PYMNTS

JANUARY 13, 2021

Experts predicted that up to $190 billion would be spent online this year, a 35.8 The prevalence of online commerce opens new doors for digital fraud, however, both from career fraudsters and opportunistic customers. Phishing scams were on the rise all year, while a survey of online shoppers found that 40.3

Fraud 189

Fraud Analytics Data Retail 189

PYMNTS

NOVEMBER 18, 2020

It can also serve as a powerful tool in restaurants’ fight against fraud, which is becoming an increasingly prevalent issue as bad actors target the flood of customers using digital channels during the COVID-19 pandemic. Payment protection platform Verifi has partnered with digital fraud protection firm Kount Inc.

Boston 186

Boston Fraud Marketing Mobile 186

PYMNTS

AUGUST 21, 2020

This popularity is not expected to decline once the virus wanes, with the number of online and mobile banking users expected to hit at least 3.6 ATMs are common avenues for fraud, however, especially those that are running outdated software. For more on these and other digital-first banking news items, download this month’s Tracker.

Analytics 266

Analytics Fraud ATM Report 266

PYMNTS

OCTOBER 14, 2020

Consumers around the globe appear to support these integrations with a recent report finding that 71 percent of QSR customers are in favor of their favorite eateries incorporating AI into their business operations. Some players in the food service industry are tapping advanced technologies to improve and streamline their ordering operations.

Analytics 161

Analytics Fraud Data Mobile 161

PYMNTS

MARCH 11, 2020

The Reserve Bank of India recently released guidelines outlining an approved method that private companies could use for conducting KYC checks online by using videos. FIs in the United Arab Emirates are also looking to get ahead of fraud with improved digital KYC practices. Download the Tracker to read the Feature Story.

Fraud 150

Fraud Payments Guidelines Regulation 150

PYMNTS

JANUARY 23, 2020

The January AML/KYC Tracker examines 5AMLD’s significance, as well as other efforts to thwart the fraud attempts challenging the financial sector. To find out more about these and all the latest headlines, download the Tracker. Worldpay On Modernizing Security To Foil eCommerce Fraud. Around The AML/KYC World. About The Tracker.

Fraud 157

Fraud Security Regulation cryptocurrency 157

PYMNTS

JUNE 17, 2019

However, digital platforms face a major barrier in delivering these experiences: poor fraud detection. For digital platforms, fraud represents a two-headed beast. As largely online operations, they are tempting targets for fraudsters and hackers — therefore, robust anti-fraud systems are vital. About the Playbook.

Fraud 117

Fraud How To Payments Survey 117

Abrigo

JANUARY 3, 2024

Download now Takeaway 1 Financial institutions should understand FinCEN typologies and red flags to assist in suspicious activity monitoring around drug trafficking. Such drug operations require significant sums of money to maintain. Know the red flags to watch for. financial system. million encounters occurred in 2022, up from 1.7

United States 221

United States San Antonio Training Fraud 221

PYMNTS

OCTOBER 3, 2016

No one is immune from digital fraud. Even the arena of sports is becoming increasingly more digital as fans move away from coming to the box office to buy tickets and towards being able to just download an app and purchase tickets digitally. There’s always a fraudster waiting in the wings to spoil the party.

Fraud 192

Fraud San Jose Mobile Security 192

PYMNTS

DECEMBER 28, 2020

The pandemic has cost more than 300,000 lives in the United States alone, and it has also challenged many institutions — such as credit unions (CUs) — that were never designed to operate on a primarily remote basis. To get the full story, download the Tracker. It also offers participating CUs customized consulting services.

North Carolina 197

North Carolina Houston Fraud Innovation 197

PYMNTS

JUNE 19, 2020

Merchants looking to expand their operations at home and abroad must be able to support their customers’ preferred payment methods, but doing so is no easy feat. The COVID-19 pandemic is driving consumers online to shop and pay, and their rapidly changing shopping habits are forcing merchants to rethink their digital strategies.

Payments 188

Payments Compliance Resources Fraud 188

PYMNTS

FEBRUARY 20, 2018

When most people hear about online fraud, they tend to think about what Noa Kalechstain, Riskified ’s head of chargeback recovery, calls “classic fraud,” she explained in a recent conversation with PYMNTS. It has attained the status of “classic” because fraud using stolen financials is the most prevalent type.

