PYMNTS

JULY 10, 2019

These platforms promise fast, seamless transactions, which most deliver – but when platforms focus on reducing friction for users, it can backfire and create new vulnerabilities to fraud. An unexpected consequence of the retailer race to offer same-day and one-day delivery is increased fraud exposure. Nearly one-third (30.4

Fraud 140

Fraud Strategy Study Comparison 140

PYMNTS

AUGUST 13, 2020

By comparison, the first 3-D Secure (3DS) technology provides consumers with a user experience marked by lengthy times for processing and verification. The company reports that retailers selling through eCommerce are experiencing record sales numbers, but fraud rates are also on the uptick. Merchants pay $3.13

Technology 248

Technology User Experience Fraud Comparison 248

FICO

NOVEMBER 15, 2021

This week is International Fraud Awareness Week — but every week is Fraud Awareness Week for FICO, as we focus on helping banks and other financial institutions worldwide detect and manage fraud. Fraud is a big burden for such organizations but there are of course other victims – people just like you and me.

Fraud 105

Fraud Course Examples US 105

FICO

MARCH 10, 2022

I’ve been writing recently about the results of our recent global consumer fraud survey. But like most things, it’s not as simple as it sounds, as large customer groups are likely to switch banks if they are dissatisfied with their response to a fraud management incident (more on that in a moment). a biometric). your mobile phone).

Fraud 52

Fraud Survey Cards Customer Experience 52

NCR

AUGUST 7, 2017

Past trends in the financial services industry have shown that criminals waste no time in finding weaknesses in new technologies to commit fraud. But does this really offer an accurate picture of the prevalence of contactless card fraud, and are banks doing enough to protect their customers from this threat? million (US$8.7

Fraud 85

Fraud Cards Security Comparison 85

PYMNTS

OCTOBER 22, 2020

22) that it will be incorporating NFC capabilities, which increase the speed and security of transactions, into its “identify verification workflow.”. Mitek noted in a press release that its new NFC-enabled “fast lane” can enable “banks, FinTechs and financial organizations onboard their customers more simply and securely.”.

Technology 134

Technology Comparison Security Customer Experience 134

PYMNTS

FEBRUARY 21, 2020

trillion by 2020, but new sales channels also invite emerging fraud forms. More than $1 trillion is expected to be spent on cybersecurity solutions worldwide between 2017 and 2021 as companies address the need for protections and make major investments in digital fraud-fighting techniques. The Sizable Online Fraud Threat.

Customer Experience 152

Customer Experience Fraud Millennials Security 152

FICO

JUNE 25, 2019

When designing a strategy for detecting and preventing fraud, everyone always comes to the same conclusion—there is no silver bullet. Consequently, experienced fraud management executives are constantly experimenting and evaluating new data sources, scores, models, algorithms and technologies for that competitive edge.

Fraud 40

Fraud Comparison Compliance Industry 40

PYMNTS

FEBRUARY 24, 2016

But the reality is that the greatest security threat facing retail companies, according to a number of recent surveys, often comes from within. In the relative good news department, the NRF highlights one retailer in particular that is on the right track in addressing potential internal fraud: IKEA.

Retail 100

Retail Fraud Survey Branding 100

FICO

JUNE 25, 2019

When designing a strategy for detecting and preventing fraud, everyone always comes to the same conclusion—there is no silver bullet. Consequently, experienced fraud management executives are constantly experimenting and evaluating new data sources, scores, models, algorithms and technologies for that competitive edge.

Fraud 40

Fraud Comparison Industry Customer Experience 40

FICO

JUNE 24, 2019

When designing a strategy for detecting and preventing fraud, everyone always comes to the same conclusion—there is no silver bullet. Consequently, experienced fraud management executives are constantly experimenting and evaluating new data sources, scores, models, algorithms and technologies for that competitive edge.

Fraud 40

Fraud Comparison Industry Customer Experience 40

BankInovation

APRIL 19, 2021

Bot attacks increased by about 100 million last year, Kimberly Sutherland, vice president of fraud and identity strategy for data analytics company LexisNexis Risk Solutions, tells Bank Automation News in this episode of The Buzz. Human-initiated attacks, by comparison, were down by about […].

Comparison 81

Comparison US Analytics Fraud 81

Abrigo

OCTOBER 22, 2019

Financial institutions should be proactive with their fraud prevention on the dark web. . With prominent victims such as British Airways, Ticketmaster, and Newegg, among others, this type of attack became known as “Magecart” and gained notoriety within information security circles and beyond. Merchants of all sizes are being targeted.

