PYMNTS

DECEMBER 14, 2020

Treasury and Commerce departments are unable to protect their digital databases, lesser organizations would be seemingly hard-pressed to prevent similar security breaches. SolarWinds’ customer list on its website reads like a Who’s Who of American government, industry and academia. The thinking goes that if the U.S.

Security 214

Security US Washington Software 214

PYMNTS

OCTOBER 13, 2017

When the impact stretches across oceans, nations and demographics, though, and those affected number in the hundreds of millions, a sea change is a-swelling. PYMNTS asked nine executives from a cross-section of the payments industry for their thoughts on how Equifax changes everything, and how it doesn’t. That cat’s never coming back.

Industry 144

Industry Security eBook Data 144

PYMNTS

JULY 30, 2020

With so much highbrow industry chatter about topics like payments fraud detection, it’s good to remember that this is actual crime-fighting. On the FBI’s Cyber Most-Wanted list are nationals of at least a half-dozen countries, some with state-level backing. The Fatigue-Fraud Connection. Check it out.

Fraud 142

Fraud US Data Analytics 142

PYMNTS

MAY 10, 2019

prosecutors have charged a Chinese national for his alleged involvement in the 2015 data breach at health insurance company Anthem , which led to the theft of 78.8 businesses operating in four distinct industry sectors, and violated the privacy of over 78 million people by stealing their PII. million records. businesses. businesses.

National 115

National Data Indianapolis Fraud 115

Abrigo

JANUARY 17, 2024

FinCEN data shows that human trafficking in the United States takes place in a wide variety of industries—hospitality, agriculture, janitorial services, construction, restaurants, domestic work, and so on. The United Nations estimates there are currently 40 million people enslaved around the world, and that one-quarter of them are children.

Training 259

Training Community Software Texas 259

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.”

Conference 195

Conference Payments Fraud Data 195

Perficient

APRIL 2, 2021

The five federal agencies are: the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board (Fed), the National Credit Union Administration (NCUA) and the. fraud detection and financial crime monitoring). Office of the Comptroller of the Currency (OCC).

Regulation 309

Regulation Industry Risk Management Analysis 309

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.

Fraud 52

Fraud social media Cards Security 52

PYMNTS

MARCH 18, 2019

Authenticating.com is working to combat identity fraud by combining different solutions to securely automate and outsource identity verification and fraud prevention as a service. billion in losses due to cybercrime, with various forms of identity fraud topping the list.

Fraud 108

Fraud Knowledge Base Regulation Data 108

Abrigo

FEBRUARY 9, 2024

The proposed rule is part of a requirement of the Anti-Money Laundering Act of 2020 (AMLA) to initiate transparency within the real estate industry. residential real estate sector but safeguarding our economic and national security.” Know the red flags for money laundering. Illicit actors are exploiting the U.S.

Training 195

Training Fraud Trends Report 195

PYMNTS

JULY 2, 2018

Payment security technology provider Wibmo is rolling out an upgraded anti-fraud solution for its bank customers to safeguard their electronic payments services. The solution replaces eGuard, its first-generation fraud protection solution. In a press release issued late last week, Wibmo – which is based in the U.S.

Fraud 100

Fraud Leadership National Security 100

PYMNTS

JUNE 13, 2019

It’s undeniably advantageous to the world economy, with a recent study finding that national digital ID systems could induce GDP growth of up to 13 percent. Experiencing such gains comes with risks, however, as digital IDs have presented new and underexplored avenues for fraud. The Drawbacks of Complex Security. More than 4.5

Security 129

Security blockchain San Francisco United States 129

PYMNTS

JANUARY 8, 2020

Facial authentication and cloud-based subscription services are particularly popular, with applications ranging from unlocking personal smartphones to providing secure access to top-secret government facilities. A multitude of security issues continue to plague the space, however, despite this optimistic future of digital identity.

Fraud 169

Fraud Cards Security National 169

PYMNTS

JUNE 16, 2020

Cyberattacks against the financial industry have jumped by 238 percent in just the first five months of the year, VMware, Inc. They spoke before the Subcommittee on National Security, International Development, and Monetary Policy Tuesday. Head of Cybersecurity Strategy Tom Kellermann said, testifying before a U.S.

