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.

Fraud 234

Fraud Industry Idaho Customer Experience 234

PYMNTS

NOVEMBER 10, 2020

Phixius provides interoperability between various participants connecting to the platform, enabling better security in moving data as opposed to storing it in a central repository like the cloud. Phixius' technology is said to help boost fraud protection, automate manual processes and deliver better customer experiences.

Security 181

Security Fraud Customer Experience blockchain 181

PYMNTS

JANUARY 13, 2020

Ten percent of business email domains are protected from spoofing , according to recent Security Boulevard reports. 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.

Fraud 223

Fraud Kentucky Colorado Payments 223

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

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

Independent Banker

AUGUST 31, 2022

ICBA’s Bank Security Institute offers critical incident response strategies to keep your physical branch location safe. And as banking processes increasingly moved online, community bankers needed to fortify their online defenses against fraud and cybercrime. In August, ICBA hosted the Bank Security Institute. Tiffany Lukk.

Community 91

Community Security Community Bank Fraud 91

PYMNTS

MAY 18, 2018

But the move towards bits and bytes is gathering steam in a bid to bring security to far flung transactions. Through remote notarization (and through Notarize, she added), parties to a transaction can save time and reduce fraud. Documents are digitally signed by the notary using a special x.509

Indiana 133

Indiana Nevada Tennessee Texas 133

PYMNTS

DECEMBER 21, 2020

with money laundering, fraudulent banking and computer fraud, Reuters reported. “It It is not yet clear whether he participated actively in the theft or if he simply decided not to increase security measures after discovering it,” Ivano Gabrielli, director of the national center for cyber crimes (CNAIPIC), told Reuters. Meanwhile, U.K.

blockchain 206

blockchain Bitcoin Fraud Report 206

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

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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. Fraudsters and the Access Problem. The Technology Barrier .

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Fraud Tools Security Examples 136

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 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.

Fraud 274

Fraud Management Risk Management Company 274

PYMNTS

JUNE 24, 2020

In an interview with Karen Webster, Entersekt CEO Schalk Nolte said that in a world forever transformed by the pandemic, digitally established global identities and trusted endpoints are critical means of achieving genuine account security. CNP fraud, Nolte said, has become a numbers game.

Fraud 262

Fraud Security Cards Course 262

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

OCTOBER 9, 2020

million in federal Paycheck Protection Plan (PPP) funds, which are backed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief and Economic Security (CARES) Act. 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.

Texas 142

Texas Fraud Dallas Taxes 142

PYMNTS

OCTOBER 29, 2018

These initiatives could also lead to an increase in security risks, since sharing data among a range of financial service providers creates new opportunities for it to fall into the wrong hands. New open banking tools mean new types of financial transactions, which could make fighting digital fraud even more difficult for banks.

Security 192

Security Fraud Tools Data 192

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.

Fraud 154

Fraud Minnesota United States New York 154

PYMNTS

AUGUST 16, 2019

Capital One employees raised red flags over security risks before the company suffered a massive data breach. Seattle-based Thompson was charged with one count of computer fraud and abuse following her arrest on July 30. The documents said Thompson accessed the data through a “misconfiguration” of a firewall on a web application.

Security 168

Security Seattle Capital United States 168

PYMNTS

MAY 2, 2019

Representatives from a number of countries around the world – excluding Russia, China and representatives from technology giant Huawei – met to discuss the security of 5G networks as many countries prepare for deployment of the technology, according to a report by Reuters.

Meeting 171

Meeting Security Cyber Security Technology 171

PYMNTS

JUNE 5, 2020

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. The need to secure open banking has only grown as financial criminals have stepped up to exploit disruptions caused by the COVID-19 pandemic, he added. How To Quickly Fight KYC Fraud.

Security 174

Security Fintech Data Fraud 174

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

JANUARY 22, 2021

As with any payment method, fraud attacks and human errors can upend customer experiences unless companies have strong security strategies in place. Alvarez explained in a recent PYMNTS interview how effectively securing real-time transactions requires thorough contingency planning and advanced customer verification methods.

Security 141

Security Fraud Tools Customer Experience 141

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.

Fraud 123

Fraud Las Vegas cryptocurrency United States 123

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

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

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

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

DECEMBER 13, 2019

The inclination of younger cohorts to plan like mad and (over)spend on getaways is well-documented. Platforms are doubling down on security in the wake of embarrassing data breaches and steady consumer fraud complaints, but it’s a fluid situation. This is perhaps most prevalent in the travel space.

Fraud 130

Fraud Millennials Comparison Online 130

PYMNTS

SEPTEMBER 6, 2019

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. percent of those asked to present physical identification documents in person at brick-and-mortar locations.

Security 125

Security Data Online Regulation 125

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

SEPTEMBER 21, 2018

To that end, the the Internet Crime Complaint Center (IC3), a hub to bring complaints to the Federal Bureau of Investigation (FBI), is eyeing payroll fraud. The methods those bad actors use — and which have been documented in this space — include phishing attempts to gain access to individuals’ credentials. The deposits?

Fraud 141

Fraud Cards Report Mobile 141

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

Perficient

OCTOBER 12, 2020

Specializing in cloud-based business transformation, Perficient’s new Treasury Technology practice will improve client’s global banking footprints through bank connectivity and address concerns for payment fraud. Payment fraud is now a high-priority concern. Bank connectivity is one of the most complicated aspects of an ERP project.

Risk Management 309

Risk Management Fraud Management Compliance 309

PYMNTS

JANUARY 4, 2019

It’s no surprise that payments fraud is on the rise. Juniper Research , for example, has estimated that retailers will lose as much as $130 billion in card-not-present (CNP) fraud through 2023 — as tech gets more complex and transactions are done across borders. Then again, the fraud may be a bit more low-tech and on-site.

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Fraud North Carolina Payments Minneapolis 158

PYMNTS

SEPTEMBER 25, 2019

And it may be the case that in the tradeoff between convenience and security, companies would do well to start looking harder into whether identity verification efforts need to be stepped up a bit, even if that means injecting friction into the equation. But raising the bar higher for fraudsters can be an effective line of defense.

How To 189

How To Security Fraud Mobile 189

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

Perficient

FEBRUARY 29, 2024

To address this, institutions are increasingly turning to technology-driven solutions aimed at enhancing service reliability, compliance, and security. The solution automated content-centric workflows for loan documentation review, loan operations, quality assurance, ​ and closed loan processing. ​ ​ ​ 5.

Trends 221

Trends Industry Analytics Compliance 221