PYMNTS

OCTOBER 22, 2020

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. 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.

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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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PYMNTS

SEPTEMBER 21, 2020

And consumers want to pay with their preferred methods, across cards or digital wallets. Artificial intelligence (AI) can improve the eCommerce experience – not just in terms of warding off fraud, but also in making sure payments can be processed efficiently and that the most effective payment gateways are accessed.

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PYMNTS

SEPTEMBER 13, 2018

The costs are myriad, and can be measured in funds delayed to businesses that need them (for fear of fraud), innovations not experimented with because of the heightened risk environment, or time and treasure spent trying to keep at least a step or two ahead of the fraudsters.

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Fraud Data Cards Innovation 115

PYMNTS

NOVEMBER 23, 2020

And even before then, as evidenced by an earlier conversation between Karen Webster and Drew Edwards , CEO of Ingo Money , mobile deposit fraud was increasingly becoming a favorite vector for criminals. Back then, Edwards noted that mobile check fraud was escalating so much that some banks were shutting off the feature entirely.

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PYMNTS

JANUARY 24, 2019

Here’s a test: What’s fraud? Those questions also speak to the seemingly impossible tension in the world of payments and new card accounts: how to onboard and authenticate consumers as quickly and seamlessly as possible, while also protecting them and the institution from fraud. Fraud Getting Worse.

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Fraud Cards Data Comparison 174

Abrigo

DECEMBER 17, 2019

The expected outcome of greater inventory at a lower cost, as we have seen in prior years, is an increase in fraud activity and cyberattacks heading into the end of the calendar year. Carding shops offer bulk sales on compromised payment card data. Another popular category in the underground is account markets.

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PYMNTS

APRIL 15, 2020

While there is no shortage of new things in the world to get used to these days, cybercrime and fraud are, unfortunately, not among them. The good news, both Srinivasan and Awad told PYMNTS, is that while fraud attempts are up among U.S. consumers, fraud losses are not, yet. million pounds out of the unwitting. The New Normal.

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Fraud Risk Management Security Cards 201

PYMNTS

OCTOBER 2, 2020

Adhering to Payments Card Industry (PCI) Data Security Standards (DSS) is an unavoidable requirement for any and all eTailers that accept card payments, but a surprising number of firms are not up to speed on these standards. The global tokenization market is even expected to reach $6.8 percent over the next seven years.

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PYMNTS

JANUARY 11, 2021

To that end, late last week Equifax said it had reached a deal to acquire fraud prevention and digital ID firm Kount for $640 million. As reported, the deal will enable Equifax to boost its global presence in digital ID and fraud prevention, including through the Kount Identity Trust Global Network. In a Monday (Jan.

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PYMNTS

NOVEMBER 23, 2018

But those illegal marketplaces — often called the “Dark Web” — also present a juicy opportunity for those fighting fraud to detect and even preempt criminal activities than cost businesses revenue and, often, parts of their brand reputation. Early Warning Value. Enough of the basics.

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Fraud Cards Data Maine 184

PYMNTS

DECEMBER 8, 2020

As the holiday shopping season kicks into high gear amid an unprecedented pandemic-era surge in online shopping, banks and merchants are bracing for an associated spike in fraud , disputes and chargebacks. The way to solve for it is data ,” Briscoe, Ethoca’s chief marketing and product officer, said in an interview with PYMNTS. “Our

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Fraud System Data Cards 183

PYMNTS

APRIL 1, 2019

Buca di Beppo , the Italian restaurant chain, reportedly knew about a data breach that resulted in two million credit card and debit numbers being stolen since Feb. KrebsOnSecurity said credit and debit card accounts from Earl Enterprises restaurants were up for sale as of Feb. were impacted. were impacted.

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Las Vegas Cards Data Los Angeles 124

PYMNTS

OCTOBER 19, 2018

Even the mightiest of tech firms are not immune to invoice fraud. Engadget reported that Jeff Tran, Microsoft ’s former director of sports marketing and alliances, was charged with five counts of wire fraud. Wire fraud has a sentence of up to 20 years’ imprisonment. Fraud On The Rise. Payments Fraud No Cakewalk.

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PYMNTS

AUGUST 26, 2019

The phenomenon of payments fraud is not a modern one — far from it. But as RL Prasad, SVP of payment system risk at Visa , told Karen Webster in a recent conversation, what is new today is the who and the how of fraud, particularly in a digital world.

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Tools Fraud ATM Cards 207

PYMNTS

JANUARY 21, 2021

Merchants, card issuers and banks are no strangers to facing off against evolving fraud threats. Debit-related fraud is a particular concern for businesses and banks as failing to thwart such schemes could have significant and costly consequences. Debit And The Fraud Catch .

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PYMNTS

SEPTEMBER 7, 2020

For businesses, the world market was thrown into volatility, yet soon, new opportunities emerged. For the corporate card, 2020 has been a season for dramatic shifts in how the payment tool is used and the value it adds to the enterprise. The year 2020 began inconspicuously — but in a few short weeks, everything changed. Winter Blues.

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PYMNTS

MAY 6, 2020

Financial fraud costs businesses an estimated $1.45 trillion, and it resulted in almost half of global organizations noting they were victims of fraud in 2018. This has the unfortunate side effect of enabling opportunistic fraudsters to more easily swipe that data if they gain access, however. One recent breach at U.S.

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Data Fraud Tools Technology 181

PYMNTS

OCTOBER 24, 2019

It’s a sense one easily gets when listening to Rahul Pangam, co-founder and CEO of fraud detection services firm Simility , in a discussion with Karen Webster from PYMNTS. Fraud Growth. In an effort to grow the usage of smartphones in Brazil, some Big Tech companies have introduced debit card payment programs.

