PYMNTS

MARCH 1, 2020

Small- to medium-sized businesses (SMBs) were duped by salespeople from American Express (AmEx) who reportedly misrepresented card rewards and fees in an effort to close more approvals, according to a report from The Wall Street Journal (WSJ) Sunday (March 1). Customers could also use their Costco-branded cards at other merchants.

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Banking Exchange

NOVEMBER 7, 2022

Report by Oliver Wyman details how banks can deal a ‘body blow’ to online fraud Risk Management Technology Feature3 Feature Cyberfraud/ID Theft Security Mobile Online Cards Digital.

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Risk Management Fraud Online Mobile 78

CFPB Monitor

SEPTEMBER 9, 2019

The CFPB’s fourth biennial report on the credit card market was issued at the end of August. The Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act) requires the CFPB to perform periodic market reviews.

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Cards Report Marketing Leadership 60

PYMNTS

JANUARY 10, 2018

Oversight Systems has updated its Insights On Demand software-as-a-service (SaaS) solutions to provide managers with quicker ways to identify expense report fraud. businesses lose $1 billion every year due to employee expense fraud. In an announcement on Tuesday (Jan.

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PYMNTS

MAY 27, 2020

Criminals making such attacks hope that FIs will fail to realize that contact center staff reports of suspicious callers should prompt closer monitoring of other channels, such as online and mobile banking. Around The FI Fraud Decisioning World. Cross-channel fraud is a major threat, and FIs need to quickly detect if it is occurring.

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PYMNTS

MAY 4, 2020

Advances in technology are making consumer transactions seemingly more secure, but cybercriminals are still finding sophisticated ways to beat systems and commit financial fraud. A 2018 study on payment fraud mitigation reported that 75 percent of financial institutions (FIs) experienced fraud losses.

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FICO

MARCH 5, 2021

Also managing radically different customer behavior and suddenly having a workforce that was predominately working from home. Look no further than the recently published Chartis Financial Crime Risk Management Systems: Enterprise Fraud Market Update and Vendor Landscape , 2021, where FICO was named as the top enterprise fraud Category Leader.

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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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PYMNTS

MARCH 10, 2017

Earlier this year, the Treasury Inspector General for Tax Administration reported that there was a reduction in the number of fraudulent tax returns identified between 2013 and 2015. What’s Next In Tax Fraud. Cybercriminals aren’t always going to go after credit card information, because they don’t have to. But that’s not all.

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Taxes Fraud Risk Management Data 144

PYMNTS

APRIL 20, 2017

Payments and risk management solutions provider Verifi, which specializes in serving CNP merchants, just recently announced the launch of a new platform that aims to improve efficiency and cut down on unnecessary chargebacks and fraudulent claims.

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Fraud Risk Management Customer Experience Management 108

FICO

MARCH 30, 2023

I will sheepishly admit that since post-COVID travel has picked up again, I’ve found myself traveling with physical card or two crammed into my minimalistic ID-holder, just for rare cases where digital won’t work. Both from a cash and a fraud perspective, my curiosity was piqued, and I fell down the rabbit hole to learn more.

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FICO

JANUARY 12, 2022

The changing global regulatory landscape and ever-shifting fraud vectors are just two of the biggest challenges facing financial institutions. I recently sat down with Sidhartha Dash, Research Director at Chartis Research, for a conversation about the technology and trends in enterprise fraud management.

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Fraud Technology Management Trends 52

PYMNTS

DECEMBER 30, 2016

Bank heists and data breaches saw no shortage in 2016, and corporates large and small could no longer avoid the risk of a cyberattack. Seventy-three percent of organizations experienced attempted and/or actual payments fraud in the past year.”. What technologies are emerging to combat threats in B2B payments? “As

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Fraud Security Survey Technology 145

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

OCTOBER 25, 2017

25), TSYS reported earnings results that showed organic revenue growth across its payments processing and card segments. During the call, Troy Woods stated that key technology initiatives in the issuer segment included technology tied to fraud and risk management. On Wednesday (Oct. TSYS earnings came in at $0.88

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Cards Fraud Risk Management Conference 137

CFPB Monitor

NOVEMBER 22, 2022

The Treasury Department has released a report entitled “ Assessing the Impact of New Entrant Non-bank Firms on Competition in Consumer Finance Markets.” The report was issued in response to President Biden’s July 2021 Executive Order on promoting competition.

Fintech 78

Fintech Report Data Lending 78

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

FICO

DECEMBER 4, 2018

I’m excited to announce that FICO has been named as a category leader in the Chartis Financial Crime Risk Management Systems for Enterprise Fraud report. The Chartis report Vendor Analysis: FICO (Financial Crime Risk Management Systems: Enterprise Fraud; Market Update 2018) provides further analysis of FICO’s rating.

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Fraud Risk Management Analytics Analysis 45

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!

Fraud 70

Fraud Training Cards Data 70

Cisco

JUNE 7, 2019

After decades of battling credit card fraud, retail banks face a new challenge: fraudulent account takeover. The rise in high-impact fraud. The Javelin 2019 Identity Fraud Report notes that, “While existing card fraud losses dropped from $8.1 Cyber Risk management is not just technology.

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Fraud Retail San Diego Cyber Security 63

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. Here’s an excerpt of what Adam reported: 1. Synthetic Identities and Application Fraud. Innovative Customer Communications for Fraud.

