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

Payments Source

Risk Authentication Payment fraud

Fraud 157

Fraud Concerns and Trends in 2022


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

Sign Up for our Newsletter

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

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

Fraud shifts to mobile, loyalty in 2020

Payments Source

Fraud detection Payment fraud

Fraud 127

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

Battling fraud amid COVID-19

Payments Dive

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 344

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

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


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

Study: COVID-19 Fraud Reaches $100M


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., the identity verification nonprofit, reported U.S.

Study 230

Mastercard beefs up its defenses against first-party fraud

American Banker

Fraud Payments

Fraud 69

Brexit Raises The Stakes For B2B Payments Fraud


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

EY Accused Of Missing Alleged Wirecard Fraud


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

Laundering Rules are Getting Tougher, But Also Easier to Follow

Payments Source

Banking Compliance Payment fraud AML

Fraud 93

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

Stopping PPP Fraud


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

Fraud Threat Overview: Cybercrime Results in Unprecedented Losses


Protect your financial institution from cybercrime With cybercrime constantly evolving, what can businesses and financial institutions do to prevent fraud? Investment fraud has been familiar to the financial world for some time. Fraud Prevention.

Fraud 195

How Dropbox Fights Fraud


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

Invoice Fraud Strikes Amazon In $19M Scam


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

Preventing Cyber Fraud – Video


Growing Cyber Fraud Concerns What can financial institutions do to prevent and detect cyber fraud? You might also like this blog on cyber fraud. Takeaway 1 Cyber fraud increased during the pandemic, leaving financial institutions working harder to prevent and detect it.

Video 195

How AML compliance is intersecting payment fraud prevention

Payments Source

Fraud detection AML

Dynamic PII: The key to fighting payments fraud

Payments Dive

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 322

How B2B Payments Fraud Hides Within The Enterprise


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

JPMorgan Ups Payment Fraud Protection For SMBs


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

FinCEN Guidance on Cyber Fraud – Video


FinCEN provides guidance on Cyber Fraud What can financial institutions do to prevent and detect cyber fraud? You might also like this blog on FinCEN's AML/CTF priorities on cyber fraud. FinCEN recognizes increase in cyber fraud. Money Mule and Imposter Fraud.

Video 195

Strategies for fighting remote authentication fraud

Independent Banker

As more customers moved online, fraudsters took advantage of new and increasingly inventive opportunities to commit remote authentication fraud. These types of scams fall under the broad term of remote authentication fraud, and they’re increasingly common—and inventive.

Mapping Fraud’s DNA


Payments and commerce fraud has its own ecosystem, one that includes criminals, servers and other computing devices, IP addresses, compromised payment cards and stolen personal data, and even houses and other physical locations. That’s what Feedzai is trying to do — it is using machine learning (ML), artificial intelligence (AI), human expertise and link analysis techniques to, in a way, map the genome of digital fraud so as to prevent it. The Biology Of Fraud.

Fraud 166

Exposing misconceptions in payments fraud

Payments Dive

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

Fraud 264

Bringing AI To The Fight Against Healthcare Payments Fraud


This brings a longstanding challenge to the fore: Healthcare organizations have long struggled with fraud, waste and abuse (FWA), costing the United States healthcare sector more than $200 billion annually by some estimates.

Fraud 284

Fraud Decisioning Goes Omnichannel


“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 132

Identity Fraud in the Digital Age

Payments Dive

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 228

How Walgreens Relies On Digital Deals To Fight Promotion Fraud


Savvy shopping can sometimes cross the line into outright fraud , however, with bad actors violating terms of redemption, assuming false identities or conducting myriad other schemes to wage promotion abuse fraud. Fighting In-Person And Online Promotion Fraud.

Fraud 227

Why Fighting Fraud Means Looking Beyond The Transaction


But the bad news is that fraudsters see a once-in-a-lifetime opportunity to jump into the increased flow of transactions, Gary Sevounts , executive at fraud detection firm Kount , told PYMNTS in a recent conversation. Fraud Prevention as an End-To-End Journey.

Fraud 230

Machine Learning Supercharges Banks’ Efforts To Fight Debit Fraud


While fraud affects less than 1 percent of all card purchases, consumers who do lose funds from their bank accounts must go through lengthy and often stressful processes to get their money back. Leveraging Machine Learning, Rules-Based Analysis To Fight Debit Fraud.

Fraud 245

Trulioo: Dramatic Fraud Spike Threatens Secure Digital Future


A massive spike in fraud of all kinds has taken businesses by surprise and left them scrambling for solutions, Trulioo Chief Operating Officer Zac Cohen told Karen Webster in a recent conversation. Security & Fraud biometrics Coronavirus Featured News fraud News podcast Security trulioo

Fraud 244

Synthetic Identity Fraud: Prevention & Detection Tips for Financial Institutions


Synthetic ID fraud is growing quickly and hurts FIs and customers Knowing the schemes associated with synthetic identity fraud and how criminals avoid detection can help minimize losses. Synthetic ID Fraud. Synthetic identity fraud: Scope and impacts.

Fraud 195