PYMNTS

AUGUST 19, 2019

Ransomware groups tend to target people in the Anglosphere, who are seen as able to pay and deserving of what they get. Gary Robinson, who serves as head of DCPCU, said that online conduits are gaining favor from fraudsters to further their schemes. Fraud that was in turn prevented by the unit amounted to as much as $8.2

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PYMNTS

JUNE 18, 2020

The London-based trade group for Europe’s ePayments community is waiting for the European Banking Authority , the European Union (EU) banking regulator, to provide the 27-nation bloc with an update on Strong Customer Authentication (SCA). But this has not been true for online transactions. Vendorcom wants answers.

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PYMNTS

JANUARY 21, 2020

Advances in fraud decisioning have cybercrooks scrambling into the new arcana of synthetic identities and fiendish mass bot attacks, looking for any possible opening to exploit. Some industries are more prone than others, as we discovered in the latest Fraud Decisioning Playbook , a PYMNTS and Simility collaboration.

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Fraud social media ATM Industry 131

PYMNTS

OCTOBER 14, 2016

The same premise holds true today and poses a knotty question in online commerce and FinTech: How do you know the person on the other end of a transaction is really who they say they are? Trust would be the operative word in the relationship between individuals and the firms with which they seek to do business.

Fraud 100

Fraud Online social media Risk Management 100

PYMNTS

APRIL 14, 2017

While the fraud ecosystem continues to rapidly develop and advance, big data may prove itself to be a strong weapon in combatting fraud. With that thought in mind, DataVisor set off on a mission to utilize harness and analyze that could potentially detect fraud and protect billions of users around the world.

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PYMNTS

JUNE 20, 2019

Retailers focused on combating fraud have credit cards in the cross-hairs of their efforts. But ramping up the war on card fraud can introduce a new risk to companies: false positives. This isn’t merely an issue for the B2C world, however. The False Positive Threat.

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Fraud Payments Cards Strategy 182

PYMNTS

MARCH 20, 2020

Fraud attacks’ frequency and complexity will likely continue to rise despite merchants’ best efforts to prevent them. The Latest Fraud Decisioning Developments. Malware targeting computers running the Windows 7 operating system were especially hard-hit, rising 125 percent, according to the report.

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Industry Fraud social media Security 225

PYMNTS

OCTOBER 21, 2019

But an anonymous public letter posted online warned the group’s supervisory board members that they could possibly face personal liability if they chose not to investigate credible fraud allegations. This isn’t the first time FT has published a report accusing Wirecard of accounting fraud.

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Fraud Operations Groups Report 103

PYMNTS

MAY 7, 2020

Many are instead flocking to online gambling sites after the closure of all 989 commercial and tribal casino properties in the U.S. However, it can take a long time for online players to collect funds, unlike at casinos, where consumers can instantly collect winnings in cash. The ways gambling winnings can be paid out in the U.S.

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Online New Jersey Pennsylvania Regulation 142

PYMNTS

FEBRUARY 19, 2019

One day — maybe one that has already happened for some PYMNTS readers — we might look back with fondness and nostalgia on that time when chargebacks stood as the main worry merchants and other organizations faced when it came to fraud and risk. That’s where Kevin Lee comes in. Changing Scope. The stakes could hardly be higher. Insult Rate.

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PYMNTS

APRIL 22, 2019

The company recently announced a new online solution for onboarding fund houses. Meanwhile, Spanish banking group BBVA is tapping photo- and video-based document and biometric verification measures to secure its digital onboarding. How DraftKings Keeps Fraud Out of Fantasy S ports. customers now onboard digitally.

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Fraud Security Online Video 143

PYMNTS

JULY 6, 2017

With the speed of payments accelerating and Same Day ACH initiatives continuing to roll out, NACHA has pulled together a group of industry experts to explore API standardization as a way to facilitate faster payment speeds and greater transaction security, among other use cases.

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Fraud Payments Groups Industry 198

PYMNTS

MARCH 12, 2020

Payment processors expanding their operations into new industries and markets have their work cut out for them, however. Each sector and country encounters different fraud types that providers must be ready to detect and thwart. Buy online, pickup in store (BOPIS) purchasing is one example. Understanding The Merchant Sector.

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Fraud Analysis Regional Examples 130

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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Fraud Wisconsin Data social media 176

PYMNTS

AUGUST 1, 2018

Three people associated with the hacking group FIN7 — also known as Carbanak — were arrested in Europe and are facing charges in the United States. The group was able to steal $1.2 Europol contended that the group has been operating since 2013 and has members in 40 countries around the globe. Hladyr is already in U.S.

