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

PYMNTS

MARCH 8, 2019

United States prosecutors are bringing criminal charges against the leaders of OneCoin, a cryptocurrency, alleging they were operating a pyramid scheme worth in the multi-billions, when selling the currency. Ignatov is from Bulgaria and was charged with wire fraud conspiracy. The scheme amounts to fraud, prosecutors say.

Fraud 123

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PYMNTS

JUNE 5, 2020

Providing robust services via mobile channels is especially important now, as the COVID-19 pandemic has caused businesses to operate remotely and consumers to stay at home as much as possible. FIs must be careful not to lower their fraud-fighting standards in their pursuit of open banking and be selective about the entities they allow in.

Security 174

Security Fintech Data Fraud 174

PYMNTS

JANUARY 27, 2020

Growing attack-related expenses force businesses to remain vigilant against emerging threats, including phishing and other types of fraud that their own employees may willingly or unwillingly perpetuate. Ensuring Secure Workplace Practices. Other fraud attempts targeting workplaces are no less dangerous. Fighting the Phishers.

Fraud 249

Fraud Policies Security Resources 249

PYMNTS

JANUARY 22, 2021

Westlake has already sent several million dollars over the RTP network during the pandemic, according to Westlake’s Director of Accounting Operations Raul Alvarez. As with any payment method, fraud attacks and human errors can upend customer experiences unless companies have strong security strategies in place.

Security 141

Security Fraud Tools Customer Experience 141

PYMNTS

SEPTEMBER 6, 2019

The sharing economy is a two-way street that operates on trust between suppliers and customers, and that trust is even more important for high-value exchanges like home shares. percent of sharing economy platforms require new users to verify their identities by submitting identification documents online. How Do Platforms Authenticate?

Security 125

Security Data Online Regulation 125

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.

Fraud 150

Fraud Payments Guidelines Regulation 150

PYMNTS

APRIL 9, 2019

Security researchers at Kaspersky Lab revealed at the Kaspersky Security Analyst Summit in Singapore that a dark net marketplace in which hackers are selling digital fingerprints has emerged. Operators of the marketplace sell the data to cybercriminals who use it for identity theft, online fraud, and other crimes.

Fraud 235

Fraud Security Operations System 235

PYMNTS

SEPTEMBER 11, 2019

Fraudsters have been increasingly focused on mobile services, with one-third of all fraud attacks worldwide reportedly targeting mobile during the first half of 2018 — a 24 percent year-over-year increase. Fighting Fraud Visibly and Invisibly. Facing Future Fraud. Partnering With Established Players.

Security 113

Security Fraud Mobile Cards 113

PYMNTS

JULY 16, 2019

This week’s news of a security flaw in the Android versions of WhatsApp and Telegram, first revealed by Symantec, marked the latest cybersecurity warning for users of high-profile technologies. Analysts warned that this security flaw could have particularly damaging effects when used to alter invoices and manipulate payment instructions. “In

Security 100

Security Fraud Mobile Payments 100

PYMNTS

APRIL 22, 2019

An increasing number of customers want to onboard with retailers and banks through their mobile phones, putting greater pressure on businesses to provide robust, digital know your customer (KYC) checks and other security measures. How DraftKings Keeps Fraud Out of Fantasy S ports. Around the Digital Consumer Onboarding World.

Fraud 143

Fraud Security Online Video 143

PYMNTS

MARCH 29, 2019

Unfortunately, smoothly and securely connecting employers and freelancers from around the globe is no easy task. Gig work marketplaces must tackle these concerns on top of meeting various governments’ security and compliance regulations – and do so quickly, or they’ll turn their user base away. . Global Security .

Security 101

Security Video Fraud Tools 101

PYMNTS

OCTOBER 21, 2019

His comments come after FT published documents last week allegedly provided by whistleblowers that “appear to indicate a concerted effort to fraudulently inflate sales and profits at Wirecard businesses in Dubai and Ireland, as well as to potentially mislead EY, Wirecard’s Tier 1 auditor.”. Wirecard denied the allegations.

