PYMNTS
FEBRUARY 12, 2020
As for the areas where scammers managed the biggest hits, business email compromise (BEC), confidence/romance fraud and spoofing were the top three types of crime in terms of monetary losses. BEC fraud does not respect seniority, and it pays exceedingly well.”. billion (or slightly over half) of all losses tracked in 2019.
PYMNTS
JUNE 26, 2018
on Tuesday (June 26) announced it is proposing changes to complaint handling rules to help victims of authorized push payment (APP) fraud. there were 43,875 cases of authorized push payment fraud, amounting to total losses of £236 million in 2017. The FCA takes push payment fraud and the harm it causes to consumers very seriously.
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PYMNTS
AUGUST 5, 2019
If there was a handbook for how to become a successful fraudster, the first sentence of the first chapter would go something like this: “Go where the money is.”. Check fraud has become increasingly sophisticated and digital, just like every other form of payment fraud over the last decade. The Whole New World of Check Fraud.
FICO
JUNE 2, 2020
As a fraud professional, I am passionate about fighting financial crime — yet, at the same time, I tout the importance of balancing security with the customer experience. It came as a big shock, then, when I found myself in the middle of a fraud investigation — by my own wireless provider! (My My former wireless provider, I will add.).
FICO
MAY 19, 2020
History tells us that things like natural disasters, times of economic instability, and fears of recession or unemployment provide the perfect environment for increased fraud and financial crime. So, I thought I would outline my top 5 fraud manager considerations during COVID-19. Examples include fake emails from CDC, WHO, and FEMA.
PYMNTS
MARCH 29, 2019
To take a phrase from the journalist’s handbook: Trust, but verify. The goals of any digital identity verification process or technology include stopping fraud in its tracks, preventing fake accounts from ever being opened and, at the most basic level, maintaining (and even building) a client’s reputation for trustworthiness.
Abrigo
JUNE 4, 2019
The FFIEC IT Examination Handbook goes into more detail and states that “large and complex institutions should have a change management policy that defines what constitutes a change and establishes minimum standards governing the change process.” Fraud scenarios that use single- and multi-channel fraud detection? Now that's big.
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