PYMNTS

OCTOBER 21, 2020

Spend controls were the focus of innovation in the commercial card space this week thanks to feature and program launches. This week’s commercial card innovation tracker includes a rollout of the next generation of authorization controls from Comdata Inc., Finaxar Teams With Visa On SMB Spend Management.

Cards 130

Cards Innovation Management Fraud 130

PYMNTS

SEPTEMBER 20, 2019

Spend management firm Oversight Systems is rolling out a new module designed to analyze spend on fleet cards. 19) that its Fleet module is now available to users of its artificial intelligence (AI) analytics platform that automates fleet card transaction analysis. The company said in an announcement on Thursday (Sept.

Analytics 158

Analytics Cards Analysis System 158

PYMNTS

DECEMBER 16, 2020

The topic was front and center in an On the Agenda discussion with PYMNTS CEO Karen Webster, Ethoca CEO Andre Edelbrock , Cabela’s and Bass Pro Shops Senior Manager of Fraud and Investigations Keith Thompson and First National Bank of Omaha Director of Fraud Management Steve Furlong. The Scope Of The Problem.

Retail 228

Retail Management Fraud Omaha 228

PYMNTS

JULY 30, 2019

Certify/Chrome River, the resulting entity of the previous merger between Certify and Chrome River, is expanding its spend management services portfolio with another takeover. The company connects business managers to heightened visibility into employee spend and greater control over corporate expenses.

Cards 143

Cards Management Operations Policies 143

BankBazaar

NOVEMBER 20, 2023

W e won’t change our ways; hence the onus is now on Credit Cards to make our lives simpler. Somebody said, ‘Make my life easy’, and Credit Cards appeared out of nowhere. Though that’s not how they came into existence, we’re certain that Credit Cards do indeed make our lives easy.

Cards 78

Cards Security Policies Fraud 78

PYMNTS

NOVEMBER 9, 2018

Carlson Wagonlit Travel has debuted a study that shows that as many as 46 percent of American and European business travelers have said they used company cards to make personal transactions. Six in 10 corporate road warriors around the globe have corporate cards, said the data. Faster Payments/Faster Fraud in the UK?

Cards 150

Cards Fraud Policies Ohio 150

FICO

JUNE 23, 2022

The Role of Data in Managing Fraud and Financial Crime Today. Here are the highlights from the fraud management data discussion I had at FICO World 2022 with Julie Conroy, Head of Risk Insights and Advisory at Aite-Novarica Group. How Did the Pandemic Change Fraud? Tue, 07/02/2019 - 02:45. by TJ Horan.

Fraud 52

Fraud Management Data Compliance 52

FICO

MAY 19, 2020

History tells us that things like natural disasters, times of economic instability, and fears of recession or unemployment provide the perfect environment for increased fraud and financial crime. So, I thought I would outline my top 5 fraud manager considerations during COVID-19.

Fraud 52

Fraud Management Handbook Cards 52

PYMNTS

DECEMBER 21, 2018

As reported last week in CPA Practice Advisor , per AppZen, roughly 30 percent of expenses filed by employees in the professional services space get flagged when scrutinized against corporate policies. AppZen said there is no finding that certain verticals are more or less prone to expense fraud. The FBI noted that as much as $12.5

Fraud 152

Fraud Policies Survey Report 152

PYMNTS

JANUARY 10, 2018

Oversight Systems has updated its Insights On Demand software-as-a-service (SaaS) solutions to provide managers with quicker ways to identify expense report fraud. businesses lose $1 billion every year due to employee expense fraud. In an announcement on Tuesday (Jan. Oversight cited data from JPMorgan, which estimated U.S.

Fraud 100

Fraud Tools Policies Risk Management 100

PYMNTS

JUNE 14, 2018

But of course, for our purposes, the focus is on payments – and here there are investigations, too, specifically into expense account fraud. Bloomberg reports that the bank is looking into fraud that may have occurred at investment banking and private banking units across Africa, Asia and the Middle East.

Fraud 103

Fraud North Carolina Policies Survey 103

PYMNTS

FEBRUARY 8, 2018

Being a program manager isn’t easy. Essentially, it means handling everything other than card issuing, authorization and transaction processing. Perhaps that’s why companies like Cascade found themselves so frustrated working under a program manager. Again: It isn’t easy. Cascade wanted to own its destiny, Schmerling said.

