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

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PYMNTS

DECEMBER 17, 2020

Digital fraud is a long-running problem for merchants, retailers, banks and businesses of all types. Account takeovers and shipping fraud increased by 347 percent and 391 percent, respectively, between 2018 and 2019, and the pandemic has only exacerbated these issues. Developments From The World Of Digital Fraud.

Fraud 255

Fraud Online Retail Examples 255

PYMNTS

APRIL 10, 2020

TurboTax , the online tax preparation service, has said it is launching a free stimulus registration system to help people who don’t need to file a tax return. Approximately 10 million people in the country don’t have to file taxes, and roughly 80 percent can receive a stimulus check. .

Taxes 216

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PYMNTS

FEBRUARY 4, 2020

RELX will acquire Arizona-based Emailage for $480 million in the former’s push to establish a footprint in the fraud prevention market, according to Financial Times (FT). However, over the last decade, amid changing consumer needs, it rebranded itself to start working in the field of business information and data services.

Analytics 136

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PYMNTS

NOVEMBER 23, 2018

But those illegal marketplaces — often called the “Dark Web” — also present a juicy opportunity for those fighting fraud to detect and even preempt criminal activities than cost businesses revenue and, often, parts of their brand reputation. Early Warning Value. But that goes only so far.

Fraud 184

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PYMNTS

DECEMBER 13, 2016

With headquarters in King Of Prussia, Pennsylvania, Radial provides major brands and merchants with fraud, payments and tax solutions, as well as a host of other commerce technology solutions. “We We’ve settled into providing services as a payments and fraud business.”. Radial knows a thing or two about fighting fraud. “We’ve

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PYMNTS

FEBRUARY 28, 2020

As B2B FinTech firms continue working to break down silos, and ease the numerous friction points of the B2B payments process for both buyer and seller, the opportunities for data integration are vast. “This combination increases data accuracy, and shortens payment cycles.”

Taxes 209

Taxes Data Fintech Compliance 209

PYMNTS

OCTOBER 22, 2018

Fraudsters have found a new favored method for the holidays, the Sears’ bankruptcy filing finally came in and the major card networks found themselves on the wrong side of India’s emerging data privacy efforts. As of September 2018, losses from gift-card fraud have hit $53 million. Gift Cards’ New Unfavorable Fans.

Data 134

Data Fraud Cards Regulation 134

PYMNTS

APRIL 26, 2017

In an increasingly complex consumer landscape, creating a coherent retail strategy requires synthesizing hundreds of data points on industry, consumer and competitor trends. The one place Amazon has such an advantage over other online retailers is the ease with which it’s able to take consumers’ money.

Strategy 100

Strategy Retail Online Data 100

PYMNTS

FEBRUARY 21, 2020

Vendors looking to appeal to these corporate buyers’ shopping preferences and expectations must therefore ready online sales channels like merchant websites and B2B marketplaces. trillion by 2020, but new sales channels also invite emerging fraud forms. The Sizable Online Fraud Threat. False Positives and Data Security.

Customer Experience 152

Customer Experience Fraud Millennials Online 152

PYMNTS

APRIL 7, 2017

The approach to financial services for consumers and businesses is quite vast, but across the spectrum, access to and management of financial data is a critical component. Finicity , a company built for financial data aggregation, is jumping into the conversation. But these agreements also tend to inflame the debate over data privacy.

Data 191

Data Technology Security Tools 191

PYMNTS

MAY 12, 2016

Online merchants know very well that fraud costs them in many ways – in chargebacks, in false positives, in the friction that’s introduced at checkout that can cost a sale. But there’s nothing like putting the cost of fraud into the parlance that merchants know really well: units sold. Third Cost: Decline Orders .

Fraud 100

Fraud Taxes Online Report 100

PYMNTS

DECEMBER 17, 2020

Fraudsters, according to PYMNTS data, were already enjoying a banner year in 2020 as the world went online and the forces of fraud rapidly followed. But fraud never sleeps, nor does it take holiday vacations or stop looking for creative ways to turn society’s good news into an opportunity for personal gain.

