PYMNTS

AUGUST 24, 2020

In a case that highlights how anybody — truly, anybody — can be a victim of invoice fraud, federal officials have reportedly charged two brothers in New York State for an alleged $19 million scam targeting Amazon. Fitzhugh warned, "Invoice fraud is not a victimless crime. Canada and the world over.

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Fraud New York United States Security 298

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. ” .

Fraud 116

Fraud Cards United States Online 116

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

Fraud 184

Fraud Payments Cards United States 184

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

OCTOBER 22, 2020

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. s struggles toward universal adoption in the European Union is reminiscent of EMV chip cards’ rise — a similar journey that aimed to solve a different fraud problem.

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Fraud Online Security Cards 221

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.

Fraud 284

Fraud Study United States Training 284

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.,

Fraud 109

Fraud Cards Taxes Payments 109

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. Around The Next-Gen Debit World.

Fraud 155

Fraud Tools Mobile North Carolina 155

Abrigo

AUGUST 19, 2020

Key Takeaways BSA officers need to stay aware of emerging fraud trends that are a result of the pandemic. Consider a risk-based lookback for your PPP portfolio to fight fraud. COVID-19-related fraud schemes are escalating at an alarming rate. How can your transaction monitoring system detect trending COVID-19 related fraud?

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Fraud System Trends Software 195

Abrigo

AUGUST 19, 2020

Key Takeaways COVID-19-related fraud are not new typologies; they just have a new spin. Adjusting your velocity scenarios can help detect money mule scams and check fraud. . COVID-19-related fraud schemes are escalating at an alarming rate. How can your transaction monitoring system detect trending COVID-19 related fraud?

Fraud 195

Fraud System Trends Software 195

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

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.

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Fraud United States Regional Cards 116

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.

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Fraud Online ATM United States 158

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.

Fraud 142

Fraud United States New York Maine 142

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

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

Gonzobanker

AUGUST 3, 2023

The time has come for some truth on the world of payment card flips. disrupted banks’ income on debit cards. had in 2011, they’re likely to see an 18% to 25% volume shift from signature to PIN card transactions by the end of 2025. And the threat of disruption on credit cards looms large.

Cards 145

Cards Payments Branding ATM 145

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

APRIL 10, 2018

With fraud on the rise, credit card networks have realized that customer signatures are simply not a reliable way to authenticate someone’s identity — and some of the country’s largest retailers agree. Each card network is setting its own set of rules regarding signatures. The plan is to soon get rid of them completely.

Retail 133

Retail Cards United States New York 133

PYMNTS

OCTOBER 7, 2020

In today’s top payments news around the world, Razer Fintech and Visa have unveiled the Razer Card prepaid card, while SafetyPay has joined forces with LATAM’s Rappi. Razer Fintech, Visa Pitch New Prepaid Card to Young Adults in Singapore. Digital Payment Firm SafetyPay Teams With LATAM's Rappi. through March 2024.

Puerto Rico 141

Puerto Rico Cards Fintech Payments 141

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

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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Fraud Strategy US United States 129

PYMNTS

OCTOBER 20, 2020

This shift in buying behavior is likely here to stay, too, leading more customers to use card-based payments to complete their purchases when shopping online. This is the focus of Understanding Frictions In Credit Card Transactions: How Transaction Disputes And Declines Impact Merchants’ Reputations, a PYMNTS and PAAY collaboration.

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Survey Data United States Cards 214

Abrigo

SEPTEMBER 20, 2023

Despite their size, this Miami credit union still took on giant risks that, according to FinCEN, exposed the United States financial system to significant opportunities for money laundering and terrorist financing. With only $4 million in assets and five employees, this fine was detrimental to the viability of the small credit union.

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Compliance Regulation Miami Fraud 150

PYMNTS

JANUARY 30, 2020

Widely publicized data breaches and hacks have made today’s consumers especially concerned about fraud. Cautious shoppers may find comfort in debit, with fraud losses associated with the payment method declining over the past several years. Card fraud is an ever-present threat. Around The Next-Gen Debit World.

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Security Fraud ATM Cards 182

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? The payment card has “a long life ahead of it,” he told Karen Webster. Even if you consider technologies like mobile, you can see that the consumer is still paying with payment cards.”.

Cards 110

Cards Payments United States Maine 110

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

OCTOBER 7, 2016

A judge is allowing small businesses to sue the major credit card companies for forcing them to adopt chip readers at the checkout counter — a case that could become a multi-billion-dollar class action. The lawsuit takes aim at the nationwide upgrade to chip-based credit cards, an awkward rollout that’s been annoying for stores and shoppers.

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Cards California US United States 173

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

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

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.

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Fraud Report Nebraska United States 130

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.

Cards 100

Cards United States Payments Data 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.

Cards 187

Cards Security United States Technology 187

Abrigo

JANUARY 3, 2024

But the related changes will shape domestic financial practices and resonate globally, reflecting the United States' commitment to combat money laundering and enhance transparency. Stay up to date on AML/CFT and fraud trends with more professional development. We can help you navigate changing AML/CFT and fraud regulations.

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Fraud Regulation Report Compliance 221

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

PYMNTS

DECEMBER 23, 2016

Credit and debit card payments are continuing to increase in terms of usage, with the Federal Reserve finding credit and debit card payments accounted for more than two-thirds of all noncash payments in the U.S. Among the key findings of the report was an increase of card payments to 19.9 from 2012 to 2015. What’s more, U.S.

Cards 100

Cards Payments US United States 100

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.

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Fraud United States System Operations 158