PYMNTS

NOVEMBER 17, 2020

Onboarding these customers can be a tedious challenge prone to fraud and consumer frustrations, and the industry faces the ever-looming threat of SIM swap fraud. The following Deep Dive explores how robust digital identity practices can help mitigate both of these problems. How Onboarding Harshens The New Phone Buzz.

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PYMNTS

DECEMBER 8, 2020

The holidays aren't always so cheery as the risk of fraud plagues consumers and retailers alike. With the pandemic accelerating a surge in eCommerce volumes, online fraud threats are at their peak, and everything from chargeback fraud to online product scams are dampening the holiday spirit. Corporate-Facing Fraud.

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PopularBank

APRIL 18, 2024

Yet, despite advances in bank fraud protection, scammers continue to develop and deploy sophisticated—and successful—methods. Earlier this year, the Federal Trade Commission announced over $10 million in fraud losses in 2023, up 14% from the previous year. Thieves attempting bank fraud may try one or more of the following scams.

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PYMNTS

SEPTEMBER 21, 2020

Consumers are using mobile apps’ order-ahead features and loyalty perks more often during the COVID-19 pandemic, yet chargeback fraud — also known as friendly fraud — is unfortunately also rising. A Proactive Approach To Friendly Fraud. Friendly fraud often develops around online promotions at restaurants.

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PYMNTS

OCTOBER 19, 2018

At the least, it won’t get any better — not according to any anti-fraud expert who is worth their rate. Every business must decide its comfort level with fraud and how much risk to take on, a concept discussed in depth during a new PYMNTS digital discussion, featuring Karen Webster and Kevin Trilli, chief product officer at Onfido.

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Independent Banker

OCTOBER 1, 2022

Financial fraud and cyber attacks aren’t a one-age-fits-all scenario. By identifying the preferred banking and spending habits of different generations, scammers can tailor how they reach their targets. Reports about fraud losses: Millennials vs. people 40+. How to minimize age-related fraud.

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Fraud social media Millennials Examples 133

Abrigo

OCTOBER 19, 2023

Training and resources Use Cybersecurity Awareness Month to educate For example, financial institutions can use Cybersecurity Awareness Month to: Train their employees on how to recognize and report phishing emails , which are one of the most common ways hackers try to trick people into revealing their credentials or installing malware.

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South State Correspondent

MAY 13, 2024

The major themes of fraud, artificial intelligence (AI), expansion of instant payments, open banking, and regulation were particularly relevant to your roles as executives, risk managers, compliance officers, and technology leaders. Unfortunately, most banks don’t gather fraud data across payment channels or track “pre-crime events.”

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PYMNTS

OCTOBER 5, 2020

In response to the numerous incidents, the BBB has laid out some guidelines for how to approach potential scams, the report stated. No Cash App employee will ask for a person's sign-in code over the phone or social media, and they would never ask for payment or work with sensitive information like one's full bank account number.

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social media Guidelines Fraud Report 255

FICO

DECEMBER 5, 2022

Top 5 Surprises from FICO’s Fraud and Digital Banking Survey. Our survey found that good fraud protection is paramount for customers - even though they themselves may exaggerate income or claims. A report released by the FTC in February 2022 indicates a 71% increase in fraud in 2021, which cost consumers roughly $5.8 FICO Admin.

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PYMNTS

JUNE 21, 2019

How To Build A High Performing Platform Payments Fraud Team. For digital platforms, fraud represents a two-headed beast. As largely online operations, they are tempting targets for fraudsters and hackers — therefore, robust anti-fraud systems are vital. Trackers and Reports.

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FICO

JANUARY 29, 2020

Did you know that more than one million American children were victims of identity fraud in 2017? This shocking statistic was a major driver for me to pore over article after article, looking for the causes and solutions – and put on my hat as both a fraud fighter and a parent. . This is a behaviour we parents can very much control. .

