PYMNTS

SEPTEMBER 23, 2020

In today’s top payments news around the world, PayPal and Mastercard are adding more European Union (EU) countries to a debit card offering, while European Central Bank (ECB) President Christine Lagarde has called for a digital euro. PayPal, Mastercard Add 5 EU Countries To Debit Card Offering. Germany and the United Kingdom.

Cards 214

Cards Google Regulation cryptocurrency 214

PYMNTS

JUNE 18, 2020

The London-based trade group for Europe’s ePayments community is waiting for the European Banking Authority , the European Union (EU) banking regulator, to provide the 27-nation bloc with an update on Strong Customer Authentication (SCA). Credit cards typically contain a chip or require a PIN. Vendorcom wants answers.

Groups 131

Groups Regulation Fraud Security 131

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.

Fraud 78

Fraud National Security social media 78

Abrigo

JANUARY 3, 2024

The final rule includes requirements for disclosing information about beneficial ownership to financial institutions and other specific groups. Financial institutions will be the last group to gain access, and the timeline is undetermined. Stay up to date on AML/CFT and fraud trends with more professional development.

Fraud 221

Fraud Regulation Report Compliance 221

PYMNTS

MARCH 8, 2016

It is apparently getting harder to get a gift card out there, as retailers are making it harder to buy them. Some have started requiring cash-only purchases of the cards, others have cut them down to smaller denominations, others have put limits on buying multiple cards and some have just dispensed with selling them altogether.

Cards 100

Cards Fraud Retail National 100

Abrigo

FEBRUARY 15, 2023

When developing a risk assessment, institutions can treat the AML/CFT priorities as stand-alone risk factors or group them together. Fraud - Fraud is believed to be the largest generator of proceeds for criminals in the U.S. The most common types of fraud include bank fraud, consumer, health care, securities, and tax fraud.

Fraud 195

Fraud United States Training Policies 195

PYMNTS

JANUARY 18, 2017

The National ATM Council (NAC) argued in testimony to the Committee on Consumer Affairs of the New York City Council last week that a proposed ordinance would impose costly and burdensome new security regulations on ATM operators all around the city. said Renard in the same press release.

ATM 100

ATM National New York City New York 100

Abrigo

JANUARY 30, 2024

The Fighting Financial Crime track will focus on BSA compliance, anti-money-laundering (AML), and fraud detection topics. Abrigo is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors.

Conference 195

Conference Arizona Phoenix Fraud 195

PYMNTS

JANUARY 13, 2020

The launch of EMV chip cards in the U.S. in the early 2000s had much of the hoped-for effect: By 2017, both Mastercard and Visa had reported that counterfeit fraud was more than halved. Despite their success, the use of EMV cards with no required PIN codes has left a door unlocked for crooks. It’s not all good news.

Trends 136

Trends Fraud Cards National 136

FICO

MAY 19, 2021

What Is First-Party Fraud? From banks to telcos to debt collection agencies, what looks like unrecoverable bad debt may in fact be first-party fraud. For many people, the word “fraud” evokes images of shadowy criminals using stolen identities and purloined credit card information to commit financial crimes. by Matt Cox.

Fraud 52

Fraud Groups Analytics Compliance 52

PYMNTS

JUNE 13, 2019

In early May, Mastercard , in partnership with SEDESSON, the Mexico state agency for social benefits, and Edenred Bank, announced a first-of-its-kind test in Mexico’s Sonora state – the first regional test of biometric card technology in national history. The Challenge of Building the Right Card for the Job.

Cards 187

Cards Security United States Technology 187

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.

Technology 208

Technology Report Fraud Study 208

Insights on Business

AUGUST 28, 2019

In our webinar yesterday, the first in the series AI Fraud Detection — Beyond the Textbooks , we ran out of time and weren’t able to address some great questions we had from the audience. What rules or models can you recommend to detect push-payment fraud”? Here’s why: All fraud models are predictors. Great question!

