PYMNTS

AUGUST 19, 2019

As reported earlier this week, a new strain of ransomware has been hitting US firms and firms based overseas. The threat actors realized they can amplify their impact by targeting specific companies such as managed service providers,” said Bennett. Fraud that was in turn prevented by the unit amounted to as much as $8.2

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PYMNTS

SEPTEMBER 21, 2020

Consumers are using mobile apps’ order-ahead features and loyalty perks more often during the COVID-19 pandemic, yet chargeback fraud — also known as friendly fraud — is unfortunately also rising. A Proactive Approach To Friendly Fraud. Friendly fraud often develops around online promotions at restaurants.

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PYMNTS

DECEMBER 30, 2020

Connecticut-based People’s United Bank has seen this trend in action in recent months, said Karen Boyer , the financial institution's vice president of financial crimes and fraud intelligence. This online commerce shift has brought with it an increased risk of fraud, however. Debit Fraud Threats In The Time Of eCommerce.

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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. As digital migration accelerates, managing authentication and online fraud while optimizing the consumer's experience has become one of our customers' top challenges,” Equifax CEO Mark W.

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PYMNTS

JANUARY 10, 2017

It’s early in 2017, but fraud looms like Nosferatu chancing upon the sleeping maiden. As so much business moves online, he said, with that $8 billion figure (writ much larger internationally), the question becomes how to minimize threats while maximizing revenues without forcing the tradeoff of security and convenience for the customer.

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PYMNTS

MARCH 12, 2019

Mastercard announced Tuesday (March 12) that it has inked a deal to acquire Ethoca , a global provider of technology to identify and resolve fraud in digital commerce. In a press release , Mastercard said Ethoca enables merchants and card issuers to collaborate in real time to fight digital commerce fraud.

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PYMNTS

NOVEMBER 3, 2020

While FinTech innovation has opened up the doors for small- to medium-sized businesses ( SMBs ) to access more sophisticated solutions to manage money, software fatigue has business owners overwhelmed by a barrage of siloed systems. According to Yakov, before the pandemic, about 65 percent of The OLB Group's merchant base were not online.

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FICO

MAY 19, 2020

History tells us that things like natural disasters, times of economic instability, and fears of recession or unemployment provide the perfect environment for increased fraud and financial crime. So, I thought I would outline my top 5 fraud manager considerations during COVID-19.

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PYMNTS

OCTOBER 24, 2018

When it comes to deploying corporate resources in the battle against online fraud and account takeovers (ATOs), all too often, guiding principles fail to spot what’s really happening to a business in real time. It turns out that, for online retail last year, the “fraudliest day” was Dec. Thumbs Down On Rules Of Thumb?

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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.

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PYMNTS

OCTOBER 12, 2016

11) the launch of its Centrix Dispute Tracking System (CentrixDTS) Fraud Alerts module, an add-on to the case management and Regulation E compliance platform financial institutions use for both fraud and non-fraud transaction disputes. billion-asset Gesa Credit Union, in the same press release. . ”

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PopularBank

OCTOBER 4, 2022

An unauthorized debit card transaction can be an early signal that you’re the victim of debit card fraud. In 2021, The Federal Trade Commission reported nearly 69,000 cases of consumer-reported debit card fraud in the U.S. Practice safe fraud protection. Notify us of any suspicious activity immediately.

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PYMNTS

MAY 10, 2016

There’s a type of fraud that plagues fleet managers, and the problem is growing louder, according to oil giant Shell. A research report commissioned by the company found that fleet managers across the globe consider fuel-related fraud a significant problem for their corporations.

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PYMNTS

DECEMBER 13, 2016

With headquarters in King Of Prussia, Pennsylvania, Radial provides major brands and merchants with fraud, payments and tax solutions, as well as a host of other commerce technology solutions. “We We’ve settled into providing services as a payments and fraud business.”. Radial knows a thing or two about fighting fraud. “We’ve

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PYMNTS

MARCH 22, 2018

Fraud detection startup Sift Science has raised $53 million in a series D round, bringing its total amount raised to $107 million. Founded in 2011, Sift Science plans to use this latest round of funding to grow its fraud detection and prevention product globally. For example, Palo Alto-based Simility received $17.5

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FICO

JULY 1, 2022

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. Ulisses Okamoto , Fraud Risk Management Superintendent at Itaú Unibanco (Brazil). by TJ Horan.

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PYMNTS

MAY 26, 2016

TransUnion is betting big on Dashlane , a password management company that enables users to monitor their online identities across multiple sites and apps, by leading a Series C funding round for the startup. The password and online identity management startup is now used by more than 5 million consumers across 150 countries.

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PYMNTS

NOVEMBER 23, 2020

That’s a silly simplification of the very serious matter of what AI is doing for the restaurant sector, among others, as online ordering becomes a way of life and not just a lockdown relic. AI is not only being adopted to improve workflows and grow revenues, but has also been enlisted in the fight against fraud.”.

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Independent Banker

OCTOBER 1, 2022

Financial fraud and cyber attacks aren’t a one-age-fits-all scenario. Community banks can find ways to mitigate age-related fraud through technology, as well as by educating their customers of their particular risks. We look at community banks’ options for fighting this type of crime. By Katie Kuehner-Hebert. Rehman Khan, Travelers.

