PYMNTS

JANUARY 11, 2021

To that end, late last week Equifax said it had reached a deal to acquire fraud prevention and digital ID firm Kount for $640 million. As reported, the deal will enable Equifax to boost its global presence in digital ID and fraud prevention, including through the Kount Identity Trust Global Network. In a Monday (Jan.

Fraud 158

Fraud Online ATM United States 158

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.

Fraud 116

Fraud United States Regional Cards 116

PYMNTS

MARCH 12, 2020

And according to Jennifer Schroeder, executive vice president of product management at PULSE, prepaid and payroll cards are proving increasingly popular among forward-thinking employers. As has been reported, the platform can help issuers manage, or restrict, transactions across groups of compromised cards.

Cards 154

Cards Fraud United States Payments 154

PYMNTS

OCTOBER 30, 2020

It cannot be overstated how integral non-cash payments are to the global economy, with the United States processing more than 174.2 Most customers bypass dealing with merchants entirely when trying to stage chargeback fraud, with 76 percent of cardholders going directly to the payment card issuer.

Operations 228

Operations Payments Compliance System 228

PYMNTS

JUNE 16, 2020

As much as $26 billion in unemployment benefits in the United States is either being taken by fraudsters or improperly made for one reason or another, a top federal government watchdog estimates. The payments came by way of direct deposits, paper checks and debit cards. Scott Dahl , the inspector general (IG) of the U.S.

Fraud 158

Fraud United States System Operations 158

PYMNTS

MARCH 15, 2019

Barclays said this week that as many as one in seven small businesses (SMBs) have been victimized by invoice fraud within the past 12 months. Emailage CEO Rei Carvalho said in a statement, “This research shows a lack of concern among many SMB owners when it comes to fraud prevention.

Fraud 130

Fraud Report Nebraska United States 130

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.

Cards 187

Cards Security United States Technology 187

PYMNTS

SEPTEMBER 3, 2019

Banks may process $1 million worth of credit card fraud requests in a day, but ad fraud detectors can face up to 20,000 requests every second. Ad fraud is growing even worse due to the rise of real-time bidding (RTB), an advertising model in which advertisers automatically bid on ad placements as web pages are loaded.

Fraud 123

Fraud San Francisco social media Tools 123

PYMNTS

SEPTEMBER 11, 2019

Fraud Trends. Drilling down a bit, the FBI found increased incidences of gift card-related scams , and said, “The victims received a spoofed email, a spoofed phone call or a spoofed text from a person in authority, requesting the victim purchase multiple gift cards for either personal or business reasons.”. Fraud Crackdown.

Fraud 163

Fraud social media Cards Bitcoin 163

PYMNTS

JULY 17, 2018

Since the migration to EMV in the largest card market in the world (the U.S. in October of 2015), the incidences of counterfeit card fraud at chip-enabled merchants have fallen sharply — some 76 percent, as reported by card networks. Sometimes the cards are ancillary to a different criminal purpose.

Cards 109

Cards Fraud Regional Training 109

PYMNTS

DECEMBER 28, 2020

The pandemic has cost more than 300,000 lives in the United States alone, and it has also challenged many institutions — such as credit unions (CUs) — that were never designed to operate on a primarily remote basis. Credit unions have stepped up to reinforce their digital operations during the pandemic.

North Carolina 197

North Carolina Houston Fraud Innovation 197

PYMNTS

JANUARY 21, 2021

Financial institutions (FIs), FinTechs and other businesses that are looking to enable these rapid payments must therefore ensure that their security and fraud-fighting approaches are up to the challenge. The Deep Dive examines the various fraud schemes threatening these apps as well as how providers are working to strike back.

Fraud 231

Fraud Security Payments United States 231

FICO

JUNE 14, 2021

In this post, I’ll provide a quick overview of how BNPL works, and share my thoughts on how BNPL fraud can occur and where the financial liability lays. . For many options, borrowers first create an account with each BNPL firm they want to use, providing their debit card or bank information as the payment mechanism. A BNPL Primer.