Fraud 93

Fraud Training Cards Data 93

PYMNTS

JULY 7, 2020

Americans have lost more than $77 million in COVID-19 fraud since the start of the year, according to the Federal Trade Commission (FTC). But that number misses an unprecedented scope of scams connected to the coronavirus, according to John Breyault , a spokesman for the National Consumers League , the Washington, D.C.-based

US 175

US Fraud Illinois Washington 175

PYMNTS

JUNE 29, 2020

Launched in the Ukraine a decade ago, the internet-based cybercriminal enterprise stole identities, compromised debit and credit cards and personal, financial and banking information and spread computer malware, the Justice Department’s Criminal Division said in a statement. In April, a joint study by the U.S. and the United Kingdom.

Nevada 201

Nevada Cyber Security Study Security 201

FICO

MAY 19, 2021

For many people, the word “fraud” evokes images of shadowy criminals using stolen identities and purloined credit card information to commit financial crimes. Perhaps surprisingly, consumers sometimes use their own personal information to commit fraud. Both of these crimes are first-party fraud.

Fraud 52

Fraud Groups Analytics Compliance 52

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

Fraud 195

Fraud Training Regulation Trends 195

PYMNTS

NOVEMBER 9, 2017

The financial watchdog has published a response to a complaint filed by consumer advocacy group Which? Banks don’t reimburse their consumer and business customers hit by such a scam, unlike reimbursements made for fraudulent payments on card products, reports in the Telegraph explained. more than a year ago.

Fraud 100

Fraud Payments Regulation System 100

PYMNTS

OCTOBER 14, 2016

One firm, IdentityMind Global, provides real-time risk management and fraud prevention through “digital identities,” collecting data across dozens of parameters and separating the financial ecosystem into good actors — those deserving of trust (and completed transactions) — and, well, bad actors.

Fraud 100

Fraud Online social media Risk Management 100

PYMNTS

APRIL 9, 2020

The cybercriminals demanded $6 million in ransom with a promise that they would not release the sensitive information of Travelex customers, including birthdates and credit card numbers. They claimed to have birthdates, credit card information and national insurance numbers and demanded the $6 million payment.

Report 279

Report Groups Data Cards 279

PYMNTS

MAY 1, 2018

Banks and credit card companies are looking at ways to pinpoint gun purchases via their payment systems in what could be the first step in restricting purchases of guns. The Wall Street Journal , citing people familiar with the discussions, reported the talks are in the early stages and would bring a lot of pushback from pro-gun groups.

Company 107

Company Cards Florida Idaho 107

PYMNTS

DECEMBER 29, 2020

Morgan acquired the rewards division of cxLoyalty Group Holdings. 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.

Payments 141

Payments Fraud Tools Video 141

Insights on Business

AUGUST 28, 2019

In our webinar yesterday, the first in the series AI Fraud Detection — Beyond the Textbooks , we ran out of time and weren’t able to address some great questions we had from the audience. What rules or models can you recommend to detect push-payment fraud”? Here’s why: All fraud models are predictors. Great question!

Fraud 70

Fraud Training Cards Data 70

PYMNTS

DECEMBER 2, 2019

China has implemented a new policy requiring citizens who want new phone service to scan their faces to verify identities instead of simply presenting ID cards, according to a report in The Wall Street Journal. 1), and it was ostensibly put into place to tamp down on fraud and stop the illegal sales of mobile phone cards.

Policies 130

Policies Mobile Maine Fraud 130

PYMNTS

FEBRUARY 7, 2018

“Today’s indictment and arrests mark one of the largest cyber fraud enterprise prosecutions ever undertaken by the Department of Justice,” acting assistant attorney general John Cronan said. In similar news published by ZDNet.com , the group has been charged with nine counts ranging from conspiracy to racketeer to computer crimes.

Las Vegas 115

Las Vegas United States Fraud Cards 115

NCR

JULY 31, 2017

As we explored in the first part of this two-part guide, digital banking fraud is an escalating threat to financial institutions and their customers. Digital banking fraud can take many forms, such as identity fraud and account takeover , which are becoming increasingly common. million in 2016. million in 2016.

