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

Payments Source

Risk Authentication Payment fraud

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Fraud shifts to mobile, loyalty in 2020

Payments Source

Fraud detection Payment fraud

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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 296

Wayfair, Riskified Lengthen Fraud Prevention Partnership

PYMNTS

The eCommerce fraud management platform Riskified is extending its three-year-old partnership with the home furnishings company Wayfair. Read more: Two-Thirds of Consumers Don’t Trust Retailers’ Ability to Prevent Fraud.

Fraud 234

Laundering Rules are Getting Tougher, But Also Easier to Follow

Payments Source

Banking Compliance Payment fraud AML

Fraud 93

Payments Orchestration Helps Online Merchants Find, Plug Fraud Vulnerabilities

PYMNTS

The conversation took place against a backdrop in which Spreedly reported a 300% year-over-year increase in use of the company’s connection to fraud vendors to prevent fraud. Read more: Spreedly Use Up 300% by Retailers for Fraud Prevention.

Fraud 242

AI/ML Lifts Synchrony Fraud Detection Accuracy to 90%

PYMNTS

Financial crime risks have soared since the unprecedented shift to remote work, and the new fraud landscape has financial institutions (FIs) struggling to keep pace with prevention measures. Around the Financial Fraud Space.

Fraud 234

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.

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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 240

How AML compliance is intersecting payment fraud prevention

Payments Source

Fraud detection AML

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 278

IBM, MonetaGo Team Up to Tackle Trade Finance Fraud

PYMNTS

IBM is partnering with FinTech startup MonetaGo to tackle trade finance fraud, and it will set its sights first on Southeast Asia, according to a press release. Read more: Duplicate Financing Fraud Faces New Foe That Sheds Light on an Elusive Thief.

Fraud 243

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 203

BitConnect Exec Admits to Role in Alleged $2B Crypto Fraud

PYMNTS

According to the DOJ release: “Arcaro admitted that he earned no less than $24 million from the BitConnect fraud conspiracy, all of which, according to court documents, he must repay to investors.”. Security & Fraud Bitconnect cryptocurrency Editors' Picks fraud legal News What's Hot

Fraud 251

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

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.

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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 247

Sift to acquire Chargeback to stifle e-commerce fraud

Payments Source

Fraud detection M&A

Fraud 111

Deep Dive: How AI- and ML-Powered Analysis Can Improve Fraud Detection and Investigation

PYMNTS

Nearly three-quarters of compliance professionals in a survey reported filing more suspicious activity reports related to financial crimes in 2020 than in 2019, and 69% said better fraud detection would have the most impact on reducing losses. AI and ML’s Anti-Fraud Capabilities.

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.

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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

ModCloth's Data-Driven Approach to Tackling Fraud, Reducing False Positives

PYMNTS

Digital fraud is a perennial concern for banks, merchants and businesses of all types, with eCommerce retailers expected to lose $20 billion this year alone — an 18% increase over 2020. The fraud prevention market is expected to hit $40.8 Developments From the Digital Fraud Space.

Fraud 189

New fraud controls increased false declines online

Payments Source

Fraud detection Online payments

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

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 254

Reports of Fraud Mar El Salvador’s Bitcoin Journey

PYMNTS

Bitcoin cryptocurrency digital currency fraud international NewsIn a week that saw bitcoin rocket to near previous highs, El Salvador’s own grand experiment with embracing the crypto as legal tender seems to be getting some pushback.

SEC Charges Ex Silicon Valley CEO With $80M Fraud

PYMNTS

million in HeadSpin shares at prices inflated by his fraud. Security & Fraud fraud HeadSpin News Securities and Exchange Commission What's Hot

Fraud 242

HSBC on Authenticating Customer Payments to Reduce Fraud

PYMNTS

Payments fraud is a perpetual threat for banks, businesses and payments providers, with 74% of organizations falling victim to some type of payment scam last year. Payment fraud losses are expected to total $206 billion over the next four years, with firms expected to spend $11.8

Fraud 207

Report: AI and Transaction Notifications Help FIs Stop Payments Fraud Before Customers Get Scammed

PYMNTS

This rise of digital payments is a double-edged sword, however, as it also offers bad actors unprecedented opportunities for payments fraud. This arms race between fraudsters and fraud prevention experts seems unlikely to come to an end any time soon.

Report 228

Improving The Bottom Line With Fraud Mitigation

PYMNTS

In this excerpt from The Connected Economy’s Power Source – CEO Edition , Nicolas Stehle, founder and CEO of Scalefast , talks about the importance of fighting fraud in the digital economy, and how each firm needs its own customized approach. The same can be said of fraud prevention.

Fraud 206

AI reveals the analysis that can beat bank payment fraud

Payments Source

Banking Risk Fraud Payment processing

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 283

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 272

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.

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Spreedly Use Up 300 Pct By Retailers For Fraud Prevention

PYMNTS

Payments orchestration platform Spreedly reported a 300 percent year-over-year increase in the number of merchants using the company’s resources to prevent fraud, according to a press release emailed to PYMNTS. Security & Fraud fraud News Security Spreedly What's Hot

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