUGUST 18, 2017

A study by Business Insider Intelligence found that the most common reasons that financial services firms in the EMEA region are investing in blockchain is to create new business models or launch startups. Nearly four out of ten firms (37 percent) highlighted this as a reason for their interest in the technology. The hurdles to be overcome.

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blockchain Technology cryptocurrency Study 75

FICO

JANUARY 17, 2018

In previous blogs, we’ve defined application fraud , explored the role of hackers and cyber terrorists in perpetrating fraud, and the reflected on the importance of establishing a fraud risk appetite. That brings me to the topic that comes up in every application fraud conversation: data. Your Data Checklist.

Fraud 71

Fraud Data Strategy Analytics 71

Insights on Business

NOVEMBER 26, 2018

I challenge that notion, and also present three key ways that the new approach to financial crime and compliance management moves away from the current, endless Sisyphean cycles and is a fulfillment of what many of your existing solutions promised: a better approach. Webinar: AML Compliance comparison and effectiveness.

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Compliance Customer Experience Strategy Groups 123

PYMNTS

NOVEMBER 20, 2020

He added that Red Dot’s ties with Temasek , the Singaporean government’s investment fund, also gives the company unique access and insight on a range of regional businesses. For instance, Red Dot recently took a stake in EverC , which deals with fraud detection and compliance on the merchant side. “We

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Capital United States Strategy Conference 192

CB Insights

OCTOBER 26, 2020

Goldman Sachs began working to automate its own IPO process after it found that around half of the 127 IPO steps it identified could be done by computers — for example, making calls to compliance, making calls to legal, delivering price updates to clients, preparing the company’s audited financials, and so on. In 2017, startups raised $5.6B

Management 78

Management Capital Company Marketing 78

CB Insights

MAY 15, 2019

Companies are turning to accelerators, funds, and labs to try to find the next big thing that will reduce fraud, speed up transaction times, and catch on with consumers. Working with FCAT, the charity searched for third-party vendors and iterated testing on compliance with legal and regulatory requirements to be able to accept Bitcoin.

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Innovation blockchain Technology Groups 78