PYMNTS

OCTOBER 22, 2020

As has historically been the case with commerce security upgrades that roll in by government mandate, the path to European Union adoption of 3D Secure 2.0 That] keeps them from getting in trouble with the card brands, and obviously avoids the significant costs that come along with fighting, investigating and resolving chargebacks.

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PYMNTS

NOVEMBER 8, 2018

PNC Bank’s Treasury Management unit is testing a new solution to address card-not-present (CNP) fraud for commercial clients. 7) that it is piloting Dynamic CVV2 technology for commercial card customers. The company said in a press release Wednesday (Nov. “Almost all U.S. “Almost all U.S. ” .

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Fraud Cards United States Online 116

Abrigo

MARCH 4, 2022

Synthetic ID fraud is growing quickly and hurts FIs and customers Knowing the schemes associated with synthetic identity fraud and how criminals avoid detection can help minimize losses. Takeaway 1 Synthetic identity fraud is a growing form of identity theft in which an individual is impersonated by using stolen information.

Fraud 195

Fraud Cards Software Trends 195

PYMNTS

APRIL 27, 2020

As consumers shop amid ongoing public health restrictions, they almost invariably reach for their credit cards — whether the physical varieties in their wallets or the digital versions stored on their browsers and mobile devices. More than ever, credit cards are becoming the coin of the realm in the global connected economy.

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Cards Fintech United States Case Study 226

PYMNTS

JANUARY 19, 2021

Studies showed that many consumers in the United States have begun tapping their debit cards more often for payments, for example, with one report finding that debit use rose about 6 percent year over year. Another study indicated that debit-related fraud is on the rise across the U.S. The report noted that U.S.

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Fraud Tools Mobile North Carolina 155

PYMNTS

OCTOBER 17, 2018

According to data from the Federal Reserve Payments study, it found the value of noncash fraud jumped 37 percent to $8.3 The Federal Reserve said in a press release that the fraud data was collected as part of surveys of depository institutions in 2012 and 2015 and payment card networks in 2015 and 2016. billion in 2015 from $6.1

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Fraud Payments Cards United States 184

PYMNTS

JULY 15, 2019

In Australia, a new report shows just how widespread internal fraud in the Commonwealth, aimed at government agencies, has become. This past week it was reported that, per an investigation by the Australian Institute of Criminology, such fraud amounted to $42 million over the past year. Grayson Jr., owner of Zealcon Corp.,

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Fraud Cards Taxes Payments 109

Abrigo

DECEMBER 10, 2019

Elder financial exploitation and elder fraud are rising at an alarming rate as they continue to be serious crimes in the United States. An increase in financial crime and fraud against the elderly is expected to continue to climb as the baby boom population (those born before 1964) age. billion annually.

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Fraud Study United States Training 284

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. The Security Angle. As has been reported, the platform can help issuers manage, or restrict, transactions across groups of compromised cards.

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Cards Fraud United States Payments 154

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.

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PYMNTS

AUGUST 16, 2019

Capital One employees raised red flags over security risks before the company suffered a massive data breach. Seattle-based Thompson was charged with one count of computer fraud and abuse following her arrest on July 30.

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Security Seattle Capital United States 168

PYMNTS

SEPTEMBER 18, 2017

How secure do you feel when it comes to payments? Consider a survey commissioned by payment, telecom and financial data solutions provider Transaction Network Services (TNS), which found that 85 percent of adults across the United States, the United Kingdom and Australia believe fraud attempts on debit and credit cards are on the upswing.

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Security Payments Survey Cards 152

PYMNTS

SEPTEMBER 18, 2017

According to a recent survey by Transaction Network Services (TNS), 85 percent of adults in the United States, United Kingdom and Australia believe fraud attempts on debit and credit cards are on the upswing. 70 percent | Percentage of respondents over age 45 who reported concerns about data security.

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Survey Security Data United States 117

PYMNTS

JANUARY 26, 2017

After nearly four years of evading authorities, a fugitive implicated in one of the Justice Department’s largest credit card fraud schemes gave himself up. The group allegedly cost banks and other businesses more than $200 million in fraud losses. He is scheduled to appear before a Newark court to face charges next week.

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Fraud Cards New Jersey United States 100

PYMNTS

NOVEMBER 16, 2020

Leslie Ragan manages transaction fraud prevention for Elan Financial Services , a unit of U.S. Bank , one of the largest commercial banks in the United States. Effective cyber-fraud strategies must be comprehensive, nimble and intelligence-driven,” she said. Bancorp, which is the parent company of U.S.

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Fraud Strategy social media United States 295

PYMNTS

JULY 24, 2019

In the latest Digital Fraud Tracker , PYMNTS examines how fraudsters are utilizing mobile and app-based channels for fraud attacks, as well as why fraudsters are still relying on phishing as a major fraud strategy even as they increase their use of new technologies and techniques. Around the Digital Fraud World.

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PYMNTS

JANUARY 4, 2019

It’s no surprise that payments fraud is on the rise. Juniper Research , for example, has estimated that retailers will lose as much as $130 billion in card-not-present (CNP) fraud through 2023 — as tech gets more complex and transactions are done across borders. Then again, the fraud may be a bit more low-tech and on-site.

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Fraud North Carolina Payments Minneapolis 158

PYMNTS

JANUARY 15, 2021

The use of QR codes is growing more popular in the United States, enabling consumers to instantly access information and easily pay on their smartphones without going through a URL entry. Developments From Around The World Of QR Codes. Developments From Around The World Of QR Codes. QR codes have been slower to catch on in the U.S.