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Insights on Business

NOVEMBER 26, 2019

Fraud prevention is about who you can trust. But for customers, both actual fraud attacks as well as incorrectly blocked legitimate transactions represent a breach of that trust. But for customers, both actual fraud attacks as well as incorrectly blocked legitimate transactions represent a breach of that trust.

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Insights on Business

NOVEMBER 26, 2019

Fraud prevention is about who you can trust. But for customers, both actual fraud attacks as well as incorrectly blocked legitimate transactions represent a breach of that trust. But for customers, both actual fraud attacks as well as incorrectly blocked legitimate transactions represent a breach of that trust.

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South State Correspondent

JANUARY 23, 2023

How Bankers Will Use This Amazing Tool Bankers can use ChatGPT in various ways to improve their productivity, operations, and customer experience. Below are 15 of our favorite ways that gave us the greatest boost in productivity: 1) In place of search: The considerable advantage of ChatGPT is the aggregation and synthesis of knowledge.

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FICO

FEBRUARY 9, 2022

This shift has created significant opportunities for local banks, however with this growth comes the inevitable threat of increased fraud, exacerbated by the Covid pandemic and the explosion in ecommerce and card-not-present fraud. Expansion Brings Fraud Challenges.

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FICO

SEPTEMBER 14, 2021

A few weeks ago US economists were surprised when the Commerce Department reported that retail sales rose by 0.6% As consumers flock back to stores , some may be surprised and delighted to learn that they can use popular person-to-person (P2P) payment apps like Venmo and PayPal at the cash register. QR Codes and Fraud.

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PYMNTS

MAY 20, 2020

For merchants and financial institutions (FIs), the “new normal” of commerce — done increasingly online — means that battling fraud is a bit like feeling an elephant. The pandemic has paved the way for fraudsters to try new avenues of attack, and is laying bare the limitations of the fraud prevention tools currently deployed.

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FICO

FEBRUARY 23, 2016

FICO was among the select companies that independent research firm Forrester invited to participate in its Q1 2016 Forrester Wave report, Enterprise Fraud Management. In this evaluation, FICO was cited as a leader in enterprise fraud management (EFM). January 26, 2016). For more information, see our news release.

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PYMNTS

APRIL 22, 2016

Regardless of the company, its industry, its customers or location, online fraud remains top of mind. The urgency of robust and multilayered fraud detection systems becomes especially clear against a backdrop where card-not-present fraud is likely to grow by leaps and bounds in the wake of the EMV liability shift from last year.

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FICO

AUGUST 21, 2020

There’s one fraud pattern that’s highly predictable: when the economy goes down, fraud goes up. When it comes to fraud and COVID-19, the Great Recession of 2008 provides some important lessons that can help banks and consumers protect themselves against the increased risk. A Resurgence of Specific Fraud Types.

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NCR

NOVEMBER 7, 2016

One year on from the launch of EMV chip technology for payment cards in the US, the signs are positive as far as tackling fraud is concerned. Mastercard – the ‘M’ in ‘EMV’ – released figures showing a significant fall in the cost of counterfeit card fraud for US retailers who have adopted EMV.

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Ublocal

FEBRUARY 15, 2023

From Mobile Banking and Online Banking , to secure P2P Payments and Advanced Fraud Protection and Security , we strive to keep our customers, and their assets, safe, while conveniently accessible online. We’re excited to announce our latest technological offering—online account opening.

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PYMNTS

SEPTEMBER 14, 2018

On the Project Verify website the companies point out that despite the rise in online fraud and data breaches, both consumers and businesses are still reliant on passwords and log-ons that are easily forgotten and/or are easy to crack.

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PYMNTS

DECEMBER 14, 2020

Payment service provider PayFort , which is based in the Middle East and North Africa (MENA) region, has changed its name to Amazon Payment Services, a letter from Managing Director Omar Soudodi stated, and it will now offer installment payments. In June, PayFort debuted its #StartUpStayUp initiative for Middle Eastern small businesses.

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FICO

NOVEMBER 24, 2020

As many of us who have long been in the industry know, fraud remains a top challenge for debit cards. billion in gross (attempted) debit card fraud and ultimately incurred losses of over $1 billion on debit and ATM transactions; the need for an effective solution to this problem has never been greater. In 2019 issuers faced $4.2

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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.”. One of the key themes that stood out for us is the level of ‘social engineering’ criminals are now using.

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FICO

OCTOBER 12, 2020

This has yielded a rise in medical equipment fraud and put banks’ fraud detection systems into overdrive. Spending and Fraud Surge on PPE and Telemedicine. For purposes of examining fraud, medical spending comprises two main categories, the first of which is Medical and Laboratory Equipment Supplies.

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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. No one used it,” he lamented. “It

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FICO

JANUARY 22, 2021

Last year I blogged a lot about how payments and fraud patterns have changed. But despite the COVID pandemic having effected massive changes in the ways consumers transact, credit card fraud is still a “thing,” and a big, ever-changing thing at that. Fraud Numbers Vary Widely. Credit Card Fraud Tactics and COVID-19.

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