Abrigo

DECEMBER 28, 2022

Most-read blogs on financial crime in 2022 Synthetic ID fraud, AML quality control, and SAR writing topics were among Abrigo's top blogs on AML/CFT and fraud this year. . Takeaway 1 AML/CFT and fraud professionals often keep up to date on industry trends by reading Abrigo's blog. The blogs your FinCrime peers are reading.

Fraud 195

Fraud Training Compliance Regulation 195

PYMNTS

NOVEMBER 13, 2020

The telecommunications industry is but one of many sectors looking to more securely verify customers and avoid fraud, which remains a growing problem. Robust digital ID verification practices could make many fraud schemes a thing of the past, but many banks and businesses have yet to adopt them. More than 6.2

Fraud 242

Fraud US Mobile Study 242

Abrigo

FEBRUARY 14, 2024

WATCH NOW Takeaway 1 Reduce stress and mitigate financial and compliance impacts Takeaway 2 AML employee succession plans should be “living” documents. Stay up to date on AML/CFT and fraud trends. Stay up to date on AML/CFT and fraud trends. We can help you navigate changing AML/CFT and fraud regulations.

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Training Fraud Compliance Regulation 195

The Paypers

FEBRUARY 19, 2024

Cross-border payment platform Verto has selected Resistant AI ’s document fraud detection solution for customer onboarding and to expedite transaction processing.

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Fraud Payments 41

Abrigo

NOVEMBER 7, 2022

Elder fraud prevention and education Learn strategies for recognizing and reporting elder fraud and exploitation. . Takeaway 1 Elder abuse, exploitation, and fraud are rising in the veteran population and can devastate older Americans. A growing target for elder fraud and exploitation.

Fraud 195

Fraud Resources Community Training 195

PYMNTS

AUGUST 11, 2020

Idaho-based Kount has released a new product aimed at preventing insurance fraud as the industry increasingly turns to digital, and even mobile, setups. The product will also, the company said, protect against identity assumption, bot quotes, and “ghost brokering,” which is when fraudsters use fake documents. In a Tuesday (Aug.

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Fraud Industry Idaho Customer Experience 234

PYMNTS

JANUARY 19, 2021

He also allegedly submitted fake tax documents with both applications. Yates was charged with two counts of wire fraud. There has also been an abundance of fraud connected to the coronavirus, including other such scams where people would make up fake businesses to access relief money.

Texas 263

Texas Fraud Taxes Report 263

PYMNTS

DECEMBER 15, 2020

New Jumio data indicates that new account fraud based on identity verification fell 23.2 Jumio’s Holiday New Account Fraud Report ’s fourth iteration looks into fraudulent attempts to open a new account with a modified government-issued ID in addition to a corroborating selfie.

Fraud 215

Fraud Video Report Trends 215

PYMNTS

AUGUST 17, 2020

When it comes to fraud threats, no company — large or small — is immune. PYMNTS breaks down the numbers of the latest in B2B fraud below. The Financial Times cited documents that suggest the invoice fraud scheme allowed NMC to secure loans in the UAE via Neopharma.

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Fraud Trends Security Report 237

Payments Source

JULY 22, 2020

TransUnion is expanding the geographic reach of its instant Document Verification service in response to the pandemic, with more users requiring ID confirmation from remote locations as fraud risks hit new highs.

Fraud 97

Fraud 97

Abrigo

JUNE 13, 2022

Elder fraud prevention and education Learn strategies for recognizing and reporting elder fraud and exploitation. . Takeaway 1 Elder abuse, exploitation and fraud continue to rise as the baby boomer generation ages. Takeaway 3 Education and reporting are key to preventing this type of fraud, so know your state's policies. .

Fraud 195

Fraud Training United States Survey 195

Payments Source

JULY 26, 2019

Counterfeit documents. Learn how to detect the 7 most common types of ID fraud, and how advanced identity verification technology can turn things around. You can’t afford to let fake identities slip through the cracks and put your company—and your customers—at risk.

