PYMNTS

JULY 25, 2017

The impact of online fraud reaches far beyond the dollar count of sales lost. . In recent studies, as noted by EKN Research and Radial, developed nations are seeing an increase in card not present (CNP) fraud, which now accounts for as much as 70 percent of all card fraud and is growing at double-digit percentage rates in some nations. .

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Fraud Retail Cards National 120

PYMNTS

JULY 21, 2017

If a data breach is a sprint — where a fraudster grabs as much data as he or she can, as quickly as possible, in an effort to maximize ill-gotten gains — the fight against fraud is a marathon. Fraud varies country to country, region to region. Europe may offer a tell on the fraud to come. A marathon that never ends.

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Fraud United States Regional Cards 116

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.

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Fraud National Security social media 78

PYMNTS

SEPTEMBER 21, 2018

To that end, the the Internet Crime Complaint Center (IC3), a hub to bring complaints to the Federal Bureau of Investigation (FBI), is eyeing payroll fraud. Often steered toward a prepaid card owned by the cybercriminal, said IC3. In Europe, especially, nations must be on the lookout for payment card fraud.

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Fraud Cards Report Mobile 141

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.

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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.

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Cards Security United States Technology 187

Abrigo

APRIL 18, 2022

According to a White House statement , the executive order's goals are to: enhance consumer protection ensure financial stability increase national security reduce climate risk The White House describes the executive order as an attempt to balance innovation and U.S. National objectives in cryptocurrency policy. Priorities.

cryptocurrency 195

cryptocurrency Fraud United States Leadership 195

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.

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Conference Arizona Phoenix Fraud 195

PYMNTS

JANUARY 9, 2020

The shift from magnetic stripe to EMV chip cards marked one of the 21 st century’s most widespread payment developments. Chip cards have been heralded for their improved functionality and security, but they have still failed to address critical authentication problems, leaving retailers to bear the brunt of these vulnerabilities.

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Fraud Cards Retail Security 131

PYMNTS

AUGUST 29, 2019

Digital fraud continues to be one of the most pressing issues that marketplaces face today. Experts estimate that total fraud losses in 2018 totaled $3.9 Developments Around The Digital Fraud World. Businesses are turning to a variety of solutions to fight fraud, including leveraging blockchain technology.

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PYMNTS

FEBRUARY 14, 2020

11 to set up a bank card clearing business, providing it with access to a $27 trillion payments market. The People’s Bank of China said it has approved an application by Mastercard’s Chinese joint venture to run a bank card clearing business in the nation. China’s central bank gave Mastercard the green light on Feb.

Retail 141

Retail Cards Millennials Fraud 141

FICO

AUGUST 3, 2022

Fraud Ideas from FICO World 2022 – and Excitement for 2023! FICO World 2022 was an excellent event with a stellar fraud protection and compliance track - here's some of what we learned. Synthetic Identities and Application Fraud. Innovative Customer Communications for Fraud. Tue, 07/02/2019 - 02:45. by TJ Horan.

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Fraud Analytics Trends Innovation 52

PYMNTS

JANUARY 31, 2020

We have deep dives into virtual card adoption and self-service technology, as well as a report on Kobe Bryant’s legacy. Bank Is Doing to Drive Virtual Card Adoption. Accounts payable (AP) professionals and vendors still have reservations about adopting virtual cards despite their many benefits. 29), has Penn National Gaming Inc.

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Cards Technology social media Meeting 131

South State Correspondent

OCTOBER 25, 2023

The process was sped up by technology and legislation in the 70’s and 80’s so checks could be scanned and presented faster, but the process remained costly. The debit card started to rise in popularity in 2004, as did an explosion of ATMs in 2005, affording the general population more access to cash. That is an expensive item.

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Fraud ATM Payments Management 195

FICO

NOVEMBER 21, 2018

While people in the US, UK and other nations celebrate Black Friday bargains, it’s a good time to remind customers to watch out for Black Friday fraud. People have two chances to make themselves vulnerable — when taking out cash at an ATM and when taking advantage of Cyber Monday, when card-not-present (CNP) fraud spikes.

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Fraud ATM Cards Online 76

NCR

SEPTEMBER 15, 2017

After years of lagging behind many other developed nations, the US market is rolling out EMV technology. While the transition is still in process, and has in many cases been a bumpy, road to adoption, it will go a long way towards tackling some of the most common types of fraud. The shift to e-commerce CNP fraud.

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Fraud Cards Security US 84

FICO

SEPTEMBER 14, 2021

What does that mean for fraud professionals? Once I started looking around, I saw that Venmo is accepted at quite a few national retailers. A growing list of national restaurant chains are making PayPal an option, too, such as Chick-Fil-A, McDonald’s, Burger King, Taco Bell and, importantly, Panda Express. QR Codes and Fraud.

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Fraud Payments Mobile Data 52

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!

