PYMNTS

SEPTEMBER 21, 2020

Artificial intelligence (AI) can improve the eCommerce experience – not just in terms of warding off fraud, but also in making sure payments can be processed efficiently and that the most effective payment gateways are accessed. And consumers want to pay with their preferred methods, across cards or digital wallets. This is where AI comes in.

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PYMNTS

DECEMBER 26, 2019

Online firms and their banking partners have both the means and motives to stop fraudsters from accessing personal information, but today’s connected economy encompasses markets and customer service channels around the world. Digital fraud rose 30 percent in Q3 2019, with one out of every five new accounts revealed to be illegitimate.

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PYMNTS

NOVEMBER 10, 2020

PSCU , which is billed as the nation's premier credit union service organization (CUSO), has announced its new Enhanced Fraud Services system, which the company said “has helped 10 early adopter credit unions combat fraud of all types, ranging from first-party chargeback fraud to identifying card information being sold on the dark web.”.

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PYMNTS

JANUARY 21, 2021

Merchants, card issuers and banks are no strangers to facing off against evolving fraud threats. Debit-related fraud is a particular concern for businesses and banks as failing to thwart such schemes could have significant and costly consequences. Debit And The Fraud Catch . A PYMNTS study on U.S.

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Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? For example, in the pharmaceutical industry, manufacturers can use regtech to ensure that marketing complies with FDA requirements. For example, launching a new lending program is a great opportunity to explore a new know-your-customer platform.

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Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? For example, in the pharmaceutical industry, manufacturers can use regtech to ensure that marketing complies with FDA requirements. For example, launching a new lending program is a great opportunity to explore a new know-your-customer platform.

Technology 195

Technology Fraud Compliance Regulation 195

PYMNTS

SEPTEMBER 19, 2019

Merchants and FIs have been turning to such solutions to help customers quickly and securely transact. The following Deep Dive examines how AI technology is being deployed on the anti-fraud front lines. . The following Deep Dive examines how AI technology is being deployed on the anti-fraud front lines. .

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PYMNTS

DECEMBER 19, 2019

Yet, each of these strategies to modernization is a double-edged sword, exposing a bank — and, thus, its partners and customers — to a new breed of fraud risks. As the Tracker revealed, though, this journey comes with security concerns that add a new level of complexity to banks’ digitization journeys. In the U.K.,

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PYMNTS

JUNE 5, 2020

Such solutions can “empower people to control their financial well-being,” Andrew Davies, vice president of global market strategy and financial crime risk management at financial services technology company Fiserv , told PYMNTS in a recent interview. The federal entity is charged with monitoring the U.S.

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PYMNTS

MARCH 12, 2020

Payment processors expanding their operations into new industries and markets have their work cut out for them, however. Each sector and country encounters different fraud types that providers must be ready to detect and thwart. Buy online, pickup in store (BOPIS) purchasing is one example. Understanding The Merchant Sector.

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PYMNTS

JULY 24, 2019

In the latest Digital Fraud Tracker , PYMNTS examines how fraudsters are utilizing mobile and app-based channels for fraud attacks, as well as why fraudsters are still relying on phishing as a major fraud strategy even as they increase their use of new technologies and techniques. Around the Digital Fraud World.

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PYMNTS

OCTOBER 14, 2020

Mom-focused eCommerce site Zulily , which offers clothing, toys, footwear and home goods, puts a friction point at the beginning of the customer relationship that the brand believes can help with both marketing and security. Fighting fraud . Shoppers will not flock to sites solely on the merits of eTailers’ security, however.

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PYMNTS

MARCH 2, 2020

Instead, she noted, an estimated $240 billion is going out the door to fraud, waste and abuse (FWA). We securely store over 18 petabytes of sensitive data — this is a significant amount of data that we’re dealing with every day,” she said. “And And we detect and defeat over 200 attacks on our network every minute of every day.

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PYMNTS

MAY 20, 2020

False positives are the bane of fraud fighters everywhere, as they penalize legitimate customers due to the behavior of bad actors illicitly armed with credentials, card numbers and accounts. Sixty-two percent of QSR customers are concerned about fraud when interacting with QSR apps, according to a recent study.

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PYMNTS

JANUARY 24, 2019

Here’s a test: What’s fraud? Those questions also speak to the seemingly impossible tension in the world of payments and new card accounts: how to onboard and authenticate consumers as quickly and seamlessly as possible, while also protecting them and the institution from fraud. Fraud Getting Worse.

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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.

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PYMNTS

SEPTEMBER 9, 2020

Almost 65 percent of FIs said in a recent survey that their customers are now making more CNP payments, for example. How Music Retailers Can Harmonize Security And Seamlessness. Deep Dive: Keeping Security Present Even When Cards Are N ot. Find out more about these stories and other headlines, read the Tracker’s News and Trends.

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PYMNTS

NOVEMBER 26, 2020

Social Security Administration, for example, requires recipients using its website to provide unique eight-digit codes sent via text to their smartphones in addition to their usernames and passwords when they sign up or log in. . It also outlines some of the frictions entities face when doing so. .

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PYMNTS

OCTOBER 19, 2018

They are able to use cutting-edge technology, black-market websites and top-level, nimble and well-secured global networks to work their craft. At the least, it won’t get any better — not according to any anti-fraud expert who is worth their rate. million fraud crimes in 2017, Trilli said, and $22.1 In the U.S.,

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Fraud Online social media Software 189

PYMNTS

OCTOBER 24, 2019

It’s a sense one easily gets when listening to Rahul Pangam, co-founder and CEO of fraud detection services firm Simility , in a discussion with Karen Webster from PYMNTS. Fraud Growth. One recent and significant example comes from Brazil, one of the most populous countries on the planet. Making Connections.

