Abrigo

JULY 25, 2023

How offering FedNow instant payments affects fraud & AML/CFT compliance What financial crime staff can do to prepare fraud and AML functions for implementing the FedNow Service for instant payments. Would you like other articles on fraud and AML/CFT compliance in your inbox? Instant payments service What is FedNow?

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Fraud Payments Security Resources 195

Abrigo

OCTOBER 19, 2023

It’s the time of the year when we celebrate Cybersecurity Awareness Month, a global initiative to raise awareness and educate people about the importance of staying safe and secure online. The campaign has also evolved to reflect the changing nature of cyber threats and the emerging technologies that enable them.

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Online Security Resources Training 221

PYMNTS

DECEMBER 16, 2020

The industry as a whole lost $165 billion in revenue between March and July, and it is on track to lose $240 billion by 2021 — with the decline expected to continue until the pandemic abates. Mobile ordering apps are largely responsible for keeping the industry above water, but fraud still plagues the sector.

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PYMNTS

MARCH 27, 2020

The financial industry is particularly vulnerable to digital fraud. Application fraud, which sees cybercriminals submitting financial product applications to banks with no intention of paying them back, is among the most popular techniques. Defining Application Fraud.

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Fraud Technology Knowledge Base Study 208

PYMNTS

JANUARY 27, 2021

The banking industry faces many day-to-day business challenges, including competition with digitally native FinTechs and the ubiquitous social distancing restrictions brought on by the pandemic. This increased digital presence also brings a greater risk of digital fraud, however. The Fraud Threats Facing Digital-First Banks.

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PYMNTS

DECEMBER 29, 2020

With digital transactions and eCommerce soaring during the pandemic, the rate of increasingly sophisticated fraud has also risen. So it’s important for industry to support them aligned with the obligations they face under the Bank Secrecy Act,” he said. Can you really know your customer if you don’t know their location?”

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PYMNTS

DECEMBER 18, 2020

The past year has been — by almost any measure — one of the hardest ever for the restaurant industry, with the ongoing pandemic hurting few sectors more than hospitality and dining. These growing revenue streams carry their own risks, however, not the least of which is their propensity to be targeted by fraud.

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PYMNTS

OCTOBER 8, 2020

The growing cost of online fraud – and finding ways to detect it – has long been a costly concern of financial institutions (FIs). He said banks and payment processors already have this technology on hand – they’re just not using it correctly. . If you beat the geolocation fraud, you beat all the fraud,” Briggs said.

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PYMNTS

JANUARY 25, 2021

The banking industry is still grappling with the pandemic’s unprecedented effects, including a broad digital shift across numerous sectors. This increased digital engagement can create challenges, however, as it opens up new avenues for fraud in addition to making transactions more convenient for customers.

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PYMNTS

JUNE 23, 2020

Federal Reserve has introduced a new effort to combat payments fraud. “We are proud to be an early adopter of the RTP network, which demonstrates our commitment to be at the forefront of technology and payments and allows Chesapeake Bank to continue to meet our customers’ needs now and in the future.” In the U.S.,

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Fraud Community Bank Virginia Community 266

Perficient

FEBRUARY 22, 2023

Perficient is looking forward to bringing our unique combination of automation technical know-how along with financial services and payments industry expertise to the Banking Automation Summit in Charlotte, North Carolina on March 2-3. Banks are using AI to analyze large amounts of data, make predictions, and automate complex processes.

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PYMNTS

JANUARY 20, 2020

Fraud protection techniques have advanced rapidly over the past decade to keep pace with fraudsters preying on emerging weak points. Banks, businesses and others still have numerous fraud problems to address, from text-based scams and phishing to synthetic identity theft. Fraudsters and the Access Problem.

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Fraud Tools Security Examples 136

Independent Banker

NOVEMBER 30, 2021

As more customers moved online, fraudsters took advantage of new and increasingly inventive opportunities to commit remote authentication fraud. These types of scams fall under the broad term of remote authentication fraud, and they’re increasingly common—and inventive. Examples of remote authentication fraud. New account fraud.

