PYMNTS

MAY 7, 2020

Emerging uses of adaptive AI and other new tech is set out in the new FI Fraud Decisioning Playbook , a PYMNTS and Simility collaboration, as financial institutions (FIs) and their clients ready for reopening by modeling good customer behavior to help identify bad actors. Learn by Example.

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Fraud Tools Data Examples 248

FICO

NOVEMBER 16, 2022

Enterprise Fraud Solution Buyers Want More Agility, More Data. Our recent global survey reveals the investment priorities and functionality requirements for enterprise-level fraud solution buyers. We asked about priorities, plans and requirements for enterprise fraud prevention and detection solutions , and the results are fascinating.

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Fraud Data Survey Regional 52

PYMNTS

JUNE 17, 2020

The military’s need for tracking its multi-part, expensive operations has only increased with the introduction of 3D printing, according to Coindesk. Robert Farkas, the 33-year-old co-founder of crypto project Centra Tech , has pleaded guilty in court to conspiring to commit securities and wire fraud, Coindesk reported.

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PYMNTS

JANUARY 26, 2017

B2B payments have a reputation for being slow to innovate , though the last couple years has challenged that notoriety. Still, according to the latest Mercator Advisory Group report on FinTech disruption, B2B payments will have to wait a bit longer to see true change from these innovations.

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PYMNTS

MAY 8, 2019

The Indianapolis-based firm, which works to accelerate B2B payments to truck operators, apparently has removed its CEO and COO — the result of a financial accounting scandal at another trucking firm where FreightRover executives had worked. The problems reportedly stem not from FreightRover, but from Celadon Group Inc.,

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PYMNTS

OCTOBER 29, 2018

There may come a day, a generation or two from now, when stories about the data breaches and other hacking threats faced by payments and commerce operators in 2018 seem quaint — or, at the least, like relatively primitive foreshadowing of a new type of digital criminality. It’s already happening, of course, albeit tentatively.

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PYMNTS

MARCH 3, 2020

Whether embracing development and adoption of new payment rails or developing solutions for legacy versions, the latest in payments innovation is all about speed – even for corporate payments. New research from Mercator Advisory Group predicts B2B payments will become the largest payment segment in the U.S. Finance reported last week.

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FICO

SEPTEMBER 20, 2022

Fighting Fraud with Responsible AI: My Talk with Dr. Scott Zoldi. FICO fraud expert TJ Horan talks fraud management and responsible AI with FICO's Chief Analytics Officer, Dr. Scott Zoldi. As for me, I’m a software guy and payments professional doing my best to roll with the changes in an ever-shifting fraud landscape.

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PYMNTS

OCTOBER 4, 2019

Chase On Using Machine Learning To Crack Fraud’s Goldilocks Conundrum. The global threat of fraud shows no signs of slowing down. Losses related to fraud are valued at $14.7 billion, according to the most recent DataVisor Fraud Index Report. Mastercard: Fraud-Fighting’s New Mantra — Test, Protect, Prevent.

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PYMNTS

JUNE 6, 2017

From some guy’s garage in San Francisco, a group of math nerds has grown into one of the world’s finest-tuned machine learning operations. SigOpt now helps optimize fraud detection and investments like beer brewing and even the manufacturing of synthetic rhino horns. PYMNTS: Can you explain the business?

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PYMNTS

APRIL 22, 2016

Regardless of the company, its industry, its customers or location, online fraud remains top of mind. The urgency of robust and multilayered fraud detection systems becomes especially clear against a backdrop where card-not-present fraud is likely to grow by leaps and bounds in the wake of the EMV liability shift from last year.

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Fraud Idaho Innovation San Francisco 100

PYMNTS

JANUARY 1, 2021

s Competition and Markets Authority (CMA) — chiefly for a new watchdog group — the proposed regulatory regime is intended “harness the full potential of digital markets, driving greater competition and innovation,” according to a CMA statement. In recommendations issued earlier in the month by the U.K.’s Beyond The Companies .

