PYMNTS

DECEMBER 31, 2020

Debit card issuers face an ever-growing array of fraud schemes perpetrated against them and their account holders. Effective card offerings require financial institutions (FIs) to quickly and accurately detect myriad forms of fraud, forcing them into a delicate balancing act. The Face of Fraud.

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PYMNTS

JUNE 30, 2017

FIS, the financial services technology, and Cardtronics, the ATM owner/operator, announced Thursday (June 29) plans to integrate FIS Cardless Cash access across Cardtronics’ ATM fleet in the United States. With the technology, consumers can access their funds and authorize how much to withdraw without needing a physical card.

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PYMNTS

NOVEMBER 11, 2020

The count of bitcoin ATMs has jumped this year, rising by 85 percent to just under 11,800, CoinDesk reported. The move allows all firms or partners linked to the application programming interface (API) of ShareRing to provide a safe, inexpensive and expedient method to make a reservation with the benefits of ShareLedger and ShareRing ID.

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PYMNTS

JANUARY 11, 2021

To that end, late last week Equifax said it had reached a deal to acquire fraud prevention and digital ID firm Kount for $640 million. As reported, the deal will enable Equifax to boost its global presence in digital ID and fraud prevention, including through the Kount Identity Trust Global Network. In a Monday (Jan.

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PYMNTS

AUGUST 26, 2019

The phenomenon of payments fraud is not a modern one — far from it. But as RL Prasad, SVP of payment system risk at Visa , told Karen Webster in a recent conversation, what is new today is the who and the how of fraud, particularly in a digital world. Enumeration attacks, he noted are a good example of this.

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PYMNTS

MAY 29, 2020

“Banking is rapidly becoming more omnichannel, and FIs need to be sure they can safeguard customers across all the products through which they access their financial services,” according to the May 2020 FI Fraud Decisioning Playbook , produced by PYMNTS and sponsored by Simility. In With the New.

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PYMNTS

FEBRUARY 3, 2020

Debit card fraud can have far-reaching consequences that extend beyond those of credit card fraud, as debit technologies link directly to customers’ bank accounts. Preventing or minimizing damage caused by fraud is critical to maintaining customers’ trust and loyalty, after all. . Fraud And The Problem Of Convenience.

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PYMNTS

JANUARY 21, 2020

Advances in fraud decisioning have cybercrooks scrambling into the new arcana of synthetic identities and fiendish mass bot attacks, looking for any possible opening to exploit. Some industries are more prone than others, as we discovered in the latest Fraud Decisioning Playbook , a PYMNTS and Simility collaboration.

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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

JULY 31, 2019

In an effort to make Singapore’s three million monthly cash withdrawals more digital, OCBC Bank has rolled out QR codes that customers can use at any of its 655 ATMs, the company said in a press release on Wednesday (July 31). Additionally, a physical ATM card can be skimmed while a mobile device cannot, the company said. “As

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PYMNTS

OCTOBER 20, 2017

ATMs have been around for decades, along with the challenges they pose for financial institutions – including security of a machine that can hold hundreds of thousands of dollars; the financial burden of operating a fleet of such complex machinery; and management of the suppliers, solutions and technologies that go into making an ATM tick.

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PYMNTS

JULY 3, 2020

FIs confronting this new reality have worked hard to redesign their fraud-fighting approaches to suit the new commercial landscape. . ML is another powerful tool that can help FIs ensure their fraud-fighting models quickly adapt as consumers’ behaviors change, he stated. Defending Agains Fraud During Periods Of Reopening .

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PYMNTS

NOVEMBER 8, 2017

Since smartphones haven’t learned how to print paper money, people still must turn to ATMs for that. In fact, the number of ATMs in the U.S. On top of that, they want better security and ease of use, including new technologies like biometric authentication and more granular functions like specifying bill denominations.

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PYMNTS

SEPTEMBER 17, 2020

In separate news, the overall count of bitcoin automated teller machines (ATMs) approached 10,000 at the beginning of September, aksjebloggen.com reported. There were 9,680 bitcoin ATMs as of the start of the month, marking a 167 percent year-on-year rise. But they have grown in popularity in markets that are not stable.

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FICO

MARCH 30, 2023

Both from a cash and a fraud perspective, my curiosity was piqued, and I fell down the rabbit hole to learn more. Because of the rapid shifts in consumer behavior, the trusty ATM is becoming hard to find in the wild. The ATM population peaked at around 470,000 total devices in 2019 , but dropped to 456,000 in 2022.

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PYMNTS

JANUARY 21, 2021

Merchants, card issuers and banks are no strangers to facing off against evolving fraud threats. Debit-related fraud is a particular concern for businesses and banks as failing to thwart such schemes could have significant and costly consequences. Debit And The Fraud Catch . A PYMNTS study on U.S. A PYMNTS study on U.S.

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American Banker

JULY 7, 2023

Deposits of Listerhill and Avadian credit union customers were compromised by fraud conspirators, one instance in a rise of card skimming cases across the country.

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FICO

OCTOBER 12, 2016

As the US payment card infrastructure continues to move to EMV, fraudsters are turning their targets toward unattended self-service terminals, such as US ATMs, most of which have not yet been upgraded to read EMV chips. Globally, the European ATM Security Team reported a 19% increase in ATM-related fraud attacks from 2014 to 2015.

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PYMNTS

JANUARY 18, 2017

The National ATM Council (NAC) argued in testimony to the Committee on Consumer Affairs of the New York City Council last week that a proposed ordinance would impose costly and burdensome new security regulations on ATM operators all around the city. said Renard in the same press release. “In said Renard in the same press release.

