PYMNTS

SEPTEMBER 21, 2020

Consumers are using mobile apps’ order-ahead features and loyalty perks more often during the COVID-19 pandemic, yet chargeback fraud — also known as friendly fraud — is unfortunately also rising. A Proactive Approach To Friendly Fraud. Friendly fraud often develops around online promotions at restaurants.

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Fraud Mobile social media Customer Experience 177

PYMNTS

APRIL 10, 2019

authorities announced that they have charged a number of individuals in connection with one of the biggest healthcare frauds ever prosecuted in the nation. The fraud, which resulted in more than $1.2 Medicare’s anti-fraud unit announced that it took adverse administrative action against 130 DME companies that submitted over $1.7

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PYMNTS

JULY 3, 2020

FIs confronting this new reality have worked hard to redesign their fraud-fighting approaches to suit the new commercial landscape. . ML is another powerful tool that can help FIs ensure their fraud-fighting models quickly adapt as consumers’ behaviors change, he stated. Defending Agains Fraud During Periods Of Reopening .

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Fraud Cards Tools Florida 180

PYMNTS

SEPTEMBER 30, 2020

Securities and Exchange Commission (SEC) claims that a Florida digital currency trader purportedly bilked customers out of $6.8 million, CoinDesk reported. The agency claimed that the defendant scammed investors between January 2018 and January 2019 as he purported to never finish a trading day with losses.

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Florida Lending blockchain National 151

PYMNTS

NOVEMBER 16, 2020

Such security methods can be critical to preventing fraud that targets mobile users, of which one of the most prevalent types is SIM swap fraud. Preventing SIM swap fraud requires vigilance and ironclad authentication methods to ensure that users who are asking to transfer their phone numbers are legitimate rather than scammers.

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Fraud US Mobile Las Vegas 178

PYMNTS

APRIL 23, 2020

The health insurance market is even more vulnerable: Up to $68 billion is lost to health insurance fraud each year. Fraud doesn’t just hurt insurance companies, however, as the losses are largely passed on to legitimate customers in the form of increased premiums. Types of Insurance Fraud. How AI Can Limit Insurance Fraud.

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Fraud Company System Knowledge Base 151

PYMNTS

JULY 2, 2020

How FIs Adapt Fraud Detection During Times of Behavioral Upheaval. That massive shift in spending activity is rendering 90-day profiles obsolete, and FIs have had to respond, said Carlos Mejia, chief digital executive at Florida-based Pacific National Bank. Find more about these and the rest of the latest headlines in the Tracker.

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Fraud Cards Florida Trends 222

PYMNTS

MARCH 3, 2020

The couple are basing their case on a unanimous decision by the Supreme Court in 2017 that curbed the SEC’s ability to seek profits from fraud before charges are filed by authorities. In 2019, the SEC told a Florida federal judge to compel alleged Ponzi scheme defendants to give back $892 million in profits.

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PYMNTS

MARCH 3, 2020

The couple are basing their case on a unanimous decision by the Supreme Court in 2017 that curbed the SEC’s ability to seek profits from fraud before charges are filed by authorities. In 2019, the SEC told a Florida federal judge to compel alleged Ponzi scheme defendants to give back $892 million in profits.

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Fraud Florida California Security 130

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. Much of the money they received (about $1.2

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Fraud Las Vegas cryptocurrency United States 123

PYMNTS

NOVEMBER 2, 2018

1) that a probe by international auditors is underway, examining a fraud that could be $200 million in scope at Aegean Marine Petroleum Network , tied to shell companies that ostensibly did business with the shipping fuel firm. News came Thursday (Nov. The Email Scam Lures More Victims. A Bit Of Victory. Procards Get Auditor’s Scrutiny.

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Fraud Company Massachusetts United States 168

PYMNTS

JANUARY 12, 2021

And in Florida, state and local officials in 18 counties last month broke up a ring that allegedly stole nearly $85,000 of easy-to-resell items like baby formula, diapers, and energy drinks from Publix, Winn Dixie, and Walmart — typically taking $350 to $900 worth of goods at a time. A Growing Problem. Matas sees the current wave of U.S.

