PYMNTS

NOVEMBER 3, 2020

One of Sweden’s largest private insurers, Folksam Group , says a data breach affected one million of its clients. The firm said it discovered the breach after an internal audit and that it has reported the breach to Swedish regulators. elections or fraudsters looking to take advantage of the pandemic’s eCommerce trends.

Groups 255

Groups Data Report America 255

PYMNTS

NOVEMBER 17, 2020

One of the most challenging aspects of the B2B PPE market amid the pandemic has been a surge in unfamiliar vendors stepping onto the scene. As a result, there were a lot of new entrants and a lot of new suppliers on the market — some people trying to help, and some trying to make a buck.". once again. Know Your Supplier.

Marketing 235

Marketing Meeting Fraud National 235

PYMNTS

MARCH 9, 2020

The group, which represents brands including Clorox and Colgate-Palmolive, among others, wants the Justice Department to stop merchants from heavily increasing prices on key coronavirus prevention supplies, such as masks and hand sanitizer, CNBC reported.

Groups 144

Groups Branding Fraud Compliance 144

PYMNTS

JULY 2, 2020

As scrutiny over Wirecard and EY continue to grow, a broader debate is seeing a resurgence over what role, if any, auditors play in identifying and preventing corporate fraud. Fraud Concerns Arise. It wasn’t the first time the company’s financials came under scrutiny either. ” Swift Blowback. .

Fraud 152

Fraud Report Company Regional 152

Abrigo

JANUARY 4, 2023

Guidance for banks on the lookout for crypto scams and fraud The turbulent cryptocurrency scene should put bankers on high alert. Takeaway 1 Cryptocurrencies are the newest and most popular field in potential financial gains through fraud. But with increased popularity comes more opportunity for fraud. DOWNLOAD WHITEPAPER.

social media 195

social media Fraud cryptocurrency Trends 195

Abrigo

JANUARY 31, 2023

Takeaway 2 Banks should be proactive in understanding fraud trends and FinCEN priorities to prepare for future rulemaking. The next expected rulemaking will revise FinCEN’s customer due diligence (CDD) rule to bring current regulations in line with the first two rules. billion to fraud in 2021, a 70% increase over the prior year.

Fraud 195

Fraud Training Regulation Trends 195

PYMNTS

DECEMBER 11, 2019

regulators have been keeping a close eye on the HBOS fraud case , which involved a reported conspiracy among HBOS bankers in various markets working with external consultants to load SMB clients with debt. A 2017 trial related to the case led to six people being sentenced to jail for their participation in the fraud.

Fraud 100

Fraud Regulation Report Groups 100

PYMNTS

JULY 2, 2018

Despite a regulation crackdown and other issues, investors have continued to fund cryptocurrency startups in 2018, with ICOs raising $11.8 This year’s surge comes as ICOs have faced stricter scrutiny from regulators like the U.S. This year’s surge comes as ICOs have faced stricter scrutiny from regulators like the U.S.

Regulation 101

Regulation cryptocurrency Fraud Analysis 101

PYMNTS

DECEMBER 13, 2019

Platforms are doubling down on security in the wake of embarrassing data breaches and steady consumer fraud complaints, but it’s a fluid situation. Within less than five years, payment platforms will be valued at $154 billion annually, much of that in the travel markets. The happier story, by comparison, is payments.

Fraud 130

Fraud Millennials Comparison Online 130

Insights on Business

MAY 6, 2019

Payment fraud detection has always had a bit more latitude than its counterparts in anti-money laundering, customer due diligence and even trade surveillance compliance. Unlike the latter areas, fraud prevention is an area not as heavily governed by regulations or specific rules of what a financial institution should or should not allow.

Fraud 102

Fraud Regulation Compliance Analytics 102

PYMNTS

SEPTEMBER 23, 2020

Plus, the State Administration for Market Regulation in China has fined Luckin Coffee and other firms. Chinese Regulator Fines Luckin, 43 Other Companies In Fraud Case. The regulator said on Tuesday (Sept. PayPal, Mastercard Add 5 EU Countries To Debit Card Offering.

