PYMNTS

JANUARY 20, 2021

Bad actors have moved to take advantage of the rush to digital payments — particularly those made with debit cards — leaving banks and financial institutions (FIs) racing to keep them off their platforms. We have seen higher levels of fraud or suspicious activity, [and] we have definitely built up our fraud prevention team. …

Security 130

Security Cards Mobile Fraud 130

PYMNTS

NOVEMBER 30, 2020

Fraudsters have redoubled their attacks on eCommerce channels, however, making consumers more concerned about data security. Shoppers may be reluctant to hand over their card details to every online retailer, as each transaction represents another risk that consumers’ information could be exposed in a breach.

Cards 151

Cards Security ATM Data 151

PYMNTS

JANUARY 22, 2020

The company recently announced that the software company Netcetera implemented the authentication system for Bank-Verlag, a company that makes and provides secure services for Germany’s banks. Two major Austrian card issuers are also using the technology.

Security 214

Security Payments Cards Fraud 214

PYMNTS

JANUARY 30, 2020

Widely publicized data breaches and hacks have made today’s consumers especially concerned about fraud. Cautious shoppers may find comfort in debit, with fraud losses associated with the payment method declining over the past several years. Card fraud is an ever-present threat. Around The Next-Gen Debit World.

Security 182

Security Fraud ATM Cards 182

Abrigo

MARCH 3, 2023

Ten red flags to help you identify check fraud A financial institution's guide to identifying mail-related check fraud. You might also like this webinar, "Proactive measures to protect against check fraud and fraud loss." Losses from check fraud total $18 billion annually, representing more than a million checks daily.

Fraud 195

Fraud United States Trends Software 195

PYMNTS

NOVEMBER 8, 2018

PNC Bank’s Treasury Management unit is testing a new solution to address card-not-present (CNP) fraud for commercial clients. 7) that it is piloting Dynamic CVV2 technology for commercial card customers. ” PNC Treasury Management added that the solution does not require a change in buyer behavior. .

Fraud 116

Fraud Cards United States Online 116

PYMNTS

OCTOBER 1, 2020

The plastic card, by necessity, is giving way to digital cards, and mobile apps are bringing card-not-present transactions, increasingly, to mobile devices. She said there are a number of basic pillars that should be in place in order to have an effective mobile card app, where cardholders and issuers interact.

Mobile 266

Mobile Cards Security Fraud 266

BankBazaar

APRIL 5, 2023

Credit Cards have become an essential financial tool for people across the globe. With the economy growing at a rapid pace, it has become imperative for individuals to own a Credit Card. Here’s why you need a Credit Card. Here goes… Convenience One of the biggest advantages of having a Credit Card is convenience.

Cards 78

Cards Management Security Tools 78

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.

Fraud 201

Fraud Risk Management Security Cards 201

PYMNTS

AUGUST 21, 2020

Digital banking is reaching unprecedented levels of popularity amid the pandemic, with 89 percent of American bank customers using mobile banking apps to manage their savings and checking accounts. ATM usage has been severely affected by the pandemic, as such machines require touching keypads, screens and card readers. billion by 2024.

Analytics 266

Analytics Fraud ATM Report 266

PYMNTS

FEBRUARY 12, 2020

As for the areas where scammers managed the biggest hits, business email compromise (BEC), confidence/romance fraud and spoofing were the top three types of crime in terms of monetary losses. BEC fraud does not respect seniority, and it pays exceedingly well.”. billion (or slightly over half) of all losses tracked in 2019.

Fraud 253

Fraud Handbook Security Comparison 253

PYMNTS

AUGUST 11, 2020

Idaho-based Kount has released a new product aimed at preventing insurance fraud as the industry increasingly turns to digital, and even mobile, setups. Along with the security benefits, Kount’s product will also ensure “marketing campaign efficiency and conversion,” the company added. In a Tuesday (Aug.

Fraud 234

Fraud Industry Idaho Customer Experience 234

Abrigo

JUNE 13, 2022

Elder fraud prevention and education Learn strategies for recognizing and reporting elder fraud and exploitation. . Takeaway 1 Elder abuse, exploitation and fraud continue to rise as the baby boomer generation ages. Takeaway 3 Education and reporting are key to preventing this type of fraud, so know your state's policies. .

Fraud 195

Fraud Training United States Survey 195

PYMNTS

DECEMBER 26, 2019

Deutsche Bank, Mastercard and IDEMIA are teaming up to introduce what they said is the first card in Spain to tap motion code technology, FinTech Futures reported on Thursday (Dec. On the back of the card, a small screen will display the CVC, also known as the dynamic security code.

Cards 131

Cards Fraud Security Study 131

PYMNTS

JULY 8, 2020

He and Nitendra Rajput , Mastercard’s vice president of product development and head of the company’s “AI Garage,” said that in many cases, AI is the only way to scale up sufficiently to meet the challenges the company faces with fraud and other business issues. “It Fighting Fraud in a Post-Pandemic World.

Fraud 274

Fraud Management Risk Management Company 274

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

Fraud 193

Fraud Cards Risk Management Customer Experience 193

PYMNTS

MARCH 15, 2019

The new Digital Fraud Tracker highlights the latest developments in payments fraud, and how different companies are working to keep funds safe from bad actors as payment solutions grow increasingly faster. Around the World of Digital Fraud. Australia’s CNP fraud problems seem to be part of a broader pattern.