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CFPB Monitor

SEPTEMBER 22, 2020

The workshop will cover a broad array of topics within the FTC’s jurisdiction, including truth-in-advertising law, social media marketing, data security, business-to-business fraud, and other business basics. The Truth About False Advertising (an overview of the FTC’s truth-in-advertising expectations).

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FICO

JULY 17, 2020

This is an extremely challenging and growing problem for fraud managers. Another approach is to communicate an informative message to the customer directly when your fraud analytics recognizes behaviour that is out of sync with their normal spending. Fraud rings that target mules are usually organised fraud rings.

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PYMNTS

APRIL 24, 2018

With the advent of technology and the prevalence of online shopping, the term eCommerce fraud has become more general and more vague. Riskified provides resources for companies that are unsure how to do this, he said. Furthermore, they can enrich this data using social media accounts. Nipping Fraud in the Bud.

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PYMNTS

MAY 25, 2020

Digital fraud and other forms of financial crime are also on the rise due to the uncertainty and confusion surrounding the crisis. Twenty-two percent of Americans have reported being targeted by COVID-19-related fraud, and these scams have seen more than $1.2 COVID-19-Related Fraud. Several banks in the U.K. One bank in the U.K.

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Fraud social media Security Guidelines 167

FICO

MARCH 26, 2018

This is the first in a series of articles in which we tackle some of the most topical fraud issues and decisions facing fraud managers today. Not only is the customer experience diminished, but in these days of social media, the disgruntled customer may take to Twitter or Facebook to vent their frustrations.

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FICO

APRIL 28, 2021

Let’s take a look at some of the scams we’ve seen popping up, and run through a checklist of how to protect yourself and your loved ones. . Early on in the pandemic, FICO detected a 3x surge in medical equipment fraud. Three men were charged with conspiracy to commit wire fraud in a criminal complaint filed Feb. Numerous U.S.

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FICO

MAY 19, 2021

What Is First-Party Fraud? From banks to telcos to debt collection agencies, what looks like unrecoverable bad debt may in fact be first-party fraud. For many people, the word “fraud” evokes images of shadowy criminals using stolen identities and purloined credit card information to commit financial crimes. by Matt Cox.

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FICO

AUGUST 3, 2022

Fraud Ideas from FICO World 2022 – and Excitement for 2023! FICO World 2022 was an excellent event with a stellar fraud protection and compliance track - here's some of what we learned. Synthetic Identities and Application Fraud. Innovative Customer Communications for Fraud. Tue, 07/02/2019 - 02:45. by TJ Horan.

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BankBazaar

MAY 18, 2020

This has been accompanied by an increase in cyber frauds as well. Here’s how you can stay protected. . This has been marked by an increase in digital frauds as well. Among all digital channels, the one that has seen the most rise in frauds is the Unified Payment Interface (UPI). Phishing scams.

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NCR

JULY 31, 2017

As we explored in the first part of this two-part guide, digital banking fraud is an escalating threat to financial institutions and their customers. Digital banking fraud can take many forms, such as identity fraud and account takeover , which are becoming increasingly common. million in 2016. million in 2016.

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FICO

MAY 19, 2021

For many people, the word “fraud” evokes images of shadowy criminals using stolen identities and purloined credit card information to commit financial crimes. Perhaps surprisingly, consumers sometimes use their own personal information to commit fraud. Both of these crimes are first-party fraud.

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PYMNTS

FEBRUARY 6, 2018

Perhaps the last and best hope in the battle against ID fraud – the kind that brings ruin to credit reports and billions of dollars in losses to card companies and merchants. This is the percentage of new account fraud victims who discover they are, well, victims when they are contacted by a debt collector. Digital DNA.

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PYMNTS

AUGUST 15, 2019

When the reporting news outlet reached out to Instagram about the issue, the company said it was trying to figure out how to fix it. social media agency called Hydrogen said that “mass viewing of Instagram stories is the new buying followers of 2019,” in reference to how people used to try gaming the system on Facebook to get more friends.

