PYMNTS

MAY 18, 2020

Mastercard has announced a series of consumer protections aimed at protecting customers and merchants from fraud at fuel stations. The enhanced consumer protection program was designed to provide merchants and banks with tools to help them navigate the heightened risk of fraud, Mastercard said.

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Perficient

NOVEMBER 30, 2022

Our Payments Practice recently had the opportunity to represent Perficient at the 2022 Real-time Payments & Fraud Management Summit held in New York City. . These services are different from NACHA’s “Same Day ACH,” or Card Network solutions. Plan and adapt or chase and catch up. .

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Fraud Management Payments New York City 275

Independent Banker

NOVEMBER 30, 2021

As more customers moved online, fraudsters took advantage of new and increasingly inventive opportunities to commit remote authentication fraud. These types of scams fall under the broad term of remote authentication fraud, and they’re increasingly common—and inventive. Examples of remote authentication fraud.

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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.

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PYMNTS

JANUARY 8, 2020

A New York man, 39-year-old Bogdan Rusu, was sentenced to 60 months in prison on charges of using credit card skimming tactics to steal $390,141 from various New Jersey banks, according to a Department of Justice (DOJ) report. From there, they used the information to steal customers’ money from their accounts.

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FICO

FEBRUARY 16, 2023

For 2022, we saw a significant increase in compromised cards resulting from skimming activity. Total compromise cards were up 368% from 2021, with more than 161,000 impacted cards identified — nearly a 5x increase over 2021. Now that we have data from the entire year to review, we are seeing the alarming trend continue.

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PYMNTS

JULY 8, 2020

Adding to the series of legal difficulties for Wirecard , the Justice Department is looking to see if the German payments company had an essential part in a purported $100 million bank fraud case involving a digital cannabis firm, The Wall Street Journal reported, citing unnamed sources. The FBI’s New York field office and the U.S.

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PYMNTS

APRIL 28, 2020

Richard Weber has been named to the position of general counsel at the New York State Department of Financial Services (DFS), according to an announcement from Superintendent of Financial Services Linda A. Weber led high-profile investigations into Silk Road and FIFA.

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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.

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PYMNTS

NOVEMBER 10, 2020

Atlanta payments encryption firm Bluefin is partnering with New York mobile payments processor PAAY to advance eCommerce security. New York-headquartered PAAY, a consumer authentication innovator co-founded in 2011 by James Ruffer and Yitz Mendlowitz, has a new security solution that aims to obliterate hacking and fraud threats.

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PYMNTS

APRIL 10, 2018

With fraud on the rise, credit card networks have realized that customer signatures are simply not a reliable way to authenticate someone’s identity — and some of the country’s largest retailers agree. Each card network is setting its own set of rules regarding signatures. The plan is to soon get rid of them completely.

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PYMNTS

JANUARY 3, 2020

Parking meters in New York City won’t take credit cards because they weren’t programmed to get card payments after Jan. 1, 2020, according to a report by the New York Post. All through the five boroughs, people were reporting that meters wouldn’t accept credit card payments due to a software bug.

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PYMNTS

MARCH 1, 2019

He served jail time in connection with fraud and conspiracy, centered on accounting tricks that were partly used to cover financial losses. The company posted a $600 million loss, The New York Times noted this week, and wrote down shareholder equity by $1.2 Founder and Chairman Kenneth L. Founder and Chairman Kenneth L.

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PYMNTS

OCTOBER 7, 2016

A judge is allowing small businesses to sue the major credit card companies for forcing them to adopt chip readers at the checkout counter — a case that could become a multi-billion-dollar class action. The lawsuit takes aim at the nationwide upgrade to chip-based credit cards, an awkward rollout that’s been annoying for stores and shoppers.

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PYMNTS

OCTOBER 26, 2017

In New York, a worker at Chevron Phillips Chemical Co. 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 p-card fraud doesn’t discriminate against small and large companies either, he said.

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PYMNTS

APRIL 30, 2020

Feng Chen, 31, of Brooklyn, New York, was charged with alleged theft of U.S. mail that included some $12,000 in government stimulus checks, other checks and credit cards, authorities said. He was arrested after police found an open bench warrant in his name for criminal charges involving identity theft in New York County. .

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New York Fraud Cards Report 141

PYMNTS

JUNE 19, 2018

The Federal Trade Commission (FTC) has announced a new law enforcement initiative targeting operations seeking to defraud small businesses. In partnership with the offices of eight state attorneys general (AGs), the New York division of the U.S. Postal Inspection Service, two U.S.

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Maine Fraud Operations Survey 108

PYMNTS

APRIL 1, 2019

Buca di Beppo , the Italian restaurant chain, reportedly knew about a data breach that resulted in two million credit card and debit numbers being stolen since Feb. KrebsOnSecurity said credit and debit card accounts from Earl Enterprises restaurants were up for sale as of Feb. 21 — but waited until the end of March to reveal it.

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Las Vegas Cards Data Los Angeles 124

PYMNTS

DECEMBER 28, 2020

Cryptocurrency lending platform Vauld raised $2 million to expand into full banking services, including issuing credit and debit cards and providing fiat and crypto order books, CoinDesk reported. The SEC filed its complaint against Qin and Virgil Capital in the Southern District of New York on Dec.

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PYMNTS

OCTOBER 15, 2019

Data from more than 26 million credit and debit cards was stolen from BriansClub, an underground marketplace for stolen credit card information, KrebsOnSecurity reported Tuesday (Oct. According to the leaked data, card information for sale on BriansClub showed a steady increase of inventory. million card records for sale.

