PYMNTS

SEPTEMBER 3, 2020

Those new avenues of fraud have leveraged hallmarks of the current pandemic — fears over public health and concerns about stimulus checks issued by the government — to snare unwitting victims. . . According to some estimates, as many as 22 percent of Americans have been impacted by COVID-related fraud. . .

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Fraud Data Policies Operations 279

PYMNTS

JANUARY 27, 2021

Banks’ use of such innovations is predicted to expand, too, with 60 percent of FIs saying they aim to gain customers and improve customer experiences using digital channels. This increased digital presence also brings a greater risk of digital fraud, however. The Fraud Threats Facing Digital-First Banks.

Security 213

Security Innovation Fraud Study 213

PYMNTS

MAY 4, 2020

Customers and merchants rely on their banks and credit unions (CUs) to ensure they have secure, convenient online transactions, and many FIs work to detect fraud by looking for abnormal purchasing behaviors that could indicate something is amiss. Around The FI Fraud Decisioning World.

Fraud 197

Fraud Data Tools Online 197

PYMNTS

NOVEMBER 20, 2019

This rampant availability of users’ data makes it easier for bad actors to wreak havoc and commit fraud. She recently spoke to PYMNTS about how Scotiabank has revamped its fraud strategy in recent years. “I Scotiabank’s Three-Pronged Innovation Strategy. It is estimated that more than 4.1

Fraud 117

Fraud Data Management Analytics 117

Independent Banker

NOVEMBER 30, 2021

As more customers moved online, fraudsters took advantage of new and increasingly inventive opportunities to commit remote authentication fraud. Say a scammer calls a community bank customer and gains their trust by using information obtained from a major data breach. Examples of remote authentication fraud. Online U.S.

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Fraud Strategy Community Bank New York City 160

Insights on Business

JUNE 3, 2019

As e-commerce has revolutionized the way we buy and sell online, we are no longer bounded by borders or time zones. Because of this, traditional rules-based fraud detection systems have become outdated and no longer work. Today, real-time payments require real-time fraud detection. This is no easy feat.

Fraud 138

Fraud Data Payments System 138

PYMNTS

OCTOBER 14, 2019

Money laundering and similar forms of fraud have become more concerning for FIs as reports of cybercrime circulate globally. dollar as their currency of choice on the black market, which means American banks must alter their anti-fraud and AML strategies — especially as regulatory fragmentation divides the U.S.

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Strategy Fraud Innovation Regulation 109

PYMNTS

OCTOBER 11, 2019

In restaurant technology, cloud kitchens have emerged as a new model driven by the rise of online ordering. And, in digital banking, banks are innovating with their strategies for fraud protection and anti-money laundering (AML). All this, Today in Data. 50 percent: Share of Swiss consumers who currently bank online.

Trends 122

Trends Innovation Technology Marketing 122

PYMNTS

JUNE 12, 2019

Online universities have become common as more students seek convenient, flexible ways to earn degrees. Western Governors University (WGU), a nonprofit online university based in Salt Lake City, was founded in 1997 by 19 governors of western U.S. WGU’s Take a Break program, which earned a Nonprofit Innovation Award from the U.S.

Online 145

Online Fraud Analysis Study 145

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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Fraud Online United States Cyber Security 100

PYMNTS

OCTOBER 12, 2020

Online marketplaces are connecting retailers, consumers and nonprofits amid the pandemic. And online shopping and digital fraud are increasing simultaneously, but merchants can take steps to ensure that debit-based card-not-present (CNP) transactions are kept safe. All this, Today in Data. 92%: Portion of U.S.

Retail 146

Retail Innovation Technology Security 146

PYMNTS

JULY 28, 2020

Fraudsters and financial institutions (FIs) are constantly evolving to best each other, and growth in synthetic ID fraud is revealing that many banks must enhance their security measures to stay in the lead. Researchers dubbed synthetic ID fraud the “fastest-growing form of identity theft” in the U.S.

Fraud 132

Fraud Data Examples Security 132

PYMNTS

OCTOBER 8, 2020

The growing cost of online fraud – and finding ways to detect it – has long been a costly concern of financial institutions (FIs). If you beat the geolocation fraud, you beat all the fraud,” Briggs said. For instance, Briggs recalled that he was once blocked from paying some large bills online while traveling in Italy.

