PYMNTS

SEPTEMBER 24, 2018

Perhaps more troubling, however, is digital fraud’s projected future. Recently published research noted global fraud losses could top $6 billion by 2021, more than doubling the $3 billion lost worldwide in 2015. As such, businesses are now investing in their security and fraud prevention technology and solutions. All told, U.S.

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PYMNTS

SEPTEMBER 30, 2019

A recent study about how people respond to scammers shows that consumers are more likely to become victims on social media and online marketplaces than over the phone, The Wall Street Journal reported on Sunday (Sept. The gift cards are sold at a discount in exchange for cryptocurrency.

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PYMNTS

JANUARY 23, 2020

5AMLD’s impacts include strengthening anti-money laundering (AML) and counter-terrorist financing (CTF) regulations in the cryptocurrency space — something that has not pleased all the affected crypto companies. Worldpay On Modernizing Security To Foil eCommerce Fraud. Around The AML/KYC World. Get the full story in the Tracker.

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PYMNTS

DECEMBER 4, 2020

This week, Stripe introduced banking services, we get a glimpse of the EU's upcoming Digital Services Act and PYMNTS' data reveals online purchases ruled Black Friday. Mastercard Intros Mobilized Virtual Cards; Defines Intersection Between Functionality And Security. But without support for mobile wallets, v-card adoption can lag.

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Cards Data Mobile Survey 151

Perficient

JANUARY 27, 2022

The American public has long held and transferred money in digital forms, including bank accounts, online transactions, or payment apps (i.e., While cryptocurrencies have been widely invested in as a commodity equivalent, none have been widely adopted as a means of payment. Venmo and Paypal).

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PYMNTS

JULY 15, 2019

The rapid growth of cryptocurrency has come with closer scrutiny and a call for tighter anti-money-laundering (AML), know-your-customer (KYC) regulations. The anonymous nature of cryptocurrency, coupled with its irreversible transactions, is especially attractive to scammers and fraudsters.

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PYMNTS

OCTOBER 7, 2020

With transactions that become irreversible almost instantaneously, bitcoin and other cryptocurrencies are winning new converts — among scammers eager to avoid credit card chargebacks that can eat into their ill-gotten gains. So, use your credit card to buy cryptocurrency that you give a scammer and you might be stuck.

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FICO

NOVEMBER 22, 2021

Not to mention, the window for fraud has grown because retail events kicked off in October to counter concerns about supply chains and logistics. Growth in e-Commerce has Seen Fraud Surge. The fraud problem has gone viral. France and Germany have seen fraud increase during the pandemic. In the U.S.

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Abrigo

JANUARY 31, 2023

Takeaway 2 Banks should be proactive in understanding fraud trends and FinCEN priorities to prepare for future rulemaking. Increased fraud According to the Federal Trade Commission , consumers lost more than $5.8 billion to fraud in 2021, a 70% increase over the prior year. That represents nearly 2.8

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PYMNTS

FEBRUARY 26, 2020

Software developer and Ukrainian native Volodymyr Kvashuk, 25, from Renton, Washington, worked for Microsoft from 2016 to 2018, and was tasked with testing Microsoft’s online retail sales platform. He took advantage of that access to steal currency stored value (CSV) such as digital gift cards that he then resold on the internet. .

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PYMNTS

SEPTEMBER 23, 2020

A recent study from PwC found that 47 percent of companies had experienced fraud at least once in the past two years, with a grand total of $42 billion in funds stolen over this period of time. There were 223,163 cases of identity theft that year across all generations, with 42 percent of them consisting of bank and credit card fraud.

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Technology Report Fraud Study 208

PYMNTS

OCTOBER 4, 2019

Once upon a time in the 1960s, banks were building a series of one-off card-based solutions , much the way today in the ending days of the 2010s we see global digital banking, mobile wallets and alternative underwriting schemes building one-off tech-based solutions for financial services products. Losses related to fraud are valued at $14.7

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PYMNTS

MARCH 30, 2020

Debit cardholders often choose this payment method because it is more secure than carrying cash — which cannot be recovered if lost — and may safeguard them against spending more than they have, which is not the case with credit cards. Rising generations show a keen interest in debit cards, according to a new report.

