PYMNTS

MARCH 11, 2020

FIs in the United Arab Emirates are also looking to get ahead of fraud with improved digital KYC practices. Taking A Local Approach To Fighting Money Laundering, Fraud Worldwide. Payment processing providers need to ensure they do not accidentally onboard malicious merchants that would abuse their services for laundering money.

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Fraud Payments Guidelines Regulation 150

PYMNTS

NOVEMBER 23, 2020

And even before then, as evidenced by an earlier conversation between Karen Webster and Drew Edwards , CEO of Ingo Money , mobile deposit fraud was increasingly becoming a favorite vector for criminals. Back then, Edwards noted that mobile check fraud was escalating so much that some banks were shutting off the feature entirely.

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Fraud Mobile Technology Course 252

PYMNTS

FEBRUARY 13, 2019

Merchants saw a drop in card-present fraud due to the increased adoption of Europay, Mastercard and Visa (EMV) chip cards, Visa said. Merchants who have upgraded to chip technology saw a decrease of 80 percent in counterfeit fraud dollars in September of 2018 when compared to September of 2015. About 98 percent of overall U.S.

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Fraud Cards United States Branding 251

PYMNTS

JULY 29, 2020

As virtual marketplaces displace (and replace) the physical variety at a dizzying pace, payments speed and security are paramount concerns. When transactions and payments occur cross-border, those concerns are doubled. It takes a preemptive approach to fraud. That’s a sound strategy, but not without risk.

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Payments Fraud Customer Experience Resources 269

PYMNTS

OCTOBER 1, 2020

Kount , the Boise, Idaho-based Software as a Service (SaaS) platform designed to simplify fraud detection and improve profitability, announced it has partnered with Verifi , the payment protection and management company. In June, Visa signed an acquisition agreement with Verifi.

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PYMNTS

FEBRUARY 19, 2020

What’s clear is that fraud decisioning solutions have never been more necessary, as cybercrime enters a new phase of sophistication, diabolical creativity and global scale. Bottom line: Fraud losses are expected to hit $48 billion annually by 2023 – more than double the 2018 losses. Sealing It.

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Fraud Pennsylvania Trends Security 131

PYMNTS

OCTOBER 22, 2020

That] keeps them from getting in trouble with the card brands, and obviously avoids the significant costs that come along with fighting, investigating and resolving chargebacks. s struggles toward universal adoption in the European Union is reminiscent of EMV chip cards’ rise — a similar journey that aimed to solve a different fraud problem.

Fraud 221

Fraud Online Security Cards 221

PYMNTS

AUGUST 5, 2019

Perhaps that’s why, in the midst of the seemingly never-ending stream of headlines about data breaches, account takeovers, stolen credit cards and online fraud , the notion of “check fraud” seems something of an outlier for the up-and-coming fraudster looking to make a decent living. The Whole New World of Check Fraud.

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Fraud Payments Mobile Handbook 162

PYMNTS

NOVEMBER 23, 2018

To counter fraud as the holiday season approaches, Best Buy , Target and Walmart made changes to their gift card programs. With the new policies, changes include lowering the transaction limits on the sale of store-branded gift cards. The moves were announced by the attorneys general of Pennsylvania and New York, Reuters reported.

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Fraud Cards Retail New York 156

PYMNTS

JUNE 22, 2020

It’s the battle against fraud that can be lost right at the beginning. There’s increased urgency on the part of financial institutions (FIs) to spend more time and money on battling fraud at the point of onboarding, especially as card-not-present transactions surge in the lingering wake of the coronavirus. alone topped $10.2

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Fraud Cards Risk Management Customer Experience 193

PYMNTS

JULY 1, 2019

In payments fraud, it pays — literally — to change up the game a bit. The report shows the use of malicious emails, rather than attachments, is on the rise — which darkreading.com said comes along with new variants of impersonation fraud. Individual Fraud Cases, Here and Abroad. The data across a sample set of 1.3

Fraud 154

Fraud Report Minnesota Branding 154

PYMNTS

JANUARY 21, 2020

Just when you think there are no surprises left, this statistic drops: 60 percent of organizations recently polled had no idea their customer data had been breached, because their payments system and process is too opaque to detect it. The digitized trust that enables the payments world to operate doesn’t just backfire on Amazon and Alibaba.