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Fraud How To Technology Company 68

PYMNTS

MAY 18, 2018

Notarize, the notary public platform that allows for the remote notarization of documents online, said Thursday that it raised $20 million in a funding round that brings the tally of money raised, cumulatively, to $31 million. Documents are digitally signed by the notary using a special x.509

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Indiana Nevada Tennessee Texas 133

Abrigo

AUGUST 19, 2020

Key Takeaways COVID-19-related fraud are not new typologies; they just have a new spin. Adjusting your velocity scenarios can help detect money mule scams and check fraud. . COVID-19-related fraud schemes are escalating at an alarming rate. How can your transaction monitoring system detect trending COVID-19 related fraud?

Fraud 195

Fraud System Trends Software 195

Abrigo

AUGUST 19, 2020

Key Takeaways BSA officers need to stay aware of emerging fraud trends that are a result of the pandemic. Consider a risk-based lookback for your PPP portfolio to fight fraud. COVID-19-related fraud schemes are escalating at an alarming rate. How can your transaction monitoring system detect trending COVID-19 related fraud?

Fraud 195

Fraud System Trends Software 195

PYMNTS

JANUARY 13, 2020

Approximately $185,000 worth of payroll fraud hit a Minnesota company, with local reports noting that a bookkeeper allegedly manipulated payroll data to overpay her salary. This week, cybersecurity publication Naked Security reported that $6 million was stolen from a New York company via invoice fraud.

Fraud 223

Fraud Kentucky Colorado Payments 223

Abrigo

JANUARY 13, 2021

High-risk transactions identified To combat PPP fraud, the SBA Office of Inspector General (OIG) has collaborated with the U.S. Takeaway 2 To thwart PPP fraud, the SBA has collaborated with the U.S. Takeaway 2 To thwart PPP fraud, the SBA has collaborated with the U.S. Combatting Fraud. Stay up-to-date on PPP fraud.

Fraud 195

Fraud Community Lending Analysis 195

PYMNTS

JULY 23, 2019

China’s banking regulator is introducing stricter requirements on banks and insurance institutions that provide supply chain financial solutions in an effort to curb fraud, according to China Daily reports last week. Noah, however, claims that it had verified all documentation with JD.com. JD.com, Suning.com Spark Concerns.

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Fraud Regulation Report Management 128

PYMNTS

JULY 8, 2020

He and Nitendra Rajput , Mastercard’s vice president of product development and head of the company’s “AI Garage,” said that in many cases, AI is the only way to scale up sufficiently to meet the challenges the company faces with fraud and other business issues. “It Fighting Fraud in a Post-Pandemic World.

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Fraud Management Risk Management Company 274

PopularBank

APRIL 18, 2024

Yet, despite advances in bank fraud protection, scammers continue to develop and deploy sophisticated—and successful—methods. Earlier this year, the Federal Trade Commission announced over $10 million in fraud losses in 2023, up 14% from the previous year. Thieves attempting bank fraud may try one or more of the following scams.

Fraud 52

Fraud social media Cards Security 52

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. Fraud Prevention. New Guidance Out.

Fraud 195

Fraud Lending Taxes Regulation 195

PYMNTS

FEBRUARY 9, 2020

5) to one charge of conspiracy to commit wire fraud, stating that he assisted New York-based MyPayrollHR CEO and Founder Michael Mann defraud two companies, according to multiple reports last week. Mann allegedly was the leader of a bank fraud racket worth millions, which eventually cost him MyPayrollHR, his Clifton Park, N.Y.

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Fraud Minnesota United States New York 154

PYMNTS

DECEMBER 21, 2020

with money laundering, fraudulent banking and computer fraud, Reuters reported. “It This allows you to speed up the process of obtaining guarantees by the beneficiary and reduce the paper document flow. Italian police charged the former head of cryptocurrency exchange BitGrail, identified by the initials of “F.F.,”

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blockchain Bitcoin Fraud Report 206

PYMNTS

NOVEMBER 25, 2018

Venmo , the digital money transfer service owned by PayPal , suffered payments fraud earlier in 2018 that played a role in the company posting losses that were higher than forecasted for the first quarter of this year. While that helps reduce fraud, the WSJ noted that real users were also impacted when their transactions were declined.

