PYMNTS

JANUARY 13, 2021

Experts predicted that up to $190 billion would be spent online this year, a 35.8 The prevalence of online commerce opens new doors for digital fraud, however, both from career fraudsters and opportunistic customers. Phishing scams were on the rise all year, while a survey of online shoppers found that 40.3

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PYMNTS

JANUARY 4, 2019

Stepping into this world is vital for anyone serious about preparing a proper defense against online fraudsters in 2019. The 2018 holiday season has barely ended and it’s a good bet that retailers and payments players have yet to identify all the fraud that took place. More specifically, it can identify patterns that signal fraud.

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PYMNTS

OCTOBER 9, 2020

Brick-and-mortar commerce has rebounded in recent months, but consumers are still heading online for many of their purchases, maintaining trends set in the early months of the pandemic. These include running scheduled checks on their platforms to detect fraud. trillion opportunity for eCommerce retailers.

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PYMNTS

OCTOBER 7, 2020

Higher volumes of consumers are continuing to shop online even as brick-and-mortar stores reopen. The expansion of digital banking and payments has also contributed to a rise in cybercrime — 32 percent of consumers noted in one study that they had been the targets of COVID-19-related fraud, for example.

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PYMNTS

AUGUST 21, 2020

This popularity is not expected to decline once the virus wanes, with the number of online and mobile banking users expected to hit at least 3.6 ATMs are common avenues for fraud, however, especially those that are running outdated software. The Security Threats Facing ITMs And How FIs Can Protect Them. billion by 2024.

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PYMNTS

APRIL 1, 2019

When it comes to online shopping, one of the greatest frustrations for consumers — and friction points for merchants — is having to manually enter credit or debit card information for each purchase. percent of consumers today have account information stored online with at least one or more companies or service providers.

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PYMNTS

MARCH 15, 2019

The new Digital Fraud Tracker highlights the latest developments in payments fraud, and how different companies are working to keep funds safe from bad actors as payment solutions grow increasingly faster. Around the World of Digital Fraud. Australia’s CNP fraud problems seem to be part of a broader pattern.

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PYMNTS

JANUARY 30, 2020

Widely publicized data breaches and hacks have made today’s consumers especially concerned about fraud. Cautious shoppers may find comfort in debit, with fraud losses associated with the payment method declining over the past several years. Card fraud is an ever-present threat. A Big-Picture Approach To Thwarting Debit Fraud.

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PYMNTS

JUNE 9, 2020

Cybercrime is surging during the COVID-19 pandemic as fraudsters seize on increased online activity to steal consumers’ sensitive personal details. As much as 22 percent of consumers have now been targeted by COVID-19 digital fraud scams, driving a mounting need for new ways to mitigate digital fraud risks. About The Tracker.

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PYMNTS

APRIL 14, 2017

While the fraud ecosystem continues to rapidly develop and advance, big data may prove itself to be a strong weapon in combatting fraud. With that thought in mind, DataVisor set off on a mission to utilize harness and analyze that could potentially detect fraud and protect billions of users around the world.

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PYMNTS

MARCH 29, 2016

According to Rurik Bradbury, VP, Identity Solutions at TransUnion, as more stores start accepting chip-enabled cards, the spike in online fraud has been remarkable – as in remarkably bad. . As our lives become more digital by the day, our digital footprints grow, as does the possibility for compromised identities and security hacks.

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PYMNTS

JULY 15, 2019

In a new PYMNTS interview, Simon Armstrong, vice president of products for Entersekt , discussed the June release of the long-anticipated EMV Secure Remote Commerce (SRC) Specification version 1.0. And in August of last year, EMVCo announced the launch of the full EMV 3-D Secure (EMV 3DS) test platform.

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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

MAY 8, 2020

And the challenges — particularly the security challenges — existed both for the digitally native firms that suddenly found their services in-demand and rapidly scaling, as well as the Main Street SMBs that were forced to make the great digital leap forward. A New Landscape.

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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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PYMNTS

OCTOBER 18, 2018

In search of added convenience and simplicity, banking customers are migrating to online and mobile banking interfaces, leaving in-person visits to brick-and-mortar branches behind. How Banks Are Weaponizing Data To Fight Fraud. Around The Digital Banking World. About the Tracker.

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PYMNTS

SEPTEMBER 12, 2018

Omni Security and Authentication. Consumers expect to do business with their bank online seamlessly, without the hassle of complicated security checks, whether through their mobile phone, smart watch, home speaker or other connected device. Around The Security And Authentication Space. presidential election.

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PYMNTS

FEBRUARY 19, 2019

One day — maybe one that has already happened for some PYMNTS readers — we might look back with fondness and nostalgia on that time when chargebacks stood as the main worry merchants and other organizations faced when it came to fraud and risk. That’s where Kevin Lee comes in. Changing Scope. The stakes could hardly be higher.

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PYMNTS

MAY 29, 2020

We have deep dives on Main Street’s digital shift, ATM innovation and PPP loans. NEW DATA: Inside Main Street SMBs’ Digital Shift. Companies that didn’t have online shopping channels couldn’t sell their products, while eateries that didn’t provide online ordering for delivery or pickup couldn’t serve their diners.