Fraud 210

Fraud Taxes Washington Security 210

FICO

FEBRUARY 25, 2022

Since May 2019, major UK banks have participated in a voluntary code - the Contingent Reimbursement Model (CRM), designed to provide funds back to the victims of authorised push payment fraud or APP fraud. So, what can banks do to prevent APP fraud? Look Out for APP Fraud Signals – Develop the Rules.

Fraud 52

Fraud Payments Taxes Analytics 52

PYMNTS

AUGUST 17, 2020

A cyberattack directed at two dozen Canadian government platforms forced the shutdown of most of its online portals over the weekend. It collects taxes, administers tax law and policy and oversees charities. Online services are expected to be fixed by Wednesday (Aug.19), The CRA plays multiple roles.

Cyber Security 163

Cyber Security Taxes Survey New York 163

PYMNTS

JULY 22, 2019

KeyBank’s Costly Payroll Fraud Problem . Regional banking force KeyCorp disclosed a massive fraud that could potentially cost as much as $90 million – according to reporting out of CNBC last week. A loss for KeyCorp – but by far not the weeks’ biggest, or most explosive case of fraud. Starting with.

Data 100

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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. If you give your card, you can forget about it.”.

System 258

System Operations Fintech Taxes 258

PYMNTS

AUGUST 13, 2019

Included in the exposed data are bank account numbers, statements, tax and mortgage records, receipts for wire transfers, personal social security numbers and pictures of drivers’ licenses. The regulatory agency asked him to provide anything he had that was tied to the data exposure. KrebsOnSecurity reported the breach in May.

Data 116

Data Seattle Security Regulation 116

PYMNTS

JANUARY 8, 2018

Credit Karma said yes to early tax refunds for consumers – for free. Good Tax Lending Karma. Good news for consumers avidly awaiting their tax refund for 2018: Credit Karma Tax is rolling out a new product call Earlybird Advance, an online refund advance service. And that was just Tuesday.

Taxes 105

Taxes Data Louisiana Colorado 105

Independent Banker

OCTOBER 1, 2022

Financial fraud and cyber attacks aren’t a one-age-fits-all scenario. Community banks can find ways to mitigate age-related fraud through technology, as well as by educating their customers of their particular risks. Reports about fraud losses: Millennials vs. people 40+. By Katie Kuehner-Hebert. Rehman Khan, Travelers.

Fraud 133

Fraud social media Millennials Examples 133

PYMNTS

AUGUST 13, 2019

Included in the exposed data are bank account numbers, statements, tax and mortgage records, receipts for wire transfers, personal social security numbers and pictures of drivers’ licenses. The regulatory agency asked him to provide anything he had that was tied to the data exposure. KrebsOnSecurity reported the breach in May.

Data 109

Data Seattle Security Regulation 109

PYMNTS

DECEMBER 16, 2020

Amid the commission caps, and amid the pandemic’s tailwind that has spurred a great digital shift toward food delivery through online channels – might eateries and aggregators be partnering to navigate a post-COVID future? With data sharing, to boot. To that end, as reported on Wednesday (Dec. The study found that 76.7 percent and 37.6

National 160

National New York City Policies New Jersey 160

PYMNTS

FEBRUARY 10, 2020

Data Shows 41 Pct Hike In Ransomware Attacks In 2019. In the fourth quarter of 2019, companies paid on average $84,116 to get their files back from online thieves. Crypto Fraud Scores More Than $4B In 2019. Amazon (And Others) Brace For India’s New eCommerce Tax. What Amazon At 10 Can Teach Us About Uber At 10.

US 142

US Taxes Millennials Payments 142

PYMNTS

SEPTEMBER 18, 2018

Discussions about ID theft often involve hackers and cyberattacks gaining access to consumer and payment data. A consumer could buy a fake stub for as little as $40; a consumer would need at least $150 for a fake tax return. But action from the U.S. Federal Trade Commission on Tuesday (Sept. Simmons was ordered to pay $15,000.

