PYMNTS

APRIL 27, 2020

As the digital shift continues to keep pace with post-coronavirus shopping behaviors, eCommerce fraud is growing with it. In fact, 22 percent of respondents in a recent TransUnion survey claimed they had “been targeted by digital fraud related to COVID-19.” Consumers know it as the fingerprint or facial recognition on credit cards.

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Fraud Company Security Comparison 164

PYMNTS

NOVEMBER 16, 2020

The risk of fraud continues to climb for organizations of all sizes as the latest data reveals third-quarter spikes in business email compromise and ransomware scams. Plus, the latest allegations of fraud hit the PPE supply chain, and the U.S. Plus, the latest allegations of fraud hit the PPE supply chain, and the U.S.

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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. More than 3.1

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Fraud Cards United States Branding 251

PYMNTS

SEPTEMBER 4, 2019

Visa announced that since their inception, chip cards have reduced counterfeit fraud by 87 percent. . Chip cards are increasingly becoming the norm as usage and acceptance has continued to grow since the EMV standard was first introduced in 2011,” the company said. Counterfeit fraud dollars for all U.S.

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Fraud Cards Tools Data 195

PYMNTS

JANUARY 23, 2020

The European Union’s long-anticipated 5th Anti-Money Laundering Directive (5AMLD), which modernizes security rules to reflect the needs and threats facing today’s economy, took effect in mid-January, and its impacts are already being felt across the payments space. Fiat-focused digital wallets must also boost their security.

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Fraud Security Regulation cryptocurrency 157

PYMNTS

AUGUST 24, 2020

In a case that highlights how anybody — truly, anybody — can be a victim of invoice fraud, federal officials have reportedly charged two brothers in New York State for an alleged $19 million scam targeting Amazon. Fitzhugh warned, "Invoice fraud is not a victimless crime. In a statement, Acting Manhattan U. Canada and the world over.

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Fraud New York United States Security 298

Abrigo

FEBRUARY 28, 2023

You might also like this webinar, "Proactive measures to protect against check fraud and fraud loss." REGISTER now Takeaway 1 Phishing is not a new fraud trend, but the rise of smartphones means text messaging fraud is becoming more common. billion to fraud in 2021, a 70% increase over the prior year.

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Fraud How To Training Trends 195

PYMNTS

JANUARY 30, 2020

Widely publicized data breaches and hacks have made today’s consumers especially concerned about fraud. Cautious shoppers may find comfort in debit, with fraud losses associated with the payment method declining over the past several years. Card fraud is an ever-present threat. Around The Next-Gen Debit World.

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PYMNTS

APRIL 22, 2020

Paay, a startup credit card database storing millions of transactions, has been unsecured for weeks and only now closed again, according to a TechCrunch report. The database works with other payment processors, verifying payments to make sure there is no fraud going on for outside vendors.

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Cards Payments Fraud Data 243

PYMNTS

JANUARY 22, 2020

FinTech solution company Entersekt has upgraded its authentication technology in the DACH region of Europe, according to a release. The company recently announced that the software company Netcetera implemented the authentication system for Bank-Verlag, a company that makes and provides secure services for Germany’s banks.

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Security Payments Cards Fraud 214

PYMNTS

NOVEMBER 2, 2018

1) that a probe by international auditors is underway, examining a fraud that could be $200 million in scope at Aegean Marine Petroleum Network , tied to shell companies that ostensibly did business with the shipping fuel firm. Of that number, 59 were tied to gift cards, memberships, IT equipment and furniture. A Bit Of Victory.

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Fraud Company Massachusetts United States 168

PYMNTS

NOVEMBER 13, 2020

The telecommunications industry is but one of many sectors looking to more securely verify customers and avoid fraud, which remains a growing problem. Robust digital ID verification practices could make many fraud schemes a thing of the past, but many banks and businesses have yet to adopt them.

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Fraud US Mobile Study 242

PYMNTS

AUGUST 11, 2020

Idaho-based Kount has released a new product aimed at preventing insurance fraud as the industry increasingly turns to digital, and even mobile, setups. The product will also, the company said, protect against identity assumption, bot quotes, and “ghost brokering,” which is when fraudsters use fake documents. In a Tuesday (Aug.

