PYMNTS

SEPTEMBER 3, 2020

Those new avenues of fraud have leveraged hallmarks of the current pandemic — fears over public health and concerns about stimulus checks issued by the government — to snare unwitting victims. . . According to some estimates, as many as 22 percent of Americans have been impacted by COVID-related fraud. . .

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PYMNTS

APRIL 8, 2019

An Israeli startup that creates anti-fraud services that deal with online transactions wants to raise $200 million for expansion, according to a report in Bloomberg. Fraud is becoming an increasingly more common problem in the eCommerce sector, and is estimated to cost merchants about $130 billion over the next five years. “At

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PYMNTS

JANUARY 3, 2019

A new study has revealed that retailers will lose around $130 billion in digital CNP (Card-not-Present) fraud between 2018 and 2023. A layered FDP (Fraud Detection & Prevention) solution naturally helps directly preventing fraud, but it also offers major gains in terms of recovering potentially lost revenue through false positives.

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PYMNTS

NOVEMBER 18, 2020

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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PYMNTS

DECEMBER 7, 2020

Today in B2B payments, Revolut launches a new solution for its business customers, and MonetaGo collaborates to combat trade finance fraud. Plus, Pioneer Bank sues over MyPayrollHR scandal, Procurement Partners secures new funding, and ImagineTime partners on FinTech for accountants. Serent Capital Invests In Procurement Partners.

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PYMNTS

JULY 31, 2019

Krebs On Security is reporting that the alleged Capital One hacker may have also targeted and stolen data from other corporations. Krebs on Security joined the group and combed through months of posts. Capital One Chairman and CEO Richard D.

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PYMNTS

NOVEMBER 27, 2020

More consumers than ever are turning to online shopping channels to meet their needs during the pandemic, but many are also aware that cybercriminals are looking to capitalize on this stepped-up online activity to steal their card data. Firms are also prioritizing security as they transact online more heavily as well.

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PYMNTS

DECEMBER 18, 2020

Digital trust-and-safety company Sift said that 2020 has been a “banner year” for online shopping sales, but that scammers have modified their approaches to take advantage of the boom, according to an announcement. Digital fraud is a longstanding issue for retailers and banks. The pandemic has only made these issues worse.

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PYMNTS

MARCH 1, 2019

Cybersecurity returned to the top of the B2B startup investment list as three companies in the enterprise security realm landed nearly half of the $246 million in B2B venture capital this week. Commerce Ventures, Flint Capital, Two Sigma Ventures, Synchrony and Sorenson Capital also participated, according to reports.

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PYMNTS

AUGUST 1, 2019

UniCredit , in a memo to its staff on Thursday, said that an internal investigation showed no evidence that a recent data breach at Capital One involved any of its own data, according to a report by Reuters. She is thought to have stolen data on more than 100 million Capital One customers from an Amazon cloud service.

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PYMNTS

DECEMBER 11, 2020

Capital One Halts BNPL Transactions On Its Credit Cards. Capital One Financial Corp is putting a stop to buy now, pay later (BNPL) transactions on its credit cards, calling the dealings “ risky ,” for both consumers and banks. to advance secure, contactless transactions as stores reopen amid COVID-19 restrictions.

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PYMNTS

APRIL 16, 2020

You have a limited amount of capital and resources, [but] you want to stay current, which is hard to do,” CEO Gail Taggart said in a recent interview with PYMNTS. Bad actors are taking advantage of the chaos and bringing about an upswing in digital fraud. Fighting Fraud.

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PYMNTS

OCTOBER 28, 2019

ID verification startup IDnow has received a $40 million growth equity investment from private equity group Corsair Capital, according to reports. The segment of ID verification is growing, and other startups in the field, like Onfido and Jumio, have raised large amounts of capital in the last few years.

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PYMNTS

JULY 31, 2019

One of Italy’s most well-known banks, UniCredit, said that it was going to start its own probe into the Capital One data breach, according to Reuters. . “On On July 30, UniCredit became aware that its name has been mentioned in relation to the Capital One issue,” the bank said in a statement on Wednesday (July 31). Reuters reported.

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PYMNTS

JANUARY 28, 2020

Combatting aggressive online fraudsters calls for asymmetrical strategies that confound mal-bots with superhuman processing power. The matter is explored in detail, with a special focus on threat intelligence, in The Digital Fraud Tracker ® for January 2020, a PYMNTS and DataVisor collaboration. million per incident.

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Fraud Data Big Data Strategy 143

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? But with regtech in banking, functions such as customizing fraud scenarios to match your institution’s risk tolerance are simple, saving you time, effort, and potential regulatory fines. The staff and support are very friendly, helpful, and responsive."

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Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? But with regtech for banks, functions such as customizing fraud scenarios to match your institution’s risk tolerance are simple, saving you time, effort, and potential regulatory fines. The staff and support are very friendly, helpful, and responsive."

Technology 195

Technology Fraud Compliance Regulation 195

PYMNTS

JANUARY 14, 2021

Experts predicted that online commerce over the holidays would increase 35 percent from the previous year, while brick-and-mortar retail sales were expected to decline by 4.7 percent — a large jump even considering the gradual, long-standing trend toward increased online commerce. How Swap.com Stomps Out Fraud.

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PYMNTS

MARCH 22, 2018

Fraud detection startup Sift Science has raised $53 million in a series D round, bringing its total amount raised to $107 million. The startup’s previous investors include Reddit’s Alexis Ohanian, Salesforce’s Marc Benioff, PayPal cofounder Max Levchin and venture capital firm Andreessen Horowitz.