Fraud 112

Fraud Cards social media System 112

PYMNTS

JANUARY 8, 2019

While the holiday retail rush meant big gains for some retailers, it also came with an influx of fraud, both in-store and online, as fraudsters took advantage of a high-pace, high-volume period of transactions. In fact, over 5 percent of online retail revenue is now lost to fraud. Around The Digital Fraud World.

Fraud 166

Fraud Retail Security Branding 166

PYMNTS

SEPTEMBER 14, 2016

ACI Worldwide advises that, as the world moves toward immediate payment ecosystems, a holistic view of the transaction, with layered controls from origination to the application of real-time rules, is the only way to push the pedal to the metal on faster payments and put the brakes on fraud. million in 2007 to £52.5 million in 2007 to £52.5

Fraud 100

Fraud Payments Customer Experience Exercises 100

PYMNTS

FEBRUARY 24, 2020

But even restaurants that are leveraging mobile ordering are being faced with more avenues for fraud to enter. Many expansions like these, however, are halted by the encroaching possibility of fraud. For more on these and other mobile order-ahead news items, download the Tracker. Mobile Order-Ahead Developments.

Data 214

Data Fraud Mobile Florida 214

PYMNTS

OCTOBER 2, 2020

With more consumers than ever going online to shop and pay, merchants are building and expanding their digital capabilities to meet this demand for digital commerce. Credit and debit card fraud increased in April 2019 and April 2020, in fact, as fraudsters take advantage of the crisis for personal gain.

Compliance 243

Compliance Data Report Meeting 243

Abrigo

JANUARY 31, 2023

Takeaway 2 Banks should be proactive in understanding fraud trends and FinCEN priorities to prepare for future rulemaking. Increased fraud According to the Federal Trade Commission , consumers lost more than $5.8 billion to fraud in 2021, a 70% increase over the prior year. That represents nearly 2.8 This checklist can help.

Fraud 195

Fraud Training Regulation Trends 195

PYMNTS

JUNE 3, 2020

It now operates in 18 countries in Latin America. One difference is the use of debit cards online. For example, in Brazil, it’s very hard to use debit cards online, as most issuers don’t let consumers perform online credit card transactions. Thus, fighting fraud is one of Gimenez’s priorities. “In

America 248

America Regional Fraud Mobile 248

PYMNTS

FEBRUARY 19, 2020

Corporate buyers can pay more rapidly online with credit cards, benefitting sellers, and enjoy easy access to detailed, searchable information to guide their purchasing decisions. Some online sellers eschew online marketplaces in favor of more tailored digital sales experiences, turning to eCommerce system providers for help.

Mobile 197

Mobile Online Payments Tools 197

PYMNTS

JANUARY 22, 2019

Maybe one day, quick-service restaurant ( QSR ) operators will look back upon 2019 as their cramming experience when it comes to digital security and fraud prevention. In fact, missteps in digital fraud prevention can, as Stuppy said, “put the entire digital investment at risk.” Fraud Prevention Optimism. Heck, yeah!”.

How To 144

How To Fraud Online Mobile 144

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.

Video 161

Video Fraud Compliance Security 161

FICO

MAY 2, 2019

Fraud and data breaches have always had a close, if destructive, relationship. As the US transitioned to hard-to-counterfeit EMV payment card technology several years ago, criminals flocked to card not present (CNP) fraud , often combining identity fragments and card numbers stolen in breaches to make illicit purchases online.

Fraud 70

Fraud Data Cyber Security Risk Management 70

PYMNTS

JULY 16, 2020

High transaction success rates can indicate an efficient payments operation, but keeping them high is no easy feat. This risk is even greater now that the pandemic has upended normal shopping behaviors, driving an increasing number of consumers online to shop and pay, with retailers having experienced a 14.8

Mobile 181

Mobile Payments System Bitcoin 181

PYMNTS

APRIL 9, 2020

million ransom to get their systems back online, The Wall Street Journal reported. The hacking group, also known as REvil, told the BBC that they gained access to the company’s computer network last year and downloaded 5GB of sensitive customer data. Then another seven days and the sale of the entire base.”

Report 279

Report Groups Data Cards 279

PYMNTS

JULY 12, 2020

Dunzo has launched an internal investigation, the online news service reported. The company operates in Bengaluru, Delhi, Gurugram, Pune, Chennai, Jaipur, Mumbai and Hyderabad, Money Control reported. The service can be used through Google Pay without the need to download another app.