Fraud 266

Fraud Seattle Security Technology 266

PYMNTS

APRIL 24, 2020

In-person payments of transactions like parking violation fines or sanitation fees is no longer possible, leaving government entities to accelerate their electronic and online payment acceptance capabilities. ” Accelerating ACH Innovation. “There is a great emphasis on data security,” he said.

Innovation 161

Innovation Payments System Data 161

PYMNTS

DECEMBER 21, 2020

While it initially focused on currency in online checkouts, the company has branched out to work on checkout and fraud detection, integrating with companies like Shopify , Magento , BigCommerce , WooCommerce and Salesforce Commerce Cloud , according to the the report. Data from the IBM U.S. billion, the report says.

San Francisco 245

San Francisco Innovation Fraud Capital 245

PYMNTS

APRIL 30, 2020

This shift to primarily digital comes with some perks, such as easier transactions and more connectivity for CU members, but it also means an increase in online payment volume that represents an irresistible opportunity for fraudsters. How Data-Driven Processes Can Improve Members’ Experiences During The COVID-19 Pandemic.

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Data Meeting Arizona Analytics 188

PYMNTS

SEPTEMBER 24, 2020

The ongoing COVID-19 pandemic and its associated social distancing and stay-at-home orders have pushed untold services online for easier consumer access, with banking serving as a prime example. Fraud Threats To Digital Banking. Identity fraud accounted for $16.9 Leveraging Video-based Onboarding, AI To Prevent Identity Fraud.

Video 205

Video Fraud Digital Banking System 205

PYMNTS

JANUARY 16, 2020

Fraudsters are starting off the new decade armed with the stolen data and credentials of millions of global consumers, and they are already putting that data to use. Today’s fraudsters are practiced and well-equipped, making proper data and consumer identification a must to maintain a successful business in any industry.

Fraud 133

Fraud Tools Data Industry 133

PYMNTS

JANUARY 20, 2020

Fraud protection techniques have advanced rapidly over the past decade to keep pace with fraudsters preying on emerging weak points. Bad actors have taken full advantage of the online world’s increasing fragmentation as consumers and businesses alike interact across dozens of channels.

Fraud 136

Fraud Tools Security Examples 136

PYMNTS

JANUARY 8, 2021

Equifax has inked a deal to purchase artificial intelligence (AI)-powered fraud prevention and digital identity technology provider Kount for $640 million. As digital migration accelerates, managing authentication and online fraud while optimizing the consumer's experience has become one of our customers' top challenges,” Equifax CEO Mark W.

Idaho 295

Idaho Fraud United States Customer Experience 295

PYMNTS

NOVEMBER 19, 2019

The fact that fraud is on the rise is not new, nor is it surprising that banks are turning to artificial intelligence (AI) and machine learning to fight back. In the latest Digital Banking Tracker , PYMNTS looks at how banks are currently approaching their use of AI and machine learning in fraud protection and technology innovation.

Fraud 109

Fraud Digital Banking Innovation Data 109

PYMNTS

SEPTEMBER 18, 2019

Mobile and online banking providers have been upping their fraud protection measures over the last decade, making it more difficult for bad actors to rely on some of the schemes that previously worked in such channels. Banks are dealing with rapid rises in fraud schemes such as ATOs, synthetic identity fraud and account opening fraud.

Fraud 195

Fraud US Tools Strategy 195

PYMNTS

SEPTEMBER 21, 2020

Artificial intelligence (AI) can improve the eCommerce experience – not just in terms of warding off fraud, but also in making sure payments can be processed efficiently and that the most effective payment gateways are accessed. At least some of that data, he said, can be gathered at the point of sale interaction.

Fraud 311

Fraud Payments Cards Security 311

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.

Analytics 266

Analytics Fraud ATM Report 266

PYMNTS

SEPTEMBER 28, 2020

PYMNTS' September Preventing Financial Crimes Playbook , done in collaboration with NICE Actimize , analyzes the pandemic-era fraud landscape and identifies its many pitfalls. This fraud targets all demographics and generations, with U.S. Financial crime-fighters simply won’t suffer this state of affairs.