Fraud 52

Fraud Cards Millennials Utah 52

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.”

Cards 118

Cards US Seattle United States 118

PYMNTS

APRIL 22, 2016

Regardless of the company, its industry, its customers or location, online fraud remains top of mind. The urgency of robust and multilayered fraud detection systems becomes especially clear against a backdrop where card-not-present fraud is likely to grow by leaps and bounds in the wake of the EMV liability shift from last year.

Fraud 100

Fraud Idaho Innovation San Francisco 100

PYMNTS

FEBRUARY 7, 2018

The newswire reported that law enforcement officials had so far nabbed 13 defendants in Australia, the United Kingdom, Italy, France, Serbia and the United States. Separately, CBS MarketWatch reported that those indicted were tied to a group called the Infraud Organization, which operated with the slogan “In Fraud We Trust. ”.

Las Vegas 115

Las Vegas United States Fraud Cards 115

PYMNTS

JULY 26, 2017

Developers can literally come in, sign up and start building a card product,” said Gardner. The typical way of building a card product, by going to a bank and leveraging that bank’s platform, need no longer be the norm.

Cards 125

Cards System United States Payments 125

PYMNTS

JANUARY 30, 2018

29), ThreatMetrix will be folded into RELX’s Risk & Business Analytics operations, which does business under the LexisNexis Risk Solutions brand. Each company, said the CEO, comes at the fraud problem from a different perspective. Each company, said the CEO, comes at the fraud problem from a different perspective.

Fraud 109

Fraud Analytics Data United States 109

FICO

JULY 13, 2020

But for criminals, working individually or in fraud rings, these vehicles (or any vehicle, for that matter), present an attractive opportunity: finance the vehicle, sell it illicitly, and pocket the cash. An estimated 10% to 15% of auto finance companies’ bad debt book actually classifiable as first-party fraud.

Fraud 52

Fraud Analysis United States Risk Management 52

PYMNTS

OCTOBER 4, 2019

As reported, Global Payments is the third-largest merchant acquirer in the United States, while TSYS is the third-largest card processor in the country. Such reviews will also often touch upon their credit card operating models. Both differ in terms of assumed risk and FI control over their card programs.

Payments 176

Payments Cards Trends Fintech 176

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

PYMNTS

DECEMBER 12, 2017

It will also help reduce merchant operating expenses tied to retaining customer signatures. Our fraud capabilities have advanced so that signatures are no longer necessary to fight fraud. “Our Our fraud capabilities have advanced so that signatures are no longer necessary to fight fraud.

United States 119

United States Fraud Policies Cards 119

PYMNTS

FEBRUARY 14, 2019

14), CNBC reported that JPMorgan Chase will be rolling out the first cryptocurrency on offer from a major bank based in the United States. The embrace of crypto may be a bit of a surprise for those watching JPMorgan, which last year, along with some peers, banned credit card purchases of bitcoin, the marquee name of cryptocurrencies.

cryptocurrency 140

cryptocurrency blockchain Bitcoin United States 140

PYMNTS

JUNE 30, 2017

FIS, the financial services technology, and Cardtronics, the ATM owner/operator, announced Thursday (June 29) plans to integrate FIS Cardless Cash access across Cardtronics’ ATM fleet in the United States. With the technology, consumers can access their funds and authorize how much to withdraw without needing a physical card.

ATM 117

ATM Technology United States Security 117

PYMNTS

MAY 10, 2018

After nearly three years, the transition to EMV in the United States still has its challenges. When the chip technology was mandated for the United States,” Riley said, “it really put a huge damper on the sales and integration of integrated cash registers that we had been familiar with for the last couple decades.”. “So,

National 130

National System United States Fraud 130

PYMNTS

AUGUST 30, 2019

Learn about new approaches to fighting fraud, debit cards for kids, the world that Netflix created and is now in danger of losing, and other topics. Visa: New Cyber Threats Require New Fraud Tools. The phenomenon of payments fraud is not a modern one — far from it. Debit Cards For Kids — It’s A Thing.

