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

AUGUST 6, 2019

Latin America is often considered to be the world leader in electronic invoicing thanks to government mandates, but the Asia Pacific region is quickly gaining steam in its eInvoicing efforts, too. on the benefits of an eInvoicing mandate, noting that it would address the nation’s current tax challenges.

Regional 108

Regional Taxes System Guidelines 108

PYMNTS

SEPTEMBER 30, 2019

As weaknesses in authorization systems can be exploited by online thieves, financial services firms are more vulnerable to hackers and get hit 300 times more often than other businesses, according to the Boston Consulting Group. As cyberattacks grow in scale and sophistication, it is critical that we advance trust in our payments system.”.

Boston 177

Boston Security System Cards 177

PYMNTS

JANUARY 3, 2019

As bad as one might think the risks of cybercrime are (fraud, hacking, data breaches , customer and revenue loss, lawsuits and fines), the reality is probably worse. After all, what good is a banking system without a functioning electrical grid? Big Mindsets. That focus has recently resulted in more attention from the U.S.

National 169

National Security Risk Management Fraud 169

PYMNTS

OCTOBER 17, 2017

Adobe Systems has warned its users that hackers are exploiting vulnerabilities in its Flash multimedia software platform in web browsers. Kaspersky revealed that the malware, known as FinSpy or FinFisher, is a product usually sold to nation states and law enforcement agencies for surveillance.

Regional 111

Regional Software National Security 111

Abrigo

AUGUST 31, 2023

Both resident and non-resident international clients may drop or rearrange names to fit into Western systems, but their documents, including checks and deposits, may still use their original nomenclature. For example, form letters often filter information from core systems, automatically assigning “Mrs./Mr./Miss”

Compliance 195

Compliance Community Training System 195

PYMNTS

SEPTEMBER 24, 2019

That sentiment was underscored earlier this month when South Korea said it would delist a number of altcoins from an exchange over privacy concerns – namely, the anonymous nature of the transactions are at odds with the goals of the Financial Action Task Force (FATF), which include combating money laundering and fraud.

Innovation 182

Innovation Fraud Technology Security 182

PYMNTS

MARCH 25, 2019

Consider the fact that, as noted in the most recent AML/KYC Tracker produced as a collaboration between PYMNTS and Trulioo , money laundering is estimated by the United Nations Office on Drugs and Crime to be an $800 million to $2 trillion-per-year problem, equivalent to 2 percent to 5 percent of the global GDP. The Crypto Factor.

cryptocurrency 196

cryptocurrency Compliance Fraud System 196

PYMNTS

MARCH 9, 2020

authorities — and those in other places — also noted the presence of fraud in which people are led to purchase medical supplies that don’t exist or give financial information to criminals who purport to be health workers. All of the nation’s schools were previously shuttered until mid-March.

Policies 141

Policies New York San Francisco Seattle 141

PYMNTS

FEBRUARY 21, 2018

A regional government in Russia is now working with state-backed VEB, reports in CoinDesk said this week, as authorities explore how to use blockchain “to improve the quality of management decisions.”. United States. Blockchain may be shaping up to be a topic left to individual states to handle.

blockchain 130

blockchain Los Angeles Regulation Oregon 130

PYMNTS

APRIL 23, 2019

Tick down the list of offerings spanning decades (the Mac, the iPhone, the iPod, iTunes, the iOS operating system/ecosystem), and one can find that the ways we communicate, listen, stream and, indeed, interact with technology have all shifted. but Apple has made itself indispensable across many verticals.

Apple 200

Apple Cards Payments Course 200

PYMNTS

JUNE 5, 2017

Chipotle will be liable for any fraud that results. Something about being hit with the largest fine in CFPB history for a massive fraud carried out over several years involving millions of customer accounts is the kind of thing that really gets a firm thinking about change. Wells Fargo’s New Executive Groove.

blockchain 109

blockchain Leadership System Cards 109

PYMNTS

MARCH 25, 2019

The implementation of PSD2 represents an opportunity for countries to overhaul their financial infrastructures, forcing them to upgrade older systems so businesses and FIs can remain compliant and move money faster. To foster trust and grow customer awareness, DNB has launched a national media campaign.

