PYMNTS

NOVEMBER 23, 2020

For purposes of this analogy, the “basement” into which bad mice are creeping is most likely your legacy payroll/expense management software and its possibly compromised connections. While technological advancements have revolutionized many aspects of operations, payroll and expense management are not [among] them. Fishing For BaaS.

System 165

System Management Tools Cards 165

PYMNTS

NOVEMBER 30, 2018

Understanding risk, particularly its sources and how to most effectively manage it, is one of the most fundamentally important topics in payments for those who provide services and those who use them. That precipitates the need to have new ways of look at risk management.”. The Expanded World Of Risks.

Risk Management 162

Risk Management Management Payments Fraud 162

PYMNTS

FEBRUARY 27, 2018

That certainly presents problems for spend management, according to research from the Global Business Travel Association (GBTA) Foundation, which found last year that non-corporate payment methods like cash and personal cards are limiting businesses’ access to transparency travel spend. Business spend on travel reached $1.15

Fraud 104

Fraud Marketing Payments Analysis 104

PYMNTS

MARCH 18, 2019

billion accounting fraud at South African retailer Steinhoff. Steinhoff first disclosed irregularities in its books in December 2017, but it wasn’t until PwC conducted and completed its investigation into the matter that the accounting fraud was revealed, Reuters reported on Friday (March 15).

Fraud 122

Fraud Retail Report Management 122

FICO

JUNE 4, 2020

As I discussed in my last post, the convergence of fraud and financial crime management is finally reaching a tipping point. While many are under the assumption that financial institutions need to fully integrate fraud and AML teams to realize the benefits, they don’t have to fully merge. Follow me on Twitter @FraudBird.

Fraud 52

Fraud Management How To Data 52

FICO

NOVEMBER 15, 2021

This week is International Fraud Awareness Week — but every week is Fraud Awareness Week for FICO, as we focus on helping banks and other financial institutions worldwide detect and manage fraud. Fraud is a big burden for such organizations but there are of course other victims – people just like you and me.

Fraud 105

Fraud Course Examples US 105

PopularBank

APRIL 18, 2024

Yet, despite advances in bank fraud protection, scammers continue to develop and deploy sophisticated—and successful—methods. Earlier this year, the Federal Trade Commission announced over $10 million in fraud losses in 2023, up 14% from the previous year. Thieves attempting bank fraud may try one or more of the following scams.

Fraud 52

Fraud social media Cards Security 52

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. businesses lose $1 billion every year due to employee expense fraud.

Fraud 100

Fraud Tools Policies Risk Management 100

FICO

MARCH 30, 2023

And I don’t have to worry about back problems from sitting on a small phone book! Both from a cash and a fraud perspective, my curiosity was piqued, and I fell down the rabbit hole to learn more. Fraudsters Love Digital Real-Time Payments All this rapid change is great for one thing — fraud. Where Did My Cash Go?

Fraud 52

Fraud ATM South Carolina Management 52

FICO

DECEMBER 13, 2022

Biometric Security Crucial for Fraud Protection and CX. Because customers value ease of use and good fraud protection most, FIs must balance scam protection with making things easy for good customers – but not TOO easy. How FICO Can Help You Fight Application Fraud. FICO Admin. Tue, 07/02/2019 - 02:45. by Sarah Rutherford.

Fraud 52

Fraud Security Survey Customer Experience 52

PYMNTS

JANUARY 23, 2019

And, he noted, there are lots of ways to mess with crypto firms — particularly those that aren’t regularly auditing their systems with penetration testing against fraud — including smart contract hacking or order book manipulation.

Fraud 177

Fraud Bitcoin cryptocurrency Security 177

PYMNTS

FEBRUARY 26, 2020

In India, Shell, for example, has introducing a new fleet card as part of a wider fleet management and payments service. TripActions, meanwhile, is introducing a card solution to provide an end-to-end corporate travel management and payments offering. Below, PYMNTS takes a look at the latest in commercial card innovation.

Cards 150

Cards Google Fraud Management 150

FICO

NOVEMBER 1, 2022

Application Fraud – Does Canada Need a New Approach? FICO’s Fraud, Identity and Digital Banking Survey 2022 shows that customers in Canada want slick onboarding processes, where fraud controls work but don’t delay account opening. And what does that mean for the future of your fraud management solutions?