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social media Community Report System 108

PYMNTS

SEPTEMBER 2, 2019

How to deal with this threat come election time is something U.S. AI and machine learning do play vital roles in stopping fraud and other attacks on social media and elsewhere. Deepfakes of this kind can believably impersonate famous personalities and make them say whatever the aspiring faker types.

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Policies social media Fraud Video 139

FICO

DECEMBER 20, 2022

5 Ways Digital Payments Will Change FIs and Fraud in 2023. Financial institutions (FIs) are not letting fraud trends like scams fade into background noise, but fraud awareness is rising among customers and both the banks and customers are eager to mitigate as much as possible. FICO Admin. Tue, 07/02/2019 - 02:45. by TJ Horan.

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PYMNTS

DECEMBER 3, 2018

In a press release , the FTC said the Consumer Sentinel Network has seen an increase in the median dollar amount people over the age of 70 are saying they lost to fraud, and when the FTC delved into the data, it found that many were being scammed by fake grandchildren. ’ – and take the cue.”

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social media Fraud Report How To 139

Qudos Bank

FEBRUARY 15, 2024

While dating apps, social media networks and gaming apps are great to connect with like-minded people, they could also put you at risk of connecting with a scammer that will manipulate you for money. After sparking your attention, they will offer to educate you on how to invest, so you too can make higher than average profits.

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social media Case Study Online Video 52

PYMNTS

AUGUST 14, 2019

It also said Thompson had said she would shoot up a social media company in California, although it isn’t known which one. However, the government also said Thompson has the technical know-how to sell the information if she did indeed have another copy.

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Perficient

OCTOBER 15, 2020

Object Storage-based Data Lake – this is a recent Youtube video from Oracle demonstrating how to set up a data lake on OCI using object storage. Demo of Setting up OCI Streaming – short, recent youtube video explaning OCI Streaming with a demo on how to set it up (non Oracle video).

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Analytics Data Video Big Data 332

PopularBank

SEPTEMBER 19, 2023

Beware of the latest bank phone call scam, which involves scammers impersonating bank call centers and fraud departments. How to spot the red flags of a bank phone call scam. The scammer claims fraud on your account. The scammer will use their fabricated fraud claims to ask you for your online banking sign in credentials.

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social media Fraud Security Online 52

PYMNTS

MAY 8, 2019

The social media giant will reportedly test the new project in India first, and it could eventually allow people to transfer money through WhatsApp. Marcus’ latest project was “setting up a small group to explore how to best leverage blockchain across Facebook, starting from scratch,” Facebook said when he left Messenger.

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blockchain social media Groups cryptocurrency 141

Qudos Bank

FEBRUARY 4, 2024

While dating apps, social media networks and gaming apps are great to connect with like-minded people, they could also put you at risk of connecting with a scammer that will manipulate you for money. After sparking your attention, they will offer to educate you on how to invest, so you too can make higher than average profits.

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social media Case Study Online Video 40

FICO

FEBRUARY 1, 2017

Funnily enough, this scene parallels the problems discussed at a FICO roundtable on ‘How to Fight Auto Loan Fraud’ held this week at the AFSA Vehicle Finance Conference & Expo. The misuse of SSNs from children and the elderly was also seen as a growing loophole for fraud and abuse.

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FICO

FEBRUARY 1, 2017

Funnily enough, this scene parallels the problems discussed at a FICO roundtable on ‘How to Fight Auto Loan Fraud’ held this week at the AFSA Vehicle Finance Conference & Expo. The misuse of SSNs from children and the elderly was also seen as a growing loophole for fraud and abuse.

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Fraud Analytics social media Data 40

PYMNTS

JANUARY 28, 2019

That stemmed from the recent Davos conference in Switzerland, where the world’s elite talked a lot about trust — more specifically, the decreasing levels of trust that the general public has for public institutions, social media, big tech and companies in general (but, apparently, not individual employers). How to Trust?

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