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NYC Taxi Commission Accused Of $810 Million Fraud

PYMNTS

New York Attorney General Letitia James announced plans to sue New York City for allegedly fraudulent practices by its Taxi and Limousine Commission (TLC), according to reports on Thursday (Feb.

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Today In Payments: NYC Taxi Commission Accused Of Fraud; Apple Considers Letting Users Change Default Apps

PYMNTS

In today’s top payments news, the New York attorney general accused the Taxi and Limousine Commission of drastically inflating the price of taxi medallions, and Apple is debating letting users change their default apps. NYC Taxi Commission Accused Of $810 Million Fraud.

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Facebook Is Looking To Buy A Cybersecurity Company

PYMNTS

Facebook is reportedly gearing up to acquire a cybersecurity company in an effort to assure users that security is a top priority of the social media company. CNET , citing a report from The Information, reported Facebook has reached out to several security companies that could be takeover targets.

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Succeeding in the future of payments

Insights on Business

Customers increasingly demand new payment options like real-time payments and P2P payments, underpinned by security and trust. Exposure to operational risks, data breaches and fraud losses can rise as a consequence of adopting new payment types and channels. Applying technologies to modernize payments.

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Global Fraud Trends: What’s Happening and What’s Next?

FICO

Global Fraud Trends: What’s Happening and What’s Next? Here are the highlights from the fraud trends breakout session at FICO World 2022 with a panel of fraud professionals from Brazil, Turkey and North America. A lot has changed since the last pre-pandemic FICO World conference, held in November 2019 in New York City.

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Combating ATOs With Multifactor Authentication, Behaviors Analysis And Customer Education

PYMNTS

Creating secure banking environments without generating undue customer frictions relies on strong front- and back-end approaches to help FIs spot red flags, create login experiences that are harder for bad actors to crack and guide customers on how they can avoid falling victim to ATOs. Invisible Security.

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Signifyd Data Shows Fraud Is Actually Declining

PYMNTS

Fraud isn’t perpetrated by a random assortment of individuals; it’s organized crime. It’s “fraud as a Service.” It’s a very unfair match, if you ask Skye Spear, VP of eCommerce fraud-fighting firm Signifyd. “I Good news, of course, but that doesn’t mean the pressure is any less. Classic fraud deflection is rules-based.

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