Google 200

Google Data Security Course 200

PYMNTS

JANUARY 22, 2019

Maybe one day, quick-service restaurant ( QSR ) operators will look back upon 2019 as their cramming experience when it comes to digital security and fraud prevention. In fact, missteps in digital fraud prevention can, as Stuppy said, “put the entire digital investment at risk.” Fraud Prevention Optimism. Heck, yeah!”.

How To 108

How To Fraud Mobile Online 108

PYMNTS

MAY 22, 2020

Having responsive service may become even more important in the months and years ahead as consumers increasingly turn to their cards to shop online and seek to avoid using cash. Billing issues and payments is the most common reason, cited by 29 percent of cardholders, followed by fraud and data security, cited by 23.8

Cards 216

Cards Data Millennials Report 216

PYMNTS

OCTOBER 25, 2019

These debates are nothing compared to the looming specter of fraud, however. In the October Mobile Order-Ahead Tracker , PYMNTS explores the latest developments in the world of digital ordering, including the growing popularity of virtual restaurants and how QSRs are protecting themselves against friendly fraud. About the Tracker.

Trends 116

Trends Mobile Fraud Google 116

PYMNTS

MAY 28, 2019

With abundant choices in many aspects of their lives, consumers expect a range of options when it comes to online shopping, ranging from picking out clothes to making travel plans. million buyers who operate in industries such as website development, logo design and blog writing. By 2021, close to 90 million – or 86.5 billion in 2017.

Apple 159

Apple Mobile Fraud Branding 159

PYMNTS

FEBRUARY 28, 2019

Platforms need to pay careful attention to fraud across dozens of markets, meaning the ability to detect and manage fraud will only become more crucial as the sharing economy grows. To read the Case Study, download the Playbook. Read these and the rest of the latest headlines in the Tracker. About the Playbook.

Payments 183

Payments User Experience Training Case Study 183

PYMNTS

AUGUST 18, 2017

Between account takeovers, business logic abuse, loyalty and reward points fraud and other cybersecurity attack methods, companies are not only suffering financial damages but brand image damages too. Here are a few of the top things every eTailer should know about fraud in 2017. Card Not Present Fraud Is A Big Threat.

Security 131

Security Fraud Analytics Tools 131

PYMNTS

DECEMBER 22, 2020

According to Reuters , around 10% of Italy’s adults, or at least 5 million consumers, have enrolled in the pilot program, which involves registering online and downloading an app. By offering the incentive, they hope to cut down on black market deals and fraud, according to The Financial Times. The program, which began on Dec.

Cards 188

Cards Payments Taxes Study 188

PYMNTS

NOVEMBER 5, 2019

Digital identities are gaining popularity across industries as businesses, services and other operations increasingly move online. Synthetic identity fraud continues to grow, but far slower than when it ran rampant in 2015 and 2016. For more on these and other digital identity news items, download this month’s Tracker.

Data 101

Data Fraud Security Trends 101

PYMNTS

MAY 23, 2018

A February 2018 study from the Federal Reserve Bank of Minneapolis found that 75 percent of American financial institutions incurred losses due to fraud last year. The company recently released its online and physical dynamic probability scoring technology, which claims 99.99 DPAs Prepare for Looming GDPR Deadline . contact-form-7].

Trends 125

Trends Strategy Minneapolis Fraud 125

PYMNTS

FEBRUARY 27, 2019

The app allegedly violated the Children’s Online Privacy Protection Act (COPPA), which requires that companies get parental permission before collecting data from children under the age of 13. Since 2014, 200 million users downloaded the app, with 65 million accounts in the United States alone.

Data 134

Data Video United States Operations 134

PYMNTS

AUGUST 24, 2018

Online payment platforms have no doubt changed how worldwide consumers do business. Fighting Fraud. Recent research found that identity theft and fraud are the most common techniques used to target sharing economy service providers, especially following a data breach. Approximately 31.7 They can also cost them their reputations.

Payments 109

Payments Fraud Security Tools 109

PYMNTS

JUNE 26, 2020

Online account openings increased by more than 200 percent in April, while all mobile banking traffic rose by 85 percent. One FI experiencing significant digital banking growth is Citibank , which recently noted that its customers’ use of online options skyrocketed in the first quarter of 2020.

Digital Banking 220

Digital Banking Guidelines Trends Online 220