US 227

US Cyber Security Security National 227

PYMNTS

JANUARY 18, 2017

The National ATM Council (NAC) argued in testimony to the Committee on Consumer Affairs of the New York City Council last week that a proposed ordinance would impose costly and burdensome new security regulations on ATM operators all around the city. said Renard in the same press release.

ATM 100

ATM National New York City New York 100

PYMNTS

DECEMBER 14, 2020

At a time when our nation’s secrets at the NSA and Homeland Security and assets at the Department of the Treasury were able to be illicitly tapped into by foreign hackers, the security and reliability of countless other online industries and enterprises have also been brought into question. Not All Bad.

Google 192

Google Security Washington Risk Management 192

PYMNTS

AUGUST 28, 2019

We are excited to bring our secure and scalable technology to Azure customers as we continue working with Microsoft Azure Marketplace to develop cloud-enabled blockchain solutions.”. And the United Kingdom’s National Liberal Party (NLP) has posted what it believes is the only coherent policy regarding cryptocurrencies.

Policies 116

Policies National cryptocurrency Bitcoin 116

PYMNTS

JULY 25, 2017

The impact of online fraud reaches far beyond the dollar count of sales lost. . In recent studies, as noted by EKN Research and Radial, developed nations are seeing an increase in card not present (CNP) fraud, which now accounts for as much as 70 percent of all card fraud and is growing at double-digit percentage rates in some nations. .

Fraud 120

Fraud Retail Cards National 120

PYMNTS

SEPTEMBER 18, 2020

While some banks enable voice technology to make payments, check account balances and make transfers, the technology raises concerns regarding security, data privacy and dispute resolution. Nacha was originally known as the National Automated Clearing House Association. It was developed by the Cybersecurity Response Project Team.

Payments 220

Payments Exercises Resources Fraud 220

PYMNTS

NOVEMBER 7, 2016

Last week, the Fed’s Secure Payments Task Force called for comment from industry stakeholders about what challenges they face when it comes to payments security. “The Secure Payments Task Force is particularly interested in understanding any barriers that may exist to implementing the planned solutions.”

Security 193

Security Payments Survey Innovation 193

FICO

NOVEMBER 15, 2021

This week is International Fraud Awareness Week — but every week is Fraud Awareness Week for FICO, as we focus on helping banks and other financial institutions worldwide detect and manage fraud. Fraud is a big burden for such organizations but there are of course other victims – people just like you and me.

Fraud 105

Fraud Course Examples US 105

Abrigo

JANUARY 3, 2024

The final access rule does not dictate how to receive consent and allows for flexibility based on differences in FIs across the nation. FIs must certify that the BOI will be held securely and that the FI has received approval from the reporting entity to access their ownership details. Beginning Feb. Talk to a specialist to learn more.

Fraud 221

Fraud Regulation Report Compliance 221

PYMNTS

JANUARY 31, 2019

The growth of Same-Day ACH seems to also suggest that previous concerns about the risk of more fraud as a result of accelerated transactions has not held the industry back from adopting the functionality. Accelerated payments are taking off in several markets around the world, and NACHA’s latest figures demonstrate U.S.

Fraud 182

Fraud Payments Compliance Regulation 182

Insights on Business

FEBRUARY 13, 2019

Gary Meshell, WW Leader Financial Services, IBM Security, opened his IBM Think 2019 talk, How Financial Services Companies Should Respond to Cyber Security Attacks with a bold assertion and truism. IBM and TD Bank jointly developed cyber security incident response solution for the financial services industry.

Cyber Security 137

Cyber Security Security Exercises social media 137

PYMNTS

OCTOBER 8, 2020

one of the biggest payments processors in the world, one of the top 3 banks in Brazil, one of the big four banks in Australia, the largest national card processor in Europe, and several others),” according to the release. The company says its fraud solution works to decrease costs and more efficiently target the activity.

