The U.S. Pandemic Recovery is a Chance to Improve Digital ID

Payments Source

Risk Authentication Payment fraud

Fraud 157

Fraud: Prevention tips from Visa

Mobile Payments Today

Fraud is something that continually affects the financial industry. Mike Lemberger, senior vice president and regional risk officer for Visa, North America, explains ways that Visa is helping disrupt fraud before it costs consumers and businesses

Fraud 319
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Battling fraud amid COVID-19

Mobile Payments Today

At the same time, consumers and merchants are increasingly exposed to a new level of fraud as bad actors are finding new methods and targets to take advantage of the online shift

Fraud 316

Fraud shifts to mobile, loyalty in 2020

Payments Source

Fraud detection Payment fraud

Fraud 92

Laundering Rules are Getting Tougher, But Also Easier to Follow

Payments Source

Banking Compliance Payment fraud AML

Fraud 95

Stopping PPP Fraud

Abrigo

How Institutions Can Avoid Fraud Surprises in the Next Round of the PPP BSA and fraud professionals saw a spike in PPP fraud during the first two rounds of funding. How can they be better prepared to prevent fraud in this next round? PPP Fraud Spikes. Fraud Trends.

Fraud 195

FBI: Businesses Need AI To Curb Social Engineering, Phishing Fraud

PYMNTS

Digital fraud has been a steadily growing issue over the past few decades, but it was kicked into overdrive during the past year due to record levels of digital engagement. Developments From The Digital Fraud Space. How Multilayered AI And MFA Solutions Can Help Curb Digital Fraud.

Fraud 251

Fraud Prevention Platform Riskified Files For IPO

PYMNTS

Fraud management platform Riskified has filed for an initial public offering (IPO), according to a press release. And 48 percent of them said they are more concerned with eCommerce fraud now than they were prior to the pandemic. IPO fraud IPOs News Riskified What's Hot

Fraud 219

How To Stop Online Fraud: Crush The Fraudsters’ ROI

PYMNTS

It’s not just about adding more fraud tools, Lackey said, but also about evolving alongside — and hopefully ahead of — the fraudsters in constructing risk models and developing a fraud prevention approach that can handle a rapidly shifting fraud market with many new moving pieces.

Fraud 236

Rampant Check Fraud Problem Puts The Challenge In Challenger Banks

PYMNTS

And mobile deposit capture has become a magnet for fraudsters — even more so recently with unemployment and stimulus check fraud. Check fraud, Edwards was quick to point out, isn’t just a challenger bank problem. What is a bank ?

Fraud 229

The B2B Fraud Lens Focuses In On Invoice Scams

PYMNTS

Business email compromises (BEC) are among the most common methods of B2B payments fraud and can frequently involve invoice manipulation when a cyber attacker or nefarious actor alters bank information on an invoice to redirect B2B payments into the wrong account.

Fraud 207

Sift to acquire Chargeback to stifle e-commerce fraud

Payments Source

Fraud detection M&A

Fraud 111

PayPal Introduces New Fraud Protection Tool For Merchants

PYMNTS

PayPal is launching a new fraud protection tool to help merchants combat the growing problem of online fraud. Other problems that trip merchants up from stopping online fraud is the lack of advanced tools or not having best practice policies in place.

Tools 285

FTC: Americans Lost Nearly $500M To COVID Fraud

PYMNTS

The proliferation of fraud and scams involving COVID-19 has dealt heavy fiscal blows to Americans’ wallets, according to data from the Federal Trade Commission (FTC), per Public Tableau. There were 544,092 reports through Thursday (July 8), and the median fraud loss was $366.

Fraud 219

Merchants Go On Offense To Reimagine Fraud Prevention

PYMNTS

When fraudsters gain access to a legitimate customer’s account, a merchant who conducts their fraud review only at the time of purchase will miss out on being able to stop both the fraud loss and a negative customer experience for that good customer before it can even start,” Allen said.

Fraud 236

Mitigating Mobile Fraud with Secure Subscriber Enrollment

Mobile Payments Today

To streamline the enrollment process, while reducing the potential for fraud, GIACT released a new white paper, Mitigating Mobile Network Fraud with Secure Subscriber Enrollment , detailing the best practices in secure digital enrollment

Fraud 299

New fraud controls increased false declines online

Payments Source

Fraud detection Online payments

Too many gaps in banks' fraud-prevention systems

American Banker

Identity theft Fraud

Advanced Fraud Solutions Debuts Tool To Fight Vendor Fraud

PYMNTS

Advanced Fraud Solutions (AFS), which works in deposit fraud detection software, has rolled out AFS Positive Pay, which will help financial institutions (FIs) and enterprise customers look at changes in payments information to prevent fraud, according to a press release.

