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. 28), claiming that XRP is a “cryptocurrency asset,” not a security, CoinDesk reported, citing the company’s press release.

Capital 175

Capital Security cryptocurrency Fraud 175

PYMNTS

JANUARY 14, 2021

Commerzbank has told lawyers that the bank was a victim of fraud in the ongoing Wirecard case, Reuters reported Thursday (Jan. Commerzbank, like many others, was a victim of an unimaginable fraud of a huge dimension,” he said, according to Reuters. The lender was "deceived" by the executives and auditors involved, Commerzbank said.

Fraud 146

Fraud Regulation Operations Report 146

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

DECEMBER 28, 2016

New research from Security Research Labs (SR Labs) has revealed fundamental security and authentication weaknesses across major flight booking systems, leaving them vulnerable to hacking. Given only passengers’ last names, their bookings codes can be found over the Internet with little effort,” said SR Labs’ Karsten Nohl.

System 101

System Security Data Industry 101

PYMNTS

NOVEMBER 22, 2019

These marketplaces must be vigilant about not only verifying those listing the properties, but authenticating the homes themselves, explained Chung-Man Tam, CEO of P2P business travel booking site 2nd Address , in a recent interview with PYMNTS. The wider home rental space has been seeing increased fraud in recent years.

Fraud 145

Fraud Security Groups Marketing 145

PYMNTS

DECEMBER 13, 2019

Enter the platforms, complete with algorithms and tools to discover and price-compare any experience or item that can be booked or rented online. Platforms are doubling down on security in the wake of embarrassing data breaches and steady consumer fraud complaints, but it’s a fluid situation.

Fraud 130

Fraud Millennials Comparison Online 130

PYMNTS

JULY 10, 2020

In a filing with the Securities and Exchange Board of India, the country’s second largest state-owned lender said it had reported the Dewan Housing loss to the Reserve Bank of India, the nation’s central bank. Punjab National failed to provide details of the alleged fraud and declined to comment, the Journal reported.

National 134

National Fraud Report Security 134

PYMNTS

AUGUST 21, 2020

How does a travel company increase bookings almost 4,000 percent in just four months in the middle of a global pandemic? For instance, he told PYMNTS that GetMyBoat is partnering with FareHarbor , a local activities-and-experiences booking platform. But the company takes keeping boat owners and renters safe from fraud seriously.

Fraud 317

Fraud US Examples Tools 317

PYMNTS

OCTOBER 14, 2019

However, beyond being an irritant, he noted, one-off friendly frauds like these aren’t a major risk to a firm’s bottom line. Unfortunately, there is a far more malignant form of offer fraud out there that does pose a much bigger risk. The Dark Side Of Offer Fraud . Beating Back Opportunistic Offer Fraud .

Fraud 155

Fraud Mobile Examples System 155

PYMNTS

FEBRUARY 27, 2018

The latest report from eNett International , “ It Pays To Know: Fraud In Travel Payments ,” warns that payments fraud is plaguing the global travel space, though, in this case, the issue is imbedded deep within the travel supply chain itself. B2B Payments a Major Pain Point.

Fraud 104

Fraud Marketing Payments Analysis 104

PYMNTS

FEBRUARY 21, 2020

Some consumers may wish to travel with their pets or book a room that accommodates their disabilities, for example, while others may want to ensure that the homeshares they are renting are LGBTQ-friendly before finalizing their itineraries. The other key factor is security. The Security Factor .

Security 225

Security Fraud Examples Payments 225

PYMNTS

JUNE 14, 2018

The Securities and Exchange Commission’s (SEC) leading authority on bitcoin, cryptocurrency and initial coin offerings (ICOs) has ruled that some well-known cryptocurrencies like bitcoin and Ethereum are not securities. As such, they can expect to come under the regulatory control of the SEC and relevant securities laws.

Bitcoin 159

Bitcoin Security San Francisco cryptocurrency 159

PYMNTS

MAY 10, 2019

Following a claim of fraud by a short seller, shares in eCommerce firm Jumia fell by almost 25 percent by midday New York time on Friday (May 10) and traded at $20.30 Some of the brands in its lineup encompass travel booking service Jumia Flights, online takeout service Jumia Food and classified services Jumia Deals.

Fraud 124

Fraud New York Report Security 124

PYMNTS

JULY 10, 2019

Digital platforms facilitate everything from online shopping to ridesharing to booking a hotel. These platforms promise fast, seamless transactions, which most deliver – but when platforms focus on reducing friction for users, it can backfire and create new vulnerabilities to fraud. Only chargebacks are factored in by more (87.2

Fraud 140

Fraud Strategy Study Comparison 140

PYMNTS

JANUARY 31, 2020

Travel industry services are catering to the thousands of millennial and Gen Z travelers who are booking big trips by augmenting their platforms with online and mobile support. Travel platforms are enabling more online bookings than ever, and 83 percent of U.S. Merchants Need To Rethink Booking.

Industry 168

Industry New York City Online Security 168

PYMNTS

APRIL 25, 2019

Security and the Homesharing Platform. Trust is essential when it comes to online booking, and if homesharing platforms can’t engineer that trust among its users, they won’t be able to compete. The company also works with several security providers to ensure users’ payments remain safe. GDPR and the Future of Home Rentals.