Cards 214

Cards Google Regulation cryptocurrency 214

PYMNTS

JUNE 24, 2020

As the Wirecard scandal unfolds, SoftBank Group Corp. Within days, Braun, 50, was arrested on charges of accounting fraud and market manipulation. is facing questions about its investment in the embattled German payment services provider, CNBC reported. billion euros ($2.1

Fraud 262

Fraud Groups Report Security 262

Abrigo

AUGUST 19, 2022

Takeaway 1 Regulators recently reminded financial institutions to have risk-based customer due diligence ( CDD ). The Federal Financial Institutions Examination Council’s BSA Examination Manual lays out procedures for regulators to follow when preparing for and delivering exams and frequently includes the term “risk-based.”

ATM 195

ATM Regulation Fraud Policies 195

PYMNTS

JULY 16, 2018

Cryptocurrencies such as bitcoin and ether don’t pose much of a risk to global financial stability at the current time, but that isn’t stopping global regulators from creating a framework to monitor risk from cryptocurrency. The move on the part of global regulators comes as the Securities and Exchange Commission in the U.S.

Regulation 110

Regulation San Francisco Bitcoin cryptocurrency 110

PYMNTS

NOVEMBER 8, 2020

Now, Reuters reported Amazon is lodging a complaint with India's market regulator. The whole controversy has likely damaged Amazon's ties with Ambani, who is Asia's richest man, and the Reliance group, fast spreading in the region as a leader in eCommerce. But Future said that order is non-binding. On Saturday (Nov.

Retail 230

Retail Industry Regional Groups 230

Abrigo

MARCH 22, 2023

A well-known example of a TBML system is the Black Market Peso Exchange , where U.S. Read now Means and methods How trade-based money laundering works In recent years, investigations have documented how terrorist organizations work with transnational organized crime groups to facilitate terrorist financing.

Training 195

Training Fraud New Jersey Regulation 195

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.

Fraud 248

Fraud Tools Data Examples 248

PYMNTS

AUGUST 2, 2019

Data storage firm Seagate revealed that it has moved its anti-fraud blockchain project with IBM into the pilot stage. The regulation applies to individuals, companies and brokerages, and includes crypto-related activities such as buying and selling, donations, barters, deposits, withdrawals and more. “The

blockchain 148

blockchain Fraud Data Report 148

PYMNTS

SEPTEMBER 8, 2020

The eCommerce company is reportedly paying the ransom , the hackers claim, though it is unclear exactly how the cyberattack group was able to gain access to the company's data. 1 million was stolen from the City of Industry via invoice fraud, claims officials in the California city. and elsewhere. million per targeted attack.

Company 174

Company Los Angeles Fraud Data 174

PYMNTS

OCTOBER 4, 2019

Visa Powers Revolut’s Global Expansion Into 24 New Markets. 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. Top Stories.

Fraud 108

Fraud Google Apple Chicago 108

PYMNTS

JULY 17, 2020

For example, The Journal reported that Lloyds Banking Group PLC’s dent of 120 million ($137 million) was sold at around 18 cents on the euro to distressed debt hedge funds. While Wirecard touted deals with SAP SE, Zurich Insurance Group and SoftBank Group Corp., billion went missing from two Philippines banks. .

Fraud 150

Fraud Community Groups Regulation 150

FICO

MARCH 10, 2022

I’ve been writing recently about the results of our recent global consumer fraud survey. But like most things, it’s not as simple as it sounds, as large customer groups are likely to switch banks if they are dissatisfied with their response to a fraud management incident (more on that in a moment). a biometric). a password).

Fraud 52

Fraud Survey Cards Customer Experience 52

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 such, we’ve seen a slow emergence of a black market for the sale of fake vaccine passports and it is on its way to becoming a lucrative industry in 2022. Related scams have also been on the rise.

Fraud 52

Fraud Management Data Trends 52

Abrigo

JULY 14, 2023

For example, say your management and board’s strategy for the upcoming year is to grow the CRE loan portfolio by 10%, and the institution needs to consider expanding into new markets to achieve this goal. 2) Owner versus non-owner occupied, and (3) Individual or related group of borrowers. CRE portfolio credit attributes.

Strategy 195

Strategy Data Analytics Analysis 195

PYMNTS

DECEMBER 18, 2019

UK Regulator Looks To Expand Open Banking Beyond Banking. billion in new financing in a drive for fundraising headed up by Goldman Sachs Group, Inc. The International Data Corporation forecasted the worldwide “earwear” market to nearly double by 2023. Apple dominates the wearables market, leading with its AirPods.

