PYMNTS

DECEMBER 12, 2018

Right now, though, we are talking about fraud, and how criminals use online data sites to steal from consumers in search of romance or, at least, some temporary companionship. Global fraud related to online dating scams costs “several billion dollars a year,” Hochrieser said, “and it’s growing every year.”.

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PYMNTS

JUNE 24, 2020

But this time around, consumers have had to pivot online to buy goods and services that no longer had been readily available in the age of social distancing. 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.

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Fraud Security Cards Course 262

PYMNTS

MARCH 7, 2019

New technologies keep emerging in the fight against fraud — biometrics, for instance — but they are not the only part of pushing back against criminals and preventing them from stealing data and money. The process tied to fraud prevention matters significantly, too. billion stolen emails and passwords have surfaced online.

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Fraud Security Data Cards 173

PYMNTS

NOVEMBER 28, 2018

Facebook could face coordinated regulation by nine countries after chief executive Mark Zuckerberg refused to be questioned by an international committee on fake news. Parliament could release confidential documents on Facebook that it seized, as soon as this week. The hearing comes in the same week that the U.K.

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PYMNTS

DECEMBER 9, 2020

The pandemic has spurred consumers to go online for all manner of daily activities — and the fraudsters are following them. And new regulations are taking root or are on the horizon to help protect consumers, their data and how that data might be used.

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Regulation Security Data Course 234

PYMNTS

DECEMBER 13, 2019

Enter the platforms, complete with algorithms and tools to discover and price-compare any experience or item that can be booked or rented online. The inclination of younger cohorts to plan like mad and (over)spend on getaways is well-documented. Outdoorsy is a P2P marketplace that views regulators as partners rather than pests.

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Fraud Millennials Comparison Online 130

PYMNTS

AUGUST 3, 2020

Firms worldwide are getting used to the idea that they might not interact in-person with their customers nearly as often, so they must optimize their digital services and verify online customers’ identities. For example, fraud across all financial products in the U.K. Using AI And Other Tools To Fight Fraud .

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Fraud Online Data Tools 225

PYMNTS

MARCH 27, 2019

As online gamblers all but feast on the odds and brackets of the ongoing NCAA Division I Men’s Basketball Tournament in the U.S. – What the regulator (or lawmaker, or court) giveth, the regulator (or lawmaker, or court) can taketh away. Regulations are another huge factor. the first March Madness since the U.S.

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PYMNTS

JUNE 12, 2018

Trulioo , the global identity and business verification provider announced Tuesday (June 12) that it has partnered with Acuant , a global provider of data capture and identity authentication solutions, to enhance GlobalGateway, its online identity verification marketplace. state and Canadian province, but over 190 countries worldwide.”.

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Online Fraud Analytics Data 116

Abrigo

AUGUST 10, 2020

As the COVID-19 pandemic continues to wreak havoc around the globe, related fraud continues to escalat e. T he first is targeting remote platforms and processes, including undermining online identity verification through fraudulent identity documents, and leveraging weak authentication processes for account takeovers.

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Fraud Regulation Lending Resources 195

PYMNTS

APRIL 22, 2019

The company recently announced a new online solution for onboarding fund houses. Meanwhile, Spanish banking group BBVA is tapping photo- and video-based document and biometric verification measures to secure its digital onboarding. How DraftKings Keeps Fraud Out of Fantasy S ports. customers now onboard digitally.

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Fraud Security Online Video 143

PYMNTS

SEPTEMBER 16, 2020

We may be wondering what’s on the other side of commerce, banking, and “normal” life after the pandemic — but rest assured it will be done (at a significant and accelerating pace) online. Online identity verification has many forms,” Laing told PYMNTS. We’re trying to protect both the consumer and the merchants serving them.".

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Online United States Regulation Fraud 263

Abrigo

AUGUST 10, 2020

As the COVID-19 pandemic continues to wreak havoc around the globe, related fraud continues to escalat e. T he first is targeting remote platforms and processes, including undermining online identity verification through fraudulent identity documents, and leveraging weak authentication processes for account takeovers.

