South State Correspondent

MAY 13, 2024

The major themes of fraud, artificial intelligence (AI), expansion of instant payments, open banking, and regulation were particularly relevant to your roles as executives, risk managers, compliance officers, and technology leaders. Unfortunately, most banks don’t gather fraud data across payment channels or track “pre-crime events.”

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Conference Payments Fraud Data 195

PYMNTS

NOVEMBER 23, 2020

And even before then, as evidenced by an earlier conversation between Karen Webster and Drew Edwards , CEO of Ingo Money , mobile deposit fraud was increasingly becoming a favorite vector for criminals. Back then, Edwards noted that mobile check fraud was escalating so much that some banks were shutting off the feature entirely.

Fraud 252

Fraud Mobile Technology Course 252

Abrigo

MAY 8, 2024

You might also like this webinar, "The check's in the mail: Understanding and preventing check fraud." Many financial institutions have been using artificial intelligence (AI) for years, particularly in supporting cybersecurity and anti-fraud efforts. How banks and credit unions use genAI today Short supporting copy.

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Examples Fraud Resources Risk Management 221

PYMNTS

NOVEMBER 10, 2020

PSCU , which is billed as the nation's premier credit union service organization (CUSO), has announced its new Enhanced Fraud Services system, which the company said “has helped 10 early adopter credit unions combat fraud of all types, ranging from first-party chargeback fraud to identifying card information being sold on the dark web.”.

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Fraud Virginia Florida Risk Management 151

PYMNTS

MAY 10, 2018

In an interview with PYMNTS, National Business Systems VP David Riley noted a lack of awareness in the field for smaller firms across several verticals. We have some sectors that are hit hard with EMV fraud and others that are barely touched,” Riley explained. “I Millennials are traveling and leaving their credit cards at home.

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National System United States Fraud 130

PYMNTS

OCTOBER 13, 2017

Australian government agencies are reportedly plagued by company card fraud and misuse, according to new analysis from media company Fairfax Media. The ABS had 156 cases of inappropriate spend on its cards, Fairfax found, valuing more than $43,000 in misspend. Reports in the Sydney Morning Herald on Thursday (Oct.

Fraud 100

Fraud Cards Company Analysis 100

PYMNTS

JULY 30, 2020

With so much highbrow industry chatter about topics like payments fraud detection, it’s good to remember that this is actual crime-fighting. On the FBI’s Cyber Most-Wanted list are nationals of at least a half-dozen countries, some with state-level backing. The Fatigue-Fraud Connection. Check it out. These attacks cost FIs $10.2

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PYMNTS

JUNE 24, 2020

Those less tech-savvy individuals represent juicy targets for fraudsters, who have been fine-tuning card-not-present (CNP) schemes to work across all manner of channels during the pandemic as we wield smartphones to make transactions or bank over the phone. CNP fraud, Nolte said, has become a numbers game.

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Fraud Security Cards Course 262

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.

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Fraud social media Cards Security 52

PYMNTS

JANUARY 31, 2018

Following a malware attack that allowed “unauthorized parties” to access customer credit card information, off-price retailer National Stores is seeking to prevent fraudulent activity and improve the security of its point-of-sale (POS) systems, the company said in an announcement. “We 11 may be involved in the breach.

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National Data Payments Cards 138

PYMNTS

JANUARY 8, 2020

Credit card payments are increasingly enabled via EMV chips rather than magnetic stripes, but these methods frequently suffer from a lack of diligent digital identity verification. Nations around the world are continuing to implement digital ID systems. EMV Cards Face Crucial Verification Security Gaps.

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Fraud Cards Security National 169

PYMNTS

SEPTEMBER 23, 2020

In today’s top payments news around the world, PayPal and Mastercard are adding more European Union (EU) countries to a debit card offering, while European Central Bank (ECB) President Christine Lagarde has called for a digital euro. PayPal, Mastercard Add 5 EU Countries To Debit Card Offering. Germany and the United Kingdom.

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Cards Google Regulation cryptocurrency 214

PYMNTS

DECEMBER 8, 2017

They say gift cards are the gift that always fits. Thieves simply walk into Walmart, Target, Home Depot, Lowe’s or another big-name retailer, steal an item, return it at a different store without a receipt and receive a gift card in return, which they can then turn around and sell to a pawn shop or secondary store for a lower price.

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Fraud Cards Tennessee Retail 105

Abrigo

MAY 15, 2019

May 15 is National Senior Fraud Awareness Day , and while it is crucial to have a date to call attention to the nefarious actors that target the elderly, it is even more critical to make sure your institution is catching all forms of fraud that affect your customers or members, no matter their age.

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Fraud Software System National 150

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

JULY 15, 2020

With the National Restaurant Association projecting up to $240 billion in losses by the end of 2020 and millions of restaurant jobs gone, along with their former workplaces, a nation mourns our glorious gastronomic past. Another involves heightened fraud vectors swimming like sharks around digital-first first-timers.

