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US Card Skimming Grew Nearly 5x in 2022, New FICO Data Shows

FICO

For 2022, we saw a significant increase in compromised cards resulting from skimming activity. Total compromise cards were up 368% from 2021, with more than 161,000 impacted cards identified — nearly a 5x increase over 2021. Now that we have data from the entire year to review, we are seeing the alarming trend continue.

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The community bank’s complete guide to building trust

Independent Banker

Building trust in your institution has a lot to do with technology, from implementing strong data security practices to humanizing your online customer interactions. Once, before a holiday weekend, a customer messaged the bank to say that her ATM card wasn’t working. Illustration by Ahoy There. By Ed Avis & Elizabeth Judd.

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Why Digital Driver’s Licenses Are the Future Of ID Verification

PYMNTS

Many nongovernmental groups and organizations are working to make them ubiquitous across the country, including the Secure Technology Alliance (STA), a nonprofit industry association dedicated to developing and improving security technologies for a variety of businesses. Privacy, Security and Constant Updates.

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The Fastest Path To Faster Payments In The US

PYMNTS

billion in prepaid cards. Ironically, the places with the highest check cashing fees are Maryland and Washington, D.C.). Checks, like cash, are a method of payment that every business accepts, and for larger purchases, what businesses would rather accept than a card payment. Of that $106 billion, $58.3 In 2011, the U.S.

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Fintech Fundings: Companies Raise $ Million Week Ending Feb 26

Fintech Labs Insights

Snoopwall landed a cool million for its security solutions. Data security for financial institutions. HQ: Annapolis, Maryland. Loyalty card platform. Credit card rewards optimization . HQ: Riga, Tags: SMB, B2B, ACH, electronic payments, virtual card, insurance claims. FlexScore was bought by United Capital

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Fintech Fundings: 30 Companies Raise $390 Million Week Ending May 13

Fintech Labs Insights

HQ: Glenwood, Maryland. Online debit card security. Tags: Consumer, security, payments, direct debit, online billpay. Source: FT Partners. iPad POS system for the hospitality industry. Latest round: $22.8 million Series C. Total raised: $37 million. HQ: Berlin, Germany. Source: Crunchbase. Healthcare finance platform .

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SAFE Banking Act Gains Cannabis-Friendly Spotlight In Congressional Hearing

PYMNTS

But banks, credit unions and card networks shy away from that industry, despite its revenue potential, due to concerns about federal regulatory punishment. State Bank Northwest has “chosen to not service (cannabis-related businesses) because the compliance and regulatory risks are too great for our bank,” Deckard said. Cash Dangers.

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