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Cards Security cryptocurrency Payments 165

PYMNTS

JUNE 5, 2019

According to a report from Quartz , “over the past seven years, a New York City-based fraud ring allegedly stole more than $19 million worth of iPhones by posing as cell phone subscribers to get new devices at little or no cost. Counterfeit Debit Cards. Another relatively fresh digital scam involves cryptocurrencies and diamonds.

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cryptocurrency Fraud New York City social media 132

PYMNTS

APRIL 15, 2019

The site first emerged in fall of last year, when the creators started advertising it on forums where hackers sell stolen payment card details. The marketplace operators sell the data to cybercriminals who use it for identity theft, online fraud and other crimes – and the data is worth anywhere from $5 to $200.

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PYMNTS

NOVEMBER 11, 2019

Governments are tightening know your customer (KYC) and anti-money laundering (AML) requirements on various industries out of increasing concern over fraud threats. The Bank of Thailand is exploring new KYC approaches, announcing plans to pilot online biometric KYC checks on customers seeking to open savings accounts.

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PYMNTS

AUGUST 23, 2019

One common criticism of bitcoin and other cryptocurrencies is that — beyond the wild price swings and uncertain regulatory climate — the digital coins are not widely accepted by merchants on any grand scale. In simple terms, SPEDN processes transactions made with cryptocurrencies such as bitcoin, Ethereum and Litecoin, among others.

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cryptocurrency Bitcoin Course Cards 195

PYMNTS

OCTOBER 26, 2020

million in discounted bitcoin in exchange for gift cards — an amount that a report from Arcane Research says is half Paxful's trade volume, Cointelgraph reports. Trade of bitcoin for gift cards, the report says, comes out to 48 percent of Paxful's revenue. On P2P marketplace Paxful , traders are selling up to $16.2

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Bitcoin cryptocurrency blockchain Video 169

CFPB Monitor

JULY 19, 2022

On July 13, 2022, the House Committee on Oversight and Reform, Subcommittee on National Security held a hearing entitled “Protecting Military Servicemembers and Veterans from Financial Scams and Fraud.” Malini Mithal testified that the FTC received over 200,000 reports of military fraud in 2021, totaling over $267 million in losses.

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PYMNTS

APRIL 18, 2019

million in cryptocurrency. ” The three men allegedly used a system to streamline their revenue as well, funding prepaid debit cards with bitcoin and withdrawing it as cash. Over the course of their operation, the men shipped more than 1,000 packages to buyers in 43 states, and laundered $2.3

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ATM Online New York Bitcoin 100

PYMNTS

APRIL 5, 2019

Dozens of cybercriminal groups have found a home on Facebook , using the platform’s online marketplace to sell illegal services such as stolen credit card information, as well as account theft and spamming tools, according to Cisco Systems’ Talos security unit.

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Groups social media Fraud cryptocurrency 190

PYMNTS

NOVEMBER 3, 2019

Others complained that they could not use their debit cards. She was also accused of stealing computer power to mine cryptocurrency, a practice colloquially known as cryptojacking. . We sincerely apologize for the inconvenience.” This outage marks the latest headwind for Capital One after it disclosed a data breach in July.

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Online Capital Data cryptocurrency 100

PYMNTS

JUNE 26, 2020

The CEO of Crypto.com, a Wirecard Card Solutions card issuer, vowed to issue refunds to its customers hours after the United Kingdom’s financial regulator froze German payment processor Wirecard’s cash and assets. “We TenX, the London-based cryptocurrency payment platform, is also a Wirecard issuer.

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cryptocurrency Regulation Cards Course 171

PYMNTS

JULY 20, 2020

Plus, Mastercard is expanding its crypto card partner program. eBay is reportedly close to selling its classified ads unit to Adevinta ASA, the Norwegian online marketplace, for about $8 billion or more. The auction website is refocusing its mission on consumer-to-consumer and business-to-consumer online sales.