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FICO

JULY 1, 2022

Global Fraud Trends: What’s Happening and What’s Next? Here are the highlights from the fraud trends breakout session at FICO World 2022 with a panel of fraud professionals from Brazil, Turkey and North America. Ulisses Okamoto , Fraud Risk Management Superintendent at Itaú Unibanco (Brazil). Tue, 07/02/2019 - 02:45.

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FICO

JANUARY 10, 2023

Top 5 Fraud Posts for 2022: Scams, Contactless and Money Mules. In a year that saw the word "scamdemic" coined, scams such as authorised push payment fraud were top of mind, along with various other fraud schemes. Few things change faster in the financial services space than fraud trends. FICO Admin.

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Insights on Business

DECEMBER 6, 2018

In the emerging world of person-to-person (P2P) payments, establishing a frictionless (and “ fraud-less” ) experience is even more critical, since a bad experience early in the transaction will lead consumers to the many competitive alternatives in the market. Fraud prevention: The first line of defense.

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Fraud Payments Security Technology 79

FICO

OCTOBER 7, 2020

I recently had the honor of participating in a session on Fraud and Financial Crimes Convergence at the Aite Financial Crime Forum. I’m excited to share, the industry is rallying around convergence of fraud and financial crime management, and the opinions shared by my colleagues on the panel confirm it.

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Fraud Data Industry Technology 52

PYMNTS

JUNE 21, 2016

The effort provides innovative early-stage startups with access to an immersive six-month program where they receive guidance and support from MasterCard on scaling their operations and entering new markets and industries. “It’s not a random set of companies.

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FICO

OCTOBER 30, 2017

Identity theft is growing at an exponential rate, leading to a rise in application fraud. AITE Group projected the cost of fraudulent applications to be $28.6 Identity theft, also known as third-party fraud losses, is just the tip of the iceberg. Where is the rise in identity-based fraud coming from? million to 15.4

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PYMNTS

JULY 30, 2019

The former president of the global services group at American Express will join Visa as its chief risk officer on September 3, according to a press release. He will also be the main contact person for the regulatory agencies tasked with oversight of Visa in the more than 200 countries in which it operates.

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Strategy Operations System Security 174

PYMNTS

MARCH 17, 2017

That’s why payments innovation isn’t just about delivering a solution, but delivering one that can create efficiency and reduce risk in a secure manner. We have an extremely talented group of people who work for us who have helped First American in the merchant services industry. PYMNTS: What does innovation mean to you?

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Innovation Security Payments Mobile 108

PYMNTS

MAY 29, 2020

We have deep dives on Main Street’s digital shift, ATM innovation and PPP loans. Civilization has progressed enough that many of us know it’s wrong to demonize a group of people due to a personal characteristic, as it isn’t based on evidence or reason, and it simply shows base prejudice. Innovating The ATM Beyond Cash.

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PYMNTS

JULY 11, 2018

Falkowski was sentenced to 30 months in a federal prison for being the brains behind a $1 million fraud scam. To protect himself, he created faulty invoices to trick QVC into paying for his fraud. The fraud happened from 2008 until he was fired in 2013, noted the report. QVC former director James D.

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Company New York City Fraud Retail 102

PYMNTS

NOVEMBER 13, 2018

A group of payment players announced Tuesday (Nov. In a press release, the group said the mission, structure and focus of the U.S. It said the operating vision for the FPC is the result of more than 1,000 comments from industry players across the payment ecosystem. 13) that they created a new organization, dubbed U.S.

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Payments Survey Innovation Guidelines 192

FICO

DECEMBER 14, 2021

But European fraud and financial crime have continued to evolve. But we can’t ignore the backlash from anti-vaccination groups. As those deep fake technologies develop, we will see more innovation and use of a wider variety of biometric technology thrown into the mix. Related scams have also been on the rise.

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Fraud Management Data Trends 52

PYMNTS

DECEMBER 20, 2019

We have a deep, data-supported dive on fighting fraud with artificial intelligence (AI), an outlook on seven 2020 trendlines and news on gas station cyberattacks. Shoppers are an ever-evolving group, and the emergence of the era of digital commerce has undeniably changed the landscape for groceries.

