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

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

NCR

JULY 28, 2017

This convenience offers many advantages to the consumer, but financial institutions and consumers need to recognize one of the biggest disadvantages of this technological expansion: the increased risk of digital banking fraud. million instances of fraud and two million computer misuse offenses in England and Wales alone. .

Fraud 74

Fraud Digital Banking Survey Security 74

NCR

JULY 31, 2017

As we explored in the first part of this two-part guide, digital banking fraud is an escalating threat to financial institutions and their customers. Digital banking fraud can take many forms, such as identity fraud and account takeover , which are becoming increasingly common. million in 2016.

Fraud 74

Fraud Digital Banking social media Security 74

PYMNTS

NOVEMBER 17, 2020

But, as three banking security experts told Karen Webster, that same trillion-dollar loss represents a significant authentication opportunity for financial institutions (FIs) if they leverage risk-based authentication and behavioral analytics to help shape and safeguard the great digital shift. Deputizing The Consumer.

Fraud 195

Fraud Mobile social media Security 195

PYMNTS

JUNE 10, 2020

In one of the signs of where we are and where we are headed in the warp-speed transformation of digital banking, consider the internet meme that poses a multiple-choice question and series of answers. Who led the digital transformation of your company? A) CEO B) CFO C) COVID-19.”.

Digital Banking 145

Digital Banking Mobile Security Examples 145

PYMNTS

JUNE 13, 2019

Countering digital fraud is a lot like playing whack-a-mole: As soon as one fraudster is taken out, two more pop up where they’re least expected. The popularity of digital banking services has created ample opportunities for bad actors, leaving banks scrambling to protect themselves against the rising tide of fraud.

Fraud 128

Fraud Analytics New Jersey Data 128

PYMNTS

AUGUST 15, 2018

Businesses in nearly every industry need to worry about risks, especially when it comes to fraud and security. But those dangers are even more pressing in the banking industry, where bad actors are increasingly attacking financial institutions (FIs) on multiple fronts, and using multiple techniques. Meanwhile, U.K.-based

Fraud 103

Fraud Report US Digital Banking 103

PYMNTS

DECEMBER 19, 2019

M&A initiatives and partnerships, Open Banking business models and data integrations, and significant investments in new, cloud-based products and services have legacy banks working intensely to meet customers’ digital demands. ” Big Banks’ Big Security Concerns. . In the U.K.,

Fraud 104

Fraud Payments Security Fintech 104

BankInovation

JULY 10, 2020

The COVID-19 pandemic has accelerated the move toward digital banking platforms, but this has come with an increased risk for fraud. The percentage of risky worldwide transactions in the financial services industry increased by 11% since early March, according to a recent TransUnion study.

Fraud 75

Fraud Innovation Fintech Study 75

FICO

APRIL 7, 2022

Following the highly successful The 11 Commandments of Digital Banking eBook , we are publishing a series of 5 deeper dive blog posts that group the 11 Commandments below into common themes: Digital lift-and-shift is not a strategy! Friction – not inherently good or evil. Be personable in this impersonal channel.

Digital Banking 52

Digital Banking Security Fraud America 52

PYMNTS

AUGUST 16, 2018

The financial services industry is booming. Risk looms large with rampant growth in fraud, however, and financial institutions (FIs) must stay guarded to prevent cybercrime. The question becomes how you use those strengths and capabilities, and that’s really up to each individual bank.”. Reducing Risk By Fighting Fraud.

Digital Banking 101

Digital Banking Fraud Data Tools 101

American Banker

MARCH 5, 2024

False transaction disputes and other individual-level financial fraud cost the industry billions. It's time to join forces and even the odds.

Fraud 45

Fraud Data Fintech Industry 45

FICO

MAY 18, 2023

The innovative pay-as-you-go solution allows Dock’s clients, including banks, fintechs, and retailers, to intercept fraudulent transactions and protect their operations, while also improving the user experience. The fraud prevention solution is based on FICO® Falcon® Fraud Manager and FICO® Customer Communication Services (CCS).