Management 167

Management Compliance Maine Policies 167

PYMNTS

OCTOBER 21, 2019

Corporate fraud comes in many colors, but for many businesses, the most unexpected threat is the one looming from within company walls. This week, IBM announced a collaboration with Raw Seafoods to develop a blockchain solution to address supply chain fraud in the seafood industry, including cases of incomplete documentation and mislabeling.

Fraud 111

Fraud blockchain Ohio Survey 111

PYMNTS

SEPTEMBER 30, 2019

Less than a year after launching its corporate virtual card solutions, Australia-based DiviPay has announced new funding from the venture capital arm of ANZ Bank. “What we found was it was very difficult for small businesses in Australia to get access to corporate cards,” Kniaz said. 28) said the VC unit, ANZi, led a $1.56

Cards 100

Cards Management Policies Capital 100

PYMNTS

OCTOBER 8, 2020

Risk management platform Feedzai announced a 44 percent increase in growth for the first half of the fiscal year for 2020, which a press release says was one of the company’s most successful so far. In addition, the company has strengthened its hiring, with several veterans of finance, policy and regulatory affairs joining the team.

Report 247

Report Fraud Risk Management America 247

PYMNTS

OCTOBER 26, 2017

And in New Mexico, two Santa Fe government employees were placed on leave following a report that fraud is running rampant in their department. Internal fraud is, unfortunately, an all-too-common problem for businesses and government entities, especially with regards to misuse of p-cards. And that’s just in the last month.

Fraud 108

Fraud Payments Cards Policies 108

PYMNTS

FEBRUARY 27, 2018

That certainly presents problems for spend management, according to research from the Global Business Travel Association (GBTA) Foundation, which found last year that non-corporate payment methods like cash and personal cards are limiting businesses’ access to transparency travel spend. Business spend on travel reached $1.15

Fraud 104

Fraud Marketing Payments Analysis 104

PYMNTS

NOVEMBER 10, 2017

For any organization with an attitude of, “It can’t happen to me,” here’s a wakeup call: Corporate fraud is common and on the rise. One of the easiest areas for internal fraud to occur is in employee expensing. One of the easiest areas for internal fraud to occur is in employee expensing. It’s a very involved process. “The

Fraud 112

Fraud Compliance Policies Technology 112

PYMNTS

SEPTEMBER 21, 2020

The firm provides small businesses ranging from personal trainers to general contractors with policies. The second tool is named “COVID-19 Best Fraud Prevention and Cybersecurity Practices.”. Cape Debuts 'Recession Fighting' Credit Card. FLEETCOR Buys AFEX To Boost Cross-Border Payments.

Resources 223

Resources Capital Fintech Cards 223

Abrigo

AUGUST 18, 2020

Key Takeaways BSA officers need to stay aware of emerging fraud trends that are a result of the pandemic. Consider a risk-based lookback for your PPP portfolio to fight fraud. Be aware of emerging fraud schemes. Any time there is a large-scale , global issue, you can expect to see a rise in fraud, and COVID-19 is no different.

Fraud 195

Fraud Lending Trends Compliance 195

Abrigo

AUGUST 18, 2020

Key Takeaways BSA officers need to stay aware of emerging fraud trends that are a result of the pandemic. Consider a risk-based lookback for your PPP portfolio to fight fraud. Be aware of emerging fraud schemes. Any time there is a large-scale , global issue, you can expect to see a rise in fraud, and COVID-19 is no different.

Fraud 195

Fraud Trends Compliance Technology 195

Abrigo

MARCH 7, 2022

Takeaway 2 Planning ahead and informing management of expected changes will help financial institutions adapt to anticipated rules and guidance. Consider adding an enhanced section on Russian sanctions to your OFAC policy to show your regulators that you understand the magnitude of this situation. 2022 Regulatory Focus.

cryptocurrency 195

cryptocurrency Regulation Fraud Policies 195

PYMNTS

NOVEMBER 28, 2017

While most corporations are hesitant to admit it, fraud initiated by a company’s own employees is quite common — and incredibly expensive. Research earlier this year found corporate fraud to be at record-high levels. Though difficult to detect, internal fraud has a massive impact on the bottom line. Fear of Retaliation.