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Fraud Industry Idaho Customer Experience 234

PYMNTS

FEBRUARY 12, 2020

As for the areas where scammers managed the biggest hits, business email compromise (BEC), confidence/romance fraud and spoofing were the top three types of crime in terms of monetary losses. BEC fraud does not respect seniority, and it pays exceedingly well.”. billion (or slightly over half) of all losses tracked in 2019.

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Fraud Handbook Security Comparison 253

PYMNTS

OCTOBER 22, 2020

As has historically been the case with commerce security upgrades that roll in by government mandate, the path to European Union adoption of 3D Secure 2.0 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.

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Fraud Online Security Cards 221

PYMNTS

AUGUST 21, 2020

Mobile banking is under constant attack from fraudsters, however, who are targeting both customers’ funds and personal data, such as account numbers, Social Security numbers, payment card data and login credentials. ATMs are common avenues for fraud, however, especially those that are running outdated software. billion by 2024.

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Analytics Fraud ATM Report 266

PYMNTS

NOVEMBER 8, 2018

PNC Bank’s Treasury Management unit is testing a new solution to address card-not-present (CNP) fraud for commercial clients. The company said in a press release Wednesday (Nov. 7) that it is piloting Dynamic CVV2 technology for commercial card customers. “Almost all U.S. “Almost all U.S. ” .

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Fraud Cards United States Online 116

PYMNTS

NOVEMBER 10, 2020

Atlanta payments encryption firm Bluefin is partnering with New York mobile payments processor PAAY to advance eCommerce security. Founded in 2007 by Miles and John Perry, who serves as chief executive officer, Bluefin specializes in encryption and tokenization payment and data security. . Each $1 of fraud costs retailers $3.13. .

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Security New York Atlanta Fraud 233

PYMNTS

OCTOBER 15, 2018

Recent reports indicate an uptick in fraudsters targeting large FIs, and headlines surrounding security breaches and cyberattacks fill the news on a near-daily basis. Visa and Mastercard designed the 3DS protocols and provide them under the names Verified by Visa and Mastercard Secure Code. s upgrades, however. For example, 3DS 2.0

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Fraud Security Mobile User Experience 165

PYMNTS

APRIL 15, 2020

According to the FTC, there have been 18,235 reports of fraudulent activity or fraud attempts related to the coronavirus since Jan. million to fraud. On its website, the FTC breaks down the numbers of fraud cases by state. Fraud cases related to the pandemic have been surging with every passing week.

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Fraud Report Nevada Florida 217

PYMNTS

FEBRUARY 27, 2020

Fraud continues to increase in many areas, despite extensive attempts to bring it to heel. Retail fraud attempts have doubled year over year, for example, while account takeover (ATO) fraud losses recently hit $14.7 billion , and phishing attacks now comprise 30 percent of all fraud attempts. billion to $7.2 million USD).

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Fraud Examples Online Data 150

Bank Innovation

NOVEMBER 16, 2016

This week it was announced that InComm, a transaction solution and prepaid solution industry leader, will be piloting fraud prevention company Tender Armor’s CVV+ product in order to better protect cardholders against card fraud.

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Fraud Cards Online Industry 150

PYMNTS

JUNE 22, 2020

It’s the battle against fraud that can be lost right at the beginning. Bad actors, are, increasingly, targeting online card applications, using stolen personally identifiable information to apply for credit, leveraging those ill-gotten credit lines to make fraudulent purchases. alone topped $10.2 billion last year. alone topped $10.2

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Fraud Cards Risk Management Customer Experience 193

PYMNTS

NOVEMBER 17, 2020

The number of real-time payments has risen dramatically in recent years, and APP fraud has grown alongside it. Bad actors typically perpetrate APP fraud in several ways. APP Fraud Ramps Up. Instances of APP fraud around the globe have continued to rise as real-time payment rails extend their reach.

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Fraud Payments Survey Security 223

PYMNTS

JANUARY 22, 2020

billion chip-enabled consumer cards — credit and debit — are now in use across the world, according to EMVCo , the industry standard organization. Globally, more than 75 percent of all cards are now enabled with EMV chip technology. A multi-layered security approach is critical to thwarting crime and fraud in the digital space.