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Retail Security Payments United States 207

PYMNTS

SEPTEMBER 4, 2018

What does the future hold for the plastic payment card? Or will cards with cutting-edge technology win more loyalty from shoppers? Such questions are addressed in a new PYMNTS story that features an interview with Sebastien Clamagirand, general manager of secure payment and identity at NXP Semiconductors.

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Cards Payments United States Maine 110

PYMNTS

JULY 29, 2019

Capital One announced that a hacker had accessed about 100 million credit card applications, as well as thousands of Social Security and bank account numbers. Thompson, on a charge of computer fraud and abuse. The Washington Post reported that the FBI has arrested a Seattle area woman, Paige A.

Cards 116

Cards social media Capital Seattle 116

PYMNTS

JUNE 13, 2019

Experiencing such gains comes with risks, however, as digital IDs have presented new and underexplored avenues for fraud. billion digital records in the United States were compromised during the first half of 2018 – 291 records every second – with only six social media breaches accounting for more than half of all at-risk data.

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Security blockchain San Francisco United States 129

PYMNTS

NOVEMBER 2, 2018

1) that a probe by international auditors is underway, examining a fraud that could be $200 million in scope at Aegean Marine Petroleum Network , tied to shell companies that ostensibly did business with the shipping fuel firm. Of that number, 59 were tied to gift cards, memberships, IT equipment and furniture. A Bit Of Victory.

Fraud 168

Fraud Company Massachusetts United States 168

PYMNTS

NOVEMBER 7, 2019

Capital One ’s chief information security officer (CISO), Michael Johnson, is being transferred to a new position following the bank’s colossal cyberattack in July, The Wall Street Journal (WSJ) reported Thursday (Nov. Capital One employees raised red flags over security risks before the company suffered a massive data breach.

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Capital Security Data Seattle 100

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.

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Cards Security United States Technology 187

PYMNTS

MARCH 10, 2020

A recent study found 32 percent of security incidents in 2019 involved phishing and 29 percent involved stolen credentials, both of which would have been much more difficult had secure digital ID systems been in place. Businesses and organizations are already taking steps to close this security gap. billion by 2025, with $1.6

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Payments Louisiana Colorado Security 272

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. Stronger security strategies and solutions could help turn the tide and boost adoption. Read more in the Tracker.

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Fraud Security Payments United States 231

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.

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Cards Fraud Regional Training 109

Abrigo

APRIL 2, 2020

Key Takeaways Elderly persons are more susceptible to fraud during crises like the coronavirus pandemic. As the coronavirus pandemic takes a powerful hold on the United States, illicit activity such as cybercrime, check fraud, and other scams are rapidly increasing and is expected to continue throughout this difficult period.

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Fraud Resources Software Training 335

PYMNTS

MAY 22, 2018

Visa announced that the growing number of chip cards and chip-enabled merchants has helped bring counterfeit fraud in the U.S. payments industry to begin the shift to EMV chip cards in 2011,” the company wrote in a press release. payment volume in March was on EMV cards. down by 76 percent. Visa set the path for the U.S.

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Fraud Cards United States Regional 133

Abrigo

JANUARY 3, 2024

FIs must certify that the BOI will be held securely and that the FI has received approval from the reporting entity to access their ownership details. But the related changes will shape domestic financial practices and resonate globally, reflecting the United States' commitment to combat money laundering and enhance transparency.

Fraud 221

Fraud Regulation Report Compliance 221

PYMNTS

JUNE 26, 2017

While data security these days is at a much higher scrutiny than possibly any time in the past, thanks to connected devices, some companies are unlocking their secrets. All reviews are being conducted by Russia’s Federal Security Service, which the U.S. claims by the Russia Federal Security Service.

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Data United States Fraud Cards 100

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.

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Fraud San Francisco social media Tools 123

PYMNTS

SEPTEMBER 28, 2016

Can a smartphone keep you and your money safe from fraud? The information stored inside your phone could soon be used to authenticate you to banks, credit card companies and other financial service providers. The rise of digital and mobile technology has made preventing fraud much more challenging for financial service providers.

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Security Mobile Fraud United States 100

PYMNTS

FEBRUARY 6, 2018

Perhaps the last and best hope in the battle against ID fraud – the kind that brings ruin to credit reports and billions of dollars in losses to card companies and merchants. This is the percentage of new account fraud victims who discover they are, well, victims when they are contacted by a debt collector. Digital DNA.

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Fraud Data Security Cards 120

PYMNTS

NOVEMBER 6, 2017

The Social Security number (SSN) was never meant to get this much attention. In a wide-ranging discussion, Socure CEO Sunil Madhu and PYMNTS’ Karen Webster discussed the brave new world of identity security and verification, and what those terms mean when it should be assumed that all of your data has been compromised.

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Security Data Fraud Regulation 109

PYMNTS

FEBRUARY 6, 2017

In one of the latest payment card data breaches reported affecting the hotel industry, InterContinental Hotels Group said that 12 hotels in the United States were compromised. Those cards had been used at food establishments, including restaurants and bars, and did not include cards used at front desks.

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Cards United States Payments Data 100

PYMNTS

JULY 30, 2019

Seattle-based Thompson was charged with one count of computer fraud and abuse following her arrest on Monday (July 30). The breach impacts about 100 million individuals in the United States and around 6 million in Canada. Thompson formerly worked for Amazon Web Services, which hosted the Capital One database that was breached.

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Capital Seattle United States New York 219