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. Fraudsters just need to be well-informed and reasonably good at social engineering.

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Fraud Handbook Security Comparison 253

Independent Banker

NOVEMBER 30, 2021

As more customers moved online, fraudsters took advantage of new and increasingly inventive opportunities to commit remote authentication fraud. Say a scammer calls a community bank customer and gains their trust by using information obtained from a major data breach. Examples of remote authentication fraud. New account fraud.

Fraud 160

Fraud Strategy Community Bank New York City 160

PYMNTS

SEPTEMBER 28, 2020

PYMNTS' September Preventing Financial Crimes Playbook , done in collaboration with NICE Actimize , analyzes the pandemic-era fraud landscape and identifies its many pitfalls. This fraud targets all demographics and generations, with U.S. This fraud targets all demographics and generations, with U.S.

Fraud 202

Fraud United States Examples cryptocurrency 202

FICO

MAY 18, 2023

The innovative pay-as-you-go solution allows Dock’s clients, including banks, fintechs, and retailers, to intercept fraudulent transactions and protect their operations, while also improving the user experience. The fraud prevention solution is based on FICO® Falcon® Fraud Manager and FICO® Customer Communication Services (CCS).

Fraud 52

Fraud Technology social media Innovation 52

PYMNTS

SEPTEMBER 18, 2019

Mobile and online banking providers have been upping their fraud protection measures over the last decade, making it more difficult for bad actors to rely on some of the schemes that previously worked in such channels. Banks are dealing with rapid rises in fraud schemes such as ATOs, synthetic identity fraud and account opening fraud.

Fraud 195

Fraud US Tools Strategy 195

FICO

JANUARY 12, 2022

The changing global regulatory landscape and ever-shifting fraud vectors are just two of the biggest challenges facing financial institutions. I recently sat down with Sidhartha Dash, Research Director at Chartis Research, for a conversation about the technology and trends in enterprise fraud management.

Fraud 52

Fraud Technology Management Trends 52

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. That information can include whether consumers are authenticated and where the point of sale is located.

Fraud 311

Fraud Payments Cards Security 311

PYMNTS

SEPTEMBER 17, 2019

Banks lost about $4 billion to account takeover (ATO) fraud attempts last year and fraudsters have been reluctant to abandon the scheme as this year progresses. Fraudsters made off with account numbers and other personal details, which could later be used for different synthetic identity fraud or related schemes. digital bank Monzo.

Fraud 196

Fraud Digital Banking Delaware Tools 196

PYMNTS

NOVEMBER 19, 2020

The technology is also credited with helping them meet diners’ demands for seamless purchasing experiences as well as enabling them to battle fraud. . Lots of companies have a lot of product mix information, and an AI platform can easily take that information and use it to make better decisions,” he said.

Boston 200

Boston Fraud Meeting Mobile 200

PYMNTS

MAY 4, 2020

Customers and merchants rely on their banks and credit unions (CUs) to ensure they have secure, convenient online transactions, and many FIs work to detect fraud by looking for abnormal purchasing behaviors that could indicate something is amiss. Around The FI Fraud Decisioning World.

Fraud 197

Fraud Data Tools Online 197

PYMNTS

APRIL 24, 2020

As Thorness explained, their embrace of ACH processing technologies is likely to have far-reaching impacts into how they send and receive payments with government suppliers, too, particularly as ACH innovation accelerates. The key is the remittance information that needs to be associated with B2B payments.” ” .

Innovation 161

Innovation Payments System Data 161

PYMNTS

MAY 24, 2016

It’s no secret that, as fraudsters continue to evolve and increase the sophistication of their tactics, the­ fraud prevention landscape must do the same in order to stay one step ahead. It’s really a symbol that the market, as well as the technology that exists in the market, is beginning a transformation,” Zielke explained.

Fraud 138

Fraud Innovation Retail System 138

Perficient

FEBRUARY 29, 2024

Driven by technological advancements, regulatory changes, and shifting consumer preferences, the banking industry must evolve and respond accordingly. Explore and integrate alternative data sources and innovative scoring models to offer fairer assessments of creditworthiness.