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Groups United States ATM Fraud 101

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. million per targeted attack. According to Stuff.co.nz

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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

PYMNTS

JANUARY 1, 2021

As reported in this space , the DSA and DMA cover online marketplaces, social media and other platforms. The proposal also mandates more disclosure on "online advertising and on the algorithms used to recommend content to users.". In China, of course , Ant Group is reportedly being told to switch focus back to payments business.

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Regulation social media Course Apple 352

FICO

MARCH 1, 2022

Fiserv, a leading global provider of payments and financial services technology solutions, has developed a new fraud mitigation service that has reduced fraud losses, which were already low by industry standards, by 10 to 15% for its small to midsize credit union and bank clients. Keeping Up With The Fraudsters.

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Fraud Analytics Cards Tools 52

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

FEBRUARY 1, 2017

At the same time, the risk of fraud has never been higher and is still increasing — and the true costs of card-not-present fraud hit both the top and bottom lines of retailers simultaneously, while doing damage to reputations as well. When it comes to fighting fraud, there is a two-tiered model that is emerging. percent.”. “And

Fraud 100

Fraud Retail Cards Samsung 100

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.

Fraud 52

Fraud Trends South Carolina Risk Management 52

PYMNTS

JULY 21, 2020

Plus, Alibaba’s Ant Group plans to file an initial public offering (IPO). In a deal expected to create the world’s largest online classifieds company, eBay Inc. has agreed to sell its ad division to Adevinta ASA, the Norwegian online marketplace, for $9.2 Ant Group Preps For One Of Biggest IPOs In History.

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Fintech Groups Payments Mobile 140

PYMNTS

MAY 30, 2016

has put forth proposals that would require the customers of banks – not the banks themselves – to cover the cost of fraud. It’s a major turnaround from an industry that routinely covers the cost of fraud whether the customer or the bank is at fault. As the fallout over SWIFT’s cyber breaches continues, the U.K.

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Fraud Security Online Compliance 100

PYMNTS

JULY 20, 2017

Digital Shadows , the industry leader in digital risk management, revealed its findings on the changing habits and tactics of organized credit card fraud gangs, discovering a new trend in the form of remote learning “schools.”. In just two of the most popular ‘carding’ forums, 1.2

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Study Online Course Cards 124

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.

Fraud 100

Fraud Idaho Innovation San Francisco 100

PYMNTS

APRIL 26, 2020

According to the warrant, the seller then engaged with an undercover Homeland Security operative, talking about how cool it would be to sell “fake testing kits” with coronaprevention.com. The seller expressed a disdain that he couldn’t do it himself, not having enough funds to buy them from Chinese eCommerce site Alibaba.

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Bitcoin blockchain Fraud New York 154

PYMNTS

APRIL 9, 2020

million ransom to get their systems back online, The Wall Street Journal reported. The hacking group, also known as REvil, told the BBC that they gained access to the company’s computer network last year and downloaded 5GB of sensitive customer data. You are one of those that’s most likely to pay up,” he said.

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Report Groups Data Cards 279

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

Fraud 72

Fraud Regional US Cards 72

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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Fraud Cards Analytics Oakland 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.

Fraud 100

Fraud Trends Payments Retail 100

PYMNTS

AUGUST 3, 2020

Scandal-plagued German FinTech pioneer Wirecard counted among its payments processing clients an online casino that laundered money for an arm of “one of Europe’s most dangerous mafia organizations,” the Financial Times reported on Monday (August 3). ‘Ndrangheta operates from the Calabria region in Southern Italy.

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Regional Online Fintech Regulation 362

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. Last year we predicted that scams would become the leading fraud type in 2021, and the most recent research from UK Finance confirmed it. 70% of those scams originated on an online platform.

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Fraud Management Data Trends 52

PYMNTS

SEPTEMBER 2, 2020

Fast Track provides startups, like California-based online payments processor Checkbook, a way to access Visa's growing network with experts who can provide guidance in helping them operate efficiently. “To The card features a one-time use 16-digit number with a pre-determined spending limit that is emailed to the recipient.

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Cards Fintech California Fraud 213

PYMNTS

DECEMBER 18, 2019

billion in new financing in a drive for fundraising headed up by Goldman Sachs Group, Inc. The digital world — especially that of online travel — is still rife with fraud, but the defensive security measures currently in play alienate and inconvenience customers. Goldman Leads $1.75B Line Of Credit For WeWork.

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Apple Fraud Payments Regulation 130

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.

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Fraud social media Marketing Operations 150

PYMNTS

JUNE 4, 2020

Financial institutions (FIs) are working during the pandemic to provide speedy digital services while fighting off the rise in fraud attempts. FIs have long provided digital services, but many have designed these experiences for the customer demographics that most prefer online and mobile channels. Read more in the Tracker.

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Report Fraud Security Fintech 158