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

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 found that 55 percent of U.S. Another study found that 55 percent of U.S. The report noted that U.S.

Fraud 155

Fraud Tools Mobile North Carolina 155

PYMNTS

SEPTEMBER 22, 2020

One recent study estimated that roughly 44 million Americans would tap food delivery apps by the end of this year, up from 38 million in 2019, and another survey predicted that the number of smartphone delivery app users will climb 25.2 It also analyzes how focusing on the customer experience can help prevent such fraud in the first place.

Fraud 255

Fraud Mobile Tools Study 255

Abrigo

JUNE 13, 2022

Elder fraud prevention and education Learn strategies for recognizing and reporting elder fraud and exploitation. . Takeaway 1 Elder abuse, exploitation and fraud continue to rise as the baby boomer generation ages. Takeaway 3 Education and reporting are key to preventing this type of fraud, so know your state's policies. .

Fraud 195

Fraud Training United States Survey 195

Abrigo

NOVEMBER 7, 2022

Elder fraud prevention and education Learn strategies for recognizing and reporting elder fraud and exploitation. . Takeaway 1 Elder abuse, exploitation, and fraud are rising in the veteran population and can devastate older Americans. A growing target for elder fraud and exploitation. According to the U.S.

Fraud 195

Fraud Resources Community Training 195

PYMNTS

DECEMBER 16, 2020

Mobile ordering apps are largely responsible for keeping the industry above water, but fraud still plagues the sector. And while promising news regarding COVID-19 vaccines may have put the end of the pandemic in sight, the restaurant industry’s growing fraud concerns will not cease as abruptly.

Fraud 310

Fraud social media Mobile Trends 310

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 2012.

Fraud 184

Fraud Payments Cards United States 184

PYMNTS

JANUARY 21, 2021

Merchants, card issuers and banks are no strangers to facing off against evolving fraud threats. Debit-related fraud is a particular concern for businesses and banks as failing to thwart such schemes could have significant and costly consequences. Debit And The Fraud Catch .

Fraud 148

Fraud Strategy Study Cards 148

Abrigo

DECEMBER 10, 2019

ABA study shows banks are reporting more cases of EFE. Elder financial exploitation and elder fraud are rising at an alarming rate as they continue to be serious crimes in the United States. What the ABA study determined is that financial institutions of all sizes continue to focus on elder fraud prevention. We can help.

Fraud 284

Fraud Study United States Training 284

PYMNTS

JULY 1, 2020

As a one-size-fits-all solution does not exist for the increasing problem of synthetic identity fraud, The Federal Reserve reports that experts suggest a “comprehensive approach” for the challenge. As it stands, EMV cards and other anti-fraud procedures have had a large impact on fraud behavior. Payment System” report.

Fraud 190

Fraud Report Analysis Study 190

PYMNTS

JULY 22, 2019

RHB in Malaysia is introducing fraud protection cards with mini screens on the back that auto-generate new card verification value (CVV) numbers, according to reports. An algorithm will generate the new number for the card. This card provides a complete end-to-end solution for RHB as an issuer and for our cardholders.” .

Fraud 108

Fraud Cards Security System 108

PYMNTS

MARCH 27, 2020

The financial industry is particularly vulnerable to digital fraud. Application fraud, which sees cybercriminals submitting financial product applications to banks with no intention of paying them back, is among the most popular techniques. Defining Application Fraud.

Fraud 208

Fraud Technology Knowledge Base Study 208

PYMNTS

OCTOBER 9, 2020

These wallets are connected to familiar debit or credit cards, the details of which must also be kept safe from enterprising fraudsters. It also looks at the role that debit cards are continuing to play in commerce, and why protecting these payment details is essential for retailers. Around The Next-Gen Debit World.

Fraud 188

Fraud Retail Report Online 188

PYMNTS

JANUARY 13, 2021

The prevalence of online commerce opens new doors for digital fraud, however, both from career fraudsters and opportunistic customers. percent had falsely claimed a charge on their credit card was fraudulent to score a refund. Developments F rom The World Of Digital Fraud. Developments F rom The World Of Digital Fraud.