Fraud 150

Fraud Cards Data Payments 150

PYMNTS

JUNE 8, 2020

The Securities & Exchange Commission ( SEC ) has moved to freeze the assets of a $12 million cryptocurrency mining and multi-level marketing (MLM) scheme, Coindesk reports. The firms are operating using distributed ledger technology (DLT), which has been growing — in 2018, the number of firms using it sat at only 27 percent by comparison.

blockchain 131

blockchain Analytics Utah cryptocurrency 131

PYMNTS

AUGUST 24, 2017

3D-Secure 2.0 In this case, though, that upgrade comes to a security protocol designed to strengthen security around online credit card transactions, but which has seen little change since its inception 17 years ago. Like Web 2.0, Mobile 2.0, and Vegetables 2.0 (And, And, yes, that’s a thing. In-App Purchases.

Security 102

Security CA User Experience Mobile 102

PYMNTS

SEPTEMBER 30, 2019

A joint study by the Better Business Bureau, the Financial Industry Regulatory Authority and the Stanford Center on Longevity interviewed 1,408 victims of fraud in 2018. By comparison, phone calls — which used to be the most common avenue for scammers — were less successful in cheating people.

Study 145

Study social media Online Fraud 145

FICO

APRIL 12, 2017

IDC predicts that in 2017, behavioral analytics across compliance, fraud, and cyber detection and prevention will be in place at 15% of banks, helping them to avoid losses, regulatory fines and sanctions. Banks have already made a big start in the fraud space. Power at scale: Enhancing fraud, compliance and cyber security defenses .

Analytics 49

Analytics Fraud Compliance Comparison 49

PYMNTS

OCTOBER 9, 2020

Attorney General William Barr said that while cryptocurrency could fundamentally transform how human beings interact and how we organize society, “ensuring that use of this technology is safe and does not imperil our public safety or our national security is vitally important to America and its allies.”. Lagging Consumer Use Cases.

cryptocurrency 205

cryptocurrency Bitcoin US Security 205

PYMNTS

APRIL 2, 2020

“Retailers selecting a card authorization method and network are often concerned with the impact on consumer convenience, their own bottom lines and security,” the report states. Signature debit is often more prone to fraud because signatures are relatively easy to fake and rarely subjected to scrutiny.

Cards 130

Cards Comparison Fraud Retail 130

PYMNTS

AUGUST 16, 2018

In an announcement , the FCA said that under new rules, customers will be able to easily find information on providers’ websites, including how and when services and helplines are available, contact details, how often the firm had to report major operation and security incidents and the level of complaints lodged at the company.

Comparison 100

Comparison Fraud Online Branding 100

PYMNTS

DECEMBER 9, 2019

The theft was fairly brash, and drew comparisons to Hollywood heist movie “Catch Me If You Can.” The lawyer was previously convicted in 2016 for attempted fraud involving Anheuser Busch InBev heiress Amicie de Spoelberch, who is the widow of Luka Bailo. The lawyer stashed the money in Singapore, Dubai and Monaco.

Comparison 130

Comparison Fraud Report Company 130

PYMNTS

OCTOBER 7, 2020

Attorney’s Office for the Southern District of New York charged four operators of a purported international digital-currency “Ponzi scheme” with money laundering and fraud. Federal Trade Commission found at least 184,000 instances of pandemic-related fraud as of Aug. A month earlier, the U.S.

Bitcoin 233

Bitcoin cryptocurrency Fraud Cards 233

PYMNTS

OCTOBER 8, 2019

The benefits could be quite significant in terms of providing additional security and, ultimately, a better consumer experience. Hungary, by comparison, has announced a shorter time frame than the U.K. The goal is for merchants to think about how they will manage the SCA transition, and to develop a fraud and exemption strategy.

Compliance 156

Compliance Security Industry Regulation 156

PYMNTS

JUNE 8, 2020

Open banking may soon become table stakes for financial institutions (FIs) — they need to act now and be able to offer it securely or risk getting left behind. FIs therefore cannot afford to drag their feet on implementing open banking, but many may be concerned that third-party access to customer data will exacerbate security challenges.

Security 151

Security Fintech Data Comparison 151

PYMNTS

MAY 11, 2018

Your assets are kept securely in your account.” ” Though South Korean authorities raided the exchange due to concerns over fraud, the South Korean Financial Supervisory Service did not reply immediately to a request for comment by CNBC. UPbit services, such as all transactions and withdrawals, are operating normally.