Trends 221

Trends Industry Analytics Compliance 221

PYMNTS

JULY 24, 2019

Fraudsters are muscling their way into new territories when it comes to how they approach consumers for their personal information. Around the Digital Fraud World. Fraudsters are getting bolder with their scams and the technologies they use to enact them. A Global Team Is Essential To Fraud Protection, Says N26.

Fraud 129

Fraud Strategy US United States 129

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.

Fraud 136

Fraud Tools Security Examples 136

PYMNTS

FEBRUARY 11, 2020

To help diners make the best use of their mobile devices to order meals, quick-service restaurants (QSRs) are tapping into mobile innovations. Technology that lets diners place their orders for pickup or delivery has become more common, and mobile devices are serving more restaurant functions than they have in the past.

Mobile 144

Mobile Innovation Fraud Branding 144

PYMNTS

JULY 21, 2020

They are going to have to update how they mitigate and control fraud and risk and update their systems. Unfortunately, it’s not just the chaos that is causing these problems, it’s inherent inadequacies in the technology itself. Before, there was not as much attention paid as there needed to be.”. There’s No Time To Waste.

Fraud 160

Fraud System Maryland Michigan 160

PYMNTS

MARCH 17, 2020

Simply put, the back-office systems are ill-equipped to handle the demands of technological innovation, especially as financial services cross channels. The Challenges Of Multi-Channel Payment Innovation. For many firms, with legacy infrastructure that has been in place for decades, scale becomes difficult.

Innovation 228

Innovation Payments System Security 228

PYMNTS

MARCH 17, 2020

With a new solution announced Tuesday (March 17), identity trust and digital fraud protection firm Kount seeks to help people avoid the pitfalls and annoyances of account takeover fraud. Some of the data sets will include user type, device specifics, IP risk, geolocation and custom data.

Fraud 132

Fraud Data Company Technology 132

PYMNTS

SEPTEMBER 19, 2019

This has become a larger problem for FIs as they must not only deal with protecting customers from fraud, but also guard against bad actors armed with 4.1 Account opening fraud is a favorite tactic among such cybercriminals, many of whom rely on these credentials to pose as legitimate customers. billion stolen credentials.

Fraud 144

Fraud Data Mobile Tools 144

PYMNTS

JULY 10, 2020

Speaking with PYMNTS, Muller highlighted the opportunity that the cannabis space has to adopt payments and other financial technologies that have leapfrogged over legacy solutions. Muller explained that the technology augments existing rails like eCheck and ACH to enhance data capture and transmission to complete a transaction.

Innovation 210

Innovation Payments Tools Compliance 210

PYMNTS

JANUARY 8, 2021

Equifax has inked a deal to purchase artificial intelligence (AI)-powered fraud prevention and digital identity technology provider Kount for $640 million. Kount’s staff members will become a part of Equifax’s United States Information Solutions (USIS) business unit and will still be based in Boise, Idaho, according to a Friday (Jan.

Idaho 295

Idaho Fraud United States Customer Experience 295

PYMNTS

JUNE 11, 2019

Payment fraud is an ideal use case for machine learning and artificial intelligence (AI), and has been used by financial institutions (FIs) to great effect. In fact, a typical consumer who gets a fraud alert might not even know there was an algorithm working behind the scenes that spotted suspicious activity. Most FIs (63.6

Fraud 140

Fraud System Innovation Data 140

PYMNTS

OCTOBER 22, 2020

A major provider of financial technology to banks, Mitek Systems said its digital identity verification software will now incorporate near-field communication (NFC) technology as well. Mitek, a top developer of digital identity verification and mobile check deposit technology, announced on Thursday (Oct.

Technology 134

Technology Comparison Security Customer Experience 134

PYMNTS

OCTOBER 16, 2020

Harnessing consumers’ digital information is critical to the success of any business, and data analytics and artificial intelligence (AI) can be especially powerful tools. Fast-food giant McDonald’s was not interested in using AI or data analytics until it noticed that many of its competitors were benefiting from the technologies.