Fraud 153

Fraud Payments Security System 153

PYMNTS

MARCH 14, 2020

With the coronavirus putting eCommerce front and center, it has unfortunately been joined by its cousin: online retail fraud. According to online security company Signal Sciences , eCommerce retailers deal with an average of 206,000 web attacks per month. “The percent of all eCommerce fraud , is still account takeover.

Fraud 230

Fraud social media Online Retail 230

PYMNTS

JULY 15, 2020

Mari Anne Bayliss , senior director of solution management at CyberSource , told Karen Webster that simply relying on machine learning as a weapon against fraud is not enough — not in an age where managing fraud risk during the great digital shift (and unprecedented transaction volumes) is so challenging. . .

Fraud 250

Fraud Course Online Data 250

FICO

DECEMBER 13, 2022

Biometric Security Crucial for Fraud Protection and CX. Because customers value ease of use and good fraud protection most, FIs must balance scam protection with making things easy for good customers – but not TOO easy. Customers Prefer Biometric Security. FICO Admin. Tue, 07/02/2019 - 02:45. by Sarah Rutherford.

Fraud 52

Fraud Security Survey Customer Experience 52

PYMNTS

OCTOBER 30, 2020

Here, Machicao explains how his firm helped clients protect themselves from escalating fraud risks with the COVID-triggered wave of CNP payments. The payment and fraud landscape is almost unrecognizable today compared to just a few short months ago. The following is an excerpt from What Did You Change?

Fraud 224

Fraud Resources Policies Online 224

PYMNTS

JANUARY 31, 2020

A 2018 survey found that 40 percent of American financial institution (FI) customers in this age bracket reported debit cards as their go-to payment instruments, while 36 percent favored credit cards. These organizations need to fend off anything threatening, combatting both popular and emerging debit fraud attack methods.

Fraud 148

Fraud ATM Cards Security 148

PYMNTS

NOVEMBER 18, 2020

Artificial intelligence (AI) is transforming the food service sector by helping restaurants boost their sales as well as improve and automate systems that were once managed by staff. Payment protection platform Verifi has partnered with digital fraud protection firm Kount Inc. Around The Mobile Order-Ahead World.

Boston 186

Boston Fraud Marketing Mobile 186

PYMNTS

JULY 15, 2020

CIBT , which works in global immigration and visa services for both corporations and individuals, has announced an integration with Conferma Pay for virtual cards and streamlined business travel payments, according to a press release. They can charge specific amounts to the virtual cards for payment for visa services.

Cards 188

Cards Fraud Security Payments 188

PopularBank

OCTOBER 4, 2022

An unauthorized debit card transaction can be an early signal that you’re the victim of debit card fraud. In 2021, The Federal Trade Commission reported nearly 69,000 cases of consumer-reported debit card fraud in the U.S. Practice safe fraud protection. Report lost debit cards ASAP.

Cards 52

Cards Management Fraud US 52

PYMNTS

DECEMBER 30, 2016

Still, researchers have found, many businesses do just that: RedSeal released a report this month that described the state of corporates’ approach to enterprise security as one of “cyber naïveté,” with many executives believing that their existing strategies are sufficient to ward off a cyberattack.

Fraud 145

Fraud Security Survey Technology 145

PopularBank

APRIL 18, 2024

Yet, despite advances in bank fraud protection, scammers continue to develop and deploy sophisticated—and successful—methods. Earlier this year, the Federal Trade Commission announced over $10 million in fraud losses in 2023, up 14% from the previous year. Thieves attempting bank fraud may try one or more of the following scams.

Fraud 52

Fraud social media Cards Security 52

PYMNTS

SEPTEMBER 24, 2020

The major cybersecurity issues that will continue to increase as digital becomes more prominent is fraudsters managing to get control of customers’ accounts,” he said. Fraud Threats To Digital Banking. Social Security numbers. Identity fraud accounted for $16.9 ATOs mostly] happen through social engineering,” he said.

Video 205

Video Fraud Digital Banking System 205

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.

Fraud 131

Fraud Pennsylvania Trends Security 131

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.

Fraud 98

Fraud Cards Analytics Mobile 98

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. “The

Fraud 183

Fraud Los Angeles Idaho Risk Management 183

PYMNTS

SEPTEMBER 10, 2019

Companies therefore must either invest in teams of AML specialists or in fraud-fighting technologies. . The September AML/KYC Tracker examines the latest fraud challenges and efforts to ensure tight security and compliance. . How Mobile Financial Startups Can Bridge the Security Gap. Around the AML/KYC Worl d.

Security 185

Security Fintech Fraud Compliance 185

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

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 .

Fraud 148

Fraud Strategy Study Cards 148

PYMNTS

APRIL 27, 2020

As the digital shift continues to keep pace with post-coronavirus shopping behaviors, eCommerce fraud is growing with it. In fact, 22 percent of respondents in a recent TransUnion survey claimed they had “been targeted by digital fraud related to COVID-19.” Consumers know it as the fingerprint or facial recognition on credit cards.

Fraud 164

Fraud Company Security Comparison 164

PYMNTS

AUGUST 19, 2019

In comments reported earlier this week, cyber insurance security responder Tom Bennett of CFC Underwriting told The Financial Times that that claims surged in June and July. The threat actors realized they can amplify their impact by targeting specific companies such as managed service providers,” said Bennett. Corporate Wire Fraud.

Fraud 180

Fraud Delaware Maryland social media 180

PYMNTS

OCTOBER 18, 2018

18) that cardholder signatures will now be optional for the back of credit cards and receipts. In a press release , Mastercard said it is making the changes due to advancements in technology and security. The survey also found that more than half of respondents believe they are secure without signing the cards.

Cards 218

Cards Survey Security Fraud 218