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PPP Headaches: As Anti-Fraud Efforts Continue, Borrowers & Lenders Face Challenges

Abrigo

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.

Fraud 195
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Healthcare Payments AI, Subscription Churn, Turbo Tax Tool For Stimulus Payments Top This Week’s News

PYMNTS

TurboTax , the online tax preparation service, has said it is launching a free stimulus registration system to help people who don’t need to file a tax return. Approximately 10 million people in the country don’t have to file taxes, and roughly 80 percent can receive a stimulus check. . Trackers and Reports.

Taxes 216
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Walgreens Fights Promotion Abuse With Digital Tracking

PYMNTS

Digital fraud is a long-running problem for merchants, retailers, banks and businesses of all types. Account takeovers and shipping fraud increased by 347 percent and 391 percent, respectively, between 2018 and 2019, and the pandemic has only exacerbated these issues. Developments From The World Of Digital Fraud.

Fraud 255
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How PNC Is Fighting Pandemic-Fueled Financial Crime

PYMNTS

FIs are working on a number of technologies to fight these financial crime attempts, however. This fraud could account for up to $20 billion of the $660 billion program, although the Small Business Administration (SBA) said that it would not hold banks responsible for issuing fraudulent loans and would instead prosecute fraudsters itself.

Fraud 131
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Experts: US House Examines Legislative Actions To Combat Cybercriminals

PYMNTS

Cybercriminals are capitalizing on COVID-19, and they are doing so in tandem with the news cycle,” he said during the virtual hearing. Additionally, Kellerman called for a tax credit to encourage firms in the financial vertical to set aside 10 percent of their information technology (IT) budgets at a minimum toward cybersecurity.

US 227
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FinTech Partnerships With FI Marked By Global Scope

PYMNTS

The cost of technology has lessened, though, opening the door for SMEs to bring bits and bytes to supply chains – lessening reliance on manual processes and invoices of the paper kind, thus eliminating errors. In addition, corporate clients will be able to apply for working capital loans and make vendor and salary payments.

Fintech 115
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Here Are 15 of the Best Deposit Marketing Campaigns Ranked

South State Correspondent

Maybe technology and maybe fraud, but other than that, it is hard to duplicate that success rate. Build a campaign to acquire new customers or, at a minimum, remind your current customers to save for taxes, incentive compensation, emergencies, or any number of other items. Where else can you get consistent triple-digit ROIs?

Marketing 195