PYMNTS

DECEMBER 12, 2018

Right now, though, we are talking about fraud, and how criminals use online data sites to steal from consumers in search of romance or, at least, some temporary companionship. Global fraud related to online dating scams costs “several billion dollars a year,” Hochrieser said, “and it’s growing every year.”.

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PYMNTS

NOVEMBER 26, 2019

As consumers embrace real-time transactions, financial institutions (FIs) must recalibrate their fraud-fighting strategies. The real-time movement of money,” he told PYMNTS, “has implications on your ability to manage losses — and you have to make sure you are keeping pace with new fraud trends.”. Real-time payments, real-time risk.

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PYMNTS

JULY 8, 2020

He and Nitendra Rajput , Mastercard’s vice president of product development and head of the company’s “AI Garage,” said that in many cases, AI is the only way to scale up sufficiently to meet the challenges the company faces with fraud and other business issues. “It Fighting Fraud in a Post-Pandemic World.

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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. Successful criminals, including those who ply their trade via digital and mobile channels, have certain advantages: flexible morality, of course, is one; another is determination.

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Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? Of course, banks and credit unions are highly regulated industries, and this is increasing. Typically, monitoring and keeping up with changes in regulations and then modifying your entire company's operations to stay compliant is no small feat.

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Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? Of course, banks and credit unions are highly regulated industries, and this is increasing. Typically, monitoring and keeping up with changes in regulations and then modifying your entire company's operations to stay compliant is no small feat.

Technology 195

Technology Fraud Compliance Regulation 195

PYMNTS

JANUARY 29, 2019

For payments and commerce , there’s another uncertainty that hangs in the air: Will legal online sports betting keep going forward, despite a recent decision by the U.S. In the meantime, what should businesses that want to operate in that new world do besides sit around and wait? More about that in just a bit, though. Proactive Steps.

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PYMNTS

JANUARY 1, 2021

As reported in this space , the DSA and DMA cover online marketplaces, social media and other platforms. The proposal also mandates more disclosure on "online advertising and on the algorithms used to recommend content to users.". which of course is Brexit-ing the EU). In recommendations issued earlier in the month by the U.K.’s

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PYMNTS

FEBRUARY 19, 2019

One day — maybe one that has already happened for some PYMNTS readers — we might look back with fondness and nostalgia on that time when chargebacks stood as the main worry merchants and other organizations faced when it came to fraud and risk. That’s where Kevin Lee comes in. Changing Scope. The stakes could hardly be higher. Insult Rate.

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PYMNTS

JULY 20, 2017

Digital Shadows , the industry leader in digital risk management, revealed its findings on the changing habits and tactics of organized credit card fraud gangs, discovering a new trend in the form of remote learning “schools.”. The course includes webinars, detailed notes and course material.

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PYMNTS

OCTOBER 29, 2018

There may come a day, a generation or two from now, when stories about the data breaches and other hacking threats faced by payments and commerce operators in 2018 seem quaint — or, at the least, like relatively primitive foreshadowing of a new type of digital criminality. It’s already happening, of course, albeit tentatively.

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PYMNTS

MARCH 27, 2019

As online gamblers all but feast on the odds and brackets of the ongoing NCAA Division I Men’s Basketball Tournament in the U.S. – In that spirit, most consumers understand the need for a relatively involved onboarding process when first signing up for an online gambling site or service. the first March Madness since the U.S.

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PYMNTS

JUNE 21, 2019

The dispute over the Office of the Comptroller of the Currency ‘s (OCC’s) national bank charter, which became available to FinTech firms last year, has reportedly caused technology conglomerates to shy away from a tool that aims to provide nonbank firms with a more streamlined way to operate on a national level. Trackers and Reports.

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PYMNTS

JANUARY 8, 2020

Of course, that also means fraudsters are figuring out how to better steal from those consumers. In a new PYMNTS interview, Karen Webster talked with Yinglian Xie, CEO and co-founder of DataVisor , about some of the new trends in fraud, and why the travel industry is a big target for increasingly sophisticated criminals. Fraud Types.

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PYMNTS

DECEMBER 21, 2020

As the new Tracker states, “eateries are turning to online and mobile ordering as well as delivery to stay afloat, with online order volume from food chains spiking by 225 percent since the pandemic began. These growing revenue streams carry their own risks, however, not the least of which is their propensity to be targeted by fraud.”.

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PYMNTS

FEBRUARY 20, 2018

When most people hear about online fraud, they tend to think about what Noa Kalechstain, Riskified ’s head of chargeback recovery, calls “classic fraud,” she explained in a recent conversation with PYMNTS. It has attained the status of “classic” because fraud using stolen financials is the most prevalent type.

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PYMNTS

JULY 9, 2018

The problem with fighting fraud — according to GIACT EVP of Product David Barnhardt in this week’s edition of the PYMNTS Topic TBD — is how much information fraudsters have at their fingertips about regular consumers. Of course, in these cases, appearances were deceiving. The Brazen Fraudster.

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PYMNTS

JANUARY 22, 2019

Not to mention, all those late nights desperately striving to absorb all the information we should have learned over the course of weeks instead of hours, had we the good sense to keep pace with the work. In fact, missteps in digital fraud prevention can, as Stuppy said, “put the entire digital investment at risk.” Heck, yeah!”.