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PYMNTS

MAY 19, 2016

ATM skimming just got taken to the next level. Kaspersky Lab announced new research regarding a hacker collective, known as the Skimer group, that uses malware to essentially make an ATM steal users’ money. Instead of putting skimmer devices on the ATM, this group makes the entire ATM a skimming device.

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PYMNTS

JUNE 13, 2017

Diebold Nixdorf , the connected commerce technology company and Samsung SDS America announced they are teaming up to show how integrating advanced mobile technology — such as facial recognition — and the self-service channel can result in enhanced security and an improved consumer experience.

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PYMNTS

MAY 29, 2020

We have deep dives on Main Street’s digital shift, ATM innovation and PPP loans. Innovating The ATM Beyond Cash. FIs need to have the ability to find and thwart fraud, without accidentally sweeping up legitimate clients. The Flaw In Demonizing Big Tech. How To Keep Fraudsters From Scamming Banks Across Every Nook And Channel .

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FICO

MARCH 7, 2018

ATMs and merchants in 2017. ATMs, restaurants and merchants rose 8%. On the face of it, there’s nothing to celebrate in this ATM fraud data from our FICO ® Card Alert Service , which monitors hundreds of thousands of ATMs and other readers in the US. But the growth curve in ATM fraud is flattening out.

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PYMNTS

JUNE 6, 2019

Dutch billionaire John de Mol, who created the reality TV program “Big Brother,” is suing Facebook for allowing fake ads which used his name and image to commit bitcoin-related fraud that swindled 1.7 In other news, Vancouver’s mayor is suggesting the ban of bitcoin ATMs, as the city’s police called them an “ideal money laundering vehicle.”.

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NCR

APRIL 26, 2017

Developments in technology and business practices have helped banks to protect their ATMs more effectively than ever before. The ATM Industry Association’s (ATMIA) 2016 annual fraud survey found that the proportion of respondents revealing a general increase in ATM crime dropped to 42 percent , from 51 percent in 2015.

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PYMNTS

JANUARY 5, 2017

With it, KNET can offer its member banks fraud protection. ACI Worldwide will also deliver ongoing fraud prevention consultancy to KNET. “A KNET will also use the tool to monitor domestic and international transactions across the network.

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PYMNTS

AUGUST 14, 2019

Now there is an app that can wirelessly reveal the thievery technology, as reported on Wednesday (Aug. Created by a team of computer engineers, the new app, nicknamed Bluetana, can detect even the most discreet skimmers on gas pumps and bank ATMs. The app is not expected to go mainstream for consumers in the near future.

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FICO

MARCH 1, 2022

Fiserv, a leading global provider of payments and financial services technology solutions, has developed a new fraud mitigation service that has reduced fraud losses, which were already low by industry standards, by 10 to 15% for its small to midsize credit union and bank clients. Keeping Up With The Fraudsters.

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FICO

NOVEMBER 26, 2019

With new scams on the increase, FICO’s fraud experts have added new tips for staying safe and avoiding fraud, taking the total to 16. Take Care at ATMs. If an ATM looks odd, or your card doesn’t enter the machine smoothly, consider going somewhere else for your cash. Never approach an ATM if anyone is lingering nearby.

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PYMNTS

JANUARY 22, 2020

Globally, more than 75 percent of all cards are now enabled with EMV chip technology. In development for over a decade, SmartMetric began designing products with biometric technology. The company determined that its sophisticated chip engineering, embedded within cards, would best combat fraud and stolen data.

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PYMNTS

NOVEMBER 21, 2016

Why make one’s life hard hacking consumer accounts — or taking up armed robbery — when one can get the best of both worlds by directly attacking the banks’ computers and getting ATMs to do things like start spewing cash for no apparent reason? Reports of loose cash at other ATMs soon followed.

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FICO

NOVEMBER 21, 2018

While people in the US, UK and other nations celebrate Black Friday bargains, it’s a good time to remind customers to watch out for Black Friday fraud. People have two chances to make themselves vulnerable — when taking out cash at an ATM and when taking advantage of Cyber Monday, when card-not-present (CNP) fraud spikes.

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FICO

AUGUST 31, 2017

While data breaches and ransomware grab the headlines, we’re still seeing fraud growth due to ATM compromises in the US. The fraud growth rate has slowed down from the gangbusters surge we saw in 2015, but consumers and issuers still need to pay attention. Never approach an ATM if anyone is lingering nearby.

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PYMNTS

MARCH 3, 2020

Banks looking to make the most out of these rare visits must use the latest technologies. Digital-first transformations can improve personalization and operating efficiencies, but they also bring challenges, including adoption-related costs and new avenues for fraud. Hindrances to Digital-First Implementations.

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ATM Marketplace

JANUARY 6, 2017

While credit unions, banks and other ATM owners and operators continue to migrate their machines to EMV technology, the question remains: Will EMV ultimately solve this very serious problem?

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PYMNTS

MAY 31, 2017

That brings up some questions for banks: What are the opportunities for banks with debit, and with branches, and even with ATMs? In the competition between large banks and smaller ones, technology lends an edge, said Cullen. Estimates from Deloitte show that maintenance is $165 per ATM per month.

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PYMNTS

MARCH 8, 2019

At the same time, new technologies such as biometrics are emerging in the fight against fraud. And an initiative tied to a consortium of companies is looking to redefine how automated teller machine (ATM) applications are built and used. million: The number of ATMs in the world that run on Windows operating systems.

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