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FICO

JULY 6, 2023

Beyond the pleasure of leading a FICO Falcon Fraud Manager User Forum and moderating a couple of panel breakout sessions, I I was also able to catch up with many of the fraud-focused attendees from around the world. Scams: A Top Fraud Concern Scams are becoming a leading fraud concern, all around the world.

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Fraud Management Customer Experience San Diego 52

PYMNTS

OCTOBER 3, 2016

In 2010, Westernbank Puerto Rico, the country’s second-largest commercial bank, took a loss of more than $140 million on loans to a Florida businessman, 53-year-old Jack Kachkar, which contributed to its failure, according to the FDIC’s inspector general. Kachkar used his pharmaceutical company, Inyx Inc., million Miami Beach home.

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Puerto Rico Fraud Miami Florida 133

PYMNTS

JUNE 21, 2019

Fraud knows no boundaries. Aside from the political implications of such claims, The New Yorker ‘s report pointed to the fraud risks that organizations face, even from the C-Suite. It also highlighted the predicament that organizations face if a C-Suite executive is found committing fraud. In the U.S.,

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Fraud Baltimore cryptocurrency Maryland 108

PYMNTS

JULY 27, 2016

Credit card fraud complaints in the U.S. ValuePenguin analyzed data collected by the Consumer Financial Protection Bureau and found that there were approximately 70,000 credit card fraud complaints submitted in 2015. At the state level, the number of credit card fraud complaints were much more pronounced. Across the U.S.,

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Fraud Cards South Dakota West Virginia 100

PYMNTS

JULY 17, 2017

Fraud isn’t perpetrated by a random assortment of individuals; it’s organized crime. It’s “fraud as a Service.” It’s a very unfair match, if you ask Skye Spear, VP of eCommerce fraud-fighting firm Signifyd. “I Classic fraud deflection is rules-based. Fraud is dynamic. The Many Faces of Fraud.

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Fraud Data Delaware New York City 109

PYMNTS

OCTOBER 26, 2017

And in New Mexico, two Santa Fe government employees were placed on leave following a report that fraud is running rampant in their department. Internal fraud is, unfortunately, an all-too-common problem for businesses and government entities, especially with regards to misuse of p-cards. Fraud doesn’t happen here,’” he explained.

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Fraud Payments Cards Policies 108

PYMNTS

MARCH 31, 2020

“The FTC urges those who have encountered any type of fraud — including fraud related to the ongoing coronavirus crisis — to report it via FTC.gov/complaint ,” the FTC said. 1 to March 30, with 986 complaints; followed by Florida with 508; Texas with 490; New York with 470; and New Jersey with 247.

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New Jersey Fraud Florida Texas 175

PYMNTS

APRIL 12, 2017

Identity company MorphoTrust USA looks to put a dent in tax fraud and theft by adding an additional layer of authentication security into the mix. Recently, for instance, experts found a scammer selling 3,600 Florida W-2 forms on the dark web after phishing a tax preparation firm.

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Alabama Taxes Fraud Florida 101

PYMNTS

AUGUST 12, 2020

As part of its ongoing efforts to stop coronavirus-related fraud, the U.S. The enforcement action alleged Vietnam residents Thu Phan Dinh, Tran Khanh and Nguyen Duy Toan engaged in wire fraud to profit from the pandemic. Last week, SocialCatfish.com , an identity verification nonprofit, reported U.S.

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ABA Community Banking

FEBRUARY 4, 2019

Six people were arrested last week of bank fraud in Jacksonville, Florida Feature Risk Management AML & Fraud Customers Operational Risk Cyberfraud/ID Theft Feature3.

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Jacksonville Fraud Florida Risk Management 40

PYMNTS

SEPTEMBER 23, 2019

As we noted in the recent Digital Banking Tracker, the CNP fraud has taken a leg down in favor of fraud that looks to snag credit card numbers. Check Fraud, Too. In another example of decidedly low-tech fraud, in Oklahoma, a woman recently sentenced to prison stole $400,000 from her employer through signed paper checks.

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Cards Data Florida Fraud 124

PYMNTS

FEBRUARY 24, 2020

But even restaurants that are leveraging mobile ordering are being faced with more avenues for fraud to enter. The partnership was first launched at Publix’s Orlando, Florida-based stores, with the service planned to expand to the chain’s other locations over the next few months. Mobile Order-Ahead Developments. About the Tracker.

