Payments Dive

SEPTEMBER 29, 2022

Credit card fraud tops the list of growing threats, but P2P and newer payment vehicles are quickly catching up, according to a recent poll of industry executives.

Fraud 221

Fraud Payments Cards Industry 221

PYMNTS

MAY 5, 2020

In an interview with PYMNTS, Mitch Pangretic, senior vice president of strategic partnerships at Elan , said that in-person card fraud may have decreased thanks to EMV chips and multi-factor authentication, but card-not-present (CNP) scams are increasingly gaining traction. Interacting With The Cardmember.

Cards 197

Cards Fraud Guidelines Mobile 197

Abrigo

SEPTEMBER 7, 2023

Court case: Credit union held liable for ACH fraud losses A construction company argued the financial institution "failed to establish a reasonable routine" for monitoring suspicious activity alerts tied to ACH. Takeaway 3 Remember that ACH fraud risk also occurs in the placement stage of a fraudulent or money laundering scheme.

Fraud 222

Fraud Training System Trends 222

Payments Dive

AUGUST 2, 2019

While data shows that credit card fraud has decreased from the standpoint of payment volume, there remains a concern in the industry that cybercriminals are using sophisticated methods of changing tactics to avoid detection and put consumer payment information at risk.

Fraud 384

Fraud Payments Cards Industry 384

Abrigo

MAY 20, 2022

Fraud on Alert for 2022 A review of SAR data , government agenc y releases, a nd fraud findings found these f raud c oncerns and trends to wat ch in 2022. Takeaway 1 An Abrigo review of SAR data, government agency releases, and fraud findings revealed fraud trends to watch for. Fraud Concerns. Starting Point.

Trends 195

Trends Fraud Training Survey 195

PYMNTS

DECEMBER 16, 2020

The industry as a whole lost $165 billion in revenue between March and July, and it is on track to lose $240 billion by 2021 — with the decline expected to continue until the pandemic abates. Mobile ordering apps are largely responsible for keeping the industry above water, but fraud still plagues the sector.

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Fraud social media Mobile Trends 310

PYMNTS

SEPTEMBER 23, 2019

Many industries are still heavily analog, small and medium-sized businesses (SMBs) in particular. only agriculture and hunting invest less in digitization than the construction industry, according to recent data. How Virtual and Purchasing Cards Can Help. This digital shift hasn’t affected all businesses equally, though.

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Industry Cards Software Phoenix 169

Payments Source

JUNE 25, 2019

Their conclusion that card fraud needs to be taken more seriously by banks and card networks drew pushback from the financial industry. Researchers found that stolen payment data has been used to finance terrorism, human trafficking and other organized crime.

Fraud 101

Fraud Industry Cards Data 101

ATM Marketplace

SEPTEMBER 1, 2020

Greg Mahnken is a Credit Industry Analyst for Credit Card Insider and covers important topics such as fraud, security and responsible card use. With the rise in credit card fraud increasing, ATM Marketplace asked Greg to share with us how to combat it and how to protect customers.

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Fraud Cards ATM How To 136

Perficient

NOVEMBER 30, 2022

Our Payments Practice recently had the opportunity to represent Perficient at the 2022 Real-time Payments & Fraud Management Summit held in New York City. . The conference was attended by several Financial Institutions, Service Providers, Fintechs, and Industry Regulators. Industry demand and use cases are maturing. .

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Fraud Management Payments New York City 275

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. More than 6.2 About The Tracker.

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Fraud US Mobile Study 242

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.

Fraud 150

Fraud Cards Online Industry 150

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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Fraud Security Data Cards 242

Abrigo

NOVEMBER 7, 2022

Elder fraud prevention and education Learn strategies for recognizing and reporting elder fraud and exploitation. . Takeaway 1 Elder abuse, exploitation, and fraud are rising in the veteran population and can devastate older Americans. A growing target for elder fraud and exploitation.

Fraud 195

Fraud Resources Community Training 195

PYMNTS

NOVEMBER 17, 2020

This overwhelming reliance on smartphones has generated record profits for major telecommunications companies, including AT&T , Sprint and Verizon , with the industry generating $610 billion in revenue in 2019. Customers still face potential fraud threats once they are signed up, with SIM swap fraud being a particularly common foe.

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Fraud Company social media Cards 267

PYMNTS

DECEMBER 18, 2020

The past year has been — by almost any measure — one of the hardest ever for the restaurant industry, with the ongoing pandemic hurting few sectors more than hospitality and dining. These growing revenue streams carry their own risks, however, not the least of which is their propensity to be targeted by fraud.

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Fraud Trends Security social media 229

PYMNTS

JULY 21, 2020

Cybercrime is a constant concern for banks, credit unions and other financial institutions (FIs), with more than 25 percent of all malware attacks targeting the financial industry specifically. Credit card fraud is just one of many techniques that fraudsters leverage to scam FIs and their customers, but it is on the rise amid the pandemic.

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Fraud United States Cards Industry 167

PYMNTS

DECEMBER 21, 2018

Before the liability shift in 2015, the industry-wide prediction was that the onset of EMV would reduce occurrences of counterfeit card fraud in-store, but that the industry should expect to see a spike in card-not-present (CNP) fraud as fraudsters moved to easier targets. Predictions Can Come True. “We

Fraud 187

Fraud Tools Cards Security 187

PYMNTS

SEPTEMBER 15, 2020

Such immense effort is expended fighting determined fraudsters that it’s easy to minimize friendly fraud — a frustrating state of affairs that leaves financial institutions (FIs) and merchants on the hook for purchases disowned, justly or otherwise, by legitimate cardholders. Spotting The Fakers. Informed Evaluations, Quickly.