Fraud 189

Fraud Analytics Data Retail 189

PYMNTS

JULY 14, 2020

Americans add $74 billion in avoidable costs to regular bills, the bill-paying service Doxo concluded in a new study published on Tuesday (July 14). household has $72,000 in combined home mortgage, auto loan and credit card debt. The survey results were combined with other data to produce the report’s findings. credit score.

Study 146

Study Survey Analysis Fraud 146

PYMNTS

MARCH 8, 2019

Invoice fraud, where emailed requests trick employees of various firms into sending money to scammers’ bank accounts, has been making the rounds in the United Kingdom. firms are vulnerable to that type of fraud. In one case, a scammer asked for help via text message to purchase iTunes gift cards. Department of Justice.

Fraud 149

Fraud Study San Francisco Denver 149

PYMNTS

SEPTEMBER 30, 2019

A recent study about how people respond to scammers shows that consumers are more likely to become victims on social media and online marketplaces than over the phone, The Wall Street Journal reported on Sunday (Sept. The gift cards are sold at a discount in exchange for cryptocurrency. The average loss was $600.

Study 145

Study social media Online Fraud 145

PYMNTS

FEBRUARY 27, 2020

Fraud continues to increase in many areas, despite extensive attempts to bring it to heel. Retail fraud attempts have doubled year over year, for example, while account takeover (ATO) fraud losses recently hit $14.7 billion , and phishing attacks now comprise 30 percent of all fraud attempts. billion to $7.2 million USD).

Fraud 150

Fraud Examples Online Data 150

FICO

SEPTEMBER 5, 2022

European Card Fraud in 2021: Winners, Losers and Scams. The United Kingdom and the Nordic region continue to lead Europe in terms of digital transformation and fraud loss reduction - but non-card scams are rising fast. Senior Consultant, Fraud and Financial Crime. Senior Consultant, Fraud and Financial Crime.

Fraud 52

Fraud Cards Regional Trends 52

PYMNTS

AUGUST 21, 2020

Mobile banking is under constant attack from fraudsters, however, who are targeting both customers’ funds and personal data, such as account numbers, Social Security numbers, payment card data and login credentials. ATM usage has been severely affected by the pandemic, as such machines require touching keypads, screens and card readers.

Analytics 266

Analytics Fraud ATM Report 266

Bank Innovation

MARCH 9, 2018

EXCLUSIVE—The growth of synthetic fraud, or the method by which fraudsters use a combination of real and false details to open malicious accounts, is slowing as lenders, issuers, and consumers all grow more attentive to cybersecurity methods, a study conducted by credit bureau TransUnion found.

Fraud 199

Fraud Study Online Cards 199

PYMNTS

DECEMBER 18, 2020

These growing revenue streams carry their own risks, however, not the least of which is their propensity to be targeted by fraud. The Fraud Threats Of 2020. Most customers bypass restaurants entirely when trying to perpetrate chargeback fraud , with 76 percent of cardholders going directly to their payment card issuers.

Fraud 229

Fraud Trends Security social media 229

PYMNTS

OCTOBER 1, 2020

Kount , the Boise, Idaho-based Software as a Service (SaaS) platform designed to simplify fraud detection and improve profitability, announced it has partnered with Verifi , the payment protection and management company. In June, Visa signed an acquisition agreement with Verifi.

Fraud 183

Fraud Los Angeles Idaho Risk Management 183

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. Steps Ahead of Financial Criminals.

Fraud 98

Fraud Cards Analytics Mobile 98

PYMNTS

JUNE 20, 2019

Retailers focused on combating fraud have credit cards in the cross-hairs of their efforts. But ramping up the war on card fraud can introduce a new risk to companies: false positives. This isn’t merely an issue for the B2C world, however. The False Positive Threat.

