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Bank wire fraud – How social engineering and technology perpetrate fraud losses

Abrigo

Takeaway 1 Bank w ire transfer fraud is increasing due to technological advances today. Takeaway 3 Education and technology tools are our best defense against b ank wire transfer fraud in our institutions. While wire transfers offer speed and efficiency, they have always carried inherent risks.

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Cubic Expands Contactless Payment System To Sydney Trains

PYMNTS

Cubic Corporation announced Monday (November 26) that its Cubic Transportation Systems unit and Transport for New South Wales will expand the contactless payment system to cover Sydney’s train network. The project began with a trial on the Manly ferry in 2017.

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Fight Card-Not-Present Fraud In A Card-Not-Present World

PYMNTS

In an interview with PYMNTS, Mitch Pangretic, senior vice president of strategic partnerships at Elan , said that in-person card fraud may have decreased thanks to EMV chips and multi-factor authentication, but card-not-present (CNP) scams are increasingly gaining traction. Interacting With The Cardmember.

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Hudson To Add Amazon’s Just Walk Out Technology To Its Popular Airport Convenience Stores

PYMNTS

The Hudson Group plans to add Amazon’s Just Walk Out technology to some of the popular convenience stores the chain operates at more than 1,000 North American airports, train stations and other landmarks and tourist destinations. . Checkout-Less Retail Is Becoming A Reality .

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Safeguarding new banking products from fraud

Abrigo

Takeaway 2 Examiners' focus is on risk management related to products and services , especially those involving complex technologies like AI. These systems utilize cutting-edge technology to analyze patterns, anomalies, and unusual behavior. S tay one step ahead of fraudsters by investing in a fraud detection solution.

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Virtual Cards Streamline, Simplify B2B Healthcare Payments

PYMNTS

Recently released survey results from the Institute of Financial Operations & Leadership (IFOL) — an organization that provides training and certification in areas like AP and accounts receivable (AR) — show a sharp rise in the portion of companies that automated at least some of their AP practices between Q1 2020 and Q3 2020.

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Razer Fintech, Visa Pitch New Prepaid Card To Young Adults In Singapore

PYMNTS

Razer Fintech and Visa have unveiled a new prepaid card, dubbed the Razer Card, now in its test phase. The Singapore-based financial technology company said the move is part of its goal of establishing “the world’s first global youth bank.”. Razer Pay users can “opt-in for a free virtual card” as well.

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