Strategy 100

Strategy Fraud social media United States 100

PYMNTS

JUNE 14, 2019

Coverage includes Visa’s new B2B push, new trackers and research on fraud and digital ID, Uber financial services and Mastercard’s biometric vision. Stripe has announced that Stripe Terminal , a set of SDKs, APIs, and pre-certified card readers that lets users accept in-person payments, is now available all over the United States.

San Francisco 100

San Francisco Fraud United States Google 100

PYMNTS

JUNE 14, 2019

Coverage includes Visa’s new B2B push, new trackers and research on fraud and digital ID, Uber financial services and Mastercard’s biometric vision. Stripe has announced that Stripe Terminal , a set of SDKs, APIs, and pre-certified card readers that lets users accept in-person payments, is now available all over the United States.

San Francisco 100

San Francisco Fraud United States Google 100

PYMNTS

FEBRUARY 27, 2020

The United States federal government issues Social Security benefits to recipients’ reloadable debit cards, for example, thus giving unbanked residents a faster, more secure alternative to receiving payments via paper checks. SMBs in the United Kingdom are also seeking easier ways to accept payments.

Cards 142

Cards United States Security Payments 142

PYMNTS

MAY 29, 2018

Companies based in the United States that contend the directive would be costly, were they to comply — costly to the tune of millions of dollars. The newswire stated the mandate in India may have a ripple effect and may push the needle toward a similar walling in of data. The other card peers declined comment.

Data 101

Data United States Compliance Cards 101

PYMNTS

SEPTEMBER 9, 2019

Hurricane Dorian may be officially over, but for those in the Southeastern United States and the Bahamas, the rebuild is just getting started. Checks also come with their own fraud and security problems, particularly in chaotic situations when it is easier than usual for the wrong person to intercept and misuse a payment.

Payments 171

Payments Industry Cards United States 171

PYMNTS

MARCH 15, 2017

The new PrestoPrime EMV Terminal is the successor to E la Carte’s current Presto System, which is operational every day in more than 1,800 restaurants across the United States and accepts contactless payments from Apple Pay , Android Pay and Samsung Pay. It also acts as a QR code reader and camera.

Apple 108

Apple Payments United States Samsung 108

PYMNTS

AUGUST 1, 2018

Three people associated with the hacking group FIN7 — also known as Carbanak — were arrested in Europe and are facing charges in the United States. companies, in which they stole customer payment card data and other information, causing tens of millions of dollars in losses, according to the filing. Hladyr is already in U.S.

Groups 101

Groups United States ATM Fraud 101

PYMNTS

MARCH 15, 2019

In fact, according to new PYMNTS research, digital services are expanding in the United States and in markets around the world. He provided this statistic, in considering the payment challenges of all those rising areas of commerce: Among one-time, card present transactions, 90 percent or more are typically approved on the first try.

Retail 146

Retail Payments Cards United States 146

PYMNTS

SEPTEMBER 17, 2018

Mobile means one can do just about anything by using their device: order food, bank online, read the news … even commit payments fraud, sometimes from the unlikeliest of places. He and an accomplice operated from Nigeria, targeting the U.S., New Zealand and a number of other countries.

Idaho 153

Idaho Missouri Cyber Security Fraud 153

PYMNTS

AUGUST 25, 2019

“It means that we never store any payment card or other sensitive client financial data on our servers and it has not been accessed or compromised,” the company said in its blog. The warning comes as banks have been enlisting the aid of tech giants like Microsoft and Amazon, while bringing operations and data to the cloud.

Data 110

Data United States Analytics System 110

PYMNTS

MAY 28, 2019

million buyers who operate in industries such as website development, logo design and blog writing. The company integrated GO-PAY into the GO-JEK app, which lets customers store money on their mobile phones, much like a digital debit card. billion – of funds were lost to card fraud in 2018, up from $1.4 billion in 2017.

Apple 159

Apple Mobile Fraud Branding 159