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Payments Source

AUGUST 22, 2018

Account takeover (ATO) fraud currently drives the largest fraud losses at North American financial institutions within digital channels, according to a new report from Aite Group and Early Warning, the bank organization that operates the Zelle payment network brand.

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Fraud Data Mobile Payments 92

PYMNTS

MARCH 12, 2020

Payment processors typically integrate into back-end business software and help merchants accept funds, but their role exceeds helping companies pay and be paid. Payment processors expanding their operations into new industries and markets have their work cut out for them, however. Understanding The Merchant Sector.

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Fraud Analysis Regional Examples 130

PYMNTS

JULY 3, 2020

FIs confronting this new reality have worked hard to redesign their fraud-fighting approaches to suit the new commercial landscape. . You’re really wanting to start with almost a brand new transaction history.” . Defending Agains Fraud During Periods Of Reopening .

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Fraud Cards Tools Florida 180

PYMNTS

DECEMBER 13, 2019

Platforms are doubling down on security in the wake of embarrassing data breaches and steady consumer fraud complaints, but it’s a fluid situation. The happier story, by comparison, is payments. Within less than five years, payment platforms will be valued at $154 billion annually, much of that in the travel markets.

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Fraud Millennials Comparison Online 130

PYMNTS

JANUARY 26, 2017

Mastercard is teaming up with Oversight Systems to help government agencies detect payment fraud, according to a new announcement. 25) that it will collaborate with Oversight Systems to offer government agencies their collective data analytics and fraud detection solutions. The credit card conglomerate said Wednesday (Jan.

System 100

System Fraud Payments Analytics 100

PYMNTS

MAY 19, 2020

based in Sao Paulo, inadvertently left hundreds of gigabytes of its customers’ personal and payment-related information publicly available online. The leaked information also includes online payment account details with access for nearly 40,000 wirecard.com.br The Brazil cosmetics company that bought Avon Products Inc. Natura & Co.

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Insights on Business

NOVEMBER 22, 2017

The changes we see in the global payments landscape, driven by innovative technologies, are fundamentally changing the industry, but they come with a brand new set of challenges. Over the past decade, sophisticated fraudsters have learned to rapidly scale up their attacks, making them more skilled at exploiting payment systems.

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Fraud Payments Innovation Industry 125

FICO

NOVEMBER 7, 2022

Fighting Scams and Authorized Push Payment Fraud in the US. US regulators seem poised to update the status quo for bank liability for authorized user/authorized push payment fraud, but just how big is the potential? In multiple geographies around the world, there has been a strong focus on authorized push payment fraud.

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Fraud US Payments South Carolina 52

Payments Dive

SEPTEMBER 25, 2018

Online fraud is becoming more and more sophisticated. One of the results of this arms race is the recent surge in ATO – account takeover – attacks, a form of fraud which is particularly difficult to detect. In 2017, ATO led to $5.1 billion in losses, a staggering 122% increase over the $2.3 billion lost in 2016.

Branding 170

Branding Fraud Online 170

PYMNTS

OCTOBER 14, 2020

Disneyland, which recently began to reopen, announced that its theme park will enable more robust mobile ordering options and payment methods at park dining locations than before the pandemic. Fast food giant Burger King is also exploring alternative ordering options, including a brand-new restaurant concept.

Analytics 161

Analytics Fraud Data Mobile 161

PYMNTS

FEBRUARY 26, 2019

More consumers are also using mobile apps for the rewards points and perks, as well as for the fast payment experience. As the mobile app space gets more saturated, most brands are leaning hard on their loyalty and rewards programs for a boost. However, the rise of mobile ordering also comes with growth in account takeover fraud.

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Fraud Mobile Branding User Experience 186

PYMNTS

JULY 2, 2020

Less than 30 percent of credit union decision-makers say their CUs prioritized loyalty innovations in the past three years, however, ranking the priority behind fraud management, real-time payments, digital wallets and other initiatives. The Member-CU Loyalty Disconnect .

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Innovation Branding Tools Innovation Strategies 155

PYMNTS

NOVEMBER 23, 2018

But those illegal marketplaces — often called the “Dark Web” — also present a juicy opportunity for those fighting fraud to detect and even preempt criminal activities than cost businesses revenue and, often, parts of their brand reputation. Dark Web’ doesn’t mean anything,” Rogers told PYMNTS. Early Warning Value.

