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Unemployment Fraud In Michigan Could Bump Legit Jobless Claims

PYMNTS

Unemployed Michigan residents ought to be wary of a scam in which fraudsters are using stolen personal information to apply for unemployment benefits, according to Michigan-based news site MLive.com. Michigan has reported 1.65 Those whose claims are accepted receive a written letter with the amount of money they’ve been granted.

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Why Traditional Fraud Methods Failed To Stop Public-Payout Systems Fraud

PYMNTS

Michigan as of last week had halted 340,000 questionable unemployment claims, while Pennsylvania suspects it has paid out on roughly 60,000 false filings, and Maryland has found 47,000 unemployment fake-outs. They are going to have to update how they mitigate and control fraud and risk and update their systems.

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Visa pilots card-not-present security app with Michigan State University FCU

Payments Source

The pilot leverages Keyno’s CVVkey technology that uses a dynamic card verification value 2 (CVV2) code to provide a higher level of security against fraud for online and mobile payments.

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Sterling in Michigan pleads guilty to securities fraud

American Banker

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Group Hits 3 Universities, Demands Bitcoin Payments

PYMNTS

Before that, the group claimed to have attacked Michigan State University and Columbia College of Chicago, in a dark web blog accessed by Cointelegraph. billion in fraud, hacks and theft in just the first five months of 2020, according to a study by crypto intelligence company CipherTrace.

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How to Avoid Life Insurance Fraud

MyBankTracker

What nobody needs is life insurance fraud. Worrying about life insurance fraud probably isn’t high on your list of concerns, which is good, because the odds of something happening are likely rare, but it’s smart to have it on your radar. So if you’re concerned about life insurance fraud, don’t worry (much).

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Slow EMV Conversion Invites Fraudsters to Self-Serve at Gas Stations

FICO

The good news is that FICO is on it—by leveraging machine learning, the FICO® Falcon Fraud Platform is able to capture the latest fraud trends and transform raw data into actionable insights. . Gas stations are a hotbed for fraud. Highest 3 fraud rate states: Nevada, Florida, Michigan. by Scott Zoldi.