Fraud 195

Fraud Software Resources Regulation 195

PYMNTS

JULY 16, 2020

German market watchdog Federal Financial Supervisory Authority, or BaFin , has come under fire for its actions in the Wirecard scandal, as the regulator reportedly failed to investigate warnings about the payments firm and instead cast more scrutiny on accusers, The Wall Street Journal (WSJ) reported.

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Report Fraud Regulation Marketing 169

PYMNTS

DECEMBER 8, 2020

Traditional bank account opening methods have long involved visits to branches and face-to-face meetings with officials in which physical identification documents are presented. The company said its technology prevented one fraud attempt every 51 seconds during the month, totaling 22,000 thwarted attacks. About The Tracker .

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PYMNTS

JANUARY 23, 2020

Luckily for the business world, fresh solutions are being developed, with strategies put into place to combat rising digital fraud. Developments From Around The World Of Digital Fraud. is facing fraud problems as well. For more on these and other digital fraud news items, download this month’s Tracker. About The Tracker.

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Fraud Online Data Regulation 160

Abrigo

MARCH 24, 2023

READ Takeaway 1 Documentation is one of the most critical aspects of performing a risk assessment. Step one Document the BSA/AML risk assessment Documentation is one of the more critical aspects of performing a risk assessment. The credit union’s risk analysis can only be adequately supported with supporting documents.

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Fraud Compliance Examples Analysis 195

PYMNTS

MARCH 19, 2019

March Madness has a new flavor this year: legal online betting. billion – on their favored teams via sportbooks, either in person or online, with other bookies or just with friends. billion – on their favored teams via sportbooks, either in person or online, with other bookies or just with friends. And about 4.1

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Online New Jersey Las Vegas Risk Management 125

PYMNTS

SEPTEMBER 8, 2019

TechCrunch reviewed many of the documents and reported that most of those impacted were located in the United States. While Monster technically does not have to disclose anything to regulators, some companies will still warn their users of an exposure.

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Online United States Security Data 184

Abrigo

AUGUST 18, 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. Be aware of emerging fraud schemes. Any time there is a large-scale , global issue, you can expect to see a rise in fraud, and COVID-19 is no different.

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Fraud Lending Trends Compliance 195

PYMNTS

SEPTEMBER 21, 2020

To that end, and as reported by BuzzFeed , documents submitted by banks to the U.S. The documents, officially known as suspicious activity reports (SARs for short) show that the banks had filed more than 2,000 reports across the past 17 years. In one example, reported on Monday (Sept. billion in fines.

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Fraud Report System FDIC 347

Abrigo

AUGUST 18, 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. Be aware of emerging fraud schemes. Any time there is a large-scale , global issue, you can expect to see a rise in fraud, and COVID-19 is no different.

Fraud 195

Fraud Trends Compliance Technology 195

PYMNTS

JUNE 11, 2020

Social distancing restrictions implemented to curb the virus’s spread are preventing compliance professionals from obtaining physical identification documents and holding in-person meetings that typically enforced anti-money laundering/know your customer (AML/KYC) compliance. Compliance Enforcement Goes Remote With Biometrics.

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Compliance Guidelines Meeting Tools 186

PYMNTS

AUGUST 3, 2020

Scandal-plagued German FinTech pioneer Wirecard counted among its payments processing clients an online casino that laundered money for an arm of “one of Europe’s most dangerous mafia organizations,” the Financial Times reported on Monday (August 3). ” Wirecard declined to comment for the FT article.

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Regional Online Fintech Regulation 362

PYMNTS

APRIL 19, 2019

Apple’s new offering, a biometric credit card, comes with security features that make fraud difficult for bad actors. The card also prevents fraud by using biometric security solutions, like Touch ID and Face ID, which are available in newer iPhone devices. Deep Dive: Keeping Online Gaming Age-Appropriate.