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PYMNTS

OCTOBER 28, 2019

IDnow allows customers to verify their identity online with a phone, tablet or webcam via a process that uses image recognition. . Our investment is the result of a thematic focus on businesses that address new requirements arising from the digitalization of many financial transactions and processes, such as security,” said Hadji-Touma.

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PYMNTS

NOVEMBER 23, 2018

But those illegal marketplaces — often called the “Dark Web” — also present a juicy opportunity for those fighting fraud to detect and even preempt criminal activities than cost businesses revenue and, often, parts of their brand reputation. Early Warning Value. Enough of the basics. But that goes only so far.

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PYMNTS

JANUARY 29, 2019

For payments and commerce , there’s another uncertainty that hangs in the air: Will legal online sports betting keep going forward, despite a recent decision by the U.S. Those were the main topics in a new PYMNTS interview, featuring Karen Webster and Zac Cohen, general manager at Trulioo , a global identity verification service.

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PYMNTS

FEBRUARY 26, 2019

The Tracker also looks at the security challenges that QSRs are tackling as they work to keep fraudsters away. Yet, it’s not the only brand that’s been upgrading its mobile and online capabilities for better customer service. However, the rise of mobile ordering also comes with growth in account takeover fraud.

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PYMNTS

SEPTEMBER 13, 2018

Consumers prefer speed, convenience and ease of use over security — even when it comes to accessing financial services online. In comparison, only 45 percent said they would prefer an authentication method due to its tight data security. At the same time, though, the risk of identity theft and fraud is at an all-time high.

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PYMNTS

JULY 13, 2020

Many customers have grown accustomed to virtual tours and online onboarding processes and may not wish to return to paper-based or manual methods. One study showed that 44 percent of individuals in 2018 began their house-hunting journeys by looking up potential properties online before contacting real estate professionals.

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PYMNTS

OCTOBER 9, 2018

Consumers want to be safe – a trick in and of itself in a world where fraud and cybercrime are endemic. The new challenge is building a system robust enough to be secure, yet invisible enough so that protection is experienced without being felt. 40 percent: Share of consumers who think online security can be faster and better.

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PYMNTS

MAY 27, 2020

Fraudsters equipped with such information could then easily access victims’ online accounts using legitimate credentials and take control of the customers’ funds. The May FI Fraud Decisioning Playbook examines the issue of omnichannel fraud and the strategies that banks and CUs are using to detect and thwart it.

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PYMNTS

OCTOBER 29, 2018

But those gains come with fresh concerns about digital security. Security Vulnerabilities. The main areas of security risk? Those devices are not the microchips from those programs in Wisconsin and Sweden — nor, of course, the chips implanted into pets.

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PYMNTS

FEBRUARY 4, 2020

GDPR and PSD2 have significantly shifted how EU banks and businesses exchange online funds and consumer data. The main strength of Europe’s Open Banking legislation is also its major weakness: It applies to the entire EU. Security Concerns Mount . SCA Questions Stall Innovation. France, the U.K.

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PYMNTS

DECEMBER 20, 2019

There are plenty of opportunities for cybercriminals to wreak havoc, especially as online and mobile shoppers increase their purchasing volume for gifts and holiday travel. Cybercriminals are finding it best to embrace the omnichannel approach to fraud, where they hit every customer service channel for best results.

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PYMNTS

APRIL 16, 2019

From fuel pumps to convenience stores (C-stores), many consumers worry about the security of their personal financial information. adults are concerned about the security of their financial data when making payments at these venues. Mobile wallets , however, have advantages that span from convenience to security.

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PYMNTS

JANUARY 8, 2019

While the holiday retail rush meant big gains for some retailers, it also came with an influx of fraud, both in-store and online, as fraudsters took advantage of a high-pace, high-volume period of transactions. In fact, over 5 percent of online retail revenue is now lost to fraud. Around The Digital Fraud World.

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PYMNTS

MAY 23, 2016

Nearly nine out of 10 (86 percent) SMBs recently expressed concern about data security for their business, and more than two-thirds (67 percent) said they don’t have a great understanding of what data security means for their business. Barta says that this is MasterCard’s way of offering “a layered security approach” to the SMB.

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PYMNTS

NOVEMBER 21, 2018

The rate of contact center fraud has skyrocketed recently, growing by 350 percent during the past four years. However, call centers need to implement these security measures in a way that doesn’t introduce frictions into the customer experience.

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PYMNTS

JUNE 28, 2018

But the recent thefts, along with other attempted and completed cyberattacks, demonstrate why payments officials in the region are expressing fresh concern about financial security there. Fraud is a Top Worry. The lack of security cooperation between bankers and regulators also comes up for blame. Growing Awareness.

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PYMNTS

APRIL 15, 2019

Security solved. As it turns out, security researchers at Kaspersky Lab have found a darknet marketplace in which hackers are selling digital fingerprints. The marketplace operators sell the data to cybercriminals who use it for identity theft, online fraud and other crimes – and the data is worth anywhere from $5 to $200.

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PYMNTS

JULY 20, 2017

Digital Shadows , the industry leader in digital risk management, revealed its findings on the changing habits and tactics of organized credit card fraud gangs, discovering a new trend in the form of remote learning “schools.”. In just two of the most popular ‘carding’ forums, 1.2

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