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Fraud Strategy Community Bank New York City 160

PYMNTS

OCTOBER 30, 2020

In today’s top news, Mastercard reveals its AI tool Cyber Secure to help banks fight cyber breaches, and Amazon reported record-setting earnings. Mastercard’s Cyber Secure Uses AI to Help Banks Fight Cyber Fraud. Likewise, Alphabet reported a strong Q3, thanks in large part to renewed consumer spend.

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PYMNTS

DECEMBER 21, 2018

Before the liability shift in 2015, the industry-wide prediction was that the onset of EMV would reduce occurrences of counterfeit card fraud in-store, but that the industry should expect to see a spike in card-not-present (CNP) fraud as fraudsters moved to easier targets. The Consumer As A Frontline Against Fraud.

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Fraud Tools Cards Security 187

PYMNTS

AUGUST 22, 2019

FinTech firms are tapping into automation and training to stay on top of the latest security developments, while keeping an eye on evolving trends in the payments space. Fraud, for instance, is an ongoing threat, with nearly three-fourths of U.S. financial institutions reporting growing losses attributed to online and mobile fraud.

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Fraud Fintech Training Security 142

PYMNTS

OCTOBER 19, 2020

The following Deep Dive explores cross-border payments’ challenges, including time-consuming government inspections, lack of transparency and the potential for fraud. The biggest hurdle the cross-border payments industry faces is navigating the networks that govern payment flows in every correspondent bank through which funds pass.

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Technology Payments Security Survey 193

Independent Banker

OCTOBER 1, 2022

“The knowledge we have cultivated over years of circumventing attacks means that we have a depth of understanding about cyber and data security that the general population doesn’t—and those are lessons we can share.”. When it comes to fraud, you don’t know what you don’t know, and what you don’t know can greatly influence your bottom line.

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Fraud Community Bank Community Training 136

PYMNTS

JANUARY 16, 2020

Today’s fraudsters are practiced and well-equipped, making proper data and consumer identification a must to maintain a successful business in any industry. However, to do so, these companies will need to make some adjustments to their fraud protection strategies. The Latest Fraud Decisioning Developments.

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Fraud Tools Data Industry 133

PYMNTS

FEBRUARY 19, 2020

What’s clear is that fraud decisioning solutions have never been more necessary, as cybercrime enters a new phase of sophistication, diabolical creativity and global scale. Bottom line: Fraud losses are expected to hit $48 billion annually by 2023 – more than double the 2018 losses. Sealing It.

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PYMNTS

OCTOBER 9, 2020

The reverberating economic uncertainty and drastic shifts the pandemic has brought upon most industries have handed cybercriminals unique and multiplying opportunities to enact new and improved schemes. found that 32 percent of consumers have been targeted by some type of pandemic-related fraud , for example.

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Fraud Security Mobile Examples 208

FICO

MAY 18, 2023

The fraud prevention solution is based on FICO® Falcon® Fraud Manager and FICO® Customer Communication Services (CCS). The fraud prevention solution is based on FICO® Falcon® Fraud Manager and FICO® Customer Communication Services (CCS). Dock began implementing Falcon Fraud Manager in 2019 and added CCS in 2020.

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Fraud Technology social media Innovation 52

PYMNTS

SEPTEMBER 10, 2019

Companies therefore must either invest in teams of AML specialists or in fraud-fighting technologies. . The September AML/KYC Tracker examines the latest fraud challenges and efforts to ensure tight security and compliance. . How Mobile Financial Startups Can Bridge the Security Gap. Around the AML/KYC Worl d.

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Security Fintech Fraud Compliance 185

Independent Banker

JUNE 30, 2022

What is synthetic identity fraud? In recent years, the emergence of synthetic identity fraud has highlighted many gaps in legacy systems’ ability to keep up with tech-savvy fraudsters. The challenges of synthetic identity fraud. Exposure to synthetic identity fraud increases with digital adoption.

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Fraud Training Leadership Resources 91

PYMNTS

OCTOBER 14, 2020

Restaurants are working overtime to ensure their ordering systems are as friction-free and secure as possible, with many deploying advanced technologies to do so. Some players in the food service industry are tapping advanced technologies to improve and streamline their ordering operations. About the Tracker.