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Fraud Training Cards Data 93

PYMNTS

FEBRUARY 1, 2021

To get a sense of the present state — and future — of instant payments, look to Italy. A Leapfrog To Instant – Or Room For Cards, Too? . The question remains as to whether there will be a leapfrogging from cash to instant payments, bypassing cards along the way.

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Payments Cards Taxes System 250

Independent Banker

DECEMBER 31, 2022

From new fee practices to peer-to-peer fraud, keep an eye on what regulatory changes could be developing in the new year. Multiple re-presentment fees. The FDIC issued guidance about the consumer compliance risks associated with assessing NSF arising from the re-presentment of the same unpaid transaction. Peer-to-peer fraud.

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Compliance FDIC Community Bank Community 100

PYMNTS

MARCH 30, 2020

One example can be seen in setting up fraud alerts, which can be sent proactively to the member in case of a suspicious transaction. As more fraud shifts from card-present to card-not-present commerce, it’s been imperative to thwart attempts to impersonate consumers and assume control of their accounts.

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Tools Fraud Data Security 143

PYMNTS

DECEMBER 3, 2020

After the year we’ve seen so far, uncertainty is probably just about the last thing the retail segment wants as a holiday present for 2020. Piatt said those are figures align nicely with recently released National Retail Federation (NRF) data indicating that 39 percent of holiday shopping will happen online this season.

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Cards Online Trends Survey 210

PYMNTS

DECEMBER 20, 2019

As city councils all over the nation get a hankering for MOA tax revenue, the category just keeps growing and evolving. As mobile takes fast food by storm, QSRs find themselves gagging on friendly (and unfriendly) fraud. In the case of mobile order-ahead, chargeback fraud is the one to watch out for, but it’s very hard to spot.

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Mobile Fraud New York City Metro 131

PYMNTS

MAY 19, 2020

Around 90 percent of users were Brazilian customers, although other nationalities were also present, including customers from Peru,” Sen told The Hacker News. The leaked information also includes online payment account details with access for nearly 40,000 wirecard.com.br The company then contacted Amazon, which asked Natura & Co.

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Data Branding National Cards 234

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.

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North Dakota Cards Regulation Fraud 78

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!

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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.

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Policies Mobile Maine Fraud 130

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

SEPTEMBER 30, 2019

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

Boston 177

Boston Security System Cards 177

FICO

JUNE 11, 2020

With an October 1, 2020 deadline to have EMV chip card readers installed on the nation’s 1 million fuel dispensing pumps, the number that remain to be converted could be as high as 75%, industry experts say. Gas stations are a hotbed for fraud. Highest 3 fraud rate states: Nevada, Florida, Michigan.

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New Hampshire Alaska Nevada Fraud 72

PYMNTS

MAY 16, 2019

A recent report from KrebsonSecurity said that “until quite recently, credit card data stolen from online merchants has been worth far less in the cybercrime underground than cards pilfered from hacked brick-and-mortar stores. No matter the reason or method, it seems fraud prevention for retailers continues to get more challenging.

Retail 218

Retail Online Cards Data 218

FICO

MARCH 25, 2019

When opening new online accounts, fraud professionals must protect their organization from fraud and keep legitimate customers happy. Application fraud controls must be strong enough to prevent significant losses, but at the same time the application processes shouldn’t be off-putting to customers.

Fraud 40

Fraud Survey National Online 40

NCR

JULY 28, 2017

This convenience offers many advantages to the consumer, but financial institutions and consumers need to recognize one of the biggest disadvantages of this technological expansion: the increased risk of digital banking fraud. million instances of fraud and two million computer misuse offenses in England and Wales alone. .

Fraud 74

Fraud Digital Banking Survey Security 74

NCR

AUGUST 29, 2016

The number of EMV payment cards in global circulation had rocketed more than 40 per cent year on year by the end of 2015, new statistics from EMVCo have revealed. billion ‘chip-and-pin’ cards when the data was collected, and 35.8 The region’s chip card adoption rate jumped to 52.3 per cent of cards issued.

Cards 75

Cards Regional National America 75

Banking 2020

AUGUST 27, 2015

The US has been identified as the leading country for card fraud, after a new study revealed almost half of global losses to the crime last year occurred in the nation. per cent of worldwide plastic card losses – including credit, debit and prepaid cards – took place in the US, amounting to $7.86

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Fraud US Cards National 40

PYMNTS

OCTOBER 10, 2019

North America and Europe also have presented strong user bases, while demand has been slower for countries with less-developed internet and communication technology sectors, such as those in Latin America, the Middle East and Africa. Cryptocurrency And Credit Cards. I think credit cards will be on the market for a long time.”.

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Marketing Payments Cards cryptocurrency 116

NCR

NOVEMBER 30, 2016

The Payment Services Directive 2 (PSD2) builds on regulations set out in PSD1 in 2009 to help create a single, Europe-wide system for payments and member states are required to implement the rules into national law by 13th January 2018. The post What opportunities will PSD2 present to FIs? What are the key changes?

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Regulation National Strategy Examples 40