PYMNTS

AUGUST 16, 2019

General Electric has been targeted in accusations of massive accounting fraud by the whistleblower that called out Bernard Madoff’s Ponzi scheme, reports in CNBC said on Thursday (Aug. He accuses GE of undertaking “a bigger fraud than Enron” that has left the company “on the verge of insolvency.”

Fraud 125

Fraud Capital Operations Report 125

PYMNTS

APRIL 26, 2019

operations. It’s also struggling with a lack of capital, which prompted the move. In a letter on its webpage, Sinemia said it was ending operations in the U.S. operations,” Sinemia wrote in the letter. Just like any other FinTech company, Sinemia also faces its own challenges of fraud,” the company said at the time.

Operations 122

Operations Fraud Capital Analysis 122

PYMNTS

OCTOBER 22, 2020

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. will ultimately make it over the finish line because, bumps aside, it’s effective and reduces digital sales fraud. They’re in a better position to mitigate the fraud.

Fraud 221

Fraud Online Security Cards 221

PYMNTS

SEPTEMBER 15, 2020

The world needs a FinTech operating system.”. He also cited “banks’ aversion to taking on risk and fraud” in a proactive manner that leads them to create and promote new card offerings. The world doesn’t need another bank,” Poovala told Webster. If you give your card, you can forget about it.”.

System 258

System Operations Fintech Taxes 258

Abrigo

FEBRUARY 5, 2021

You might also like this webinar: "Detecting PPP Fraud: Optimizing Your AML Solution". Takeaway 1 To prevent the kind of fraud that plagued the Paycheck Protection Program in 2020, the SBA has put new measures in place that have created challenges. PPP fraud-prevention challenges arise. New Guidance Out. mail, Craig said.

Fraud 195

Fraud Lending Taxes Regulation 195

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. Serent Capital Invests In Procurement Partners. GUUD has significant operations across Asia, and GUUD executives have publicly announced plans to expand in the region.

Fraud 159

Fraud Capital Regional Security 159

Perficient

AUGUST 23, 2021

Internally, data creates the foundation for increased analytic application of fraud detection, at-risk customer behavior, and improved cross-functional process management. Perficient predicts that AI / ML will influence 30% of customer interactions within the next year.

Data 508

Data Analytics Trends Fraud 508

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? From transaction monitoring to detecting unusual activities and facilitating report filing for reviews and audits, regtech solutions for banks can streamline and optimize compliance operations. So, what are the other benefits of regtech for banks?

Technology 195

Technology Fraud Compliance Regulation 195

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? From transaction monitoring to detecting unusual activities and facilitating report filing for reviews and audits, regtech solutions for banks can streamline and optimize compliance operations. So, what are the other benefits of regtech for banks?

Technology 195

Technology Fraud Compliance Regulation 195

PYMNTS

JUNE 14, 2020

The three companies charged are Richmond Capital Group, Ram Capital Funding and Viceroy Capital Funding. Three merchant cash advance companies are facing a lawsuit from New York Attorney General Letitia James over reportedly practicing illicit measures when loaning money to clients, according to a press release.

Company 198

Company Fraud New York Capital 198

PYMNTS

APRIL 16, 2020

Not only do industry giants have innate name recognition, but they also have colossal advertising budgets and access to cutting-edge mobile ordering technology and features that small operations cannot match. Bad actors are taking advantage of the chaos and bringing about an upswing in digital fraud. Fighting Fraud.

Fraud 130

Fraud Chicago Resources Mobile 130

PYMNTS

APRIL 29, 2019

As part of the agreement, the company must pay restitution to shareholders, as well as implement internal controls and cooperate with the investigations of the former executives allegedly involved in the fraud. Celadon reported $856 million in revenue in 2017 in truckload operations, making it the 13th largest operator in the sector.

