FICO

JUNE 14, 2022

Fraud Trends for 2022: Top 5 Includes "Scamdemic" and Bad Bots. FICO's annual conference exposed some of the biggest fraud trends today, from the "scamdemic" to bot attacks. In May, 800 FICO customers and partners joined FICO colleagues at the first FICO World since the pre-pandemic event in New York in 2019.

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Fraud Trends Analytics Cards 52

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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Fraud Trends South Carolina Risk Management 52

Abrigo

MARCH 22, 2023

The use of several financial institutions with no distinct purpose beyond the movement of funds. For instance, a TBML case was identified where illicitly obtained funds were sent from Africa (Nigeria/Benin) to purchase cars from used auto dealers in the Midwest U.S.

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Training Fraud New Jersey Regulation 195

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 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

JUNE 29, 2020

As things now stand, Wirecard is shaping up to be one of the biggest financial frauds in years, drawing at least some comparisons to Enron from decades past. The New York Times noted on June 26 that stock research services targeting short sellers (who bet that prices will decline) had been signaling that Wirecard was a “house of cards.”

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New York Comparison Fraud Cards 178

PYMNTS

APRIL 24, 2017

A Russian hacker was sentenced to 27 years in federal prison for stealing credit card numbers and selling the data online, according to The New York Times. Seleznev was convicted for running a credit card and identity theft business out of his homes in Indonesia and Russia. “This prosecution is unprecedented.”

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FICO

AUGUST 14, 2019

In New York City, retail icons Barneys New York and Dean & Deluca are in bankruptcy , victims of rising rents and a dramatic increase in online purchases of luxury goods. These trends are catnip for fraudsters looking to perpetrate high-value card-not-present (CNP) fraud. Fighting Back Against CNP Fraud.

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PYMNTS

JANUARY 27, 2020

The tests involved the Amazon-owned grocery chain’s New York employees, along with custom-fitted vending machines. As per the New York Post, the technology was set to make a wider appearance before too long. Biometrics is still a relatively new player in the retail world. Amazon Plans.

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PYMNTS

JANUARY 20, 2020

In early September 2019, reports emerged that Amazon was testing hand recognition-based payments at Whole Foods locations using its New York employees and some custom-fitted vending machines as an initial experiment. There were also New York Post reports that the technology might make an appearance at Whole Food checkouts this year.

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Payments Data Cards New York 277

PYMNTS

JULY 6, 2020

Wirecard continues to dominate the headlines in the realm of corporate fraud thanks to $2 billion missing from the company’s books, but it’s not the only company at the center of questionable activity. 34 percent of furloughed employees were asked to commit furlough fraud , according to a survey from U.K.-based

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Fraud Missouri California Report 148

Abrigo

JULY 17, 2019

Cybercrime is on the rise within financial institutions and other businesses and continues to be at the forefront of the minds of those in the fraud prevention field. Although not all of the following types of fraud are fully internet-based, the IC3 statistics represent the cybercrime side of these crimes.

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Fraud Training Software System 150

PYMNTS

OCTOBER 24, 2018

Fewer consumers use physical currency when making purchases, and are instead turning to more modern, digital methods of payment, particularly when making purchases online with debit cards. Fraud is a huge consideration for us,” Bonkowski said. and around the globe. and around the globe. Onboarding Global Consumers.

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Fraud Cards Online Data 166

PYMNTS

JULY 11, 2018

Falkowski was sentenced to 30 months in a federal prison for being the brains behind a $1 million fraud scam. To protect himself, he created faulty invoices to trick QVC into paying for his fraud. The fraud happened from 2008 until he was fired in 2013, noted the report. QVC former director James D.

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Company New York City Fraud Retail 102

PYMNTS

JUNE 5, 2019

But news this week from the police beat reminds us not only that the iPhone remains a juicy target for thieves, but that it can also play a role in pretty brazen illegal schemes – a trend that has played out in other parts of the digital sphere as well. Counterfeit Debit Cards. The work involved wasn’t the most complicated, either.

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cryptocurrency Fraud New York City social media 132

PYMNTS

JUNE 20, 2018

The efforts come in tandem with eight state attorneys general, in addition to the New York Division of the U.S. Collectively, the agencies and the attorneys stated that they had 24 actions in place, all geared toward fraud attempts and crimes against small businesses through a period of several months.

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South Carolina Survey Fraud Florida 114

PYMNTS

FEBRUARY 23, 2017

. “Gulf has always aimed to remain vigilant in our efforts to prevent fraud at the pumps and in stores, while providing our customers with an exceptional experience,” said Margaret McDonnell, senior director of credit card operations at Gulf Oil.

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Mobile Payments New York Fraud 116

PYMNTS

FEBRUARY 4, 2019

Former Israeli intelligence agents or military members have taken the knowledge they gained during their service and contributed to artificial intelligence (AI), fraud prevention and other efforts that do make — or can end up making — a difference in the daily lives of consumers. Department of Defense (DOD) or NATO , for instance.

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Fraud Illinois Retail Security 161

PYMNTS

JUNE 19, 2016

On the EMV front, Home Depot decided it felt strongly enough about Chip and PIN that that it sue MasterCard and Visa over it.Walmart Canada decided it would stop accepting Visa cards since they say they are too expensive. and Canada affected 56 million debit and credit cards, far more than the attack on Target customers.

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Retail Cards Data Atlanta 100

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

MAY 28, 2019

million buyers who operate in industries such as website development, logo design and blog writing. The company recently filed paperwork with the Securities & Exchange Commission (SEC) to go public on the New York Stock Exchange. billion – of funds were lost to card fraud in 2018, up from $1.4 billion in 2017.