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Seattle Fraud Security Cards 155

Independent Banker

AUGUST 31, 2022

And as banking processes increasingly moved online, community bankers needed to fortify their online defenses against fraud and cybercrime. The pandemic forced industries to accelerate their adoption of digital applications, and community banking was no exception. In August, ICBA hosted the Bank Security Institute.

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Community Security Community Bank Fraud 91

Abrigo

MARCH 11, 2022

Expert insights on 10 regulatory topics that NBFIs should consider this year Review this list of what regulators are looking for in 2022 to help your NBFI pass exams with flying colors. Takeaway 3 NBFIs should review common deficiencies in AML programs that regulators are citing and fix issues before their next audit or exam.

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Regulation cryptocurrency Policies Management 195

PYMNTS

SEPTEMBER 25, 2019

The stage is set, then, for fraudsters to conduct their nefarious activities at scale, through synthetic ID fraud and other means. Regulations designed to combat fraud have yet to keep pace with the fraudsters themselves, noted Ritter. Verifying these e-documents becomes an important next step in increasing security for users.

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How To Security Fraud Mobile 189

PYMNTS

SEPTEMBER 8, 2020

1 million was stolen from the City of Industry via invoice fraud, claims officials in the California city. million was siphoned from one New Zealand business in a scam linked to invoice fraud. million per targeted attack. The average sought in a BEC scam is up from $54,000 in the first quarter of the year. $1 According to Stuff.co.nz

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PYMNTS

OCTOBER 24, 2018

Fewer consumers use physical currency when making purchases, and are instead turning to more modern, digital methods of payment, particularly when making purchases online with debit cards. Fraud is a huge consideration for us,” Bonkowski said. The Future of Fraud Protection. and around the globe.

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Fraud Cards Online Data 166

PYMNTS

JULY 13, 2020

One major change concerns how potential customers want to initiate contact with real estate agents and conduct many of the first property-buying steps, such as uploading documents or participating in house tours. Many markets’ stay-at-home orders led consumers looking for new homes to rely on digital tools.

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PYMNTS

NOVEMBER 11, 2019

Governments are tightening know your customer (KYC) and anti-money laundering (AML) requirements on various industries out of increasing concern over fraud threats. The Bank of Thailand is exploring new KYC approaches, announcing plans to pilot online biometric KYC checks on customers seeking to open savings accounts.

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Video Fraud Compliance Security 161

PYMNTS

DECEMBER 19, 2016

Beijing has started prosecuting 26 people who are behind what is alleged to be China’s largest online fraud scam. According to a report by Reuters , the fraud case involves a close to $8.64 billion scam from online peer-to-peer lender Ezubao. Sixteen other people are charged with taking deposits illegally.

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Lending Fraud Regulation Online 100

PYMNTS

SEPTEMBER 6, 2019

Unscrupulous practices can tarnish a brand that acts as an online marketplace facilitator. Verifying Digital Identity In The Sharing Economy , PYMNTS examines how consumers use sharing economy platforms in their everyday lives and how those platforms are taking measures to defend against digital fraud and identity theft.

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Security Data Online Regulation 125

Insights on Business

OCTOBER 18, 2017

We helped banks go online, becoming always-on for their commercial and retail customers. Trades, payments, transfers, claim-filing could happen all over the world, at any time, online and on any device. We’ve seen two areas where Cognitive capabilities have proven critical: fraud detection and regulatory compliance.

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Compliance Fraud Regulation Technology 101

Abrigo

NOVEMBER 22, 2021

They also had to ensure adequate documentation of borrowers’ payments under any loan modifications or accommodations, as well as any changes to collateral values or advances on new or existing loans. Major consumer loan compliance regulations. Regulation B, implementing the Equal Credit Opportunity Act (ECOA) for fair lending.

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Compliance Lending Risk Management Regulation 195

Banking 2020

NOVEMBER 25, 2015

China has introduced new draft rules that are intended to tighten regulations governing online payments in the country. Until now, this sector has been subject to very little legislation, but there have been claims that this hands-off approach has helped facilitate problems such as fraud and money laundering. A booming market.

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Regulation Online Marketing Payments 40