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Marketing Fraud Cards Online 115

PYMNTS

OCTOBER 6, 2020

The rising tide of fraud in the prepared food segment got an unfortunate illustration this week as food delivery Chowbus suffered a data breach, with information on about 4,300 restaurants as well as data for hundreds of thousands of customers slipping out the door. Fraudster In Many Forms . Staying Ahead Of The Fraudsters .

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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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Fraud Security Analytics Data 195

PYMNTS

SEPTEMBER 17, 2019

Banks lost about $4 billion to account takeover (ATO) fraud attempts last year and fraudsters have been reluctant to abandon the scheme as this year progresses. Australian FIs are still feeling the repercussions of a breach to its New Payments Platform (NPP), which exposed the data of an unnamed number of banking customers.

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PYMNTS

JULY 17, 2017

Fraud isn’t perpetrated by a random assortment of individuals; it’s organized crime. It’s “fraud as a Service.” It’s a very unfair match, if you ask Skye Spear, VP of eCommerce fraud-fighting firm Signifyd. “I Classic fraud deflection is rules-based. Fraud is dynamic. It’s a business. percent in Q1 2017.

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PYMNTS

JANUARY 3, 2019

A new study has revealed that retailers will lose around $130 billion in digital CNP (Card-not-Present) fraud between 2018 and 2023. A layered FDP (Fraud Detection & Prevention) solution naturally helps directly preventing fraud, but it also offers major gains in terms of recovering potentially lost revenue through false positives.

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Fraud Study Retail Online 152

PYMNTS

JUNE 19, 2018

Fraud has no choice but to roll with the punches, and the flurries are enough to daze a boxer as skilled as Ali. Get a toehold in a consumer’s account with a card and whammo, here comes EMV. Data Point Number One: 81 percent. By now, it’s widely known that chip-enabled cards have been pushing fraud to digital conduits.

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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

SEPTEMBER 19, 2019

Cybercriminals are also seeing opportunities to use these offerings to their advantage, however, now employing them to exploit vulnerabilities, siphon funds and access valuable data. . The following Deep Dive examines how AI technology is being deployed on the anti-fraud front lines. . The High Costs Of Fraud .

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PYMNTS

MAY 20, 2020

False positives are the bane of fraud fighters everywhere, as they penalize legitimate customers due to the behavior of bad actors illicitly armed with credentials, card numbers and accounts. Data Theft Ruining Appetites. Guess who else was in place and working? Static Rules, Say Hi To AI.

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Fraud Mobile System Data 130

PYMNTS

FEBRUARY 24, 2020

The mobile order-ahead market continues to expand its footprint, growing by 23 percent over the past four years and now accounting for more than 3.1 But even restaurants that are leveraging mobile ordering are being faced with more avenues for fraud to enter. billion restaurant visits and $26.8 billion in sales.

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PYMNTS

MARCH 12, 2020

Providers serving a wide array of businesses have access to more card or customer data than individual merchants, meaning they may be more able to flag individuals showing signs of fraudulent or unusual behavior. . Payment processors expanding their operations into new industries and markets have their work cut out for them, however.

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FICO

NOVEMBER 16, 2022

Enterprise Fraud Solution Buyers Want More Agility, More Data. Our recent global survey reveals the investment priorities and functionality requirements for enterprise-level fraud solution buyers. Investing in Fraud Prevention and Detection. FICO Admin. Tue, 07/02/2019 - 02:45. by Andrew Manuel. expand_less Back To Top.

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PYMNTS

OCTOBER 27, 2016

Last year, merchants and banks felt fraud losses reach $21.84 billion on all credit, debit and prepaid general-purpose and private-label payment cards issued globally. The number doesn’t come at too much of a surprise considering fraud itself grew by 20.6 percent in 2015, outpacing the growing global card volume.

Fraud 100

Fraud Data Cards Report 100

PYMNTS

APRIL 1, 2020

Data is everything to digital-first banks. Customer interactions offer financial institutions (FIs) invaluable information about consumers’ financial lifestyles as well as their needs as a whole, and banks that fail to harness these insights risk falling behind their data-savvy competitors. Data for Customer Onboarding.

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PYMNTS

NOVEMBER 9, 2016

But banks aside, credit cards may have no choice but to get into the blockchain game. Nasdaq writer Prableen Bajpal said that card companies no longer have a choice but rather need to embrace the technology already, which would bring down a slew of related costs and pump up efficiency. Gjerding sort of agreed, but not fully.

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New York blockchain Fraud Cards 175

FICO

SEPTEMBER 16, 2020

While 2020 has posed new challenges in fraud, our new European Card Fraud Map shows that many countries were battling card fraud successfully last year — with the UK leading the pack. Whilst data compromises drove up card fraud in the UK in 2018, they were not at the same scale and ferocity as 2019.

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PYMNTS

JULY 24, 2019

In the latest Digital Fraud Tracker , PYMNTS examines how fraudsters are utilizing mobile and app-based channels for fraud attacks, as well as why fraudsters are still relying on phishing as a major fraud strategy even as they increase their use of new technologies and techniques. Around the Digital Fraud World.

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PYMNTS

NOVEMBER 4, 2019

In the company’s ongoing efforts to prevent fraud on its site, Amazon announced a new program, Intellectual Property Accelerator, last month to help sellers make sure their products won’t be copied or counterfeited. According to a new LexisNexis study , overall retail fraud attempts doubled year-over-year and tripled since 2017.

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