Fraud 52

Fraud Survey Customer Experience Data 52

PYMNTS

MAY 8, 2019

PYMNTS readers might recall that late last year, FreightRover secured $500 million in financing to fuel its factoring operations, with the capital coming from Crayhill Capital Management. Williams reportedly was president of a Celadon subsidiary called Quality Companies during the period of alleged fraud. Fraud Allegations.

Fraud 135

Fraud Report Indianapolis Leadership 135

PYMNTS

SEPTEMBER 27, 2019

Police in Brazil have raided the residences of managers of Banco do Brasil in connection to their part in a money-laundering scam worth $48 million. Police are looking into accusations that the managers were a part of laundering the money between 2011 and 2014. .

Management 109

Management Video Company System 109

PYMNTS

AUGUST 24, 2016

Exaggerated claims on expense reports are challenging businesses’ ability to manage employee spend — and their own. The data also highlights how both employees and their managers are to blame for inaccuracies and fraud. The data also found their managers are in on the issue. Enterprise Chris Baker in a statement.

Management 100

Management Report Fraud Analysis 100

South State Correspondent

NOVEMBER 9, 2023

Enterprise Continuous Threat Exposure Management While many banks are advanced in managing their ongoing exposure management, the pace of change is causing banks to rethink their cyber defense. The underlying point here is that banks have traditionally used fraud data on an ad hoc basis.

Trends 195

Trends Technology Fraud Data 195

FICO

MARCH 26, 2018

This is the first in a series of articles in which we tackle some of the most topical fraud issues and decisions facing fraud managers today. Materials need to be bought and suppliers paid, or flights and hotels booked. Managing the Conundrum. We kick off with the concept of contact-free. What Is Contact-Free?

Strategy 93

Strategy Fraud social media Customer Experience 93

PYMNTS

JUNE 30, 2020

However, problems like high costs, fraud risk and manual work taking time away from other tasks still exist. PayParc specifically touts its ability to read booking data and convert it to automatic payment execution as a way to help save costs.

Payments 198

Payments Fraud Cards Data 198

PYMNTS

DECEMBER 10, 2020

Amadeus is teaming with Conferma Pay and Booking.com on a new streamlined travel booking and payment process, according to a press release. Both the traveler and the agent can benefit from automated reconciliation, minimize the risk of fraud, and experience a simple, secure, frictionless process from purchase to payment.".

Payments 174

Payments Cards Fraud Security 174

PYMNTS

DECEMBER 28, 2020

Cryptocurrency lending platform Vauld raised $2 million to expand into full banking services, including issuing credit and debit cards and providing fiat and crypto order books, CoinDesk reported. The funding round was led by Pantera Capital and included Coinbase Ventures and LuneX Ventures.

Capital 175

Capital Security cryptocurrency Fraud 175

FICO

JULY 30, 2019

Before getting started, CSPs should determine who “own”’ and is accountable for subscription fraud. Is it the fraud team? Also, is there a clear and agreed fraud risk appetite that has exec sponsorship and is agreed by all stakeholders? In part, this is due to the ever-changing nature of fraud. Credit risk?

Fraud 52

Fraud How To Analytics Analysis 52

FICO

MAY 17, 2019

In the past 6-12 months, synthetic identity fraud has skyrocketed and has been one of the hottest topics in the financial crimes domain. Many of us remember 2013 when the FBI announced that they had dismantled a major criminal ring committing credit card fraud. Bad customers can come back from the dead as zombie synthetic identities.

Fraud 75

Fraud US Cards Training 75

FICO

DECEMBER 5, 2022

Top 5 Surprises from FICO’s Fraud and Digital Banking Survey. Our survey found that good fraud protection is paramount for customers - even though they themselves may exaggerate income or claims. A report released by the FTC in February 2022 indicates a 71% increase in fraud in 2021, which cost consumers roughly $5.8 FICO Admin.