Fraud 52

Fraud Analytics Trends Innovation 52

South State Correspondent

OCTOBER 26, 2023

As can be seen, the conference largely revolved around payments, artificial intelligence, fintech partnerships/management, regulation, and fraud/identity in its various forms. Fraud & Identity: By far, the largest number of vendors and conversations were over fraud and identity.

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Conference Las Vegas Fraud Case Study 221

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

FICO

SEPTEMBER 20, 2022

Fighting Fraud with Responsible AI: My Talk with Dr. Scott Zoldi. FICO fraud expert TJ Horan talks fraud management and responsible AI with FICO's Chief Analytics Officer, Dr. Scott Zoldi. As for me, I’m a software guy and payments professional doing my best to roll with the changes in an ever-shifting fraud landscape.

Fraud 52

Fraud Analytics Strategy System 52

FICO

JUNE 23, 2022

The Role of Data in Managing Fraud and Financial Crime Today. Here are the highlights from the fraud management data discussion I had at FICO World 2022 with Julie Conroy, Head of Risk Insights and Advisory at Aite-Novarica Group. How Did the Pandemic Change Fraud? Tue, 07/02/2019 - 02:45. by TJ Horan.

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Fraud Management Data Compliance 52

PYMNTS

SEPTEMBER 26, 2016

That’s according to Capgemini and BNP Paribas, which recently released new research through the 2016 World Payments Report (WPR). Paris-headquarterd Capgemini, a consulting and technology firm, has headlined the report for the past 12 years. Cards still remain the fastest-growing digital payment method since 2010, holding at 11.8

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Report Payments blockchain Security 100

Cisco

JUNE 7, 2019

After decades of battling credit card fraud, retail banks face a new challenge: fraudulent account takeover. The rise in high-impact fraud. The Javelin 2019 Identity Fraud Report notes that, “While existing card fraud losses dropped from $8.1 Cyber Risk management is not just technology.

Fraud 48

Fraud Retail San Diego Cyber Security 48

PYMNTS

DECEMBER 15, 2017

Credit card services provider TSYS announced Friday that it has extended its existing agreement with Capital One Financial Corp. Under the terms of that pact, TSYS will continue to provide processing services for Capital One’s North American roster of accounts, a list that spans both consumer and commercial credit card accounts.

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Capital Cards Risk Management America 110

Independent Banker

MAY 31, 2022

Fraud and cyber attacks are on the rise, and at great expense to the industry. Here are some ideas for strengthening fraud defenses. Fraud and cybercrimes continue to increase, causing challenges for community banks. Fraud-fighting recommendations. Illustration by Cnythzl/iStock. By William Atkinson.

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Community Bank Community Fraud Texas 134

PYMNTS

JANUARY 8, 2020

In today’s top news, CitiGroup named David Chubak to head its retail banking division, lawmakers in New York proposed a public eBanking system similar to Venmo and Goldman Sachs created a new division in its reporting process to highlight its consumer focus. Goldman’s Reporting Revamp Spotlights Its Consumer Focus.

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System Retail New York Payments 131

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. Debit card interchange fees and routing. The Federal Reserve Board finalized updates to the board’s rule for debit card transactions. Cyber reporting. Climate-related risk. Peer-to-peer fraud.

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PYMNTS

NOVEMBER 19, 2020

The partnership supports Payment Canada's need for RTR to enable ISO 20022 messaging standards and remain in compliance with the Bank of Canada 's risk management standards for payment systems, an announcement revealed. According to the NPP's latest Roadmap report , businesses are a key driver of adoption of the payment method.

blockchain 260

blockchain Payments Fraud Management 260

FICO

AUGUST 16, 2019

First-party fraud refers to an applicant or customer’s intention to commit fraud, whether through use of a true, manipulated or synthetic identity. It’s difficult to define the problem and many banking professionals debate the merits of who “owns” the first-party fraud problem — the credit risk group or the fraud group.

Fraud 40

Fraud Analytics Groups Management 40

Abrigo

JANUARY 22, 2024

6 Steps t o mitigate fraud risk tied to new products Your AML and fraud teams' input is key when it comes to offering new bank products. You might also like this infographic, "Beyond immediate fraud losses: How the costs and impacts of fraud snowball." download NOW Takeaway 1 Fraud losses totaled $485.6

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Fraud Training Risk Management Software 221

PYMNTS

OCTOBER 5, 2018

“Payment processing has been among the chief dampeners of performance in New Jersey’s regulated online gambling market,” observed Legal Sports Report. But things are changing in that state, the report said — and had been before that Supreme Court decision from earlier this year. Card Decline Rates. “At More Payments Needed.

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New Jersey Payments Online Cards 148

PYMNTS

JANUARY 30, 2017

In a press release, the payment processing company said McHugh will report directly to Pam Joseph, president and chief operating officer of the company. “We McHugh also spent 10 years with Citigroup covering Latin America, including management roles with its credit card division in Brazil. TSYS announced Friday (Jan.

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Leadership Risk Management Cards America 100

FICO

JUNE 15, 2023

Gone are the days of reaching into my pocket for a wallet , counting out bills or wiggling a credit card free or (if you can even remember these days) finding a checkbook and filling out a paper check. Turns out that a lot of individuals are conned, since Americans reported a whopping $3.8 billion reported in 2021.

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Fraud South Carolina Survey Management 52