Fraud 182

Fraud Payments Cards Strategy 182

PYMNTS

DECEMBER 26, 2019

Deutsche Bank, Mastercard and IDEMIA are teaming up to introduce what they said is the first card in Spain to tap motion code technology, FinTech Futures reported on Thursday (Dec. On the back of the card, a small screen will display the CVC, also known as the dynamic security code.

Cards 131

Cards Fraud Security Study 131

PYMNTS

OCTOBER 19, 2018

Even the mightiest of tech firms are not immune to invoice fraud. Engadget reported that Jeff Tran, Microsoft ’s former director of sports marketing and alliances, was charged with five counts of wire fraud. Wire fraud has a sentence of up to 20 years’ imprisonment. Fraud On The Rise. Payments Fraud No Cakewalk.

Fraud 152

Fraud blockchain Cards Payments 152

PYMNTS

JULY 21, 2020

Compromised credit card fraud increased 212 percent year over year in 2019, while customer credential leaks increased 129 percent during the same period. Credit card fraud is just one of many techniques that fraudsters leverage to scam FIs and their customers, but it is on the rise amid the pandemic.

Fraud 167

Fraud United States Cards Industry 167

PYMNTS

NOVEMBER 4, 2019

In the company’s ongoing efforts to prevent fraud on its site, Amazon announced a new program, Intellectual Property Accelerator, last month to help sellers make sure their products won’t be copied or counterfeited. According to a new LexisNexis study , overall retail fraud attempts doubled year-over-year and tripled since 2017.

Fraud 124

Fraud Retail Online Study 124

PYMNTS

SEPTEMBER 24, 2020

Fraud Threats To Digital Banking. Another threat is identity fraud, in which bad actors will either steal an individual’s identity or forge a new one, and then use it to open new accounts or apply for fraudulent loans they have no intention of paying back. Identity fraud accounted for $16.9 Identity fraud accounted for $16.9

Video 205

Video Fraud Digital Banking System 205

PYMNTS

APRIL 5, 2019

To that end, Vocalink , a Mastercard company, released its third annual Business Fraud Report , which found that as much as 73 percent of the U.K. Additionally, 22 percent of respondents said someone has attempted to commit payments fraud against their businesses. The study found that only 32 percent of U.K.

Study 122

Study Industry Fraud Survey 122

PYMNTS

OCTOBER 12, 2020

One recent study found that new customer accounts now represent 30 percent of all transactions made online, for example, five times as many as they did prior to the crisis. Shifting Payment Behaviors And Fraud . Consumers are still shopping online more than ever seven months into the global COVID-19 pandemic.

Fraud 199

Fraud Retail Online Examples 199

PYMNTS

JULY 1, 2019

A QSR Magazine study found that 73 percent of diners have used mobile ordering, 63 percent have at least one mobile ordering app on their phones and 35 percent use mobile ordering every time they visit QSRs. The Ineffectiveness of Card Verification in the Digital Age. Chipotle denied any breach of its databases or systems.

Fraud 167

Fraud Mobile Cards social media 167

PYMNTS

JANUARY 18, 2019

New year, new reason to fear fraud — especially through digital means? A pair of studies have shown that companies are increasingly being targeted through methods both sophisticated and decidedly mundane. Among the fraudulent reporting, as gleaned by AppZen as it parsed the data from hundreds of companies?

Study 173

Study Fraud Report Resources 173

PYMNTS

DECEMBER 22, 2020

Italian consumers are embracing a new government program aimed at boosting retail sales while tamping down on tax evasion that allows buyers to receive a 10% refund on card payments made in stores. By offering the incentive, they hope to cut down on black market deals and fraud, according to The Financial Times.

Cards 188

Cards Payments Taxes Study 188

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.

Cards 226

Cards Fintech United States Case Study 226

PYMNTS

JANUARY 30, 2020

Virtual credit cards are one of the more flexible electronic payment methods available, and the world continues its steady march toward greater digital payment use. Virtual cards can improve accounts payable (AP) processes, benefiting both buyers and suppliers by streamlining day-to-day payments, and providing greater control over cash flows.

Cards 178

Cards Payments Fraud Capital 178