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Cards Fraud Payments ATM 131

PYMNTS

MARCH 14, 2020

With the coronavirus putting eCommerce front and center, it has unfortunately been joined by its cousin: online retail fraud. According to online security company Signal Sciences , eCommerce retailers deal with an average of 206,000 web attacks per month. “The percent of all eCommerce fraud , is still account takeover.

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Fraud social media Online Retail 230

PYMNTS

JUNE 20, 2019

Retailers focused on combating fraud have credit cards in the cross-hairs of their efforts. But ramping up the war on card fraud can introduce a new risk to companies: false positives. This isn’t merely an issue for the B2C world, however. The False Positive Threat.

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Fraud Payments Cards Strategy 182

PYMNTS

NOVEMBER 16, 2020

Digital identity has become a crucial part of the telecommunications industry as the proliferation of smartphones and the personal data they hold makes security paramount. Such security methods can be critical to preventing fraud that targets mobile users, of which one of the most prevalent types is SIM swap fraud.

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Fraud US Mobile Las Vegas 178

PYMNTS

JANUARY 31, 2020

A 2018 survey found that 40 percent of American financial institution (FI) customers in this age bracket reported debit cards as their go-to payment instruments, while 36 percent favored credit cards. These organizations need to fend off anything threatening, combatting both popular and emerging debit fraud attack methods.

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Fraud ATM Cards Security 148

PYMNTS

DECEMBER 7, 2020

Given the importance of banking, the growing prevalence of online banking and the inherent confidentiality of banking-related personal data, he said he sees the failure to use geolocation — a common but high-value fraud deterrent — as inexplicable. So, the company simply promises to never share or sell location data to third parties.

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Fraud Data Detroit Security 232

PYMNTS

MARCH 15, 2019

The new Digital Fraud Tracker highlights the latest developments in payments fraud, and how different companies are working to keep funds safe from bad actors as payment solutions grow increasingly faster. Around the World of Digital Fraud. Australia’s CNP fraud problems seem to be part of a broader pattern.

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Fraud Payments Security System 153

PYMNTS

AUGUST 11, 2020

No one will call to ask for your bank account, credit card or Social Security number, the FTC said. As in the first distribution of $1,200 checks in the spring, most people will get money direct deposited, or via a debit card or check will be mailed to the address where your taxes were filed.

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Fraud Taxes Survey Cards 174

PYMNTS

JANUARY 30, 2020

Virtual credit cards are one of the more flexible electronic payment methods available, and the world continues its steady march toward greater digital payment use. Virtual cards can improve accounts payable (AP) processes, benefiting both buyers and suppliers by streamlining day-to-day payments, and providing greater control over cash flows.

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Cards Payments Fraud Capital 178

PYMNTS

SEPTEMBER 24, 2018

Digital commerce channels are presenting new opportunities for bad actors, making cybercrime a colossal problem for companies of all sizes. Perhaps more troubling, however, is digital fraud’s projected future. As such, businesses are now investing in their security and fraud prevention technology and solutions.

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Fraud Security Analytics Data 195

PYMNTS

OCTOBER 18, 2018

Mastercard, the payments company, announced on Thursday (Oct. 18) that cardholder signatures will now be optional for the back of credit cards and receipts. In a press release , Mastercard said it is making the changes due to advancements in technology and security. merchants and acceptance for Mastercard.

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Cards Survey Security Fraud 218

PYMNTS

JULY 29, 2020

For example, Stuppy said advanced loyalty programs that allow customers to convert loyalty points to gift cards or transfer them to family or friends “are dream setups for a fraudster.”. But he added that fighting fraud isn’t about building the highest possible wall. Securing A Tempting Target Field. Climbing Fraud Mountain.

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Fraud Branding Customer Experience Security 216

PYMNTS

FEBRUARY 2, 2017

Combating cyberfraud is a “balancing act,” says Sift Science, a fraud detection software company. And the number of things corporations have to juggle to safeguard their data — from the numerous types of fraud to the copious technologies that combat it all — mean cybersecurity is no easy task. Beyond Fraud.

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Fraud Security Payments Survey 100