Fraud 222

Fraud Payments Report Branding 222

PYMNTS

OCTOBER 9, 2020

Dinesh Sah, 55, of Coppell, Texas, was charged with three counts of wire fraud, three counts of bank fraud and one count of money laundering. Federal prosecutors on Thursday (Oct. 8) charged a Dallas-area man with allegedly playing a role in a scheme that sought to fraudulently obtain $24.8 million in PPP loans.

Texas 142

Texas Fraud Dallas Taxes 142

American Banker

JUNE 2, 2023

Javice has asked a Delaware federal judge overseeing JPMorgan's fraud lawsuit against her to allow her to demand documents from the bank and firms that advised it on the $175 million acquisition of her college loan planning site.

Delaware 36

Delaware Fraud Fintech 36

PYMNTS

SEPTEMBER 29, 2020

An EY whistleblower has alleged the global accounting firm was warned as far back as 2016 that senior managers at Wirecard may have committed fraud and one had tried to bribe an auditor, the Financial Times (FT) reported.

Fraud 189

Fraud Report Management Company 189

Abrigo

DECEMBER 10, 2019

Elder financial exploitation and elder fraud are rising at an alarming rate as they continue to be serious crimes in the United States. An increase in financial crime and fraud against the elderly is expected to continue to climb as the baby boom population (those born before 1964) age. The under-reported and growing crime.

Fraud 284

Fraud Study United States Training 284

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.

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Fraud blockchain Ohio Survey 111

PYMNTS

JANUARY 20, 2020

Fraud protection techniques have advanced rapidly over the past decade to keep pace with fraudsters preying on emerging weak points. Banks, businesses and others still have numerous fraud problems to address, from text-based scams and phishing to synthetic identity theft. The Technology Barrier .

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Fraud Tools Security Examples 136

PYMNTS

JULY 22, 2019

Apps with a possible security flaw, a malware phishing scheme and possibly, payments fraud, all done in the blink of an eye? Security firm Symantec said this past week that it found a security flaw in Android apps for WhatsApp and Telegram, which can allow hackers to manipulate data that flows between users.

Fraud 180

Fraud Payments Security System 180

PYMNTS

JUNE 24, 2020

Against a backdrop where CNP transactions are up 80 percent, a success rate of only a few percentage points can yield a lucrative fraud scheme. CNP fraud, Nolte said, has become a numbers game. It’s scalable and can be done from anywhere — and you can buy things from anywhere on the planet,” he said.

Fraud 262

Fraud Security Cards Course 262

PYMNTS

MARCH 8, 2019

Ignatov is from Bulgaria and was charged with wire fraud conspiracy. His older sister Ignatova, also from Bulgaria, was charged with wire fraud, and also securities fraud and conspiracy. The scheme amounts to fraud, prosecutors say. He was arrested on Wednesday (March 6) at LAX. Much of the money they received (about $1.2

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Fraud Las Vegas cryptocurrency United States 123

PYMNTS

OCTOBER 30, 2020

Digitizing documents is key to optimizing workflows, but when it comes to the procure-to-pay space, not all digital invoices and purchase orders are created equal. The result is a lot of paper and PDF documents, which creates a slew of challenges for the procure-to-pay workflow. What It Means to Be Digital. The Opportunity in Data.

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Fraud Data Google System 277

PYMNTS

MARCH 11, 2020

FIs in the United Arab Emirates are also looking to get ahead of fraud with improved digital KYC practices. Taking A Local Approach To Fighting Money Laundering, Fraud Worldwide. They also must keep their honest merchant customers protected from fraud. Download the Tracker to read the Feature Story. About The Tracker.

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Fraud Payments Guidelines Regulation 150

TheGuardian

OCTOBER 31, 2020

Santander accused a designer of supplying forged documents – but refused to explain its actions A businesswoman who found herself placed on the National Fraud Database after she applied to Santander for a mortgage, says she went through a “nightmare” after the bank refused to admit it had made a mistake. Continue reading.

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Fraud National 89

PYMNTS

JANUARY 31, 2021

A Leesburg, Virginia, man pleaded guilty to a federal bank fraud charge that he stole $2.5 Kindambu, 49, “carried out the scheme in connection with two businesses that he owns by creating fraudulent payroll documentation for each business, and then submitting that documentation in support of the PPP loan applications,” the U.S.

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Virginia Fraud Taxes Meeting 222