Report 247

Report Fraud Risk Management America 247

PYMNTS

MAY 10, 2018

In an interview with PYMNTS, National Business Systems VP David Riley noted a lack of awareness in the field for smaller firms across several verticals. We have some sectors that are hit hard with EMV fraud and others that are barely touched,” Riley explained. “I

National 130

National System United States Fraud 130

PYMNTS

MAY 10, 2016

The financial services industry gets hit with more fraudulent invoices than any other industry, found a recent report from eInvoicing firm Tungsten Network. But Tungsten Head of Compliance Lucy Ashdown offered her take on the company’s research to discuss why FinServ firms might be seeing more invoice fraud than other industries.

Fraud 100

Fraud Compliance Security Industry 100

PYMNTS

SEPTEMBER 20, 2016

19) that its Payment Fraud Manager tool detected more than 90 percent of fraud while reviewing only 2 percent of the transactions. According to the company, the new ACH predictive model uses a data consortium model to help stop fraud before a payment leaves the originating financial institution. ”

Fraud 100

Fraud Tools Management Payments 100

South State Correspondent

OCTOBER 25, 2023

The banking industry, pushed by the events of 9/11, moved to check imaging by the Check 21 Act in 2003. The channel is not secure, and any criminal can steal, forge, or alter the checks almost at will. In addition to the logistics of check clearing and the availability of fraud, settlement is no easy feat.

Fraud 195

Fraud ATM Payments Management 195

CFPB Monitor

JULY 27, 2020

The OCC issued a letter last week stating that “a national bank [and a federal savings association] may provide. Banks should also have effective information security infrastructure and controls in place to mitigate hacking, theft, and fraud. The OCC will review these activities as part of its ordinary supervisory processes.

National 113

National cryptocurrency Risk Management Regulation 113

PYMNTS

NOVEMBER 20, 2019

Mobile order-ahead has had an outsized impact on the entire restaurant industry, with a recent study finding that only 15 percent of restaurant meals are eaten on-premises, down from 40 percent several years ago. Fraud is a constant concern for QSRs and their customers. Deep Dive: Exploring The Rise Of Gift Card Fraud.

Fraud 111

Fraud Mobile Study Cards 111

PYMNTS

FEBRUARY 15, 2017

Aiming to beef up security in connected and driverless cars , a group of lawmakers have introduced a bipartisan bill in the House of Representatives that would put the National Highway Traffic Safety Administration (NHTSA) in charge of studying security issues for cars and trucks that are connected and eventually driverless.

Study 120

Study Security CA National 120

Abrigo

FEBRUARY 6, 2020

foreign policy and national security goals to secure the global financial system and protect the United States from the threats of terrorism, human and drug trafficking, and economic damages. For example, with respect to economic sanctions against Iran, OFAC is keeping a close watch on the petrochemicals and metals industries.

United States 195

United States Compliance Strategy National 195

PYMNTS

SEPTEMBER 28, 2016

Can a smartphone keep you and your money safe from fraud? According to the Brazilian financial services firm, launched in 2014, it boasts a fraud rate just one-tenth that of larger banks and financial institutions. The rise of digital and mobile technology has made preventing fraud much more challenging for financial service providers.

Security 100

Security Mobile Fraud United States 100

PYMNTS

JULY 11, 2016

Late last week, The Register reported that 105 suspects of credit card fraud were arrested in Asia and Europe after a cybercrime ring was busted by authorities. The investigation spanned two continents and targeted the fraud gang, which was led out of Malaysia and eventually reached 14 countries in Europe.

Fraud 100

Fraud Cards ATM Groups 100

PYMNTS

FEBRUARY 6, 2020

based technology in all 56 of our field offices and spanning just about every industry sector,” Wray said. At the end of 2018 , the United States Department of Justice (DOJ) said it was going to charge two Chinese nationals for a hacking campaign that affected multiple companies and the military, including 100,000 members of the U.S.

United States 151

United States US National Fraud 151

PYMNTS

NOVEMBER 27, 2019

Tencent, Xiaomi and Ant Financial are among the Chinese tech giants partnering with artificial intelligence (AI) firm SenseTime in an effort to standardize the facial recognition industry, Abacus reported on Wednesday (Nov. As facial recognition becomes more common, Chinese consumers are starting to air complaints about data privacy.

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Regulation National Security Technology 130