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PYMNTS

AUGUST 13, 2020

By comparison, the first 3-D Secure (3DS) technology provides consumers with a user experience marked by lengthy times for processing and verification. The company reports that retailers selling through eCommerce are experiencing record sales numbers, but fraud rates are also on the uptick. Merchants pay $3.13

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Technology User Experience Fraud Comparison 248

PYMNTS

DECEMBER 17, 2019

Headlines are filled with reports of service outages and data breaches , and both banks and consumers are contending with rising fraud concerns as digital banking takes off. Fraud threatens everyone, yet customers rely on their banks for protection. FIs around the globe are also grappling with faster.

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Technology Fraud Data Security 142

BankInovation

NOVEMBER 12, 2021

Shifting consumer behavior toward more online transacting and financial services — and rising online fraud — are among the drivers behind the rapid growth of automated identity verification technology provider Socure, which this week closed a $450 million series E funding round. million in 14 […].

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Bank Innovation

SEPTEMBER 7, 2017

EXCLUSIVE—Cloud infrastructure and data analytics are becoming more and more integral to financial services, and Capital One is one bank ahead of the curve. “We We are a very data-driven company, we want to bring the bank to the customer,” Linda Apsley, vice president of data engineering at Capital One, said of the bank’s use of […].

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FICO

NOVEMBER 24, 2020

Fraud has spiked during the pandemic , with criminals upping their game as consumers swing into holiday shopping mode. Read on for five powerful fraud-fighting tips to help you break out of the 2020 doldrums and end the year with a little less stress! Like COVID, Fraud Is Rampant. It Pays to Protect Yourself.

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PYMNTS

NOVEMBER 20, 2019

This rampant availability of users’ data makes it easier for bad actors to wreak havoc and commit fraud. She recently spoke to PYMNTS about how Scotiabank has revamped its fraud strategy in recent years. “I The increasing sophistication of fraud attacks has led Scotiabank to reassess how it employs AI, ML and automation.

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PYMNTS

NOVEMBER 3, 2019

Capital One saw an outage on Friday (Nov. Capital One is experiencing a technical issue impacting customer money movement, including direct deposits, and the ability for some customers to access accounts. Capital One saw an outage on Friday (Nov. We greatly apologize for the inconvenience,” Capital One said in a tweet on Friday.

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PYMNTS

DECEMBER 8, 2020

Many of these processes had begun to shift to digital channels within the past several years, however, and the health crisis has caused the online shift to pick up steam at an incredible pace. The company said its technology prevented one fraud attempt every 51 seconds during the month, totaling 22,000 thwarted attacks.

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Abrigo

MARCH 24, 2020

Key Takeaways We can learn about potential fraud from previous cases such as Italy. Fraudsters capitalized on vulnerabilities from shifts in daily life due to coronavirus. Fraudsters capitalized on vulnerabilities from shifts in daily life. the elderly).

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PYMNTS

NOVEMBER 25, 2019

Sweden-based Detectify, a crowd-based online security company that incentivizes “elite hackers” to help developers stay abreast of security issues, has raised €21 million in a funding round, according to a report. This methodology also ensures the latest protection.

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PYMNTS

MAY 4, 2017

To help grow its engineering and fraud teams and build out its machine learning Guaranteed Fraud Protection enterprise offering, solutions provider Signifyd today announced its Series C round of $56 million in funding. He said “Signifyd is emblematic of the range of industries that can be reimagined with machine learning and AI.

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PYMNTS

APRIL 21, 2016

Forter, the fraud prevention company known for its automated, real-time Decision-as-a-Service solution for online merchants, announced today (April 21) that it’s closed a $32 million Series C funding round led by Scale Venture Partners. Fighting fraud is a moving target. which shifted more fraud online.

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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.

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PYMNTS

AUGUST 4, 2019

The woman responsible for the Capital One hack reportedly pulled it off through a vulnerability in the cloud. Thompson, on a charge of computer fraud and abuse. In fact, security professionals have been warning about it for years. Thompson even boasted about using techniques to access the sensitive data in online forums.

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PYMNTS

MAY 21, 2020

About 14 percent of active troops facing financial fraud issues said someone they know, even a family member, was the one who had misused their data. million fraud cases reported that year. They’re 22 percent more likely to report misused data to open new accounts, particularly from credit cards. The correlation isn’t random.

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PYMNTS

JUNE 28, 2018

But the recent thefts, along with other attempted and completed cyberattacks, demonstrate why payments officials in the region are expressing fresh concern about financial security there. Fraud is a Top Worry. The lack of security cooperation between bankers and regulators also comes up for blame. Growing Awareness.

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PYMNTS

JANUARY 13, 2021

billion planned acquisition of Plaid after objections stemming from a Department of Justice (DOJ) antitrust lawsuit, which said it would put Visa in a position to maintain a monopoly in the online debit card market. 13) on the Nasdaq Global Select Market and the Nasdaq Capital Market under the symbols “BTRS” and “BTRSW,” respectively.

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PYMNTS

JANUARY 10, 2017

It’s early in 2017, but fraud looms like Nosferatu chancing upon the sleeping maiden. Yes, that is billions with a B, and a capital B, as it represents the staggering amount that merchants lost last year, in the United States alone, from false declines, as estimated by BI Intelligence.

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