PYMNTS
NOVEMBER 16, 2020
Such security methods can be critical to preventing fraud that targets mobile users, of which one of the most prevalent types is SIM swap fraud. Once you have that blank SIM card, all you need to do is convince the carrier to transfer a phone number to that same card, and that's it. Why Fraudsters Swap SIM Cards.
Abrigo
SEPTEMBER 20, 2023
A few years ago, a small credit union in Miami Gardens, FL, shut its doors due to a $300,000 civil money penalty assessed for their anti-money laundering (AML) failures. These MSBs were located in high-risk jurisdictions outside the Miami credit union’s field of membership and outside the United States.
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PYMNTS
JANUARY 14, 2021
One unfortunate result of this shift has been an uptick in fraud, with bad actors taking advantage of digital channels to victimize customers and retailers more easily than they could during face-to-face interactions. It’s a lot of people [who] have gotten ahold of someone else’s credit card number and are placing orders with it.”.
PYMNTS
OCTOBER 5, 2020
In today’s top payments news around the world, sports star David Beckham’s startup Guild Esports has been listed on the London Stock Exchange (LSE), while Amazon India has launched a method for clients to pay their credit card bills through Amazon Pay. Amazon India To Let Users Pay Credit Card Bills With Amazon Pay.
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
FICO
FEBRUARY 28, 2018
But how can it best be used to fight application fraud? It was not much before Deep Blue, in 1992, that FICO pioneered the use of artificial intelligence and machine learning to fight credit card fraud. Fraud losses on US credit cards were reduced by over 70% since the introduction of FICO’s real-time anti-fraud analytics.
South State Correspondent
MAY 13, 2024
Last week, Nacha held its Smarter Faster Payments Conference in Miami, a significant event for over 1,800 bankers and vendors. Unfortunately, most banks don’t gather fraud data across payment channels or track “pre-crime events.” More states require greater disclosure and control over what banks and card processors can charge.
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