Abrigo

DECEMBER 27, 2022

Fraud trends for financial institutions to watch for in 2023 Financial institutions should not expect a slowdown of any of 2022’s fraud trends. Takeaway 2 A worsening economy increases pressure to commit fraud, provides opportunities to commit fraud, and can be used as an excuse by criminals to rationalize their actions.

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Abrigo

JULY 25, 2023

How offering FedNow instant payments affects fraud & AML/CFT compliance What financial crime staff can do to prepare fraud and AML functions for implementing the FedNow Service for instant payments. Would you like other articles on fraud and AML/CFT compliance in your inbox? Instant payments service What is FedNow?

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Fraud Payments Security Resources 195

PYMNTS

NOVEMBER 28, 2018

Google, the FBI and White Ops, along with a handful of cybersecurity companies, recently collaborated to shut down a digital ad fraud scam that used 1.7 According to a report in The Hacker News , the fake clicks were used to trick online advertisers for years and make tens of millions of dollars as a result.

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PYMNTS

DECEMBER 29, 2020

With digital transactions and eCommerce soaring during the pandemic, the rate of increasingly sophisticated fraud has also risen. Unlike the crypto markets, Wingert said the banking and payments industries continue to be slow to adapt to the challenges of KYC and fraud prevention. In fact, a recent GeoGuard survey found that U.S.

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PYMNTS

JUNE 19, 2018

Fraud has no choice but to roll with the punches, and the flurries are enough to daze a boxer as skilled as Ali. Fraudulent activity is 81 percent more likely to occur online than at the physical point of sale. By now, it’s widely known that chip-enabled cards have been pushing fraud to digital conduits.

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PYMNTS

AUGUST 26, 2019

22) the Justice Department unsealed an indictment —spanning 252 counts — against 80 defendants for alleged online scams that bilked firms and individuals of tens of millions of dollars. The suit alleges that in addition to binge-watching Netflix while on company time, Robinson made $12,696.65 Late this past week, on Thursday (Aug.

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PYMNTS

SEPTEMBER 8, 2020

In this week's B2B Data Digest, PYMNTS looks at some of those numbers, finding cybercriminals both within and outside of the enterprise don't discriminate across borders as attacks hit companies in New Zealand, the U.K. 1 million was stolen from the City of Industry via invoice fraud, claims officials in the California city.

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PYMNTS

DECEMBER 23, 2020

We’re all consumers of media, of content, of subscriptions — and we do it all online, which means we pay for it all online. Merchants can change on a dime, really, and go out and make an adjustment to how they're going to conduct eCommerce and accept payments either online or in the physical space," said Evans.

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PYMNTS

NOVEMBER 18, 2020

It can also serve as a powerful tool in restaurants’ fight against fraud, which is becoming an increasingly prevalent issue as bad actors target the flood of customers using digital channels during the COVID-19 pandemic. Payment protection platform Verifi has partnered with digital fraud protection firm Kount Inc.

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PYMNTS

OCTOBER 15, 2020

The world saw this during the 2008-09 financial crisis, he pointed out, when fraud attempts doubled and, in some cases, tripled. And not only do hard times stimulate fraud, but they also create financial vulnerability among consumers.

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PYMNTS

SEPTEMBER 15, 2020

In an interview with Karen Webster, Vilash Poovala , founder and CEO of FinTech Oyster , said online financial platforms, powered by open banking, can serve as alternatives for business banking in a country where business banking seems an afterthought. The world needs a FinTech operating system.”.

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PYMNTS

JULY 27, 2020

Cross-border trade and payments have gotten far easier in recent years, and that’s a beautiful thing for recovering companies seeking new territories and customers. Noting that some countries are able to operate more normally now than the U.S., The world economy won’t wait for the U.S. to recover.”.

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PYMNTS

JULY 8, 2020

“In many cases, AI is fundamental to scaling and keeping up with the pace of the network transactions that are happening,” said Sudhir Jha , a Mastercard senior vice president and head of Brighterion , an AI company that Mastercard acquired in 2017. Fighting Fraud in a Post-Pandemic World. Using AI to Optimize Internal Operations.

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PYMNTS

MAY 9, 2016

Though the industry knew it was coming, the sharp migration of fraud from in-store to online channels with the growing adoption of EMV is still enough to keep any online merchant up at night. The data show that since the October 2015 EMV liability shift, United States fraud attacks have jumped by 11 percent.

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PYMNTS

JANUARY 18, 2021

People in general are more aware of — and concerned about — fraud as we pass through a second season of COVID, and eCommerce continues to rack up impressive stats, good and bad. New threats are evolving all the time,” KP Brendel, director of marketplace operations at online thrift and consignment storefront Swap.com, told PYMNTS. “New

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Fraud Security Study Retail 144

PYMNTS

SEPTEMBER 21, 2020

Consumers are using mobile apps’ order-ahead features and loyalty perks more often during the COVID-19 pandemic, yet chargeback fraud — also known as friendly fraud — is unfortunately also rising. Mobile ordering is at the center of business operations for Blaze Pizza and many fast casual dining chains today.

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PYMNTS

JANUARY 15, 2020

Fraud detection company DataVisor, which uses artificial intelligence (AI) to help find fraud activity and correct it, has released a new anti-fraud solution called dEdge, which can detect attacks and malicious operations in real time, according to a press release. .

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PYMNTS

APRIL 14, 2017

While the fraud ecosystem continues to rapidly develop and advance, big data may prove itself to be a strong weapon in combatting fraud. With that thought in mind, DataVisor set off on a mission to utilize harness and analyze that could potentially detect fraud and protect billions of users around the world.

