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PayPal tackles chargeback fraud

Payments Dive

PayPal is attacking illegitimate customer returns with new policies after a rise in e-commerce activity has fueled that type of fraud across the industry.

Fraud 458
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Banking apps fall short on fraud protections: report

Payments Dive

Consumer Reports Senior Director Delicia Hand said preventing fraud and scams is "crucial" for traditional and digital banks alike, as more of their customers use their mobile apps.

Fraud 459
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Amex EVP weighs in on fraud trends

Payments Dive

Beating back fraud can feel “a bit like a vicious circle,” as the industry improves its capabilities and fraudsters pivot, said Tina Eide, an executive vice president focused on fraud at the card issuer.

Fraud 431
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Bank wire fraud – How social engineering and technology perpetrate fraud losses

Abrigo

Bank wire fraud is growing and becoming more complex. Takeaway 1 Bank w ire transfer fraud is increasing due to technological advances today. Takeaway 2 Transnational criminal organizations commit b ank wire transfer fraud and use a variety of techniques to make Americans their victims. Investment scams were #1, with over $4.6

Fraud 195
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Risk Assessment – Building Trust in Financial Institutions

Consumer losses to fraud rose to $5.8 It's not just any crime; we're talking about money laundering and financial fraud. billion in 2021. Risk assessment is the latest technology that helps companies evaluate risks and ensure proper client onboarding.

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FedNow fraud prevention for credit unions: A guide for AML, fraud teams

Abrigo

Prevent fraud when adopting FedNow Credit unions can prevent fraud as they connect to FedNow. Use this guide to understand available tools and the steps AML and fraud teams should take. You might also like this FedNow implementation guide with details on appropriate AML/CFT and fraud considerations.

Fraud 221
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Fed touts FedNow’s fraud tools

Payments Dive

Cleveland Fed President Loretta Mester in a speech this week spelled out tools the new instant payments system will have for thwarting fraud.

Tools 370