Taxes 134

Taxes Fraud Operations Security 134

PYMNTS

JUNE 2, 2020

The company wrote in its United States patent application that it can be challenging, if not impossible, to ascertain the trustworthiness of a party as activities move online and internationally. Amazon Technologies Inc. It noted, “Trust is earned. Once trust is lost, it can often be difficult to regain.”. Gartner Inc.,

blockchain 142

blockchain United States Taxes System 142

PYMNTS

DECEMBER 22, 2020

Italian consumers are embracing a new government program aimed at boosting retail sales while tamping down on tax evasion that allows buyers to receive a 10% refund on card payments made in stores. By offering the incentive, they hope to cut down on black market deals and fraud, according to The Financial Times.

Cards 188

Cards Payments Taxes Study 188

PYMNTS

AUGUST 13, 2018

WeChat , an online messaging service operated by Chinese technology conglomerate Tencent, is looking to enhance its ability to facilitate employee expense reimbursements, and reports said the firm is exploring blockchain as part of the effort. CoinDesk reported Friday (Aug.

blockchain 102

blockchain Management Taxes Tools 102

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.

Company 163

Company Payments Fraud Meeting 163

PYMNTS

NOVEMBER 22, 2019

The probe would concentrate on tech firms that provide financial institutions (FIs) with data storage. Privacy Advocates Fear Google Will Mine Fitbit’s Health Data. billion Fitbit deal is sparking privacy concerns that the search company will mine the health data of the 27 million people who tap into the fitness tracking device.

South Dakota 101

South Dakota Apple Taxes Cards 101

PYMNTS

JUNE 14, 2018

Identity theft is an unfortunately reality for more consumers as data breaches continue to rock the market. “Small business identity theft – stealing a business’ identity to commit fraud – is big business for identity thieves,” warned NCSS CEO Mary Ellen Seale in a statement. million, in 2016 alone.

Fraud 109

Fraud Taxes Resources National 109

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.

Online 98

Online Company Retail Payments 98

PYMNTS

DECEMBER 8, 2020

Then of course, there was the fraud problem to contend with. Robinson said that the government is increasingly looking to the payments players and banks to help with analytics, third-party data and even craft data sets. “I Edwards noted that many checks bounced, and fraud still is a problem.

Payments 183

Payments Fraud Taxes Tools 183

PYMNTS

DECEMBER 3, 2018

In a press release , Mastercard and Microsoft said that currently verifying an identity online is dependent on physical or digital proof which is managed by a central party. What’s more, the companies argued, people are being subjected to more complexity in proving their identity and managing that data.

Taxes 184

Taxes Online Data Management 184

PYMNTS

JANUARY 24, 2020

Government disbursements can range from child support payments and annual tax returns to pension and retirement fund payouts. The IRS has accepted digitally filed tax documents and issued digital refunds for years, and it received approximately 29 million electronic returns via direct deposit between February 2018 and February 2019.

Payments 130

Payments US Fraud Innovation 130

PYMNTS

JUNE 13, 2019

The digital identifier, he elaborated, tokenizes an organization’s sensitive data, including banking details and account numbers. The tokenization helps sidestep the vulnerabilities to fraud that exist when sending checks, ACH and wire transfers. Those options span vouchers, eWallets, as well as online and offline banking.

Charlotte 189

Charlotte Payments Taxes Compliance 189

PYMNTS

NOVEMBER 30, 2020

State mandates have also forced some businesses to close or limit on-premises operations, prompting such merchants to connect with consumers online instead. Fraudsters have redoubled their attacks on eCommerce channels, however, making consumers more concerned about data security.

Cards 151

Cards Security ATM Data 151

PYMNTS

NOVEMBER 22, 2017

Account takeover fraud , card-not-present (CNP) fraud, tax fraud, selling stolen financials, selling fake bank accounts, the Dark Web: If security experts are fighting it today, chances are that Brett Johnson was there when it started. The family lived in eastern Kentucky, an area Johnson describes as “fraud central.”

Fraud 120

Fraud Taxes Community Cards 120