Regional 108

Regional Regulation Data Payments 108

PYMNTS

JANUARY 7, 2019

Reports began to emerge nearly six months ago that WhatsApp was on the verge of a big mobile payments upgrade in the world’s most sought-after mobile payments greenfield, India, with a system set to run on the Indian government’s UPI payments system. Indians want something they are used to, in a language they can read and write in.

Data 139

Data Wyoming Idaho Mobile 139

PYMNTS

JULY 30, 2019

Regional banks and credit unions have become vulnerable to digital competition from larger banks, which is why so much emphasis has been placed on innovation. It’s true that large national banks have a majority of customers that are digitally centric, meaning customers that don’t visit physical locations. But a recent survey from J.D.

Innovation 115

Innovation Fraud Mobile Video 115

FICO

FEBRUARY 9, 2023

As the PSR’s response to authorized push payment fraud moves towards becoming law, what will the results be? million stolen through fraud in the UK last year, payment scams (or authorised push payment fraud or APP scams) accounted for 41%. A quarter of all losses to payment fraud is under £100. And what can banks do?

Fraud 52

Fraud social media Examples Regulation 52

PYMNTS

JANUARY 7, 2020

Planes may fall out of the sky, the financial system may be crippled, the energy grid may go dark — actually, it’s likely that none of this will come to pass. for a cyberwar, said Visner, as Iran might mull attempts to take down part of a payment system, attack infrastructure or wipe data off computers. Addressing The Vulnerabilities.

National 145

National United States Operations System 145

PYMNTS

APRIL 15, 2019

Even so, retailers must protect against theft and fraud without adding friction for employees and customers in the age of automation. The system will reportedly be tested on regional routes of Bus Éireann later in 2019 and is based on technology the company has brought to other cities.

San Francisco 130

San Francisco Retail System New Jersey 130

NCR

AUGUST 29, 2016

The region’s chip card adoption rate jumped to 52.3 Europe Zone 1, which includes the UK, France and more than 30 other European nations, remained the region with the highest penetration of EMV technology with a slight increase from 83.5 per cent of cards issued, from 40.4 per cent, a rise of nearly a third.

Cards 75

Cards Regional National America 75

FICO

JULY 23, 2020

Europe and the USA are the two regions of the world hardest hit by financial crime compliance costs. The International Bank of Azerbaijan is the largest financial institution both in the Republic of Azerbaijan and the Caucasus region.

Compliance 52

Compliance Regional Analytics Software 52

PYMNTS

OCTOBER 11, 2016

. “PacNet, an international payments processor and money services business, has a lengthy history of money laundering by knowingly processing payments on behalf of a wide range of mail fraud schemes that target victims in the United States and throughout the world,” the Treasury wrote. According to the OFAC Acting Director John E.

United States 100

United States Operations Regional Report 100

PYMNTS

FEBRUARY 4, 2019

Some of the highest activity has been reported in Europe, with a recent report finding that 90 percent of the region’s banks have been sanctioned for money laundering in the past decade. The United Nations Office on Drugs and Crime (UNODC) estimates the market for global money laundering is worth approximately $2 trillion per year.

How To 161

How To Regulation Compliance Meeting 161

PYMNTS

DECEMBER 31, 2020

FIs’ existing infrastructures were designed for processing payments in batches and shifting to processing them in real time requires FIs to update core functionalities like payments review capabilities and fraud-fighting strategies as well as support features, like the user interfaces clients see when accessing the new services.