Apple 130

Apple Fraud Payments Regulation 130

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.

Fraud 52

Fraud Cards Analytics Oakland 52

PYMNTS

JULY 21, 2020

Plus, Alibaba’s Ant Group plans to file an initial public offering (IPO). Ant Group Preps For One Of Biggest IPOs In History. Ant Group, the online payments division arm of Alibaba Group Holding Ltd., Radius Bank: Becoming Partners In Crime Prevention Can Help FIs Beat Fraud Rings. s FinTech sector.

Fintech 140

Fintech Groups Payments Mobile 140

Abrigo

AUGUST 20, 2021

The FBI explains TOC groups are “self-perpetuating associations of individuals who operate, wholly or in part, by illegal means and irrespective of geography.” Crime proceeds linked primarily to the national sector such as fraud, burglaries, theft, robberies, loan sharking or protection racketeering were not included in these estimates.”.

Training 195

Training Strategy Fraud National 195

PYMNTS

JANUARY 20, 2019

Reuters , citing Pinduoduo, said the group took advantage of a loophole on the platform to steal the vouchers. The company’s marketplace enables consumers to group together so they can get a deeper discount on a variety of products from gadgets to clothing. billion in the second-biggest U.S. listing of a company from China.

Apple 148

Apple California Fraud Regulation 148

PYMNTS

MARCH 20, 2020

But Michael Ellis, head of commercial at Equiniti Group’s EQ Riskfactor , said the market is also quickly discovering that lenders themselves can benefit from unlocking data to improve SMB financing operations, and the U.K.’s “Regulation around open banking has certainly been of great benefit to businesses in the U.K.,

Lending 233

Lending Data User Experience Fraud 233

Abrigo

FEBRUARY 25, 2022

Takeaway 3 Keep an eye on updates to changing markets, including cannabis and antiquit ies trading . Codified risk-based approach The AMLA codified the risk-based approach for the first time, and a thorough risk assessment is necessary to justify businesses to your regulators. ?As What to Watch.

Regulation 195

Regulation Policies Compliance Washington 195

PYMNTS

JUNE 29, 2020

With the exception of a small development branch office, no insolvency applications have been filed by (Wirecard) Group companies at present.”. Markus Braun, Wirecard’s 51-year-old founder and CEO, was arrested last week on charges of manipulating the market and misrepresenting accounts. billion that may not exist.

Cards 204

Cards Fraud Regulation Management 204

PYMNTS

JANUARY 30, 2019

The global economy offers a wide range of opportunities for businesses to expand their reach, and promote their brands to new markets. The challenges faced by merchants, banks, FinTech firms, retailers and other players looking to expand globally are also creating a market for potential solutions to their KYC and AML needs. In the U.K.,

How To 170

How To blockchain Compliance Regional 170

PYMNTS

OCTOBER 27, 2020

HIVE Blockchain Technologies, Riot Blockchain and Marathon Patent Group are on the uptick, according to the report, which was published early Tuesday (Oct. The Monetary Authority of Singapore will reportedly regulate the platform. Blockchain industry stocks are on the rise as bitcoin reaches new heights, Seeking Alpha reported.

Bitcoin 267

Bitcoin Industry blockchain cryptocurrency 267

PYMNTS

DECEMBER 24, 2020

Or maybe that cryptocurrencies have yet to go mainstream beyond the headlines because fraud still lurks. At a high level, that means helping crypto companies and FinTechs come to market with crypto payments across the Visa rails. Keeping An Eye On Fraud. It all depends on how you look at it — and where you look, of course.

cryptocurrency 258

cryptocurrency Bitcoin Course Boston 258

PYMNTS

AUGUST 3, 2020

For example, fraud across all financial products in the U.K. Laing also noted that regulations governing customer authentication are growing stricter than ever. And what we’ve got our minds on now is very much what else we can bring to the market that would provide an advantage to our customers.”. rose 33 percent in April.

Fraud 225

Fraud Online Data Tools 225

PYMNTS

DECEMBER 20, 2019

Apple, Facebook, Google and Amazon have all been in the cross-hairs of regulators around the globe, and several probes by the U.S. In September, the search giant was fined almost 1 million euros to authorities in the country to take care of a probe regarding fiscal fraud. government are happening as well.

Google 131

Google Comparison United States Regulation 131