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Fraud Trends Payments Retail 100

PYMNTS

NOVEMBER 20, 2018

That’s the idea behind the recently launched Faster Payments Council (FPC), a group of payment industry participants with the goal of providing a ubiquitous payment system with near-immediate funds availability anywhere. Fraud anxieties, for one — 20 percent of the companies in the report said they dislike using checks for that reason.

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Payments Innovation Technology Operations 175

PYMNTS

SEPTEMBER 9, 2020

A partnership between Pakistan's Saffran Group and Japan Communications intends to invest in local FinTech initiatives, according to the release. And recent innovations by the government allow for residents overseas to open bank accounts and make direct investments from abroad, Munford said in the release.

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Mobile Survey Fraud Security 206

PYMNTS

AUGUST 9, 2020

Most of the letters from individuals, 2,246, argued the Federal Reserve should not operate in competition with the private sector and viewed the decision to implement FedNow as an expansion that is inconsistent with its historical purpose. Big banks said the Fed’s involvement will only serve to slow adoption of real-time payments.

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System Payments Operations Fraud 181

FICO

FEBRUARY 28, 2018

But how can it best be used to fight application fraud? It was not much before Deep Blue, in 1992, that FICO pioneered the use of artificial intelligence and machine learning to fight credit card fraud. Fraud losses on US credit cards were reduced by over 70% since the introduction of FICO’s real-time anti-fraud analytics.

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Fraud Analytics Regulation Examples 69

Bank Innovation

APRIL 20, 2016

The 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 150

Fraud social media Marketing Operations 150

PYMNTS

DECEMBER 18, 2019

The new open sharing rules proposed by the Financial Conduct Authority would “increase innovation and choice” and prevent unfair competition. billion in new financing in a drive for fundraising headed up by Goldman Sachs Group, Inc. Goldman Leads $1.75B Line Of Credit For WeWork.

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Apple Fraud Payments Regulation 130

PYMNTS

JANUARY 18, 2022

The purchase of Munich-based Bankhaus von der Haydt, established in 1754, is a vital step in its goal of creating “a regulated crypto products powerhouse in the heart of Europe,” said BitMEX Group CEO Alexander Höptner in a blog post. Regulated” is a word Höptner returned to repeatedly in the announcement. BitMEX Indictments.

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Regulation cryptocurrency Groups Innovation 169

PYMNTS

NOVEMBER 1, 2018

Hong Kong Monetary Authority (HKMA) has received a trio of complaints that the faster payments infrastructure has been a conduit to fraud, and the transactions range from $1,280 to $12,750. The alleged fraud involves personal data used to set up eWallet accounts and facilitate direct debit activity.

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Payments Fraud Survey Innovation 144

South State Correspondent

JANUARY 23, 2023

Our innovation working group, called Spark, has been playing with the tool for the past several months, and this article details how we use it to jump our productivity by 20%. How Bankers Will Use This Amazing Tool Bankers can use ChatGPT in various ways to improve their productivity, operations, and customer experience.

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Tools Examples Analysis Data 370

PYMNTS

JULY 3, 2020

Since most CUs start life as an economic affinity group of some kind, loyalty is often baked into the business relationship pre-inception. PYMNTS’ research indicates that 33 percent of CUs offered loyalty and rewards innovations in 2019, up from 29.4 Dividends of Loyalty Innovation. percent in 2018. Easy is the New Loyalty’.

Innovation 154

Innovation User Experience Tools Technology 154

PYMNTS

JANUARY 17, 2020

Subscription’s promises of recurring revenue streams for companies and convenience for customers offer powerful benefits, but an unwelcome group is also subscribing to such services: fraudsters. Preventing fraud with seamless and secure onboarding solutions is key. million fraud reports in 2018, resulting in $1.48

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PYMNTS

FEBRUARY 21, 2020

It is critical for platforms that serve niche groups to be able to engineer trust, according to Francois de Landes, co-founder and chief operating officer for LGBTQ-focused global travel marketplace misterb&b. That means … we need to be very, very reactive to the new ways of [creating] fraud.”. Euros, U.S.

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Security Fraud Examples Payments 225