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Fraud Cards Data Maine 184

PYMNTS

OCTOBER 24, 2019

A new survey has found that the biggest obstacles hindering online retailers from doing business abroad is fraud prevention, and currency and payment processing. retailers ship outside the country due to fraud concerns, as well as the challenge of accepting foreign currencies and payments.

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Survey Fraud Retail Online 101

PYMNTS

MAY 14, 2020

In a recent conversation with PYMNTS’ Karen Webster, Miller discussed the impact of shifting buyer habits on merchants’ digital sales strategies, with optimized back-end payment processes essential to delivering a powerful customer experience on the front end. Brand Loyalty’s Surging Importance.

Payments 169

Payments Branding Customer Experience Strategy 169

PYMNTS

FEBRUARY 23, 2020

Reginald Fowler, “an alleged operator behind payment processor Crypto Capital , was charged with wire fraud” on Friday (Feb. This is in addition to charges of bank fraud, an unlicensed money transfer operation and conspiracy. Fraud has become a concern with cryptocurrency around the world.

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The Financial Brand

FEBRUARY 6, 2024

This article Mastercard’s Innovation Chief Talks GenAI, eCommerce and Fighting Fraud appeared first on The Financial Brand. Generative AI brings increased possibilities and increased risks to both business and consumer payments.

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Fraud Innovation Branding Payments 34

PYMNTS

OCTOBER 17, 2018

A new report from the Federal Trade Commission (FTC) says that fraudsters are increasingly requesting to be paid with gift cards, with some even asking for certain brands such as Google Play and iTunes gift cards. They may even call iTunes cards ‘payment vouchers.’

Cards 174

Cards Payments Fraud Google 174

PYMNTS

DECEMBER 13, 2016

With headquarters in King Of Prussia, Pennsylvania, Radial provides major brands and merchants with fraud, payments and tax solutions, as well as a host of other commerce technology solutions. “We We’ve settled into providing services as a payments and fraud business.”. “We’ve The company boasts a 99.7

Fraud 100

Fraud Virgin Islands Pennsylvania Taxes 100

PYMNTS

JULY 16, 2020

Don’t look now, but Facebook just took another big step into the world of online shopping and digital payments. On Thursday (July 16), Facebook announced the launch of Instagram Shop, an “in-app shopping destination where people can discover products and brands they love from across Instagram.”.

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United States Payments Branding Fraud 151

PYMNTS

JULY 15, 2020

Another involves heightened fraud vectors swimming like sharks around digital-first first-timers. Loyalty, on the other hand, is looking all rainbows-and-unicorns again as banks and brands and pull out the stops to kickstart cashflow and fast-track a recovery. Loyalty and fraud know each other, by the way. Defending Trust.

Fraud 150

Fraud Mobile Customer Experience Online 150

Gonzobanker

AUGUST 3, 2023

The time has come for some truth on the world of payment card flips. Traditionally, bank and credit union card issuers have benefitted financially from the fierce competition between the Visa and Mastercard brands. And they don’t get incentives from brand deals when transactions route via dual message PIN.

Cards 135

Cards Payments Branding ATM 135

PYMNTS

OCTOBER 15, 2018

Both solutions provide increased fraud protection to online transactions made via debit or credit cards. The evolution of payment protection. offers a seamless and convenient payment experience to customers. Instead, these processes have been integrated into the site’s existing shopping and payment experiences.

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Fraud Security Mobile User Experience 165

PYMNTS

SEPTEMBER 21, 2018

They are buying fraud tutorials and data from other criminals online. The 2018 holiday shopping season has already started for people and organizations bent on fraud. In a new PYMNTS interview, Tricia Phillips, SVP of product at Kount , discussed the fraud trends for the upcoming fourth quarter. Fraud Headstart.

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Fraud Retail Online Course 145

PYMNTS

NOVEMBER 19, 2019

The fact that fraud is on the rise is not new, nor is it surprising that banks are turning to artificial intelligence (AI) and machine learning to fight back. In the latest Digital Banking Tracker , PYMNTS looks at how banks are currently approaching their use of AI and machine learning in fraud protection and technology innovation.

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Fraud Digital Banking Innovation Data 109