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Cards New York City New York Data 122

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 Good news, of course, but that doesn’t mean the pressure is any less. Classic fraud deflection is rules-based.

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FICO

APRIL 29, 2022

With any change, fraud comes hand-in-hand. Some of the changes are related to new digital payments methods like P2P apps, tap-to-pay, and cryptocurrency, which are all growing options in retail environments. All these evolutions mean a changing landscape for retail fraud and scam trends.

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Fraud Retail Payments cryptocurrency 52

FICO

DECEMBER 7, 2021

But of course I bring my smartphone, which contains more of my life than ever before: credit and debit cards, vaccine pass, car insurance, and all manner of apps that I’ve woven into daily routines: Amazon and Walmart, PayPal and Venmo, drugstore, grocery and food delivery, banking, brokerage and more. A Launch Pad for Fraudsters.

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Fraud Cards Payments Course 52

PYMNTS

AUGUST 9, 2020

This will be done through a smart card, a credit card or cash at toll points across the country. Motorists will be able to sign up quickly through the bank’s app in a new registration field, Crypto News reported.

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blockchain Bitcoin New York cryptocurrency 224

PYMNTS

AUGUST 1, 2019

Corporate credit card data was not exposed in the massive Capital One data breach that came to light earlier this week, according to Business Travel News reports. The data breach also prompted a class action lawsuit, an investigation by the New York attorney general, and new efforts by U.S.

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PYMNTS

SEPTEMBER 30, 2020

In today’s top news in digital-first banking, global card issuing platform Marqeta debuted its Tokenization-as-a-Service (TaaS) offering, while the Bank of New York Mellon (BNY Mellon) has named a new executive for global market infrastructure. Marqeta Introduces Tokenization-as-a-Service For Card Issuers.

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Marketing New York Cards Conference 130

FICO

JULY 1, 2022

Global Fraud Trends: What’s Happening and What’s Next? Here are the highlights from the fraud trends breakout session at FICO World 2022 with a panel of fraud professionals from Brazil, Turkey and North America. A lot has changed since the last pre-pandemic FICO World conference, held in November 2019 in New York City.

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PYMNTS

OCTOBER 6, 2020

Case in point: The Wall Street Journal recently reported that the bankrupt owner of New York Sports Clubs and Lucille Roberts might have to pay out about $850,000 in chargebacks and refunds. The Fraud Factor. Of course, with the massive uptick in card-not-present transactions, fraud has been on an upswing, too.

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Fraud Exercises Examples New York 205

FICO

APRIL 8, 2022

Data Orchestration for Fraud Prevention. There has been an awful lot of unsettling news about scams and fraud lately. As it happens, orchestration (of both data and process) is one of the most potent weapons in fighting scams and fraud. Scams Are Front Page News. Scams Are Front Page News. A crescendo, even.

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Fraud Data Management Examples 52

PYMNTS

SEPTEMBER 20, 2019

Plot Thickens as FBI Probes Alleged MyPayrollHR Fraud. News came at the end of the week that the FBI and the New York State Department of Labor are investigating allegations that MyPayrollHR , which abruptly shut down earlier in the month, diverted millions of dollars into its coffers that should have gone to employees.

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PYMNTS

DECEMBER 4, 2018

News came this week that New York Attorney General Barbara Underwood has opened an investigation into small business lending – specifically, whether finance firms known as merchant cash advance companies have been engaged in abusing their smaller customers. That disclosure comes from an anonymous source.

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New York Lending System Report 156

PYMNTS

APRIL 2, 2018

Retailer Hudson’s Bay has disclosed that customers at Saks and Lord & Taylor stores in North America have had their payment cards compromised. The breach, which is believed to involve 5 million cards, would be one of the largest involving payment cards over the past year. A company spokeswoman declined to comment further.

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Cards America New York Security 108

PYMNTS

DECEMBER 20, 2019

Others are getting into the act, and quickly too, including New York City-based mobile store Bandit, various pop-ups and so-called “phantom kitchens” without seating from quick-service restaurants (QSRs) including Wendy’s and Chick-Fil-A. Fraudsters rely on this fact and tirelessly seek to exploit new openings. Chargebacks Bite.

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Mobile Fraud New York City Metro 131

PYMNTS

OCTOBER 23, 2018

The New York Attorney General announced that Wells Fargo & Company has agreed to pay a $65 million fine in connection with its “cross-sell” business model, related sales practices, and publicly reported cross-sell metrics. When the truth was finally made public, New York investors lost millions of dollars.

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New York Fraud Community Bank Strategy 139

PYMNTS

DECEMBER 4, 2018

Banks give consumers confidence that their data won’t fall into the wrong hands when they make purchases or reservations, thanks to investments in fraud detection and prevention. percent: The share of brands that pick New York as the location for their first pop-up shops. And Tiffany & Co. ’s

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Data New York City New York Fraud 100

PYMNTS

OCTOBER 7, 2020

With transactions that become irreversible almost instantaneously, bitcoin and other cryptocurrencies are winning new converts — among scammers eager to avoid credit card chargebacks that can eat into their ill-gotten gains. So, use your credit card to buy cryptocurrency that you give a scammer and you might be stuck.

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Bitcoin cryptocurrency Fraud Cards 233

PYMNTS

FEBRUARY 15, 2019

Amazon and the city of New York managed to pull off one of history’s more spectacular break-ups this week, with the Valentine’s Day announcement that the city and the nation’s largest eCommerce firm would not be joining forces to build half of Amazon’s HQ2 in Long Island City. As noted by Kathryn S. How can anyone be surprised?”

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