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Boston Market Deploys AI To Fight Fraud, Improve ROI

PYMNTS

It can also serve as a powerful tool in restaurants’ fight against fraud, which is becoming an increasingly prevalent issue as bad actors target the flood of customers using digital channels during the COVID-19 pandemic. Payment protection platform Verifi has partnered with digital fraud protection firm Kount Inc.

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FedNow implementation: What fraud and AML professionals need to know

Abrigo

How offering FedNow instant payments affects fraud & AML/CFT compliance What financial crime staff can do to prepare fraud and AML functions for implementing the FedNow Service for instant payments. Would you like other articles on fraud and AML/CFT compliance in your inbox? Instant payments service What is FedNow?

Fraud 195
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Strategies for fighting remote authentication fraud

Independent Banker

As more customers moved online, fraudsters took advantage of new and increasingly inventive opportunities to commit remote authentication fraud. Say a scammer calls a community bank customer and gains their trust by using information obtained from a major data breach. Examples of remote authentication fraud. Online U.S.

Fraud 160
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Mobile Order-Ahead Sector Goes All-In On AI

PYMNTS

That’s a silly simplification of the very serious matter of what AI is doing for the restaurant sector, among others, as online ordering becomes a way of life and not just a lockdown relic. AI is not only being adopted to improve workflows and grow revenues, but has also been enlisted in the fight against fraud.”.

Mobile 289
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NY Man Gets Jail Time For $390K Card Skimming Scheme

PYMNTS

By using secret card-reading devices and pinhole cameras at various locations, Rusu and others were able to commit a widespread bank fraud conspiracy that targeted various banks in Massachusetts, New York and New Jersey from August 2014 to November 2016, according to law enforcement.

San Diego 130
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Now is the time to prepare for the FedNow launch

Independent Banker

2022 will be a big year as we move from development to pilot testing and begin to engage more with financial institutions in active planning,” says Nick Stanescu, senior vice president, FedNow business executive, the Federal Reserve Bank of Boston. “We Our institution has taken a strong focus on fraud as we prepare for FedNow,” Furey says.

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‘Google Checking,’ T-Mobile Data Breach Top This Week’s News

PYMNTS

The data did not reportedly include password information, Social Security numbers or financial information. The cyber thief got a hold of users’ names, billing addresses, phone numbers, plan information, and account numbers. Amazon has opened an online store , establishing a presence on Chinese online shopping site Pinduoduo.

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