Independent Banker

FEBRUARY 28, 2022

Kathy Strasser of IncredibleBank is evaluating marketing campaign management platforms. We asked several banking leaders how they’ve employed fintech to ramp up their marketing campaigns, hone their analytic strategies and gain new patrons in the process. Their ability to market and add banking functionality … is a natural fit.”.

Fintech 136

Fintech Marketing Community Bank Community 136

PYMNTS

APRIL 9, 2020

The Chinese Olympic Committee announced that it has received numerous warnings about illegal marketing related to the planned 2021 Tokyo Olympics. As part of the scam, the crooks may make reference to the Tokyo Olympics Torch Relay.

blockchain 166

blockchain Groups Fraud cryptocurrency 166

PYMNTS

OCTOBER 15, 2020

A recent hack compromised around 2,000 Robinhood Markets accounts, suggesting the attacks were more widespread than previously realized, Bloomberg reported. Some victims protested, saying that their accounts had been taken over, their positions liquidated and their proceeds stolen.

Report 276

Report social media Fraud Tools 276

PYMNTS

FEBRUARY 18, 2019

So much of the focus on fraud these days involves exploiting holes in software, hacking into systems to steal personal information and payment data, or otherwise using digital methods in heists. But recent news involving “death-spiral financing” reminds us that fraud is still conducted in other, relatively old-fashioned ways.

Fraud 122

Fraud Operations Security Software 122

Perficient

APRIL 2, 2021

fraud detection and financial crime monitoring). email, text, audio data), with the aim of identifying fraud or anomalous transactions. These technologies are also used to better target marketing in retail and customize trade recommendations in wealth management. Credit Decisions. Textual analysis.

Regulation 309

Regulation Industry Risk Management Analysis 309

Abrigo

JANUARY 31, 2023

Takeaway 2 Banks should be proactive in understanding fraud trends and FinCEN priorities to prepare for future rulemaking. While a BSA/AML program is now officially referred to as an AML/CFT Program, “BSA Officer” is a title required by law and remains unchanged, as does compliance with the BSA. That represents nearly 2.8

Fraud 195

Fraud Training Regulation Trends 195

PYMNTS

OCTOBER 16, 2019

Germany-based Wirecard is once again facing allegations of accounting fraud by the Financial Times (FT). ” The digital payments company, in turn, accused the Financial Times of market manipulation, allegations that the FT rejects. These claims have led to an investigation by German financial watchdog BaFin. Subsidiary Questioned.

Fraud 111

Fraud Payments Report Operations 111

FICO

DECEMBER 1, 2020

I’m delighted to announce that FICO has been named as the Category Leader for Financial Crime - Enterprise Fraud in the recently published 2021 Chartis RiskTech 100. It discusses the need to deploy effective enterprise-wide solutions for fraud and financial crime management that can adapt to changing customer behaviour.

Fraud 59

Fraud Risk Management Analytics Management 59

PYMNTS

APRIL 13, 2016

Fraud prevention technology provider ACH Alert has partnered with Venture Bank to provide customers with real-time fraud protection through its PRO-TECH solution, the companies announced on Tuesday (April 12).

Fraud 100

Fraud Operations Examples Technology 100

PYMNTS

MAY 23, 2016

Banks may not always be up for overhauling their operations with a largely untested, disruptive technology, but new reports suggest the threat of fraud in one area of corporate finance is encouraging financial institutions to adopt distributed ledger technology in growing volumes.

blockchain 115

blockchain Fraud Bitcoin Survey 115

FICO

MARCH 25, 2021

But unlike crumbling ancient Roman ruins, the Falcon Intelligence Network, FICO’s fraud consortium, is stronger and more vital today than ever. Consortia data is a key functionality trend for next generation Fraud and AML Machine Learning platforms.*. What Is the FICO Falcon Intelligence Network?

Fraud 52

Fraud Innovation Analytics Training 52

Abrigo

APRIL 18, 2022

However, today it is still a relatively new market that does not have mainstream usage within the United States. The industry's most significant market increase was between 2016 and 2018. It experienced a downward correction from 2018 to 2019, sometimes referred to as the "crypto winter." Fraud Prevention. Fraud Trends.

cryptocurrency 195

cryptocurrency Fraud United States Leadership 195

PYMNTS

JULY 28, 2020

dollars, but the practice can be inconvenient for sellers in many international markets. Some markets have also made delivering sellers’ payments in local currencies a legal requirement. Domestic Seller Currencies. Some marketplaces try to pay all vendors in U.S.