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PYMNTS

DECEMBER 26, 2019

Online firms and their banking partners have both the means and motives to stop fraudsters from accessing personal information, but today’s connected economy encompasses markets and customer service channels around the world. Digital fraud rose 30 percent in Q3 2019, with one out of every five new accounts revealed to be illegitimate.

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PYMNTS

JULY 5, 2020

Federal workers, through partnerships with several online retailers, will now be able to purchase equipment like desks or office supplies through an eCommerce network for the first time, The Washington Post reports. Leaders at Overstock said the new GSA initiative would help them with their retail operation.

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PYMNTS

DECEMBER 10, 2020

TSYS , a payment processing company, has suffered a ransomware attack and had some data posted online, according to a report from Krebs on Security. However, TSYS said the malware didn't jeopardize card data and that the attack had only targeted the company's administrative wing. "We This matter is immaterial to the company.”.

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PYMNTS

AUGUST 5, 2019

Fraud comes in many flavors, and a payments-related lawsuit arising from the growing business of legal, recreational marijuana is proof of that point. That new industry is growing, and new services, including online ordering and delivery, are rising to meet consumer demands for legal pot. The good news? Onboarding Stage.

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PYMNTS

AUGUST 21, 2020

This popularity is not expected to decline once the virus wanes, with the number of online and mobile banking users expected to hit at least 3.6 ATMs are common avenues for fraud, however, especially those that are running outdated software. billion by 2024. Deep Dive: Keeping Digital-First Banking Secure With AI, Biometrics.

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PYMNTS

SEPTEMBER 19, 2019

The complexity of online and mobile advertising — and the vast sums of money involved — make those areas extremely attractive for criminals. As well, successful criminals know that their targets are often complex systems — and complex systems offer many opportunities for financial fraud and massive theft. Essential Problem.

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Fraud Payments Online Mobile 132

PYMNTS

MAY 16, 2019

Death, taxes and data breaches – those are perhaps the only sure things in life, and new evidence is emerging that hackers are finding increasing profit in targeting online retailers. The news comes amid yet another online retail cyberattack, this one targeting Japan’s Fast Retailing, the company that owns the Uniqlo retail chain.

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PYMNTS

JANUARY 21, 2020

Advances in fraud decisioning have cybercrooks scrambling into the new arcana of synthetic identities and fiendish mass bot attacks, looking for any possible opening to exploit. Some industries are more prone than others, as we discovered in the latest Fraud Decisioning Playbook , a PYMNTS and Simility collaboration.

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PYMNTS

AUGUST 19, 2019

Through that ransomware they have been hijacking companies’ systems and demanding bitcoin payment in exchange for a decryption key. The threat actors realized they can amplify their impact by targeting specific companies such as managed service providers,” said Bennett. Corporate Wire Fraud. Payment terms have been higher, too.

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PYMNTS

MARCH 11, 2020

This year also kicked off the implementation of the Fifth Anti-Money Laundering Directive (5AMLD), which included among its provisions requirements that cryptocurrency companies be more vigilant in preventing financial crimes from being committed over their platforms. Taking A Local Approach To Fighting Money Laundering, Fraud Worldwide.

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PYMNTS

NOVEMBER 16, 2020

Multifactor authentication (MFA) has become commonplace for online accounts, with users confirming their identities via text messages sent to their phones. Such security methods can be critical to preventing fraud that targets mobile users, of which one of the most prevalent types is SIM swap fraud.

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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.

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Banking Exchange

FEBRUARY 26, 2020

Online payment fraud could cost companies more than $200 billion over four years, finds Juniper Research Risk Management Technology AML & Fraud Cyberfraud/ID Theft Compliance/Regulatory Operational Risk Big Data Security Online Cards BSA/AML Feature3 Feature Financial Research Payments.

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PYMNTS

MARCH 12, 2019

Mastercard announced Tuesday (March 12) that it has inked a deal to acquire Ethoca , a global provider of technology to identify and resolve fraud in digital commerce. In a press release , Mastercard said Ethoca enables merchants and card issuers to collaborate in real time to fight digital commerce fraud.

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PYMNTS

JANUARY 23, 2020

5AMLD’s impacts include strengthening anti-money laundering (AML) and counter-terrorist financing (CTF) regulations in the cryptocurrency space — something that has not pleased all the affected crypto companies. The company hopes the solution will help it more quickly investigate suspicious activity. Around The AML/KYC World.

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PYMNTS

AUGUST 22, 2019

Fraud, for instance, is an ongoing threat, with nearly three-fourths of U.S. financial institutions reporting growing losses attributed to online and mobile fraud. Quaine said the company’s systems, for instance, “are programmed to handle the payments.”

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PYMNTS

OCTOBER 28, 2019

Digital fraud prevention company Kount is rolling out a complete solution to protect companies from criminal and friendly fraud, the firm announced in a press release on Monday (Oct. Kount’s digital fraud prevention uses artificial intelligence (AI) that mimics a fraud analyst.

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Fraud Customer Experience Analytics Survey 101

Abrigo

DECEMBER 17, 2019

The expected outcome of greater inventory at a lower cost, as we have seen in prior years, is an increase in fraud activity and cyberattacks heading into the end of the calendar year. One of the most important links in the chain of e-commerce fraud is the “mule”. Learn more.

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PYMNTS

JUNE 3, 2019

In a blog post , Bill Ready, PayPal’s chief operating officer, said the new digital platform will provide what the company is calling the most comprehensive set of technology, tools, services and financing for businesses of all sizes around the world.

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