Survey 52

Survey Fraud Digital Banking social media 52

FICO

SEPTEMBER 16, 2019

In recent years there has been much talk of the fraud and financial crime departments at banks working together more closely. FICO commissioned research and analyst company Ovum to carry out an independent research survey to uncover the main concerns and issues banks face when fighting fraud and complying with financial crime legislation.

Survey 40

Survey Fraud Strategy Compliance 40

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

FICO

SEPTEMBER 13, 2021

Consumer habits have shifted to online shopping for goods and services and the impact for merchant acquirers is the need for faster onboarding of new merchants and effective ongoing monitoring to minimise fraud and compliance risk. Digital automation can enable a process to underwrite a new merchant in just minutes rather than days.

Management 52

Management Analytics eBook Data 52

PYMNTS

MARCH 26, 2018

Wells Fargo, weeks after it was hit with a rare enforcement action from the Federal Reserve, is overhauling its risk management processes and announced internally that four top risk management executives would be retiring. All are retiring in April, May or June.

Risk Management 100

Risk Management Management Compliance Groups 100

FICO

AUGUST 16, 2019

First-party fraud refers to an applicant or customer’s intention to commit fraud, whether through use of a true, manipulated or synthetic identity. It’s difficult to define the problem and many banking professionals debate the merits of who “owns” the first-party fraud problem — the credit risk group or the fraud group.

Fraud 40

Fraud Analytics Groups Management 40

FICO

DECEMBER 15, 2020

It is true that the pandemic has accelerated the majority of digital trends and challenges this past year; I believe the “COVID effect” will persist strongly into 2021, which brings me to three broad predictions: Consumer spending patterns will remain in flux, requiring financial institutions to keep their guard up as fraud patterns change quickly.

Fraud 52

Fraud Compliance Management Software 52

PYMNTS

FEBRUARY 2, 2017

From there, the journey moved on to marketplaces — with an unsurprising specialty in real estate — where he also found himself on the front lines fighting fraud. Fraud’s Ever-Evolving Presence. Nothing wrecks a marketplace like fraud. But attempted fraud is more or less everywhere. “We

Management 100

Management Fraud Payments Cards 100

PYMNTS

APRIL 1, 2016

Receivables management can be as much art as science. For banks, according to an e-book by payments processing firm FTNI, receivables management is a constant juggling act across corporate customers, and their own internal daily ebb and flow of cash flow. contact-form-7].

Management 100

Management Compliance United States Payments 100

FICO

MARCH 30, 2021

While the phrase has become a bit hackneyed (I did grit my teeth a bit while I wrote that first sentence), this past year the pandemic truly impacted not just major parts of our personal lives, but how we handle our fight against fraud and financial crime. . FICO Solutions. FICO solutions tackle all these pain points and more.

Fraud 52

Fraud Data Resources Study 52

Abrigo

DECEMBER 19, 2019

Key Takeaways To book loans more quickly, institutions must create efficiencies and increase loan turnaround. Growing the loan portfolio seems fairly straightforward: book more loans. To book loans more quickly, financial institutions must create efficiencies and increase loan turnaround – without sacrificing quality.

Lending 195

Lending Fraud Community FDIC 195

PYMNTS

MARCH 5, 2019

In an interview with PYMNTS, Marie Perrin-Largilliere, senior manager of global product marketing at HomeAway, got a bit more granular on how the firm seeks to engage both sides of the transaction. She stated, too, that a fraud detection team is tasked with watching for and preventing account takeovers. A “Test and Learn” Approach.

Regional 148

Regional Mobile Security Fraud 148

PYMNTS

FEBRUARY 8, 2019

Technology speeds commerce and eases daily life, but also acts as a conduit to payments fraud. To that end, Metro Bank said earlier this week that at least some of its customers had been victimized by fraud that focuses on text messages sent across telecom companies’ networks that Reuters reported are used to verify transactions.

Metro 169

Metro Fraud Compliance Taxes 169

PYMNTS

OCTOBER 22, 2018

They shop, pay bills, book and manage travel – all digitally. million: The number of fraud crimes in the U.S. In an average week, the average consumer spends about 24 hours online – exactly 1/7 of their time. They use their phones to order food and to decide what they eat before they order.

Data 182

Data Regional Fraud Course 182