Fraud 103

Fraud Operations Groups Report 103

Gonzobanker

MARCH 6, 2020

Addressing common loan and deposit operations process inefficiencies can help financial institutions deliver optimized value to customers and stockholders. In recent years, many financial institutions have been focused on improving their digital delivery capabilities, often at the expense of their operational groups.

Operations 93

Operations System Groups Technology 93

PYMNTS

SEPTEMBER 18, 2018

The federal agency said it shut down websites where consumers could buy “fake financial and other documents – such as pay stubs, income tax forms, and medical statements – which can be used to facilitate identity theft, tax fraud, and other crimes,” according to an FTC statement. Federal Trade Commission on Tuesday (Sept.

Taxes 134

Taxes Fraud Operations Security 134

PYMNTS

SEPTEMBER 19, 2019

As well, successful criminals know that their targets are often complex systems — and complex systems offer many opportunities for financial fraud and massive theft. Welcome to the world of advertising fraud. As PYMNTS research has documented , advertisers will lose a projected $5.8 Delayed Response.

Fraud 132

Fraud Payments Online Mobile 132

PYMNTS

JUNE 17, 2020

The military’s need for tracking its multi-part, expensive operations has only increased with the introduction of 3D printing, according to Coindesk. The goal of using blockchain is to hopefully cultivate a reliable source of information, documenting every data point necessary to keep track of the supply chain.

blockchain 132

blockchain Fraud Indiana Bitcoin 132

PYMNTS

APRIL 23, 2019

Sports and fantasy sports gambling operations are a big deal in the U.S., Many betting operations are tempting targets for fraudsters and other bad actors, however – especially online operations that do not require face-to-face customer interaction. with consumers betting more than $990 million in January alone.

Security 108

Security Puerto Rico Data Operations 108

PYMNTS

JUNE 10, 2020

This has increased the need for FIs to develop convenient mobile onboarding experiences, but those that lack confidence in their ability to secure such channels appear to be reluctant to offer them. They need to thoroughly vet new customers and comply with security obligations to prevent crime from proliferating. Tapping Mobile KYC .

Mobile 130

Mobile Security Examples Study 130

Abrigo

OCTOBER 15, 2020

Key Takeaways Economic relief payments are often subject to fraud – PPP is no exception. BSA Officers should be aware of PPP red flags to identify potential fraud. Economic relief payments are often subject to fraud, and the Paycheck Protection Program (PPP) is no exception. Other PPP Fraud Indicators.

Fraud 150

Fraud Lending Los Angeles Taxes 150

PYMNTS

JULY 13, 2020

. “Companies that formerly transacted primarily in person have been forced to embrace a digital-first approach to business operations. At Mitek, we are honored to partner with KYS-Tech to offer the most secure notary services available today.”

Online 142

Online Fraud Security Mobile 142

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. Jumio said the offering can reduce operational costs by as much as 90 percent, eliminate in-person visits and paper costs, and simplify archival processes.

Video 211

Video Report Meeting United States 211

PYMNTS

AUGUST 28, 2019

It’s hardly news that consumers (along with regulators and politicians) are becoming increasingly focused on privacy and online security. According to one estimate, “about 50 million internet-connected cars operate on U.S. And, as PYMNTS has documented , one of the main questions there is who is really responsible for IoT security.

Security 119

Security System Operations Report 119

PYMNTS

APRIL 15, 2019

Security solved. As it turns out, security researchers at Kaspersky Lab have found a darknet marketplace in which hackers are selling digital fingerprints. The marketplace operators sell the data to cybercriminals who use it for identity theft, online fraud and other crimes – and the data is worth anywhere from $5 to $200.

Fraud 129

Fraud Data Security Ohio 129

PYMNTS

OCTOBER 12, 2020

12) the company announced that it led a major offensive operation against one of the world's most notorious botnets. Burt's blog post also offered new insight, at least for lay readers, into the ways Trickbot has thwarted conventional approaches to computer security. Microsoft Corp. Lumen, ESET and FS-ISAC.