Payments 168

Payments Resources Survey Examples 168

FICO

MARCH 7, 2023

The EU’s co-ordinated plan is underpinned by the EU AI ACT, which aims to classify different AI systems as high-risk and would impact approaches used to address current business problems, causing many to focus deeply on their responsible AI frameworks. Matt joined FICO from Barclays where he was global director of Fraud.

Regulation 52

Regulation America Compliance Fraud 52

PYMNTS

JUNE 20, 2016

Most, the bureau noted, involved requests for wire transfers into bank accounts in Hong Kong and China, though 79 nations were identified within these requests, reports said. businesses last year due to cybercrime , a figure that marks a 22 percent increase in cybercrime in the nation, reports from Get Safe Online and Action Fraud said.

Management 104

Management Bitcoin Survey Report 104

PYMNTS

JULY 14, 2017

Few paid up, but with systems down for days or weeks, bottom lines certainly suffered regardless. Kenya, ranked third in the region, provides a good example of co-operation through its National Kenya Computer Incident Response Team Coordination Centre (National KECIRT/CC),” said ITU.

Operations 118

Operations Study social media Security 118

Gonzobanker

OCTOBER 13, 2020

With megabanks spending billions on digital investments each year, regional and community bank executives understand they cannot compete on resources. Digital strategy requires frequent monitoring of the local competition as well as national and best practice institutions that a bank’s customers can easily access.

Strategy 155

Strategy Digital Banking Digital Strategies Mobile 155

FICO

FEBRUARY 25, 2019

Per figure 1 below, the shift in odds-to-score for bankcard originations has generally been a parallel one, indicating a systemic shift in risk across the board. Speaking of emerging pressures, will 2019 be the year that the streak of 8+ consecutive years of increases in the average national FICO® Score comes to an end?

Trends 63

Trends Fraud Data National 63

PYMNTS

JUNE 13, 2019

In early May, Mastercard , in partnership with SEDESSON, the Mexico state agency for social benefits, and Edenred Bank, announced a first-of-its-kind test in Mexico’s Sonora state – the first regional test of biometric card technology in national history. In the U.S.

Cards 187

Cards Security United States Technology 187

PYMNTS

JANUARY 16, 2020

According to National Low Income Housing Coalition findings , the share of American renters in any U.S. The process, Caselli noted, is not much better for property managers tasked with managing affordable housing waiting lists, as the process is inefficient, time-consuming and liable to fraud. In 1960, that figure was at 20 percent.

Payments 136

Payments Management Software Data 136

FICO

AUGUST 10, 2022

The burden of highly complex legacy systems and multiple affordability models across different products lines can be overcome. Matt Cox is vice president and general manager of Europe, the Middle East and Africa for FICO, overseeing operations across the region. Matt joined FICO from Barclays where he was global director of Fraud.

Lending 52

Lending Fraud Meeting Data 52

PYMNTS

JULY 6, 2016

One Kantar analyst described Android’s recent dominance as a market-wide phenomenon spurred “not just from one or two players but from different brands and ecosystems, varying from region to region.”. ” This isn’t a matter of vulnerabilities in a handful of devices, either.

Google 105

Google Security Apple Regional 105

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

Gonzobanker

DECEMBER 17, 2021

From nowhere, sizable regional players are being created. Some interesting finalists would be: M&T and People’s United Old National and First Midwest Webster and Sterling Columbia Bank and Umpqua. Performance and multiples continue to be solid, outperforming most regional banks. Bank Merger of the Year.

Fintech 142

Fintech Strategy Leadership Lending 142

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

American Banker

SEPTEMBER 20, 2016

Swift is taking another step to protect the payment system following a multimillion-dollar cybertheft early in the year.

Fraud 28

Fraud Report Payments System 28

American Banker

APRIL 21, 2016

That's the head on a piece in the Journal that looks at how the largest asset manager (by far) has worked the system to avoid the SIFI designation (for now). Wall Street Journal. One Firm Getting What It Wants in Washington: BlackRock."

Big Data 28

Big Data Washington Fraud Data 28