Fraud 185

Study: COVID-19 Fraud Reaches $100M

PYMNTS

losses from COVID-19 fraud and ID theft have reached nearly $100 million since the pandemic emerged in March, according to Reuters. Even small states saw huge increases in COVID-related fraud in recent months. SocialCatfish.com, the identity verification nonprofit, reported U.S.

Study 247

Dynamic PII: The key to fighting payments fraud

Mobile Payments Today

Is your company assessing online fraud with a deterministic approach or a probabilistic approach? Beth Shulkin, VP of Global Marketing at Ekata shares her view on the best way to assess fraud risk in the payments landscape today

Fraud 279

Report: 100 Healthcare Execs Speak Out On Using AI To Curb Fraud, Waste And Abuse

PYMNTS

This is an example of cases that are causing a rise in concern for fraud, waste and abuse (FWA) schemes which are becoming rampant in the healthcare space and costing health insurers nearly 12 percent of their annual revenues, according to recent PYMNTS research.

Fraud 267

Location verification can prevent QR code fraud

Mobile Payments Today

Mobile Payments Today interviewed André Ferraz, the CEO and co-founder of Incognia, a private identity company that provides fraud prevention by using frictionless identity location verification

Fraud 233

Identity Fraud in the Digital Age

Mobile Payments Today

The Identity Fraud in the Digital Age report, developed by Javelin Strategy & Research and sponsored by GIACT, details the challenges of preventing new and emerging fraud threats and what businesses should consider in their fraud prevention strategies for the year ahead

Fraud 198

Fraud Decisioning Goes Omnichannel

PYMNTS

“Banking is rapidly becoming more omnichannel, and FIs need to be sure they can safeguard customers across all the products through which they access their financial services,” according to the May 2020 FI Fraud Decisioning Playbook , produced by PYMNTS and sponsored by Simility.

Fraud 176

Invoice Fraud Strikes Amazon In $19M Scam

PYMNTS

In a case that highlights how anybody — truly, anybody — can be a victim of invoice fraud, federal officials have reportedly charged two brothers in New York State for an alleged $19 million scam targeting Amazon. Fitzhugh warned, "Invoice fraud is not a victimless crime.

Fraud 282

FIs Need Real-Time Tools To Stop Real-Time Payments Fraud

PYMNTS

Fraud looms, as it always does, when there is money to be moved — and with real-time payments, there are truly only a few milliseconds in which to stop bad actors.

Tools 254

EY Accused Of Missing Alleged Wirecard Fraud

PYMNTS

In the ongoing scandal of Wirecard , under fire for fraud, the focus is now turning to auditors Ernst & Young (EY), which reportedly failed to report Wirecard’s “unorthodox financial arrangements” as far back as 2016, The Wall Street Journal (WSJ) reported.

Fraud 270

Exposing misconceptions in payments fraud

Mobile Payments Today

In Part II of a blog series, Steve Villegas addresses how payments fraud impacts cross-border ecommerce

Fraud 248

AI: The Glue That Binds FIs' Fraud Prevention Systems

PYMNTS

Digital fraud has been on the upswing as the global health crisis continues, with losses due to pandemic-related scams like fraudulent Paycheck Protection Program (PPP) loans or the impersonation tax officials topping $100 million by August alone. Developments From The World Of Digital Fraud.

Fraud 234

AI-Based eCommerce Fraud Solution Signifyd Closes $205 Million Round

PYMNTS

eCommerce fraud protection platform Signifyd has raised $205 million in a Series E funding round, the company announced in a press release Thursday (April 15), valuing the platform at $1.34 Investments ecommerce fraud funding News signifyd What's Hot

Fraud 279

How Dropbox Fights Fraud

PYMNTS

Fraud continues to increase in many areas, despite extensive attempts to bring it to heel. Retail fraud attempts have doubled year over year, for example, while account takeover (ATO) fraud losses recently hit $14.7 Developments From Around The World Of Digital Fraud.

Fraud 163

The Fraud That 85 Percent Of Fraud Detection Systems Miss

PYMNTS

The tools we use to detect, score and prevent fraud — particularly card-not-present fraud in digital transactions — have improved exponentially in the last half-decade. The Rising Threat of Synthetic Identity Fraud.

Fraud 206

Fraud Prevention Firm Sift Acquiring Dispute Startup Chargeback

PYMNTS

Fraud prevention platform Sift is making plans to acquire the Software-as-a-Service (SaaS) dispute startup Chargeback , the companies said in a press release on Tuesday (May 25). Acquiring acquisitions chargeback fraud M&A News Security Sift What's Hot

Fraud 229

The FBI On Revamping Fraud Prevention Strategies To Protect Against Digital-First Financial Crime

PYMNTS

Cybercriminals are leveraging a growing variety of emerging technologies to launder funds or skim data, and banks or other entities tasked with guarding against such schemes have not yet strengthened their fraud responses to match this type of complexity.