Fraud 52

Fraud Technology social media Innovation 52

PYMNTS

SEPTEMBER 19, 2019

A reported 3,813 data breaches across a number of industries — collectively exposing 4.1 This has become a larger problem for FIs as they must not only deal with protecting customers from fraud, but also guard against bad actors armed with 4.1 AI, ML Innovations Necessary to Stop Account Opening Fraud.

Fraud 144

Fraud Data Mobile Tools 144

PYMNTS

OCTOBER 30, 2020

In today’s top news, Mastercard reveals its AI tool Cyber Secure to help banks fight cyber breaches, and Amazon reported record-setting earnings. Mastercard’s Cyber Secure Uses AI to Help Banks Fight Cyber Fraud. The final chapter in the digital banking transformation has not been written.

Cyber Security 148

Cyber Security Security Fraud Payments 148

FICO

MARCH 30, 2023

This got me thinking about how the seemingly innocuous shift to digital is impacting things on a macro level. Both from a cash and a fraud perspective, my curiosity was piqued, and I fell down the rabbit hole to learn more. Fraudsters Love Digital Real-Time Payments All this rapid change is great for one thing — fraud.

Fraud 52

Fraud ATM South Carolina Management 52

FICO

NOVEMBER 8, 2022

Strong Fraud Protection Could Draw More Customers - Survey. Fraud protection is now firmly on the radar for consumers and has risen substantially as a deciding factor - it could even be a competitive advantage for banks. In the UK, trade bodies have called for fraud levels to be considered a national security threat.

Fraud 52

Fraud Survey Security eBook 52

FICO

NOVEMBER 10, 2020

I am always glad to see headlines like this one, which ran last summer in The New York Times: “ How to Reduce Credit Card Fraud.” Every Transaction Is Assessed for Fraud. FICO’s patented and proven fraud analytic capabilities have helped organizations save $90 billion+ per year. Steps Ahead of Financial Criminals.

Fraud 98

Fraud Cards Analytics Mobile 98

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 The increasing sophistication of fraud attacks has led Scotiabank to reassess how it employs AI, ML and automation.

Fraud 117

Fraud Data Management Analytics 117

PYMNTS

MARCH 25, 2020

Digital fraud continues to flourish, with recent surveys finding that security breaches have increased 67 percent since 2014 and 11 percent since 2018. Organizations and security developers are investing billions of dollars in fighting these fraud attempts. Developments From Around the World of Digital Fraud.

Fraud 148

Fraud Security Resources Survey 148

PYMNTS

OCTOBER 4, 2019

Taco Bell is bringing self-ordering digital kiosks to its restaurants across the country. In digital banking, consumers want the type of financial services control that could potentially decrease their risk for fraud and leave them responsible for more authentication tasks. All this, Today in Data.

Fraud 116

Fraud Digital Banking Data Retail 116

PYMNTS

JANUARY 27, 2021

The banking industry faces many day-to-day business challenges, including competition with digitally native FinTechs and the ubiquitous social distancing restrictions brought on by the pandemic. This increased digital presence also brings a greater risk of digital fraud, however.

Security 213

Security Innovation Fraud Study 213

FICO

JANUARY 10, 2023

Top 5 Fraud Posts for 2022: Scams, Contactless and Money Mules. In a year that saw the word "scamdemic" coined, scams such as authorised push payment fraud were top of mind, along with various other fraud schemes. Few things change faster in the financial services space than fraud trends. FICO Admin. The Rise of the Bots.

Fraud 52

Fraud Cards Analytics Oakland 52

PYMNTS

MARCH 11, 2020

In today’s top news, the travel industry stands to lose $820 billion due to coronavirus fears, Uber may sideline riders and drivers who have the coronavirus or have been exposed to it, and lawmakers questioned Wells Fargo’s CEO over fake account scandals. Credit Sesame Launches Free Digital Bank Account.

Payments 140

Payments Fraud Regional Digital Banking 140

FICO

MAY 6, 2022

Following the highly successful The 11 Commandments of Digital Banking eBook , we are completing our series of 5 deeper dive blog posts that group the 11 Commandments below into common themes: Digital lift-and-shift is not a strategy! Read my post: 11 Commandments of Digital Banking: The Customer Journey.

