PYMNTS

OCTOBER 22, 2020

As has historically been the case with commerce security upgrades that roll in by government mandate, the path to European Union adoption of 3D Secure 2.0 That’s a path that McCutcheon said will have challenges, but perhaps fewer than we’ve seen in the recent history of security upgrades. also known as “3DS 2.0” Why 3DS 2.0

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Abrigo

SEPTEMBER 20, 2023

How financial institutions can prevent losses from 1st-party fraud Learn strong approaches to identifying, preventing, and detecting 1st-party fraud that will keep your AML program on top of fraud trends. Takeaway 3 Prevention and detection best practices can curb hard dollar 1st-party fraud losses while protecting clients.

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Abrigo

NOVEMBER 17, 2023

Measuring the cost of fraud losses. The true cost of fraud goes beyond the initial reported fraud losses Would you like other articles like this in your inbox? Takeaway 1 Fraud scams made worse by the pandemic continue to be successful, while crypto-scams are emerging. That equates to $35 billion annually.

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PYMNTS

DECEMBER 2, 2020

At a time when COVID-19 has seen global eCommerce and digital traffic grow by nearly 70 percent, security experts have braced for a commensurate surge in online fraud as the holiday shopping season continues. Fraudsters now have more avenues for attack available to them,” Rusi said. The key to this is user experience,” he said.

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PYMNTS

DECEMBER 7, 2020

At a time when 80 percent of apps ask for (and are usually given) users’ geolocation data, the fact that most mobile banking applications still don’t is unacceptable, GeoGuard CEO David Briggs told Karen Webster in an interview. So, the company simply promises to never share or sell location data to third parties. A Rude Awakening.

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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 Columbus, Ga.-based

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Abrigo

OCTOBER 28, 2021

Growing Cyber Fraud Concerns What can financial institutions do to prevent and detect cyber fraud? You might also like this blog on cyber fraud. Takeaway 1 Cyber fraud increased during the pandemic, leaving financial institutions working harder to prevent and detect it. Preventing Cyber Fraud. Learn more.

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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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PYMNTS

DECEMBER 29, 2020

With digital transactions and eCommerce soaring during the pandemic, the rate of increasingly sophisticated fraud has also risen. Accurate and reliable data is a critical piece of modernizing the AML regimen,” he said. consumers were increasingly likely to share their location with banks in order to protect them from fraud.

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PYMNTS

SEPTEMBER 20, 2018

ProfitStars , the Jack Henry & Associates division that provides risk management solutions for financial institutions, announced its latest fraud tool on Wednesday (Sept. According to ProfitStars, more than 2,500 community and regional banks offer online bill payment to their retail and small business clients through iPay Solutions.

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Abrigo

NOVEMBER 1, 2021

Combating Cyber-Enabled Fraud Requires Communication Increases in cybercrime or cyber-enabled fraud deserve attention from financial institutions, as Abrigo expert Terri Luttrell explains in this video. . You might also like this whitepaper, "The 2021 BSA/AML and Fraud Staff Survey: Top Issues for FinCrime Fighters".

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PYMNTS

DECEMBER 29, 2020

While fraud affects less than 1 percent of all card purchases, consumers who do lose funds from their bank accounts must go through lengthy and often stressful processes to get their money back. Getting security right also means balancing customers’ security and privacy concerns. Read the full story in the Tracker.

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PYMNTS

APRIL 9, 2020

Building a secure customer journey is always a bit of a balancing act. It has to be secure first and foremost, particularly when payments data is on the line. The battlegrounds for preventing fraud, he noted, are shifting — which means firms need to be able to shift with and ahead of the fraudsters.

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PYMNTS

AUGUST 5, 2020

While video streaming services remain popular, research indicates more consumers are also turning to online gaming and gambling platforms. The Tracker also examines how both fraudsters and online gaming platforms are employing new emerging technologies to muscle bad actors out of these services.

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PYMNTS

OCTOBER 14, 2020

Restaurants are working overtime to ensure their ordering systems are as friction-free and secure as possible, with many deploying advanced technologies to do so. Fast food behemoth McDonald’s began investing in artificial intelligence (AI) to give customers unique deals while also obtaining vital data about their ordering habits.

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PYMNTS

DECEMBER 18, 2020

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

NOVEMBER 13, 2020

Multifactor authentication (MFA) and biometric scans are quickly becoming the norm in numerous fields, including online accounts for banks and other businesses. The telecommunications industry is but one of many sectors looking to more securely verify customers and avoid fraud, which remains a growing problem. More than 6.2

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PYMNTS

JANUARY 23, 2020

The European Union’s long-anticipated 5th Anti-Money Laundering Directive (5AMLD), which modernizes security rules to reflect the needs and threats facing today’s economy, took effect in mid-January, and its impacts are already being felt across the payments space. Fiat-focused digital wallets must also boost their security.

