PYMNTS

APRIL 10, 2019

Corporates’ biggest procure-to-pay challenges often center around the friction of streamlining data flows and the movement of money, from sourcing and purchase order submission to invoice payment and reconciliation. ” Electronic invoicing requirements are one example of markets’ heightening focus on tax compliance. .

Taxes 139

Taxes Compliance Regulation Data 139

PYMNTS

AUGUST 29, 2019

million) by the country’s data-protection agency over a data breach that compromised the personal information of almost every adult in the country. Reuters is reporting that the tax agency said it was going to appeal the decision. The NRA said that it had data-protection measures in place when the data theft happened.

Taxes 102

Taxes Data Study System 102

PYMNTS

APRIL 15, 2020

The applications of artificial intelligence (AI) are manifold, and many feel that perhaps its most meaningful uses are in the healthcare field, where data can be a matter of life and death. Better fraud detection also reduces false positives, erroneous judgments that block legitimate transactions. Fraud, Waste and Abuse (FWA).

Fraud 254

Fraud System Taxes Report 254

American Banker

JANUARY 10, 2024

The agency plans to restrict access to a system that provides borrower tax returns to mortgage lenders beginning June 30. Left out of the loop, small-business lenders say getting credit to borrowers will become more difficult as a result.

Taxes 71

Taxes Data System Fraud 71

PYMNTS

AUGUST 17, 2020

When it comes to fraud threats, no company — large or small — is immune. In this week’s Data Digest, PYMNTS rounds up the latest cases and research into how corporates are being targeted with crimes like the business email compromise (BEC) scam, as well as how they’re fighting back.

Fraud 237

Fraud Trends Security Report 237

FICO

MARCH 8, 2021

This year the Internal Revenue Service (IRS) will start accepting 2020 tax returns on February 12 , about two weeks later than usual. That’s positive news—because you definitely want to file your tax return as soon as possible, particularly if you’re claiming a refund. How do fraudsters commit tax refund fraud?

Taxes 52

Taxes Fraud Security Cards 52

PYMNTS

NOVEMBER 14, 2018

As the saying goes, nothing in life is certain but death and taxes. To be certain of taxes, will blockchain seal the deal? Last week, Thailand’s Revenue Department was reported to be bringing blockchain projects into the fold to track tax payments, aided by machine learning.

Taxes 141

Taxes blockchain Data Report 141

Payments Source

MARCH 27, 2016

Fallout from widespread data breaches hurts many payment industry sectors, but this year's tax-filing season brings fresh pain for the prepaid card industry, with new details out connecting prepaid cards with some of last year's biggest tax refund fraud busts.

Taxes 64

Taxes Fraud Cards Data 64

PYMNTS

MAY 10, 2019

The data protection watchdog in the U.K. has found that Her Majesty’s Revenue and Customs (HMRC) collected millions of biometric voice data from citizens without their consent, according to a report. The affected records are those that did not collect specific consent to record biometric data to identify a person.

Taxes 108

Taxes Data System Groups 108

PYMNTS

AUGUST 12, 2020

Venezuela may be going forward with a plan to allow the use of the Petro (PTR) cryptocurrency to pay taxes, according to Cointelegraph. Ackerman is accused of wire fraud, and if convicted, he could face up to 20 years in prison and be fined $250,000.

Taxes 160

Taxes Bitcoin cryptocurrency New York 160

Abrigo

FEBRUARY 5, 2021

You might also like this webinar: "Detecting PPP Fraud: Optimizing Your AML Solution". Takeaway 1 To prevent the kind of fraud that plagued the Paycheck Protection Program in 2020, the SBA has put new measures in place that have created challenges. PPP fraud-prevention challenges arise. New Guidance Out. That issue was resolved.

Fraud 195

Fraud Lending Taxes Regulation 195

PYMNTS

SEPTEMBER 24, 2020

Fraud Threats To Digital Banking. These attacks involve hackers gaining access to bank customers’ accounts and doing as they please with them, whether transferring funds to the hackers’ own accounts or pilfering personal data like passwords or U.S. Identity fraud accounted for $16.9 Shetty explained.

Video 205

Video Fraud Digital Banking System 205

PYMNTS

SEPTEMBER 28, 2020

Corporate buyers must gather data to ensure that potential suppliers can meet their procurement needs, but their research does not stop there. They also need to collect and verify vendors’ details to comply with anti-crime regulations, adhere to tax reporting requirements and deliver convenient digital payments to these suppliers.

Data 166

Data Management Taxes Meeting 166

PYMNTS

FEBRUARY 18, 2020

Banks are increasingly embracing new channels to offer seamless omnichannel services to their customers, but doing so often creates silos that handle large amounts of collected data. Fraud orchestration can help solve this issue as it allows banks to build holistic fraud prevention defense systems and gain 360-degree views of their customers.

Fraud 131

Fraud Customer Experience Compliance Survey 131

Cisco

APRIL 26, 2022

The future of financial services will be shaped by the ability of financial institutions to extract and deliver more customer value from data. Those opportunities will rely on data and analytics for real-time decision making. Those ecosystems could add up to a $60 trillion integrated network economy by 2025, according to McKinsey.

Big Data 147

Big Data Data Analytics Examples 147

PYMNTS

NOVEMBER 4, 2019

have resulted in a delay for legislation that is now in draft form, which would include a provision to tax larger tech firms that derive sales from the region. The bill has proposed a 2 percent tax on revenues for firms as diverse as Facebook and Amazon. The moratorium would be aimed at reducing fraud , Reuters reported.

Taxes 101

Taxes Fraud Data Regional 101

PYMNTS

NOVEMBER 16, 2020

Fraud targeting digital banking users has been around as long as digital banking itself, but it has recently become more prevalent. The pandemic is exacerbating the problem, with a study finding that 22 percent of Americans were the targets of pandemic-related fraud attempts as of March. APP fraud is not a new occurrence.