Digital Banking 52

Digital Banking System Data Customer Experience 52

PYMNTS

OCTOBER 8, 2020

Feedzai had one of its best quarters ever amid the pandemic, while many industries, unfortunately, showed signs of deterioration. This simultaneously shows that our technology is mission-critical, and our business is crisis resilient,” he said, according to the release. Feedzai has seen the increase in fraud and scams with the pandemic.

Report 247

Report Fraud Risk Management America 247

PYMNTS

AUGUST 3, 2017

Back in 2004, fraud was on the rise globally. Digital fraud was a new beast, and people didn’t know any better than to be tricked by phishing emails that today would raise red flags for even the most technologically illiterate consumers — sketchy email addresses, poor grammar and those classic sob stories from Nigerian princes, to name a few.

Fraud 123

Fraud Payments Security Data 123

PYMNTS

NOVEMBER 30, 2018

In the wake of these and other cyberattacks, companies in a range of industries are eager to develop and debut new offerings aimed at curbing cybercrime. Around The Digital Fraud World . Around The Digital Fraud World . The two companies recently collaborated to bring GIACT’s verification services to PNC clients.

Fraud 185

Fraud Survey Trends Tools 185

PYMNTS

JULY 27, 2020

Hackers boasting that they have “cracked” some of the hashed passwords stolen from digital banking aggregator Dave may be one of the most disturbing elements to emerge from the cyberheist that exposed the private information of millions of users, a top expert notes.

Data 246

Data Fintech Report Security 246

PYMNTS

OCTOBER 7, 2020

Asked what lies ahead as digital banking increasingly takes root, Ali said the general push to contactless payments will continue, with some subsets growing especially quickly. By way of example, Ali noted that in countries such as South Africa, the use of QR codes has been embraced by the financial services industry.

Mobile 245

Mobile Security Fraud Digital Banking 245

ZootBlog

MAY 18, 2016

This is the first in a two-part series as we look more deeply at fraud concerns and best practices for managing this ever-changing threat. Over the past couple of weeks we’ve been discussing fraud mitigation strategies on ZootBlog—everything from EMV chip cards to encryption, tokenization, and biometrics.

Fraud 67

Fraud Taxes United States Study 67

PYMNTS

OCTOBER 16, 2019

Money laundering has always troubled financial institutions, but today’s digital banking system creates additional complexities as fraudsters around the world take advantage of financial technologies. Mobile, online and phone channels all have distinct fraud challenges and customer needs. The Cost of Compliance.

Compliance 123

Compliance Fraud Study Digital Banking 123

FICO

DECEMBER 7, 2020

With the FICO Platform, FICO has re-architected our industry-leading FICO® Falcon® Fraud Manager and the FICO® Siron® Anti-Financial Crime compliance suite, converging the functionality of both of these market-leading solutions under a completely new code line to run as a single, cloud-based software platform.

Fraud 52

Fraud Analytics Compliance Software 52

PYMNTS

SEPTEMBER 24, 2020

These considerations are especially important during the ongoing coronavirus pandemic as the wave of legitimate customers now doing their banking online has prompted a corresponding spike in fraud. Companies are reexamining how they can use cloud technologies to comply with changing security standards as digital banking volumes expand.

Compliance 151

Compliance Fraud Regulation Security 151

PYMNTS

OCTOBER 6, 2020

Several verticals, such as the T&E, airlines and exercise industries – pretty much any industry where in-person is a part of commerce – have been impacted. The Fraud Factor. Of course, with the massive uptick in card-not-present transactions, fraud has been on an upswing, too.

Fraud 205

Fraud Exercises Examples New York 205

PYMNTS

SEPTEMBER 30, 2020

Sometimes they’re just looking for more information, but other times they skip right to demanding chargebacks because they’re quite sure these purchases aren’t theirs and that they’ve been victims of fraud. Depending on the industry, friendly fraud can account for anywhere from 25-80 percent of all fraud losses.

Cards 220

Cards Online Fraud US 220