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Data Fraud Mobile Florida 214

FICO

DECEMBER 11, 2018

Financial institutions are constrained in their ability to make informed decisions, and consumers are naïve about the fraud impacts this purported second chance on credit. Financial institutions are constrained in their ability to make informed decisions, and consumers are naïve about the fraud impacts this purported second chance on credit.

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Video Fraud Security Florida 49

Abrigo

MARCH 22, 2023

For instance, a TBML case was identified where illicitly obtained funds were sent from Africa (Nigeria/Benin) to purchase cars from used auto dealers in the Midwest U.S.

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Training Fraud New Jersey Regulation 195

American Banker

MAY 6, 2022

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Florida Fraud Technology 69

FICO

APRIL 18, 2018

FICO today unveiled several solution upgrades that will help banks, lenders, fintechs and other institutions fight fraud and financial crime. These solutions bring unparalleled efficiency and machine learning capabilities to fraud, risk and compliance professionals. FICO ® World 2018 runs through April 19 in Miami Beach, Florida.

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Fraud Analytics Miami Florida 53

PYMNTS

JUNE 9, 2020

As much as 22 percent of consumers have now been targeted by COVID-19 digital fraud scams, driving a mounting need for new ways to mitigate digital fraud risks. Cybercrime is surging during the COVID-19 pandemic as fraudsters seize on increased online activity to steal consumers’ sensitive personal details.

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PYMNTS

DECEMBER 28, 2020

Many CUs have since leaned into these efforts with digital innovations aimed at a range of issues, such as tackling fraud or enhancing members’ remote banking access. It also offers participating CUs customized consulting services.

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North Carolina Houston Fraud Innovation 197

FICO

DECEMBER 3, 2018

In this continuation of my recent video interview with Jesse Gossman , — a police detective in South Florida, Certified Fraud Examiner, and president of the counter-fraud consulting group Bottom Line Fraud — we discuss how synthetic identity fraud is perpetrated, how the synthetic identities are created, and why they look so real.

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Fraud Video Case Study United States 40

PYMNTS

MARCH 6, 2019

In the March Credit Union Tracker , PYMNTS explores how credit unions (CUs) and credit union service organizations (CUSOs) are working to cater to the unique financial needs of their members, while also focusing on continually combating fraud. PSCU is one CUSO focused on proactively fighting fraud. Around the Credit Union Landscape.

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Fraud Security Resources Florida 134

FICO

FEBRUARY 16, 2023

When looking at total fraud cases related to skimming, we saw that 70% were tied to POCs in 5 states: California (38%), New York (16%), Pennsylvania (6%) and Florida/Washington (5%). We saw that in 2022, 58% of the attempted transactions in fraud cases were balance inquiries. Debbie holds a B.A.

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Cards US Data Fraud 98

FICO

APRIL 8, 2021

Over the last year, the global pandemic has profoundly impacted fraud trends , with financial criminals feasting on a desperate stew of consumer loneliness, financial difficulties, boredom and desperation. Stay in the Know with my Latest Fraud Video. A Local Twist on a Global “Secret Shopper” Scam. Here, victims in the U.S.

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Video Fraud Florida Cards 72

FICO

JUNE 11, 2020

The good news is that FICO is on it—by leveraging machine learning, the FICO® Falcon Fraud Platform is able to capture the latest fraud trends and transform raw data into actionable insights. . Gas stations are a hotbed for fraud. Highest 3 fraud rate states: Nevada, Florida, Michigan. by Scott Zoldi.

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New Hampshire Alaska Nevada Fraud 72

PYMNTS

DECEMBER 27, 2019

Craig Wright , a man who claims he invented Bitcoin, was recently ordered by a judge in Florida to surrender around $3 billion of his holdings in the cryptocurrency, according to a report by Bloomberg. Some crypto experts think Wright is a fraud, he didn’t invent Bitcoin and he doesn’t have any holdings at all.

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Bitcoin Florida cryptocurrency Fraud 131

PYMNTS

MAY 28, 2020

MarketWatch, quoting a local Florida news station, reported on one couple that, thinking the card was fake, cut it up into pieces and threw it away. The press release states that the cards provide protection against fraud and loss, similar to the protections afforded to traditional bank cardholders.

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Cards Florida ATM Fraud 172