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Fraud United States Examples cryptocurrency 202

PYMNTS

JULY 13, 2020

Potential homebuyers backed away because of rising costs, unemployment and health concerns, with April data showing that property sales in the U.S. Many customers have grown accustomed to virtual tours and online onboarding processes and may not wish to return to paper-based or manual methods. declined 17.8

Data 198

Data New York City New York Fraud 198

PYMNTS

SEPTEMBER 23, 2020

But George Connors , senior vice president of gaming and sports solutions at Fiserv , told PYMNTS in a recent conversation that other things have remained the same — like online gaming. market as regulatory restrictions were lifted from online gambling in recent years. The user experience has to be good,” he said. “If

Online 221

Online Security Cards User Experience 221

PYMNTS

NOVEMBER 27, 2019

The segment, however, attracts scammers – but technology is becoming better at detecting fraud. All this, Today in Data. Data: 320,000 sq. percent: Portion of sharing economy platforms that require new users to submit ID documents online. Size of Nordstrom’s new Manhattan store. Size of Nordstrom’s new Manhattan store.

Retail 167

Retail Innovation Fraud Data 167

PYMNTS

JULY 17, 2017

Fraud isn’t perpetrated by a random assortment of individuals; it’s organized crime. It’s “fraud as a Service.” It’s a very unfair match, if you ask Skye Spear, VP of eCommerce fraud-fighting firm Signifyd. “I Classic fraud deflection is rules-based. Fraud is dynamic. It’s a business. percent in Q1 2017.

Fraud 109

Fraud Data Delaware New York City 109

PYMNTS

OCTOBER 30, 2020

Those efforts have reduced the threat of fraud at physical payment terminals, but many consumers are now shifting to shopping digitally. Bad actors sometimes create phony sites that resemble those of well-known sellers, but steal consumers’ card data when it is entered at checkout. . Safeguarding Card Details.

Cards 192

Cards Online Fraud social media 192

PYMNTS

SEPTEMBER 17, 2019

Banks lost about $4 billion to account takeover (ATO) fraud attempts last year and fraudsters have been reluctant to abandon the scheme as this year progresses. Australian FIs are still feeling the repercussions of a breach to its New Payments Platform (NPP), which exposed the data of an unnamed number of banking customers.

Fraud 196

Fraud Digital Banking Delaware Tools 196

PYMNTS

MAY 6, 2020

Financial fraud costs businesses an estimated $1.45 trillion, and it resulted in almost half of global organizations noting they were victims of fraud in 2018. This has the unfortunate side effect of enabling opportunistic fraudsters to more easily swipe that data if they gain access, however. One recent breach at U.S.

Data 181

Data Fraud Tools Technology 181

PYMNTS

JULY 25, 2019

Customers have varying banking needs, but the global fraud phenomenon tends to have equal impacts. Challengers see fraud protection as especially important, particularly as they attempt to ween customers away from legacy FIs and their own nimbler FinTech competitors. Bringing a global fraud approach to a new local market.

Fraud 164

Fraud Marketing US Resources 164

PYMNTS

JANUARY 18, 2021

A Year of Innovation in the Face of Adversity Digital and omnichannel consumer journeys have accelerated during 2020, as click and collect, buy online pick up in-store (BOPIS), and contactless payments and touch-free shopping have all seen an enormous boost this year. Challenges And Opportunities Ahead In 2021.

Innovation 205

Innovation Payments Retail America 205

PYMNTS

JUNE 22, 2017

There’s another way, though, in which the fear of fraud bears down on the enterprise. A new report from Vesta Corporation finds fraud positions itself in the way of innovation and growth, even compliance. to understand how payments fraud is limiting corporates’ path to success. cents per every $100 transacted.

Fraud 108

Fraud Innovation Survey eBook 108

PYMNTS

APRIL 15, 2019

Not every innovation is a good innovation. The marketplace operators sell the data to cybercriminals who use it for identity theft, online fraud and other crimes – and the data is worth anywhere from $5 to $200. The extension is free and allows users to import the data they bought from Genesis.

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Fraud Data Security Ohio 129

PYMNTS

FEBRUARY 24, 2020

But even restaurants that are leveraging mobile ordering are being faced with more avenues for fraud to enter. Many expansions like these, however, are halted by the encroaching possibility of fraud. Such developments bring their share of challenges, including the threat of fraud, but pan-Asian eatery P.F. About the Tracker.

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Data Fraud Mobile Florida 214