Laundering Rules are Getting Tougher, But Also Easier to Follow

Payments Source

Banking Compliance Payment fraud AML

Fraud 108

New fraud controls increased false declines online

Payments Source

Fraud detection Online payments

Online 116
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

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

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: 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 250

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

Constantly changing fraud requires a multi-front offensive

Payments Source

Banking Risk Fraud Payment processing

Fraud 102

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

Card fraud has gotten more brazen during the pandemic

Payments Source

Risk Payment fraud Merchant

Fraud 97

AI reveals the analysis that can beat bank payment fraud

Payments Source

Banking Risk Fraud Payment processing

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 236

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

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

Why 'romance fraud' became big money in 2020

Payments Source

Since romance frauds generate more than 10 times the money for scammers per event than other types of fraud, 2020 saw a substantial boost in the use of this tactic. Fraud detection Digital payments

Fraud 147

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

The virtual B2B card push also helps combat fraud

Payments Source

Fraud Digital payments B-to-B payments NACHA Payment processing

Fraud 102

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

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 232

UK’s Law Enforcement Expects Uptick In Crypto Fraud

PYMNTS

England's national fraud-reporting operation, Action Fraud , reported that cryptocurrency-related scams totaled 5,581 in calendar 2020 — a 57 percent increase over the prior year, according to the Financial Times.

Fraud 205

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 237

ATMs, Credit Unions: Collaboration Breeds Innovation

ATM Marketplace

Branch transformation, customer experience and avoiding fraud concerns not only banks, but credit unions as well.

Consumers, merchants and processors are all on the hook to fight fraud

Payments Source

Risk Fraud Coronavirus E-Commerce

Fraud 102

Fed Introduces Uniform Definition Of Synthetic Identity Fraud

PYMNTS

Following a consensus from a panel of industry fraud experts, the Federal Reserve is introducing a uniform definition of what constitutes synthetic identity fraud (SIF). “A The definition of SIF came from a focus group composed of fraud experts who reached a consensus.

Fraud 198

Fighting Fraud with… Fake Fraud?

Bank Innovation

Online Operations Security Technology Aite Group fdic fraud hackers JPMorgan Chase phishing Q2The most vulnerable point in a bank’s network today might just be Bill over in marketing — or any employee. Humans are by nature vulnerable to social engineering and may discuss where they work on social media — LinkedIn is a treasure trove for would-be bank hackers. A common attack against a Read More.

Fraud 237

Fraud risk could run to billions in PPP loans

Bank Innovation

Fraud is a common trend with government relief programs. In fact, fraud estimates for previous stimulus programs indicate that the Small Business […].

Fraud 287

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

Sift Upgrades Digital Trust & Safety Suite For Enhanced Fraud Prevention

PYMNTS

Fraud prevention firm Sift has expanded its Digital Trust & Safety Suite to help businesses fight fraud and abuse, the firm announced on Tuesday (April 20). Now, amid the eCommerce boom, the fraud economy has become more robust and sophisticated.

Fraud 141

NuData: Passive Biometrics Help Battle SIM Swap Fraud

PYMNTS

Not to mention the potential for fraud from messaging apps and the rampant eCommerce fraud that comes with stolen identity in the digital-first economy. It’s that behavior that’s unique about SIM fraud, and analyzing that behavior represents the potential solution of the problem.

Fraud 219

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

Digital fraud focuses on younger consumers

Payments Source

The abrupt shutdown of retail a year ago led to a rise of digital shopping — and fraud. Fraud detection Transunion Digital paymentsAnd the most tech-savvy consumers may be the most vulnerable, according to TransUnion data. ]].

Fraud 108

Friendly Fraud Becomes Sworn Enemy For Restaurants

PYMNTS

As it turns out, those words were not only prescient for the Corleones, but they’re also relevant for the far more modern world of payment fraud. Such is the ever-expanding world of friendly fraud. There are simple, old-school fraud methods, but lately, it gets a lot more complicated.

Fraud 181

Brexit Raises The Stakes For B2B Payments Fraud

PYMNTS

Nacha is issuing a warning to accounts payable professionals with regards to the rising threat of fraud. Further, Nacha said, the survey revealed AP professionals are facing increasing fraud attempts that target AP processes specifically.

Fraud 205

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

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

Rare Carat Uses AI To Polish Off Credit Card Fraud

PYMNTS

These record eCommerce numbers have unfortunately resulted in record-high levels of digital fraud targeting online marketplaces. Not only did the total number of fraud attempts rise more than 24 percent year over year in 2020, but the total cost of fraud also increased by just over 7 percent.

Fraud 186