Fraud 108

Fraud Indianapolis New York Operations 108

PYMNTS

DECEMBER 19, 2019

Yet, each of these strategies to modernization is a double-edged sword, exposing a bank — and, thus, its partners and customers — to a new breed of fraud risks. This is especially true as banks’ customers expect their FIs to bear the burden of fraud protection. In the U.K., for example, cyberattacks cost an estimated $10.74

Fraud 104

Fraud Payments Security Fintech 104

PYMNTS

MAY 8, 2019

The Indianapolis-based firm, which works to accelerate B2B payments to truck operators, apparently has removed its CEO and COO — the result of a financial accounting scandal at another trucking firm where FreightRover executives had worked. Fraud Allegations. Leadership Changes. Here is what happened, at least according to the U.S.

Fraud 135

Fraud Report Indianapolis Leadership 135

PYMNTS

OCTOBER 20, 2017

Backers at Meritech Capital Partners and Lead Edge Capital led the Series D investment round, according to TechCrunch news, while Index Ventures and Workday also participated. This California-based startup has a particular cybersecurity focus: payments fraud. Cybersecurity. Duo Security. Blockchain. Digital Asset.

Capital 109

Capital blockchain Fraud Security 109

PYMNTS

MAY 6, 2016

Hong Kong is looking to curb the illegal outflow of capital from China, the apparent result of fake trade invoices, reports said on Thursday (May 5). The Hong Kong Customs and Excise Department is now probing the matter, alongside Chinese officials, by looking into banks’ trade financing operations.

Capital 100

Capital Fraud Operations Report 100

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.

Fraud 117

Fraud Data Management Analytics 117

Banking Exchange

DECEMBER 17, 2019

How Banks Are Achieving Smarter Fraud Detection Risk Management Technology Security Feature Feature3 Cyberfraud/ID Theft Operational Risk.

Capital 78

Capital Risk Management Fraud Security 78

CB Insights

JULY 9, 2021

Unit21 , a fraud prevention platform, has raised $34M in Series B. The round drew participation from Tiger Global Management, ICONIQ Capital, Gradient Ventures, A. Capital, and South Park Commons. HOW’S THE COMPANY PERFORMING? It also caters to 50 enterprises including Chime, Intuit, Coinbase, Flywire, Wyre, and Twitter.

Fraud 72

Fraud Company California Analytics 72

PYMNTS

JUNE 21, 2019

The dispute over the Office of the Comptroller of the Currency ‘s (OCC’s) national bank charter, which became available to FinTech firms last year, has reportedly caused technology conglomerates to shy away from a tool that aims to provide nonbank firms with a more streamlined way to operate on a national level. Trackers and Reports.

Fraud 101

Fraud social media cryptocurrency National 101

Abrigo

MAY 24, 2023

“Without full access to the banking and payments system, legal cannabis businesses are forced to operate in the shadows,” said Sen. Without access to traditional banks, legal cannabis businesses can’t access loans and capital or even use basic bank accounts. Sherrod Brown, D-Ohio, in the same hearing.

Lending 195

Lending Fraud Operations Ohio 195

PYMNTS

NOVEMBER 7, 2019

The Bank of England has told HSBC to improve compliance controls for non-fiscal factors like fraud and staff conduct, according to a report by Reuters. Combined, the assets make up one-third of the bank’s capital, according to Stevenson. The shortcomings were pointed out by Prudential Regulation Authority regulators.

Compliance 101

Compliance Fraud Taxes Regulation 101

PYMNTS

DECEMBER 28, 2020

The pandemic has cost more than 300,000 lives in the United States alone, and it has also challenged many institutions — such as credit unions (CUs) — that were never designed to operate on a primarily remote basis. Coast Capital On The Innovations Driving CUs’ Digital-First Future.

North Carolina 197

North Carolina Houston Fraud Innovation 197

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.