Bitcoin 101

Bitcoin cryptocurrency Comparison Taxes 101

Abrigo

JUNE 5, 2023

In the case of Silicon Valley Bank, the bank needed liquidity fast due to significant depositor withdrawals and had to liquidate its securities portfolio. The sale depleted its capital because SVB was in a large unrealized loss situation on its held-to-maturity investment securities.

Report 195

Report Risk Management Capital Data 195

PYMNTS

MAY 28, 2019

The company recently filed paperwork with the Securities & Exchange Commission (SEC) to go public on the New York Stock Exchange. billion – of funds were lost to card fraud in 2018, up from $1.4 The FBI’s Internet Crime Complaint Center (IC3) said in a report, for instance, that online fraud, theft and exploitation led to $2.7

Apple 159

Apple Mobile Fraud Branding 159

CFPB Monitor

MARCH 12, 2019

The report summarizes consumer complaints stored in the Consumer Sentinel Network, a secure online database. Nearly half of these reported scams involved government imposters that falsely claimed to be from the IRS, Social Security Administration, other government agency to get victims to turn over money and/or personal information.

Nevada 74

Nevada Georgia Florida Delaware 74

PYMNTS

JULY 11, 2017

Research suggests companies are turning to corporate cards for their security as well. For businesses, it means a one-time card number that slashes the risk of fraud. P-cards, by comparison, accounted for just 1 percent of B2B payments volume in 2015, estimated to be worth a combined $23 trillion.

Cards 100

Cards Comparison Groups Report 100

PYMNTS

SEPTEMBER 14, 2018

Hotel price comparisons are also included in the feature, allowing users to see their prices stacked up against others on a gradient: low, typical and high. Download the inaugural Payments Powering Platforms Tracker to read the interview with Sutter, along with the latest payments security headlines.

Payments 108

Payments Google Comparison cryptocurrency 108

Independent Banker

AUGUST 31, 2022

Mistakes, system glitches and fraud happen. TISA requires banks to use uniform disclosures to aid comparison shopping by informing consumers about the fees, annual percentage yield, interest rate and other terms for deposit accounts. Fraud and unauthorized use happen. By Mary Thorson Wright. Mistakes and glitches happen.

Community Bank 91

Community Bank Regulation Community Training 91

FICO

NOVEMBER 28, 2017

I wrote the script for this animation but it wasn’t until I saw the finished animation and ‘Jenny’ selecting her payment method from a screen (it’s at 1:07 if you want to check it out) that it occurred to me just how much scrutiny and direct comparisons could be made between bank account providers and card issuers in the PISP environment.

Analysis 55

Analysis Fraud Comparison Security 55

PYMNTS

JUNE 13, 2019

On that list of topics, he noted, is the ongoing discussion of how to improve safety and security in both card-present and card-not-present transactions, how to modernize their regulatory regime around security and data sharing, and how to deal with an extremely diverse population in terms of technological and commerce sophistication.

Cards 187

Cards Security United States Technology 187

FICO

MARCH 18, 2020

We recently commissioned a survey of 5,000 people across 10 countries to better understand how people view security when they open or use their accounts. With acceptance of biometrics becoming mainstream, and the need for fraud protection ever front of mind, how can banks use biometrics in order to be more effective and efficient?

Fraud 52

Fraud Analytics Samsung Comparison 52

PYMNTS

OCTOBER 18, 2016

But the report also found that, in examining the data over the span of several years, it appears that the cost of a data breach is “a permanent cost” that now needs to be recognized as companies develop their budgets and security strategies. ” Who’s At Risk? . ” Who’s At Risk?

Data 100

Data Training Security Analysis 100

PYMNTS

APRIL 7, 2017

These amounts pale in comparison to what cybercriminals stand to gain when they hold a victim’s data or computer systems hostage. “We We expect the profitability of DDoS attacks to continue to grow throughout the year.

Resources 129

Resources Comparison Security Bitcoin 129

PYMNTS

JANUARY 22, 2020

By comparison, 32 percent of Gen Z, 35 percent of millennials and 22 percent of Gen X consumers buy online from the same store. Sure, trust generally revolves around concepts of security, privacy and fraud prevention — of trusting a merchant or payment services provider to not allow the theft of one’s personal data.

Retail 137

Retail Millennials New York City social media 137