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Payments Cards cryptocurrency Technology 141

South State Correspondent

FEBRUARY 14, 2022

Businesses and households that need an inventory, valuation, repair, or risk tracking (fraud, theft, etc.) As we discussed in our primer on defi and blockchain ( HERE ), part of the allure of cryptocurrency is that it transfers the payment’s message (information about the transaction) and value simultaneously.

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blockchain cryptocurrency Data Payments 195

PYMNTS

JANUARY 19, 2021

In financial services, in the eternal war to keep customers (and themselves) safe from online fraudsters, banks may lift a mantra from the real estate sector: It’s all about location, location, location. In reality, said Boyer, there are strides that could significantly mitigate that risk and fraud. percent,” he said.

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PYMNTS

OCTOBER 10, 2019

Demand is rising for online services such as those providing cloud-based backups and storage. This can be a tall order, though, as they not only have to cater to the currency and payment demands of their customers, but also must ensure that accepting these methods does not expose either party to fraud. Cryptocurrency And Credit Cards.

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PYMNTS

APRIL 18, 2017

And that’s why they have turned to alternative payments as a way to both get paid and elude the traps that fraud detection systems have put up to find them. One of the biggest hurdles in perpetrating fraud online is getting paid — and why fraudsters are always onto the next best opportunity. Payment Hustlers on the Rise.

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Payments Fraud cryptocurrency Online 113

PYMNTS

JULY 24, 2019

In other news, cryptocurrency loan startup YouHodler forgot to password protect a server, which led to customer credit cards and user transactions being exposed for nearly one month. Security researchers Noam Rotem and Ran Locar discovered the database and reported their findings to TechCrunch.

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Regulation Bitcoin New York Online 108

PYMNTS

DECEMBER 29, 2020

Morgan Chase has agreed to acquire the rewards division of cxLoyalty Group Holdings to help expand its rewards content in categories such as merchandise, gift cards and travel. Machine Learning Supercharges Banks’ Efforts to Fight Debit Fraud. With an eye on the future of travel, J.P. The price of the transaction was not disclosed.

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Qudos Bank

FEBRUARY 15, 2024

If they ask for gift cards/other forms of payment other than money, it’s likely a scam Were you expecting an email from the sender, or is it unexpected? Online marketplace scams Buying things online is a great way to find a bargain, but it is also a scammer’s playground. What are they asking for?

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cryptocurrency social media Online Security 52

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. Swap.com Uses Data Analytics To Fight Post-Holiday Fraud Surge. Visa has opted out of its $5.3

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PYMNTS

AUGUST 23, 2019

An unnamed faction of the coalition of 28 organizations called on by Facebook to help bring Libra to fruition, including Visa and Mastercard, are reportedly looking for ways to distance themselves from the company after intense worldwide regulatory scrutiny regarding the proposed cryptocurrency. Adyen Gains Traction With Mid-Market Firms.

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Marketing Millennials Payments Compliance 116

PYMNTS

NOVEMBER 15, 2019

Users of Facebook Pay , which the company said is not related to its proposed cryptocurrency Libra, will be able to enter a preferred payment method and then use the option to eventually pay throughout all of the related apps. Goldman Denies Discriminatory Apple Card Practices, Says It Will Reassess Limits.

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PYMNTS

FEBRUARY 19, 2018

That’s because the indictments allege malfeasance that spans online transactions, banking and the ever-present specter of identity theft. Oh, and cryptocurrencies too. Using the accounts they’d opened for online payments, said the indictment, the indicted and the “Internet Research Agency” spent thousands monthly to buy the ads.

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Javelin Strategy & Research

NOVEMBER 7, 2023

Banner Section Home Rss.xml 2024 Trends & Predictions Javelin’s Trends & Predictions reports look at the coming year across the range of Javelin Strategy & Research’s practice areas—digital banking, fraud & security, payments, and wealth management—and highlight the compelling challenges and opportunities likely to emerge.

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PYMNTS

AUGUST 28, 2017

Virgin Islands cards and its cards offered in the 50 U.S. Consumers, as it turns out, often use their mobile numbers as their secondary form of identification for many online accounts. Cybercriminals seem to prefer to target cryptocurrency users and traders for this particular form of fraud.

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