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PYMNTS

JANUARY 10, 2017

It’s early in 2017, but fraud looms like Nosferatu chancing upon the sleeping maiden. As so much business moves online, he said, with that $8 billion figure (writ much larger internationally), the question becomes how to minimize threats while maximizing revenues without forcing the tradeoff of security and convenience for the customer.

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PYMNTS

SEPTEMBER 14, 2016

ACI Worldwide advises that, as the world moves toward immediate payment ecosystems, a holistic view of the transaction, with layered controls from origination to the application of real-time rules, is the only way to push the pedal to the metal on faster payments and put the brakes on fraud. million in 2007 to £52.5 million in 2007 to £52.5

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PYMNTS

DECEMBER 24, 2020

Or maybe that cryptocurrencies have yet to go mainstream beyond the headlines because fraud still lurks. It all depends on how you look at it — and where you look, of course. Bitcoin, of course, exists as one of the most widely recognized cryptocurrencies. And, of course, the crypto landscape extends well beyond bitcoin.

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PYMNTS

DECEMBER 16, 2020

And then, after the transaction is made, there’s the task of understanding the byzantine codes and data that are tied to online statements. The “language” of the statements may represent a Rosetta Stone of sorts for the 110 million consumers who have pivoted online in the wake of the pandemic. The Scope Of The Problem.

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PYMNTS

MAY 20, 2020

For merchants and financial institutions (FIs), the “new normal” of commerce — done increasingly online — means that battling fraud is a bit like feeling an elephant. The pandemic has paved the way for fraudsters to try new avenues of attack, and is laying bare the limitations of the fraud prevention tools currently deployed.

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PYMNTS

APRIL 18, 2019

Over the course of their operation, the men shipped more than 1,000 packages to buyers in 43 states, and laundered $2.3 From there, they tried to buy a kilogram of alprazolam (sold commercially as Xanax), as well as a vial filling and capping machine, powder mixer, tablet press machine and Xanax punch dies. million in cryptocurrency.

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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. So, I think there’s a real kind of threat emerging right now.”.

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PYMNTS

DECEMBER 9, 2020

Open banking, of course, allows financial data to be shared and synthesized across everyday financial life, making banking by app far less of a novelty than it once was. Scale and reach, of course, are critical to turning red ink to black. Diversification remains key – toward operating profits, beyond the pandemic.

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PYMNTS

SEPTEMBER 28, 2020

“ Digital transformation ” has been the buzz phrase for small- to medium-sized businesses ( SMBs ) of all types over the past half-year as they rushed to reorganize their operations end to end amid the pandemic.

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FICO

MAY 19, 2020

History tells us that things like natural disasters, times of economic instability, and fears of recession or unemployment provide the perfect environment for increased fraud and financial crime. So, I thought I would outline my top 5 fraud manager considerations during COVID-19. Examples include fake emails from CDC, WHO, and FEMA.

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FICO

JANUARY 22, 2021

Last year I blogged a lot about how payments and fraud patterns have changed. But despite the COVID pandemic having effected massive changes in the ways consumers transact, credit card fraud is still a “thing,” and a big, ever-changing thing at that. Fraud Numbers Vary Widely. Credit Card Fraud Tactics and COVID-19.

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PYMNTS

JANUARY 22, 2019

Not to mention, all those late nights desperately striving to absorb all the information we should have learned over the course of weeks instead of hours, had we the good sense to keep pace with the work. In fact, missteps in digital fraud prevention can, as Stuppy said, “put the entire digital investment at risk.” Heck, yeah!”.

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PYMNTS

APRIL 1, 2019

Synthetic fraud is a brave new frontier in bilking billions, as commerce goes increasingly online. The money is being earmarked across a number of initiatives, designed to combat synthetic fraud. Flavors Of Fraud. Drilling down on the details, Harris maintained that there are two types of synthetic fraud.

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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

DECEMBER 15, 2020

In the meantime, CUs will continue to move more of their transactional activities online — done across contactless means, of course, which paves the way to using technologies in new ways to conduct daily financial life. Beware Of Fraud . Of course, where payments activity flows, so do fraudsters.

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PYMNTS

MARCH 20, 2020

“Using this ‘isolation, investigation and containment’ approach will allow us to bring the servers back online as quickly as possible, with minimum disruption to service; however, we are anticipating some disruption to certain services, particularly in North America, whilst we undertake this task.

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PYMNTS

FEBRUARY 24, 2016

As the NRF story points out, although the fact that 98 percent of respondents to the First Advantage survey stated that it was important to screen employees indicates a general awareness of the threat of internal fraud, not nearly as many companies take action regarding it. It can be done online,” he told the NRF. “It

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PYMNTS

MAY 20, 2020

The digital age, of course, has given rise to digital scams. People of all ages, including the elderly, are being victimized by criminals through cryptocurrency-related fraud schemes,” the bureau said, pointing out blackmail and work-from-home scams.

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CB Insights

FEBRUARY 13, 2020

As businesses and consumers become more comfortable using credit cards online, the proportion of US commerce that takes place online has steadily increased over the last 20 years. Specifically, the Collisons aimed to more seamlessly connect online businesses and payment processors, allowing more businesses to accept online payments.

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