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PYMNTS

DECEMBER 6, 2018

Such a scenario stands as a terrifying example of not only the sophistication of criminals, but also the threat of fraud in a real-time payments environment. Ron Plesco, principal of Cyber Security, and Bob Ruark, principal of Banking and Financial Services Strategy and KPMG’s FinTech leader in the U.S. The antidote?

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PYMNTS

AUGUST 18, 2017

Retailers are retailers, not security experts. Too often, their best efforts can create friction at the point of sale for consumers, which leads to shopping cart abandonment and lost revenue, all while feeding the illusion of “too much security.”. There’s never ‘too much’ security,” Grant said.

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Perficient

FEBRUARY 22, 2023

AI is increasingly being used to automate a variety of tasks in financial services institutions, including customer service, fraud detection, and loan applications. Blockchain technology is being used to create secure, decentralized ledger systems that can store and transfer data in a transparent and secure manner.

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PYMNTS

JUNE 14, 2018

The Securities and Exchange Commission’s (SEC) leading authority on bitcoin, cryptocurrency and initial coin offerings (ICOs) has ruled that some well-known cryptocurrencies like bitcoin and Ethereum are not securities. As such, they can expect to come under the regulatory control of the SEC and relevant securities laws.

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PYMNTS

APRIL 22, 2020

Banks are jostling for space in the market because an expanding number of FinTechs and large-scale technology companies are competing for the same set of consumers. Banks must enable fast and seamless onboarding experiences, but these processes should also be secure.

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PYMNTS

FEBRUARY 19, 2019

One day — maybe one that has already happened for some PYMNTS readers — we might look back with fondness and nostalgia on that time when chargebacks stood as the main worry merchants and other organizations faced when it came to fraud and risk. That’s where Kevin Lee comes in. Changing Scope. The stakes could hardly be higher.

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PYMNTS

MARCH 28, 2018

billion due to fraud in 2016, and a significant portion of that stems from chargeback fraud. According to LexisNexis , chargeback fraud accounts for 28 percent of all fraud that occurs at an eCommerce company, tied for first place with “ friendly fraud.” Compromise Security For Customer Experience.

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PYMNTS

AUGUST 26, 2019

The phenomenon of payments fraud is not a modern one — far from it. But as RL Prasad, SVP of payment system risk at Visa , told Karen Webster in a recent conversation, what is new today is the who and the how of fraud, particularly in a digital world. Enumeration attacks, he noted are a good example of this.

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PYMNTS

OCTOBER 29, 2018

The payment and commerce opportunities of such technology is obvious, and the wearables market is helping to guide the way toward the potential (likely?) But those gains come with fresh concerns about digital security. Security Vulnerabilities. The main areas of security risk? The main areas of security risk?

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PYMNTS

SEPTEMBER 19, 2019

billion customer records — occurred in the first six months of 2019, for example. This has become a larger problem for FIs as they must not only deal with protecting customers from fraud, but also guard against bad actors armed with 4.1 AI, ML Innovations Necessary to Stop Account Opening Fraud. billion stolen credentials.

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PYMNTS

JULY 10, 2019

These platforms promise fast, seamless transactions, which most deliver – but when platforms focus on reducing friction for users, it can backfire and create new vulnerabilities to fraud. An unexpected consequence of the retailer race to offer same-day and one-day delivery is increased fraud exposure. Nearly one-third (30.4

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Fraud Strategy Study Comparison 140

PYMNTS

OCTOBER 5, 2020

“We’ve seen the acceleration [away from manual, paper-based back-office functions] due to employees working from home” and issues tied to security and battling potential fraud, Joiner said. We’re seeing increased costs to have security around the printing of checks, and what I’ll call ‘the old ways,’” said Joiner.

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PYMNTS

OCTOBER 3, 2016

No one is immune from digital fraud. It’s not just about how they interact with customers, but other factors, such as supply chain, servicing and supporting customers post-sale, communicating with the markets, etc., There’s always a fraudster waiting in the wings to spoil the party. Including professional sports.

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PYMNTS

DECEMBER 14, 2020

At a time when our nation’s secrets at the NSA and Homeland Security and assets at the Department of the Treasury were able to be illicitly tapped into by foreign hackers, the security and reliability of countless other online industries and enterprises have also been brought into question.

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Google Security Washington Risk Management 192

PYMNTS

JANUARY 18, 2021

With a second Paycheck Protection Program (PPP) on the way, small businesses have yet another chance to secure much-needed financial relief. government's inability to curb the risk of fraud that emerged during the first round of PPP funding. Homeland Security investigators. Homeland Security investigators.

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PYMNTS

JANUARY 17, 2020

The subscription eCommerce market is a favorite among consumers and businesses, growing more than 100 percent annually for the past five years. This increasingly sophisticated group poses a growing and costly headache to those who value the model, forcing businesses to spend billions on fraud-fighting technologies. trillion a year.

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PYMNTS

OCTOBER 14, 2019

Money laundering and similar forms of fraud have become more concerning for FIs as reports of cybercrime circulate globally. Part of the problem is that money laundering controls are easier for fraudsters to anticipate than security measures for other cybercrimes. security standards from those in markets like Europe.

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