Fraud 74

Fraud Digital Banking social media Security 74

PYMNTS

MARCH 12, 2020

Last year, credit card data was stolen from online stores hosted by eCommerce software, hosting and support company Volusion. Hackers breached Volusion servers and inserted malicious JavaScript code, which made its way onto customer store websites, where it recorded payment card details when they were entered into checkout forms.

Data 155

Data Payments Cards Maine 155

PYMNTS

JANUARY 20, 2020

Fabara officially joined Visa in September of 2019, coming from Amex, where he was president of its global services group. It has motivated a different approach for fighting fraud in the 2020s and beyond. Protecting the commerce ecosystem from fraud and risk is both a short- and long-term game.

Security 168

Security Fraud Risk Management Payments 168

PYMNTS

DECEMBER 23, 2019

A 22-year-old Turkish man from London was convicted of attempting to blackmail Apple out of $75,000 in cryptocurrency or a thousand $100 iTunes gift cards by falsely claiming he had access to iCloud and other Apple accounts, various outlets reported on Monday (Dec. The National Cyber Crime Unit of the U.K.’s

Apple 137

Apple National Groups cryptocurrency 137

FICO

NOVEMBER 24, 2020

Traditionally, credit application fraud has been perpetrated in two ways: First-party fraud – where the criminal uses their own identity to commit fraud, even if they obscure some details in order to prevent detection. Where fraud data sharing is in place, their scope may well be limited across multiple organizations.

Fraud 98

Fraud Data US Groups 98

PYMNTS

OCTOBER 18, 2019

Mastercard is collaborating with four eCommerce retailers — WHSmith.co.uk, Funky Pigeon, Cult Pens and The Card Gallery — to offer the Pay by Bank app to online shoppers, Mastercard announced in a press release on Friday (Oct. as well as maintain the company’s critical national infrastructures. .

Retail 116

Retail User Experience ATM Security 116

CFPB Monitor

MAY 12, 2021

The Durbin Amendment (Section 1075 of Dodd-Frank) authorized the Fed to issue regulations to ensure that the amount of any interchange fee received by a large debit card issuer (one with at least $10 billion of assets, together with its affiliates) is reasonable and proportional to the cost incurred by the issuer. New Lawsuit.

North Dakota 78

North Dakota Cards Regulation Fraud 78

PYMNTS

FEBRUARY 27, 2018

These solutions could shift the way national security agencies in several countries operate, or force employers to change how they authenticate and identify their employees. Several nations around the world are reconsidering their approach to security and national identity systems. as part of a visa waiver program. billion USD.

Security 110

Security Report National Millennials 110

PYMNTS

SEPTEMBER 24, 2018

The National Retail Federation (NRF) has also jumped into the controversy. “As As thousands of businesses have testified and explained in comments to the administration, tariffs are a tax on American families,” reads a recent statement from Matthew Shay, CEO of the trade group.

Retail 122

Retail Fraud United States Groups 122

FICO

DECEMBER 3, 2018

In this continuation of my recent video interview with Jesse Gossman , — a police detective in South Florida, Certified Fraud Examiner, and president of the counter-fraud consulting group Bottom Line Fraud — we discuss how synthetic identity fraud is perpetrated, how the synthetic identities are created, and why they look so real.

Fraud 40

Fraud Video Case Study United States 40

PYMNTS

FEBRUARY 10, 2020

The Equifax cyberattack exposed the financial data of almost 150 million Americans and British and Canadian nationals. The breach gave hackers access to customers’ personal information, including Social Security numbers, drivers’ licenses, credit card numbers and birthdates. “There are exceptions, though.”

Atlanta 134

Atlanta National Conference Security 134

PYMNTS

SEPTEMBER 16, 2019

The continued use of paper checks and Excel spreadsheets epitomize this trend: Despite the influx of accounts payable automation tools, new commercial and virtual card offerings, faster ACH options and automated accounting platforms, checks and spreadsheets continue to be favored tools. Fighting Against Fraud.

Fintech 134

Fintech Fraud Tools Technology 134