System 232

System Operations Security Technology 232

PYMNTS

SEPTEMBER 8, 2020

949 gigabytes of confidential data have been accessed by ransomware attackers targeting IT distributor Ma Labs , reports in CRN said, an attack that has stalled the company's operations and left its customers in limbo. 1 million was stolen from the City of Industry via invoice fraud, claims officials in the California city.

Company 174

Company Los Angeles Fraud Data 174

PYMNTS

OCTOBER 2, 2017

Aiming to protect users from hackers and political operatives, Google is gearing up to enhance its online security tools. The program will be offered to corporate executives, politicians and other individuals who have higher than average concerns about security.

Google 116

Google Tools Security Online 116

FICO

MARCH 1, 2022

Fiserv, a leading global provider of payments and financial services technology solutions, has developed a new fraud mitigation service that has reduced fraud losses, which were already low by industry standards, by 10 to 15% for its small to midsize credit union and bank clients. Keeping Up With The Fraudsters.

Fraud 52

Fraud Analytics Cards Tools 52

PYMNTS

JANUARY 19, 2021

The larger issue is remote onboarding becoming the dominant form of account creation, and how to secure a world where in-person meetings are out, and documents can be faked. Digital identity is anticipated to generate $8 billion for mobile network operators by 2025, up from $1.3 billion in 2020 alone.”.

Fraud 151

Fraud Survey Video Mobile 151

PYMNTS

JUNE 8, 2020

The Securities & Exchange Commission ( SEC ) has moved to freeze the assets of a $12 million cryptocurrency mining and multi-level marketing (MLM) scheme, Coindesk reports. In Hong Kong, 39 percent of new FinTech firms launched in the last year are now operating via blockchain, Cointelgraph reported.

blockchain 131

blockchain Analytics Utah cryptocurrency 131

PYMNTS

JULY 19, 2020

Wirecard AG’s accounting firm said an independent report failed to account for half of the German payment company’s revenue and all its operating profit, the Financial Times (FT) reported. . According to our view, the topic of third-party acquiring needs to be put in an overall context,” they wrote, according to a document seen by FT. .

Report 154

Report Fraud Operations Payments 154

PYMNTS

MAY 10, 2016

But Tungsten Head of Compliance Lucy Ashdown offered her take on the company’s research to discuss why FinServ firms might be seeing more invoice fraud than other industries. officials to combat fraud, Ashdown also discussed who carries the torch of responsibility when it comes to fighting this kind of security lapse in the enterprise.

Fraud 100

Fraud Compliance Security Industry 100

PYMNTS

AUGUST 10, 2020

Identity fraud is nothing to play around with, but you wouldn’t know that given its prevalence in the online gaming sector. With this kind of digital nastiness afoot, game platforms and their payments and technology partners are beefing up security in the space, keeping winners and losers on-screen only. Security Is All Fun and Games.

Fraud 142

Fraud Online Security System 142

PYMNTS

SEPTEMBER 6, 2018

6), the Justice Department has opened an investigation into possible fraud committed at the company’s wholesale banking unit. The alleged document mishandling occurred late last year and into early 2018, said WSJ. As The Wall Street Journal reported on Thursday (Sept.

Fraud 102

Fraud Operations Security Groups 102

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. System integration provider NEC XON is also looking into biometric KYC for mobile network operators and financial institutions (FIs). How Zillow Co mbats Real Estate Fraud.

Video 161

Video Fraud Compliance Security 161

PYMNTS

JANUARY 30, 2018

In corporate finance, the tool could upend the status quo of supply chain management, cross-border payments, invoicing and document sharing and more. Because so many developers are deploying blockchain for the purpose of enhanced security, the executive added, “ensuring the technology is glitch-free is critical.”.

blockchain 144

blockchain Security Software Tools 144

Abrigo

MAY 15, 2020

Key Takeaways Like other federal relief programs, the PPP has become subject to fraud. The first federal charges of PPP loan fraud have been made – and they're unlikely to be the last. From 9/11 to Hurricane Sandy, and now, during COVID-19, federal relief funds aimed to help people rebuild after a disaster becomes subject to fraud.

Lending 195

Lending Rhode Island Fraud Los Angeles 195