Fraud 150

Fraud Software Resources Security 150

PYMNTS

MAY 23, 2016

Banks may not always be up for overhauling their operations with a largely untested, disruptive technology, but new reports suggest the threat of fraud in one area of corporate finance is encouraging financial institutions to adopt distributed ledger technology in growing volumes.

blockchain 115

blockchain Fraud Bitcoin Survey 115

PYMNTS

MARCH 27, 2020

It’s too soon to tell how coronavirus will impact the venture capital ecosystem, but some analysts are turning to the economic crisis of 2008 to make some educated guesses. Venture Partners, while existing backer Chicago Ventures and newcomer Soma Capital also participated, according to a press release. Arkose Labs.

Cards 181

Cards Fintech Capital California 181

PYMNTS

APRIL 26, 2019

Per the attorney general’s filing, messages from executives at the exchange — in at least one case to a payment processor based in Panama known as Crypto Capital — detail what seems to be a precarious financial position. The attorney general’s complaint states that Crypto Capital failed to process redemption orders.

Fraud 134

Fraud Bitcoin cryptocurrency United States 134

Abrigo

JUNE 5, 2023

Banking reports to inform risk management and strategy These reports on capital, growth, and liquidity help financial institutions spot warning signs. Takeaway 2 Reports that assess capital, growth, and liquidity provide banking professionals data to drive decisions.

Report 195

Report Risk Management Capital Data 195

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. Bigger Banks And The Problems With Data Security.

Technology 142

Technology Fraud Data Security 142

PYMNTS

AUGUST 20, 2020

million SMBs operate across the country and account for 64 percent of new jobs. Only 35 percent of such businesses make it past their first decade in operation. One of the most pressing issues plaguing SMB lenders is the risk of fraud. Fraud targeting SMB lenders has increased by 7.3 They represent 99.9

Fintech 177

Fintech Fraud Lending Regulation 177

PYMNTS

SEPTEMBER 17, 2020

“We are innovating the underlying infrastructure that financial institutions use to make transactions run even faster end-to-end, and at the same time further reducing costs for the community through industry-shared services in the areas of cyber, fraud and compliance," said Javier Pérez-Tasso , SWIFT’s CEO, in a statement. “We

Innovation 348

Innovation Payments Compliance Data 348

PYMNTS

FEBRUARY 24, 2020

These firms are finding that managing both systems in the cloud offers the flexibility and security needed to streamline invoicing and cut costs, while keeping operations running as smoothly and accurately as possible. Across The Next-Generation AP Automation Space. Growth encouraged the media company to switch to automated processes.

Software 223

Software Fraud System Survey 223

PYMNTS

NOVEMBER 30, 2020

While the business email compromise (BEC) scam is a global pain point for businesses, this week's B2B Data Digest looks at the latest figures in B2B payments fraud and finds BEC heating up in one particular region: Australia and New Zealand. Another business, homewares company Sage and Clare, was out $7,360 after falling for such fraud.

Fraud 177

Fraud Cyber Security Data Software 177

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.

Fraud 100

Fraud US Data System 100

Abrigo

MARCH 22, 2023

A lack of transparency regarding the nature of business for an account with significant funds movement, mainly when the stated line of business is telecommunications, electronics, import/export, or consulting, with no additional details provided. Businesses in unrelated industries that have an ongoing financial relationship with significant funds (..)

Training 195

Training Fraud New Jersey Regulation 195

PYMNTS

FEBRUARY 19, 2019

Further proof of that came recently from a young company based in San Francisco called Castle , which helps eCommerce operators such as Touch of Modern and Rue La La to defend against that type of fraud. The new capital will help fuel hiring and other growth, the company said. Fraud Prevention Innovation.

Retail 118

Retail Fraud Case Study San Francisco 118

PYMNTS

DECEMBER 8, 2020

Jumio said the offering can reduce operational costs by as much as 90 percent, eliminate in-person visits and paper costs, and simplify archival processes. The company said its technology prevented one fraud attempt every 51 seconds during the month, totaling 22,000 thwarted attacks.

Video 211

Video Report Meeting United States 211