Analytics 273

Analytics Data Fraud Tools 273

PYMNTS

JUNE 22, 2017

Fighting fraud is a lot harder online, and a lot harder for merchants and consumers, as card-not-present transactions become the preferred method of malfeasance. In one recent announcement, payments provider TSYS and real-time learning technology platform Featurespace said they were joining forces to offer fraud prevention tools.

Fraud 162

Fraud Tools Cards Online 162

PYMNTS

OCTOBER 21, 2020

Spend controls were the focus of innovation in the commercial card space this week thanks to feature and program launches. This week’s commercial card innovation tracker includes a rollout of the next generation of authorization controls from Comdata Inc., as well as the launch of the Flex by Finaxar initiative from Finaxar.

Cards 130

Cards Innovation Management Fraud 130

PYMNTS

JUNE 24, 2020

With corporate travel still on pause, commercial card innovation has taken a different direction. Elsewhere, a cyberattack raises concerns about the vulnerability of employee data when commercial card information is compromised. Nium Uses Cards For Credit. Cognizant Cyberattack Hits Biz Cards. Swile Lands VC For Corporate Meal Card.

Cards 131

Cards Innovation Tools Capital 131

PYMNTS

JULY 25, 2019

Customers have varying banking needs, but the global fraud phenomenon tends to have equal impacts. Challengers see fraud protection as especially important, particularly as they attempt to ween customers away from legacy FIs and their own nimbler FinTech competitors. Bringing a global fraud approach to a new local market.

Fraud 164

Fraud Marketing US Resources 164

Perficient

DECEMBER 18, 2023

By adopting a proactive stance and leveraging technological advancements, financial entities can navigate the regulatory landscape with greater resilience and efficacy. Technological Advancements and Cybersecurity As the financial industry embraces technological advancements, the risk of cyber threats and data breaches has escalated.

Regulation 473

Regulation Compliance Exercises Guidelines 473

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

Fraud 110

Fraud Security Retail Tools 110

PYMNTS

MAY 24, 2019

The Financial Crimes Enforcement Network ( FinCEN ) is launching an initiative called the FinCEN Innovation Hours Program, as a call to private sector companies that have developed tech to fight money laundering and terrorist financing, the organization said in a release. FinCEN expects to hold events in the Washington, D.C.

Innovation 124

Innovation US Metro Washington 124

PYMNTS

MAY 28, 2020

The bank robbers who decades ago would have pulled off in-person heists have in many cases instead become cybercriminals who hack into mobile accounts, purchase stolen credit card information on the dark web and impersonate customers online or over the phone. Staying ahead of fraud requires constant innovation.

Fraud 139

Fraud Mobile Tools Missouri 139

Insights on Business

AUGUST 22, 2018

IBM RegTech Innovations. Regulatory change is growing in size and IBM’s innovative end-to-end GRC solution , powered by Watson, is enabling the financial services industry to meet this challenge. An innovative, end-to-end approach. IBM’s innovative technology , powered by Watson, offers that end-to-end approach.

Compliance 79

Compliance Innovation Technology Policies 79

PYMNTS

DECEMBER 31, 2019

Navigating the sheer multitude of options and matching information across several companies’ systems can be challenging. The following Deep Dive further explores how paper-based methods can result in processing delays and how new, cutting-edge payment innovations can drive accounts payable (AP) automation. Manual processing challenges.

Innovation 153

Innovation Payments Survey blockchain 153

PYMNTS

JULY 2, 2020

How FIs Adapt Fraud Detection During Times of Behavioral Upheaval. This information enables the banks to better determine when customers are exhibiting unusual activities, which could indicate that fraudsters have taken over their accounts. Find more about these and the rest of the latest headlines in the Tracker.

Fraud 222

Fraud Cards Florida Trends 222

Insights on Business

OCTOBER 3, 2018

IBM RegTech Innovations. These technologies bring capabilities that speed risk modeling, automate fraud detection, ensure regulatory compliance, enable distributed trust, and protect sensitive financial information. Key Areas for Digital Disruption within Financial Services. Pay close attention to cybersecurity.

Industry 155

Industry Innovation blockchain Compliance 155