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Analytics Fraud Data Mobile 161

PYMNTS

SEPTEMBER 21, 2020

Artificial intelligence (AI) can improve the eCommerce experience – not just in terms of warding off fraud, but also in making sure payments can be processed efficiently and that the most effective payment gateways are accessed. There are many ways in which the payments industry is looking at AI,” said Ranta.

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Fraud Payments Cards Security 311

PYMNTS

SEPTEMBER 24, 2018

Perhaps more troubling, however, is digital fraud’s projected future. Recently published research noted global fraud losses could top $6 billion by 2021, more than doubling the $3 billion lost worldwide in 2015. As such, businesses are now investing in their security and fraud prevention technology and solutions.

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Fraud Security Analytics Data 195

PYMNTS

FEBRUARY 17, 2020

The travel industry may have seen exceptional growth in recent years, but the space has also toted the heavy baggage of rising fraud costs. Fraud could cost the market more than $25 billion this year, and approximately 20 percent of attempted travel-related transactions are confirmed to be fraudulent. Overcoming legacy systems.

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Security Tools Fraud System 141

PYMNTS

JULY 25, 2017

Technological advances are pushing the boundaries for what’s possible in a variety of industries. Within the retail industry specifically, artificial intelligence (AI) is moving the ball for a lot of merchants looking to not only streamline their business operations but provide a more personalized experience for consumers.

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PYMNTS

JANUARY 25, 2021

Jonathan Hughes, co-founder and CEO of Pollinate , shares his thoughts on why, and how, the payments industry must support the small businesses coming out of the crisis. The good news is that throughout 2020, the payments industry has been rapidly innovating and seeking to simplify and automate processes for merchants and consumers alike.

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Industry Payments Fraud How To 155

PYMNTS

MAY 5, 2020

In an interview with PYMNTS, Mitch Pangretic, senior vice president of strategic partnerships at Elan , said that in-person card fraud may have decreased thanks to EMV chips and multi-factor authentication, but card-not-present (CNP) scams are increasingly gaining traction.

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Cards Fraud Guidelines Mobile 197

PYMNTS

OCTOBER 11, 2018

Cyberattacks on banks have become seemingly inevitable, with banks and financial institutions (FIs) at risk of losing as much as $100 billion to online fraud every year. FIs hoping to win the fight against fraud are increasingly embracing new tools and technologies like machine learning (ML) and artificial intelligence (AI).

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Security Trends CA Apple 173

PYMNTS

FEBRUARY 24, 2020

“While the tax-themed email attacks hit businesses in all sectors, we also saw financial firms and construction industries targeted disproportionately,” wrote Sherrod DeGrippo, who published the research on ProofPoint’s website last week. The construction industry targeting, in particular, is a reminder that no one sector is immune.”.

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PYMNTS

OCTOBER 19, 2020

19) announced that its Sigma Instant Desktop Issuance product will set “the standard for simple, secure and smart instant-ID solutions across enterprise, healthcare, government, higher education and financial institutions (FIs)." One challenge for companies is maintaining “a safe and secure flow of data ?

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Banking Exchange

NOVEMBER 29, 2021

Money laundering and other types of financial crime have plagued the financial industry for years Risk Management Feature3 Feature Financial Research Duties Technology AML & Fraud BSA/AML Security Operational Risk Compliance Management Cyberfraud/ID Theft.

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Industry Risk Management Compliance Fraud 78

PYMNTS

JUNE 13, 2019

If it seems like cases of fraud and hacking are always in the news, that’s because new incidents pop up practically every day. According to the new Digital Fraud Tracker , total losses due to fraud equaled $4.2 According to the new Digital Fraud Tracker , total losses due to fraud equaled $4.2

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Fraud Security Retail Tools 110

Cisco

JULY 26, 2022

McKinsey’s “ The need for speed in the post-COVID-19 era–and how to achieve it ” survey also showed a unique difference for banking and insurance compared to other industries. They were the only two industries that selected productivity as the most common reason changes were made due to COIVID-19. Secure the brand.

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Security Operations Leadership Data 162