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Visa flags rising in-person fraud

Payments Dive

The card behemoth said it’s observing an increase in in-person fraud now that U.S. consumers are returning to their pre-pandemic shopping habits

Fraud 357
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The U.S. Pandemic Recovery is a Chance to Improve Digital ID

Payments Source

Risk Authentication Payment fraud

Fraud 157
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PayPal hit with Venmo fraud lawsuit

Payments Dive

Yet another lawsuit related to alleged fraud on a peer-to-peer payment app targets digital payments company PayPal

Fraud 318
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Card industry’s fraud-fighting efforts pay off: Nilson Report

Payments Dive

Industry efforts to fight card fraud are making an impact, with transactional losses per $100 trending downward, according to the Nilson Report

Industry 260
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Fraud shifts to mobile, loyalty in 2020

Payments Source

Fraud detection Payment fraud

Fraud 127
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Fraud: Prevention tips from Visa

Payments Dive

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 329
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Ukraine raises fraud concerns, Stripe exec says

Payments Dive

The war in Ukraine raised the stakes for payment fraud detection, as bad actors devise more complex ways of evading oversight

Fraud 227
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Senate Democrats berate Zelle over alleged fraud

Payments Dive

senators said the company's platform leaves consumers exposed to fraud, with little ability to recover lost funds. In a letter to Zelle's CEO, two U.S. “Your company and the big banks who both own and partner with the platform have abdicated responsibility," they said

Fraud 309
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Banks take stock of payment fraud threats

Payments Dive

Credit card fraud tops the list of growing threats, but P2P and newer payment vehicles are quickly catching up, according to a recent poll of industry executives

Fraud 212
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2023 Fraud trends: What banks and credit unions can expect

Abrigo

Fraud trends for financial institutions to watch for in 2023 Financial institutions should not expect a slowdown of any of 2022’s fraud trends. No fraud decrease likely for 2023. billion to fraud in 2021, a 70% increase over the prior year. million fraud victims.

Trends 195
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Location verification can prevent QR code fraud

Payments Dive

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 363
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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 230
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Warren urges CFPB crackdown on Zelle fraud

Payments Dive

Elizabeth Warren told the Consumer Financial Protection Bureau that it should amend Regulation E of the Electronic Fund Transfer Act “to increase consumer protection &rdquo

Fraud 284
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Fraud fighters zero in on document manipulation

American Banker

Fraud detection Fraud Technology

Fraud 60
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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 237
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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 261
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Fraud Concerns and Trends in 2022

Abrigo

Fraud on Alert for 2022 A review of SAR data , government agenc y releases, a nd fraud findings found these f raud c oncerns and trends to wat ch in 2022. Takeaway 1 An Abrigo review of SAR data, government agency releases, and fraud findings revealed fraud trends to watch for.

Trends 195
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Friendly fraud: How should fintechs view the risks?

Payments Dive

With friendly fraud, fintechs don’t always consider the whole picture when it comes to fraudulent disputes

Fraud 254
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Mitigating Mobile Fraud with Secure Subscriber Enrollment

Payments Dive

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 336
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Fighting Cyber-Enabled Fraud with BSA, Fraud & IT Collaboration – Video

Abrigo

Combating Cyber-Enabled Fraud Requires Communication Increases in cybercrime or cyber-enabled fraud deserve attention from financial institutions, as Abrigo expert Terri Luttrell explains in this video. . Combining BSA and Fraud departments? Get the latest on fraud detection.

Fraud 195
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Laundering Rules are Getting Tougher, But Also Easier to Follow

Payments Source

Banking Compliance Payment fraud AML

Fraud 93
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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
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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 143
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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
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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 242
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Top AML/CFT & fraud blogs of the year

Abrigo

Most-read blogs on financial crime in 2022 Synthetic ID fraud, AML quality control, and SAR writing topics were among Abrigo's top blogs on AML/CFT and fraud this year. . Takeaway 1 AML/CFT and fraud professionals often keep up to date on industry trends by reading Abrigo's blog.

Fraud 195
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FIS extends tie with Chargebacks911 to fight fraud

Payments Dive

The partnership is aimed at arming merchants with digital tools to reduce chargebacks, cut costs and combat fraud

Fraud 212
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Panel blasts fintechs for missing PPP fraud

Payments Dive

Fintechs like Womply and Blueacorn provided the “paths of least resistance” for fraudsters bilking the federal Paycheck Protection Program, a House subcommittee said Thursday

Fraud 212
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How B2B Payments Fraud Hides Within The Enterprise

PYMNTS

When it comes to B2B payments fraud, it’s not a matter of if it happens, but when. ” Paper checks are a particularly weak spot for organizations as check fraud balloons. Fraud Captures Faster Payments Council Attention. Million Fraud Scam Leads To Charges Against CEO.

Fraud 262
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AI has taken over imaginations. It's also taking over fraud.

American Banker

Artificial intelligence Fraud Technology

Fraud 58
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JPMorgan Ups Payment Fraud Protection For SMBs

PYMNTS

Morgan Chase is stepping up its payment fraud protection services for small- to medium-sized businesses (SMBs) to help them combat scam and fraud attempts, Reuters reported. B2B Payments B2B banking fraud JPMorgan Chase News SMBs What's Hot In B2B

Fraud 221
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Fraud is down, but more expensive

American Banker

Fraud Fraud losses

Fraud 59
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Mitigating fraud in the payments industry

Payments Dive

Cybercrime countermeasures are essential to protecting private banking data. Here’s how fintech innovators can protect customer data

Industry 227
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Popular Bank agrees to $2.3 million PPP loan fraud penalty

American Banker

Fraud Risk management Financial crimes Commercial banking

Fraud 60
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How AML compliance is intersecting payment fraud prevention

Payments Source

Fraud detection AML