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Apple Mobile Fraud Branding 159

PYMNTS

APRIL 18, 2019

The New York District Attorney’s (DA’s) office has shut down one of the largest drug vendors on the dark web, sinmed, as well as arrested the three men who allegedly ran it. Over the course of their operation, the men shipped more than 1,000 packages to buyers in 43 states, and laundered $2.3

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ATM Online New York Bitcoin 100

CB Insights

MAY 23, 2019

Below, we take a look at some of these frauds and the lessons they can teach entrepreneurs hoping to launch their own products, companies, and funds. Mozido’s fintech fraud fiasco. Virgin Hyperloop One’s utopian vision derailed by fraud. WrkRiot’s short-lived house of cards falls down.

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PYMNTS

DECEMBER 4, 2017

According to a news report in The Wall Street Journal , in November PayPal suspended the operations of TIO Networks, which makes digital bill payment tools for companies and operates kiosks in retail stores. million consumers, including the credit card numbers of 209,000 people.

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PYMNTS

AUGUST 15, 2018

On a computer, the software collects data on the rhythm of the keystrokes and how they use the mouse, according to a report in The New York Times. Observers see a lucrative opening for biometrics within the new PSD2 regime. For instance, Mastercard has a plan for fingerprint-scanning cards in the U.K. Privacy Concerns.

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Fraud Software New York Security 112

CFPB Monitor

NOVEMBER 1, 2018

The New York Attorney General has filed a lawsuit against a group of commonly owned and managed companies headquartered in New York that include companies operating retail jewelry stores in numerous states under the name Harris Jewelry and another company providing financing for sales made at such stores under the name Consumer Adjustment Corp.

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New York Fraud Retail Operations 60

PYMNTS

AUGUST 1, 2018

Supreme Court struck down state bans on sports betting, MGM Resorts International has signed deals with the NBA and other operations that could mark the first chapter of the country’s new sports and gambling culture. MGM officials will also reportedly help the league detect fraud and game-fixing. GVC Joint Venture.

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PYMNTS

MARCH 13, 2017

The Securities and Exchange Commission announced Friday (March 11) that it has lodged charges against two ex-executives at a credit card processing company for masterminding a scheme to steal millions of dollars through fake expense reimbursements, invoices that were inflated and other improper accounting tactics.

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New York California Regional Cards 101

PYMNTS

OCTOBER 31, 2016

According to a report in New York Post , KPMG has green-lighted Wells Fargo’s public financial documents from 2011 to 2016, which are the five years the Consumer Financial Protection Bureau honed in on with its investigation of the fake accounts, said Sen. “But President and Chief Operating Officer Timothy Sloan replaced Stumpf.

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PYMNTS

FEBRUARY 18, 2019

We had roughly 340 execs register to listen live to the two of us banter about the people, processes and tech necessary to do more than simply rebrand what’s typically described as the fraud and risk departments of digital platforms. Card Networks Want to Raise Their Prices. Amazon Takes Its Bite Out of the Big Apple.

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Cards Course Study New York 169

PYMNTS

AUGUST 27, 2019

In a market like Brazil, he noted, most consumers don’t carry cards issued by global card brands. However, offering it isn’t enough, of course; it must be secure, which is why the second big area of interest when going international as a marketplace is understanding how one’s fraud-management approach must fundamentally shift. .

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Payments Fraud Marketing How To 180

PYMNTS

FEBRUARY 16, 2019

After heavy speculation that not all was proceeding smoothly in the deal to put one-half of Amazon’s second headquarters in Long Island City, New York, Amazon announced via a blog post that the deal is indeed off. The Crystal City, Virginia HQ2 plans are still underway, as are plans for a new operations hub in Nashville.

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Apple Payments New York Mobile 143

PYMNTS

DECEMBER 24, 2019

26, the eCommerce operator — via its Alexa Skills Kit Blog — announced the debut of “two new Alexa capabilities that will help create a more natural and intuitive voice experience for your customers.”. The company has an option to transfer money to the bank without a debit card for the same fee. Now, more U.S.

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Cards Payments Study Examples 160

PYMNTS

JUNE 28, 2019

Car IQ’s technology aims to automate and accelerate fleet payments for scenarios like vehicle maintenance and other services, without the need for human intervention or credit cards — a tool that the company said will combat fraud. This week, the company revealed a $24 million investment from Oak HC/FT.

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Capital Analytics San Francisco Lending 108

Abrigo

JANUARY 13, 2021

Department of Homeland Security, traffickers might use violence, fraud, manipulation, or false promises of well-paying jobs or romantic relationships to lure victims into some type of labor or commercial sexual act. Human trafficking involves the use of force, fraud, or coercion to exploit someone. According to the U.S.

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Training Fraud National United States 195

Independent Banker

DECEMBER 31, 2021

will continue its mission to fund microloans to new small businesses in New York City’s low-income neighborhoods, says president and CEO Carlos P. Badger Bank is having trouble finding staff “across the board,” from operations to tellers and trust officers. “We Ponce Bank, a $1.5 Click to enlarge. It’s a struggle.”.

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Community Bank Community Lending Louisiana 144

FICO

AUGUST 29, 2022

As of April 2022, the average credit card utilization was 31%. The New York Fed’s new report provides insight that credit card limits sit at an all-time high exceeding $4 trillion. The New York Fed’s new report provides insight that credit card limits sit at an all-time high exceeding $4 trillion.

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Payments National San Diego Analytics 98