Fraud 101

Fraud Report Survey Leadership 101

BankBazaar

JULY 17, 2019

With a plethora of insurance companies in the market offering a variety of policies, people often get confused. So, buying an insurance policy is not as easy as it was before. Benefits Of Getting Insurance Policies Online. Instant & Secure: This is one of the fastest and most secure ways to get your insurance policy.

Policies 60

Policies Online Comparison Millennials 60

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.

Fraud 109

Fraud Data Delaware New York City 109

PYMNTS

DECEMBER 12, 2019

We basically have eliminated manager approvals,” Beer said. We’re doing 100 percent of audit[s] through a machine learning model that makes sure that, as we process travel and expense reports, they’re in alignment with our policies.”. By using AI, the company is “taking some bureaucracy out of our managers’ hands.”.

Report 132

Report Fraud Policies Compliance 132

American Banker

AUGUST 9, 2023

The Seafarers International Union sued Bank of America's senior managers and board alleging breach of their fiduciary duty in managing a prepaid debit card program that distributed unemployment benefits during the pandemic.

Fraud 69

Fraud America Cards Management 69

PYMNTS

JULY 24, 2020

As if hackers and data breaches and everyday card theft weren’t already off the chain, along comes COVID to embolden criminals and provide them with the cover of chaos to ply their trade. A recent study from the American Bankers Association found that losses from fraud attempts against bank deposit accounts totaled $25.1

Fraud 187

Fraud Analytics Guidelines Industry 187

PYMNTS

MARCH 1, 2020

Small- to medium-sized businesses (SMBs) were duped by salespeople from American Express (AmEx) who reportedly misrepresented card rewards and fees in an effort to close more approvals, according to a report from The Wall Street Journal (WSJ) Sunday (March 1). Customers could also use their Costco-branded cards at other merchants.

Report 151

Report Cards Policies Risk Management 151

MyBankTracker

SEPTEMBER 10, 2020

What nobody needs is life insurance fraud. Worrying about life insurance fraud probably isn’t high on your list of concerns, which is good, because the odds of something happening are likely rare, but it’s smart to have it on your radar. So if you’re concerned about life insurance fraud, don’t worry (much).

Fraud 52

Fraud How To Policies Minnesota 52

FICO

NOVEMBER 30, 2017

Are traditional approvals and audit reviews of procure-to-pay transactions sufficient to prevent expenses fraud, waste and abuse in your organization? A recent study showed that expenses fraud committed by employees is estimated to cost U.S. Purchases which are made using a p-card for an item on an approved catalog.

Analytics 79

Analytics Fraud Compliance Cards 79

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.

Groups 190

Groups social media Fraud cryptocurrency 190

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

JANUARY 26, 2021

Managing spend for organizations typically comes with a lot of paper, manual processes and headaches. At most, a manual approach to spend management can attempt to uncover potential patterns: an employee that is continually breaching internal spend policy, for instance. Spending Disparity. The Value Of Automated Analytics.

Analytics 189

Analytics Compliance Management Data 189

CFPB Monitor

OCTOBER 11, 2018

At the Online Lending Policy Institute’s (OLPI) annual summit in Washington, D.C. Gardineer raised concerns about the application of bespoke capital, liquidity, and risk management requirements for SPNB charter applicants. Mr. Watkins indicated that the CFPB’s no-action letter policy may also be subject to review by the Bureau.

Policies 60

Policies Lending Data Online 60

FICO

APRIL 18, 2018

FICO today unveiled several solution upgrades that will help banks, lenders, fintechs and other institutions fight fraud and financial crime. These solutions bring unparalleled efficiency and machine learning capabilities to fraud, risk and compliance professionals. FICO ® Card Compromise Manager 2.0

Fraud 53

Fraud Analytics Miami Florida 53

PYMNTS

MARCH 20, 2020

In today’s top news, Bank of America will offer mortgage, credit card and other loan deferments to customers impacted by the coronavirus, and India is moving to tighten controls on Big Tech companies by requiring them to turn over data. The drafted policy also calls for a new regulator to provide oversight and enforce compliance.

Data 140

Data Payments America Fraud 140