Fraud 150

Fraud Mobile Customer Experience Online 150

Abrigo

APRIL 18, 2022

to continue being the world leader in the global financial system and innovative technology. Learn how your institution compares with peers when it comes to fraud prevention. National objectives in cryptocurrency policy. derives significant economic and national security benefits from the central role that the U.

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cryptocurrency Fraud United States Leadership 195

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

DECEMBER 11, 2017

It appears the ever-inventive thieves of the world have found a new way to make gift card fraud work for them this holiday season, according to the Better Business Bureau (BBB). This year the scam relies on thieves grabbing cards off the rack, scratching the film that covers the card PIN underneath and copying the relevant numbers.

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Cards Fraud Retail National 129

PYMNTS

APRIL 23, 2019

Tick down the list of offerings spanning decades (the Mac, the iPhone, the iPod, iTunes, the iOS operating system/ecosystem), and one can find that the ways we communicate, listen, stream and, indeed, interact with technology have all shifted. The digital card will be linked to Apple Pay.

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Apple Cards Payments Course 200

PYMNTS

SEPTEMBER 23, 2019

What these studies didn’t reveal is that construction management software and tools like virtual cards can also speed payments and free up cash flow. How Virtual and Purchasing Cards Can Help. Virtual cards are a form of ePayables that act like a traditional credit card. Only 6 percent wanted mobile access.

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Industry Cards Software Phoenix 169

Abrigo

FEBRUARY 9, 2024

residential real estate sector but safeguarding our economic and national security.” Know the red flags for money laundering. This includes obtaining detailed information, such as proof of identity and source of funds. Transaction monitoring: Establish systems to monitor real estate transactions for suspicious activities.

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Training Fraud Trends Report 195

Abrigo

FEBRUARY 15, 2023

Financial institutions are attractive targets for terrorists who use websites, network systems, and employees to steal credentials and proprietary information. financial system, business functions, and democratic processes. Fraud - Fraud is believed to be the largest generator of proceeds for criminals in the U.S.

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Fraud United States Training Policies 195

PYMNTS

FEBRUARY 21, 2018

Beware the credit card test. There may be no escaping credit card fraud, as it comes in one form or another. Overall, one subset of card fraud is on the rise: Last year, Radial’s eCommerce Fraud Technology Lab said credit card testing was up triple-digit percentage points on an annualized basis.

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Cards Fraud Data System 156

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

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

SEPTEMBER 23, 2020

A recent study from PwC found that 47 percent of companies had experienced fraud at least once in the past two years, with a grand total of $42 billion in funds stolen over this period of time. There were 223,163 cases of identity theft that year across all generations, with 42 percent of them consisting of bank and credit card fraud.

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Technology Report Fraud Study 208

PYMNTS

DECEMBER 21, 2020

Fraud instances have risen dramatically since the pandemic began, placing financial strains on consumers and merchants alike. and five other nations identified 100 million potentially fraudulent transactions between March 11 and April 28, for example. One recent report that surveyed consumers from the U.K., is projected to reach $794.5

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Fraud Cards Retail Resources 210

PYMNTS

AUGUST 14, 2018

According to the report, citing a senior bank official, the hackers used a malware attack to clone thousands of the bank’s debit cards over the course of two days. The fraud was carried out on Aug. Cosmos Bank said its core banking system was not hacked and that the malware was on the switch. 11 and Aug.

Cards 102

Cards ATM Fraud Course 102

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

JANUARY 13, 2020

The launch of EMV chip cards in the U.S. in the early 2000s had much of the hoped-for effect: By 2017, both Mastercard and Visa had reported that counterfeit fraud was more than halved. Despite their success, the use of EMV cards with no required PIN codes has left a door unlocked for crooks. It’s not all good news.

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Trends Fraud Cards National 136

Abrigo

JANUARY 3, 2024

The final access rule does not dictate how to receive consent and allows for flexibility based on differences in FIs across the nation. financial system and our global reputation. FinCEN is conducting outreach to educate businesses by holding national briefings and issuing fact sheets, Q&A, and videos.

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Fraud Regulation Report Compliance 221

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

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. In the U.S.

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Cards Security United States Technology 187

PYMNTS

NOVEMBER 9, 2017

Payments System Regulator (PSR) is taking steps to address the 100 payment scams hitting consumers and businesses every day. Banks don’t reimburse their consumer and business customers hit by such a scam, unlike reimbursements made for fraudulent payments on card products, reports in the Telegraph explained. more than a year ago.

Fraud 100

Fraud Payments Regulation System 100

PYMNTS

MARCH 23, 2017

But what happens when the prime mover behind the theft is an actual nation? Acting not against individuals, but another nation? The money made its way to the Philippines after infiltrators used international bank access codes tied to the SWIFT system, and not by “breaking” into the Fed’s bank itself.

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PYMNTS

APRIL 25, 2016

Plus, the latest analysis on alternative lending demand, expense management fraud and the gap between what CFOs have for their companies and what they need. Of course, we have the quarterly numbers, too, including insight into how American Express’ commercial card business is holding up. companies, reports said.

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Fraud Cards Lending Analysis 100