Marketing 159

Marketing Regulation National Operations 159

FICO

AUGUST 3, 2022

Fraud Ideas from FICO World 2022 – and Excitement for 2023! FICO World 2022 was an excellent event with a stellar fraud protection and compliance track - here's some of what we learned. Synthetic Identities and Application Fraud. Innovative Customer Communications for Fraud. Tue, 07/02/2019 - 02:45. by TJ Horan.

Fraud 52

Fraud Analytics Trends Innovation 52

PYMNTS

DECEMBER 17, 2018

Elsewhere in Europe, and in company-specific news, regulators in the European Union have looked at Apple Pay in reference to market dominance. No market dominance is evident, but the issue could be revisited again in the wake of any future formal complaints. Push Payments Fraud in the Crosshairs. The time is now.”.

Report 167

Report Fraud Compliance Apple 167

Insights on Business

AUGUST 28, 2019

In our webinar yesterday, the first in the series AI Fraud Detection — Beyond the Textbooks , we ran out of time and weren’t able to address some great questions we had from the audience. What rules or models can you recommend to detect push-payment fraud”? Here’s why: All fraud models are predictors. Great question!

Fraud 93

Fraud Training Cards Data 93

South State Correspondent

APRIL 15, 2024

This may lead to stickier inflation and higher interest rates versus market expectations. World-wide remilitarization, reduced globalization, the transition to green economy may also act to keep inflation higher than the market expects. The bank holds the #1 market share for multifamily lending.

Community 195

Community Community Bank Leadership America 195

Perficient

FEBRUARY 22, 2023

AI is increasingly being used to automate a variety of tasks in financial services institutions, including customer service, fraud detection, and loan applications. The next offering for adoption within automation is more human-like Advance AI, which is being referred to as Autonomous Enterprise.

Trends 474

Trends North Carolina Customer Experience Charlotte 474

FICO

JULY 23, 2020

Electronic payments have paved the way for new and old authorised push payment (APP) scams to hit the UK market, with a 40% rise in 2019 ; 56% of Europeans surveyed experienced at least one type of fraud/scam in 2018/2019. Fraud scams are a concern for every fraud manager. The Data Challenge. Learn More. by Matt Cox.

Analytics 52

Analytics Fraud Data Groups 52

PYMNTS

FEBRUARY 27, 2020

For the growing number of challenger banks in the market, open banking may just be an important driver of adoption of digital financial institutions (FIs), a recent PYMNTS report noted, pointing to Revolut as the latest challenger bank to embrace open banking. Enfuce Tackles Fraud In Open Banking. Enfuce Tackles Fraud In Open Banking.

Fintech 192

Fintech Fraud Data Lending 192

Abrigo

MAY 15, 2020

Key Takeaways Like other federal relief programs, the PPP has become subject to fraud. The first federal charges of PPP loan fraud have been made – and they're unlikely to be the last. From 9/11 to Hurricane Sandy, and now, during COVID-19, federal relief funds aimed to help people rebuild after a disaster becomes subject to fraud.

Lending 195

Lending Rhode Island Fraud Los Angeles 195

PYMNTS

DECEMBER 20, 2020

market, Quartz reported. Meanwhile, Scotland's University of Glasgow is using technology from Everledger , a blockchain provenance startup, to tackle “whisky fakes” and other fraud, CoinDesk reported. The estimated value of the market for vintage single-malt scotch whiskies, according to the centre, was 57.7 was traded in 2020.

Bitcoin 160

Bitcoin blockchain cryptocurrency Fraud 160

PYMNTS

NOVEMBER 22, 2019

Gift cards have largely gone digital with the rise of smartphones and tablets, and the eGift card market was valued at approximately $31.8 The value attached to the gift card market has made these items prime targets for fraudsters. Gift card fraud comes in a variety of forms. billion in 2019.

Cards 131

Cards Fraud Security Retail 131

PYMNTS

MARCH 5, 2020

Virgin Media announced Thursday (March 5) that the personal details of 900,000 customers had been accessed by a third party as the company left a marketing database unsecured for months, according to the Financial Times. Non-Virgin Media users could have also been affected as the database included some “refer a friend” promotions.

Data 134

Data Conference Fraud Security 134

South State Correspondent

NOVEMBER 9, 2023

The underlying point here is that banks have traditionally used fraud data on an ad hoc basis. Equally important is for banks to either use a single set of fraud management tools across the organization or at least orchestrate the various fraud tools into a comprehensive unit.