Fraud 182

Fraud Security Strategy Digital Banking 182

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

Taxes Tools Payments Los Angeles 216

PYMNTS

OCTOBER 19, 2020

Meeting this fraud threat will require in-depth knowledge of fraudsters’ techniques and advanced technology and customer vigilance, according to Jamie Armistead , vice president and business line leader for banking app Zelle. “We We split out scams and frauds,” he explained in a recent interview with PYMNTS.

Fraud 171

Fraud Analytics System Examples 171

PYMNTS

JANUARY 3, 2021

A web page to which some customers were pointed states that the stolen data “may have included phone number, number of lines subscribed to on your account and, in some cases, call-related information collected as part of the normal operation of your wireless service.”. T-Mobile previously suffered a data breach in March.

Mobile 213

Mobile Data Taxes Security 213

PYMNTS

SEPTEMBER 12, 2019

FIs and FinTechs increasingly encounter new forms of fraud as they expand their digital operations, making it all the more important that they have strong risk assessment and compliance systems in place. A team of analysts can only handle so many potential fraud cases at a time, after all. . resources.

Fraud 189

Fraud Fintech Compliance Regulation 189

PYMNTS

AUGUST 2, 2019

Data storage firm Seagate revealed that it has moved its anti-fraud blockchain project with IBM into the pilot stage. The technology could also be used to verify that any returned drives have undergone a “certified erase” process to remove any user data.

blockchain 148

blockchain Fraud Data Report 148

PYMNTS

OCTOBER 21, 2019

Corporate fraud comes in many colors, but for many businesses, the most unexpected threat is the one looming from within company walls. This week, IBM announced a collaboration with Raw Seafoods to develop a blockchain solution to address supply chain fraud in the seafood industry, including cases of incomplete documentation and mislabeling.

Fraud 111

Fraud blockchain Ohio Survey 111

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

Fraud Cards Data Maine 184

PYMNTS

OCTOBER 24, 2019

Now, small business owners are struggling to make up thousands of dollars in tax payments that vanished or are in limbo , Chicago’s Daily Herald reported Tuesday (Oct. Pro/Data Workforce Solutions, based in Gurnee, Illinois, notified its clients in September that it would stop handling payroll services as of Oct. 28 and Sept.

Fraud 102

Fraud New York Illinois Taxes 102

PYMNTS

JULY 29, 2019

The big deal is now complete: Fiserv announced this morning (July 29) that it has completed its acquisition of First Data Corporation. The two massive firms first inked the deal earlier this year, which will see Fiserv purchase First Data for $22 billion in an all-stock transaction. He also noted that outside the U.S.,

Data 185

Data Leadership Taxes System 185

PYMNTS

FEBRUARY 3, 2020

As open banking frameworks continue to encourage bank-FinTech collaboration , the financial services market is exploring new ways to unlock data — not only with banks, but with each other. Unlocking Data, Unlocking Opportunities.

Data 184

Data Security Taxes blockchain 184

FICO

MARCH 16, 2018

Social Network Analysis (SNA) tools hold the potential to help tax and revenue agencies identify non-compliance and tax fraud. These tools have been proven to be effective in fraud detection¹, but to date haven’t been utilized to any large degree at tax agencies. Opportunities for Tax Agencies.

Analysis 45

Analysis Taxes Fraud Compliance 45

PYMNTS

AUGUST 15, 2019

Last month it was revealed that the IRS was sending letters to about 10,000 cryptocurrency holders warning them about the penalties they will face if they don’t report their income or pay taxes on the transactions. Accountants have reported that their clients have been receiving letters in recent weeks.

Taxes 116

Taxes cryptocurrency Analytics Report 116

PYMNTS

JANUARY 18, 2021

government's inability to curb the risk of fraud that emerged during the first round of PPP funding. According to the WSJ, nearly 1,500 firms are facing allegations of fraud after receiving a combined $2 billion in federal stimulus aid, while an additional 432 companies are said to have laid off staff after receiving their PPP loans.

Community 219

Community Fraud Taxes Massachusetts 219

PYMNTS

MAY 2, 2016

The Internal Revenue Service has estimated that the business of tax evasion is a costly one for the government. Tax cheats cost the government as much as $458 billion annually, according to data tabulated between 2008 and 2010. As noted by Fortune , public awareness over tax evasion has been heightened.

Taxes 100

Taxes US United States Fraud 100

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

Analytics Fraud San Diego Arizona 136

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

Fraud 100

Fraud Virgin Islands Pennsylvania Taxes 100

PYMNTS

OCTOBER 18, 2018

The world is full of inefficiencies, some more grating than others – such as B2B transactions’ ongoing reliance on paper for payments to the ongoing “tax” fraudsters and cybercriminals are exacting from businesses and financial institutions. percent: Uptick in the cost of fraud for U.S. percent: Uptick in the cost of fraud for U.S.

Data 123

Data Millennials Taxes Fraud 123

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

MARCH 23, 2020

Officials are warning of a rise in phishing attacks, while retailers have also been warned about fraud risks, with Amazon recently removing 1 million products for allegedly making fraudulent claims, recent Forbes reports said. Below, PYMNTS looks at some of the latest data points around the fraud threat. The report surveyed U.K.

Philadelphia 178

Philadelphia Fraud Taxes Survey 178

PYMNTS

APRIL 14, 2017

While the fraud ecosystem continues to rapidly develop and advance, big data may prove itself to be a strong weapon in combatting fraud. With that thought in mind, DataVisor set off on a mission to utilize harness and analyze that could potentially detect fraud and protect billions of users around the world.

Fraud 112

Fraud Online Big Data Taxes 112