Security 100

Security Data Regulation Mobile 100

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

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

PYMNTS

JUNE 24, 2020

Within days, Braun, 50, was arrested on charges of accounting fraud and market manipulation. Neil Campling, an analyst at Mirabaud Securities, told CNBC that the transaction was structured in such a way that SoftBank took no financial risk. billion euros ($2.1 A KPMG audit was conducted for Wirecard last fall.

Fraud 262

Fraud Groups Report Security 262

PYMNTS

AUGUST 1, 2019

Stitch Fix Kids , for example, sends out a selection of kids’ clothing each month, while GiftLit focuses on curated children’s books. Such boxes represent a small segment of the broader subscription market, but they face the same challenges, including fraud attempts like card-and-wallet tests and account takeovers (ATOs).

Security 108

Security Cards Fraud Survey 108

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

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

JANUARY 8, 2020

In a new PYMNTS interview, Karen Webster talked with Yinglian Xie, CEO and co-founder of DataVisor , about some of the new trends in fraud, and why the travel industry is a big target for increasingly sophisticated criminals. Fraud Types. They are just in the early stages of realizing that nobody is immune to (fraud),” she noted.

Fraud 136

Fraud Online Trends Industry 136

PYMNTS

MARCH 5, 2019

The executive said that among the most important factors in both sides of the relationship – that is, travelers and home owners – are “trust, protection and reliability,” noting that “every traveler should trust that their payment is secure, and every homeowner should feel confident that they receive payments on time.”.

Regional 148

Regional Mobile Security Fraud 148

PYMNTS

JUNE 21, 2019

Former Barclays boss John Varley has been acquitted in a fraud trial regarding payments made to Qatar while the financial crisis was in full swing, according to a report by the Financial Times. The deal will enable PFS to offer an enhanced service to existing and future payroll and corporate clients.

Fraud 108

Fraud Cards Capital Groups 108

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

PYMNTS

JULY 15, 2020

. “With a cashless, plastic-free payment offering, virtual cards are replacing legacy payment methods because they overcome many historic payment challenges, such as labor-intensive reconciliation, fraud exposure and limited data insight,” according to the release.

Cards 188

Cards Fraud Security Payments 188

PYMNTS

SEPTEMBER 15, 2020

Trust is essential for consumers booking a stay at an Airbnb or a Lyft to the airport. They must reassure customers they are safe from viral contagion in sharing economy spaces while ensuring their personal data is secure from rising incidents of fraud. Around The Digital Identity Ecosystem.

Report 206

Report Los Angeles Fraud Utah 206

PYMNTS

SEPTEMBER 6, 2019

Verifying Digital Identity In The Sharing Economy , PYMNTS examines how consumers use sharing economy platforms in their everyday lives and how those platforms are taking measures to defend against digital fraud and identity theft. We need to protect our business as much as we need to protect the security of our customers.”.

Security 125

Security Data Online Regulation 125

PYMNTS

JULY 31, 2020

which admitted booking millions of dollars in nonexistent sales, The Wall Street Journal reported on Friday (July 31). Securities and Exchange Commission (SEC) is investigating Luckin, which is domiciled in the Cayman Islands. Regulators in China are preparing to move against once-hot Luckin Coffee Inc.

Regulation 151

Regulation Fraud Report Security 151

TheGuardian

APRIL 3, 2023

The money was never seen again, and Moore had to stump up a second time to secure the villa through the agent. March is the month when thousands rush to book summer holidays abroad before the best deals are bagged. It’s also the season of scams designed to siphon off travellers’ savings.

Fraud 75

Fraud Security 75

PYMNTS

JULY 16, 2020

One of the unnamed jailed executives in the Wirecard scandal has reportedly admitted guilt to the multi-billion-dollar fraud and money laundering case, according to Reuters. The subject was arrested on suspicion of conspiracy to commit fraud, attempted fraud and aiding and abetting other crimes, according to Reuters.

Fraud 229

Fraud Report Company Payments 229

PYMNTS

JUNE 26, 2020

According to auditor Ernst & Young (EY) , German payment processor Wirecard knowingly gave false statements and was in the midst of “elaborate and sophisticated fraud involving multiple parties around the world” in regards to $2.1 billion on its books that may not exist. The matter concerns the $2.1

Fraud 256

Fraud National Company Marketing 256

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

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

PYMNTS

JULY 6, 2020

Wirecard continues to dominate the headlines in the realm of corporate fraud thanks to $2 billion missing from the company’s books, but it’s not the only company at the center of questionable activity. 34 percent of furloughed employees were asked to commit furlough fraud , according to a survey from U.K.-based

Fraud 148

Fraud Missouri California Report 148

PYMNTS

AUGUST 7, 2019

million Americans hitch rides through ridesharing offerings like Uber or Lyft , for example, and 41 million book travel or accommodations with homesharing services like Airbnb or Hotels.com. Unfortunately, many sharing economy platforms’ verification and authentication processes are poorly equipped to combat the growing risk of fraud.

Report 182

Report Fraud Survey User Experience 182