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Fraud Tools Retail Analytics 156

FICO

NOVEMBER 10, 2020

I am always glad to see headlines like this one, which ran last summer in The New York Times: “ How to Reduce Credit Card Fraud.” Every Transaction Is Assessed for Fraud. FICO’s patented and proven fraud analytic capabilities have helped organizations save $90 billion+ per year. Steps Ahead of Financial Criminals.

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Fraud Cards Analytics Mobile 98

FICO

SEPTEMBER 5, 2022

European Card Fraud in 2021: Winners, Losers and Scams. The United Kingdom and the Nordic region continue to lead Europe in terms of digital transformation and fraud loss reduction - but non-card scams are rising fast. Senior Consultant, Fraud and Financial Crime. Senior Consultant, Fraud and Financial Crime.

Fraud 52

Fraud Cards Regional Trends 52

Independent Banker

NOVEMBER 30, 2021

As more customers moved online, fraudsters took advantage of new and increasingly inventive opportunities to commit remote authentication fraud. These types of scams fall under the broad term of remote authentication fraud, and they’re increasingly common—and inventive. Examples of remote authentication fraud. New account fraud.

Fraud 160

Fraud Strategy Community Bank New York City 160

PYMNTS

JANUARY 14, 2021

Like so many industries today, the diamond sector continues to struggle with supply chain digitization. While B2B eCommerce portals use a variety of payment methods to facilitate transactions, Goldiam has integrated Stripe to facilitate credit card transactions for its retail buyers. Fostering Supply Chain Trust.

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Industry Strategy Retail Trends 204

PYMNTS

MARCH 27, 2020

The financial industry is particularly vulnerable to digital fraud. Application fraud, which sees cybercriminals submitting financial product applications to banks with no intention of paying them back, is among the most popular techniques. Defining Application Fraud.

Fraud 208

Fraud Technology Knowledge Base Study 208

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. ATM usage has been severely affected by the pandemic, as such machines require touching keypads, screens and card readers.

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Analytics Fraud ATM Report 266

PYMNTS

FEBRUARY 19, 2020

In they went, stealing details of 30 million cards before the malware was discovered in December of 2019. card number. What’s clear is that fraud decisioning solutions have never been more necessary, as cybercrime enters a new phase of sophistication, diabolical creativity and global scale. Sealing It.

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Fraud Pennsylvania Trends Security 131

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.

Fraud 174

Fraud Taxes Survey Cards 174

PYMNTS

SEPTEMBER 30, 2020

It’s happened to almost all consumers: They’re idly perusing their credit card statements when they come across completely confusing, seemingly random charges from businesses they don’t recognize in locations they’ve never visited. Depending on the industry, friendly fraud can account for anywhere from 25-80 percent of all fraud losses.

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Cards Online Fraud US 220

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.

Cards 131

Cards Fraud Payments ATM 131

PYMNTS

JULY 1, 2019

Overall digital fraud increased by 13 percent in the past year, with the food and beverage industry seeing an increase of 60 percent – nearly four times above average. Account Takeovers Plague the QSR Industry. The Ineffectiveness of Card Verification in the Digital Age.

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Fraud Mobile Cards social media 167

PYMNTS

OCTOBER 1, 2020

Kount , the Boise, Idaho-based Software as a Service (SaaS) platform designed to simplify fraud detection and improve profitability, announced it has partnered with Verifi , the payment protection and management company. In June, Visa signed an acquisition agreement with Verifi.

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Fraud Los Angeles Idaho Risk Management 183

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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Fraud Payments Cards Security 311

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. Fighting Friendly Fraud. For every $1 in legitimate fraud, there is $13 in transaction value that is falsely declined,” he said.

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Fraud System Data Cards 183

Abrigo

JUNE 4, 2024

With the changing political landscape, new regulations, shifting demographics, and economic uncertainty, getting the most up-to-date information from bank and credit union industry experts and peers has never been more important. My nephew has never written a check in his life and lives by his debit card and Apple Pay.

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Compliance Community Bank Community Conference 222

PYMNTS

SEPTEMBER 21, 2020

Onyx CenterSource , which provides B2B payments and business intelligence for the hospitality industry, has launched a new virtual credit card intended for use by hospitality and travel clients, according to a report by Hotel Business.

Cards 173

Cards Course Payments Fraud 173

PYMNTS

FEBRUARY 19, 2020

Not so long ago, payments cyber fraud was done primarily by brute force, through guessing passwords and usernames — a scattershot approach akin to trial and error, conducted by lone individuals or small groups. Fraud is an industry for the crooks now. They are hiring people from the industry. However, that’s changing.

Fraud 169

Fraud Payments ATM Cards 169

PYMNTS

SEPTEMBER 7, 2020

In B2B payments, the commercial card has experienced a dramatic spike in adoption this year as organizations accelerated their digital transformations and, unable to physically enter the office, began to rely on electronic payments to conduct their business. Winter Blues. Spring’s SMB Support. Spring began in dramatic fashion.

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Cards Tools Capital Payments 246