Trends 195

Trends Technology Fraud Data 195

Insights on Business

AUGUST 28, 2019

In our webinar yesterday, the first in the series AI Fraud Detection — Beyond the Textbooks , we ran out of time and weren’t able to address some great questions we had from the audience. What rules or models can you recommend to detect push-payment fraud”? Here’s why: All fraud models are predictors. Great question!

Fraud 70

Fraud Training Cards Data 70

FICO

DECEMBER 19, 2018

Stopping by a farmers’ market to catch a slice of life? Will Fewer Cash Transactions Result in More Fraud? As a larger portion of cash-based transactions (no matter how small) are replaced with digital transactions, the number of opportunities for fraud will naturally increase. Use the city’s transit app.

Fraud 80

Fraud Payments Mobile Cards 80

FICO

AUGUST 16, 2019

First-party fraud refers to an applicant or customer’s intention to commit fraud, whether through use of a true, manipulated or synthetic identity. It’s difficult to define the problem and many banking professionals debate the merits of who “owns” the first-party fraud problem — the credit risk group or the fraud group.

Fraud 40

Fraud Analytics Groups Management 40

PYMNTS

JUNE 24, 2020

Payments orchestration – which leverages platforms to coordinate the complex range of gateways, fraud tools, rewards and partner merchants across a single view – can be one way to address the technical heavy lifting. The issue is that integrating all of those different payment choices can be an arduous task.

Payments 238

Payments Fraud Software Meeting 238

PYMNTS

AUGUST 5, 2019

Fraud comes in many flavors, and a payments-related lawsuit arising from the growing business of legal, recreational marijuana is proof of that point. Technology can help prevent such fraud, particularly that associated with beneficial ownership of company and using shell companies in support of fraudulent activities. The good news?

Company 163

Company Payments Fraud Meeting 163

PYMNTS

OCTOBER 7, 2019

Securities and Exchange Commission (SEC) is seeking to “modernize” the regulation of exchange-traded funds (ETFs) in a bid to make those investment vehicles more innovative, and give them quicker entrance to the market. SEC Chairman Jay Clayton told CNBC last month that “progress is being made” in crypto ETFs coming to market.

cryptocurrency 134

cryptocurrency Bitcoin Regulation Retail 134

PYMNTS

DECEMBER 5, 2017

Through improving technology and decreasing costs, AI and Big Data are now combining to help firms in the financial sector prevent payments fraud. In just three years, the tally will be 44 zettabytes , or 44 Great Walls of China, as estimated by global market intelligence firm IDC. The Stage was Set with Big Data.

Big Data 214

Big Data Fraud Data System 214

FICO

DECEMBER 6, 2017

There has been a lot of noise in the fraud marketplace from new market entrants touting the power of machine learning (ML), artificial intelligence (AI) and “new data sources” to fight fraud. My post today is about the underlying data we use to build models using machine learning analytics, the FICO Falcon Fraud Consortium.

Fraud 56

Fraud San Diego Analytics Data 56

PYMNTS

JUNE 8, 2020

The Securities & Exchange Commission ( SEC ) has moved to freeze the assets of a $12 million cryptocurrency mining and multi-level marketing (MLM) scheme, Coindesk reports. The defendant in the case is Utah resident Daniel F. Putnam, whose businesses — MMT Distributions and R&D Global — and associates — Angel A.

blockchain 131

blockchain Analytics Utah cryptocurrency 131

PYMNTS

JANUARY 20, 2020

It has motivated a different approach for fighting fraud in the 2020s and beyond. In many ways, the rise of data breaches really forces the adoption of smarter and more dynamic security products to truly protect data and manage fraud,” he noted. Protecting the commerce ecosystem from fraud and risk is both a short- and long-term game.

Security 168

Security Fraud Risk Management Payments 168

PYMNTS

NOVEMBER 1, 2018

Hong Kong Monetary Authority (HKMA) has received a trio of complaints that the faster payments infrastructure has been a conduit to fraud, and the transactions range from $1,280 to $12,750. The alleged fraud involves personal data used to set up eWallet accounts and facilitate direct debit activity.

Payments 144

Payments Fraud Survey Innovation 144

PYMNTS

NOVEMBER 19, 2018

The members will all use Invoice Check, a blockchain application developed by Trade Finance Market (TFM), which works with existing workflows and is the first in a suite of distributed ledger technology (DLT) tools developed by TFM. For lenders, it seeks to reduce the perennial risks associated with invoice fraud or multiple invoicing.

blockchain 153

blockchain Fintech Fraud Community 153