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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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PYMNTS

JULY 25, 2017

Stemming from AI, machine learning is helping technology move at a swifter rate, and as more people bring their shopping needs into the online world, it’s likely that machine learning will play a larger role moving forward. Machine learning applies AI to take up-to-date data to help improve upon an experience without any human interaction.

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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

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. As Matt Mills, chief commercial officer at Featurespace , told Karen Webster in the latest Data Drivers, for financial institutions, the efforts to blunt the bad guys is akin to a game of whack-a-mole.

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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.

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PYMNTS

OCTOBER 19, 2018

They are able to use cutting-edge technology, black-market websites and top-level, nimble and well-secured global networks to work their craft. At the least, it won’t get any better — not according to any anti-fraud expert who is worth their rate. million fraud crimes in 2017, Trilli said, and $22.1 In the U.S., there were 16.7

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PYMNTS

NOVEMBER 10, 2020

Atlanta payments encryption firm Bluefin is partnering with New York mobile payments processor PAAY to advance eCommerce security. PAAY provides strong authentication at the front door and Bluefin encrypts and tokenizes the data at the point of interaction on the web. Each $1 of fraud costs retailers $3.13. .

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PYMNTS

JANUARY 4, 2019

Stepping into this world is vital for anyone serious about preparing a proper defense against online fraudsters in 2019. The 2018 holiday season has barely ended and it’s a good bet that retailers and payments players have yet to identify all the fraud that took place. More specifically, it can identify patterns that signal fraud.

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PYMNTS

FEBRUARY 27, 2020

Fraud continues to increase in many areas, despite extensive attempts to bring it to heel. Retail fraud attempts have doubled year over year, for example, while account takeover (ATO) fraud losses recently hit $14.7 billion , and phishing attacks now comprise 30 percent of all fraud attempts. billion to $7.2 million USD).

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PYMNTS

NOVEMBER 4, 2019

In the company’s ongoing efforts to prevent fraud on its site, Amazon announced a new program, Intellectual Property Accelerator, last month to help sellers make sure their products won’t be copied or counterfeited. According to a new LexisNexis study , overall retail fraud attempts doubled year-over-year and tripled since 2017.

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PYMNTS

OCTOBER 18, 2018

In search of added convenience and simplicity, banking customers are migrating to online and mobile banking interfaces, leaving in-person visits to brick-and-mortar branches behind. How Banks Are Weaponizing Data To Fight Fraud. Around The Digital Banking World. About the Tracker.

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PYMNTS

DECEMBER 31, 2020

Debit card issuers face an ever-growing array of fraud schemes perpetrated against them and their account holders. Effective card offerings require financial institutions (FIs) to quickly and accurately detect myriad forms of fraud, forcing them into a delicate balancing act. Security challenges are mounting, too.

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PYMNTS

OCTOBER 15, 2018

Recent reports indicate an uptick in fraudsters targeting large FIs, and headlines surrounding security breaches and cyberattacks fill the news on a near-daily basis. Visa and Mastercard designed the 3DS protocols and provide them under the names Verified by Visa and Mastercard Secure Code. For example, 3DS 2.0

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PYMNTS

OCTOBER 9, 2020

Brick-and-mortar commerce has rebounded in recent months, but consumers are still heading online for many of their purchases, maintaining trends set in the early months of the pandemic. These include running scheduled checks on their platforms to detect fraud. trillion opportunity for eCommerce retailers.

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PYMNTS

JANUARY 27, 2021

This increased digital presence also brings a greater risk of digital fraud, however. Some schemes that are impractical to wage in person are simpler to perpetrate online because of a decreased security presence, the anonymity of transactions and fraudsters’ abilities to stage hundreds of attacks simultaneously.

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PYMNTS

JULY 15, 2020

Mari Anne Bayliss , senior director of solution management at CyberSource , told Karen Webster that simply relying on machine learning as a weapon against fraud is not enough — not in an age where managing fraud risk during the great digital shift (and unprecedented transaction volumes) is so challenging. . Human Touch .

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PYMNTS

OCTOBER 7, 2020

Higher volumes of consumers are continuing to shop online even as brick-and-mortar stores reopen. The expansion of digital banking and payments has also contributed to a rise in cybercrime — 32 percent of consumers noted in one study that they had been the targets of COVID-19-related fraud, for example.

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PYMNTS

NOVEMBER 15, 2018

New data shows a projected 14 percent increase in fraud attempts during the upcoming 2018 holiday season — with fraud likely to peak on Thanksgiving Day. The data, from ACI Worldwide , is based on hundreds of millions of merchant transactions.

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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.

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