PYMNTS

SEPTEMBER 3, 2020

Those new avenues of fraud have leveraged hallmarks of the current pandemic — fears over public health and concerns about stimulus checks issued by the government — to snare unwitting victims. . . According to some estimates, as many as 22 percent of Americans have been impacted by COVID-related fraud. . .

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PYMNTS

AUGUST 26, 2019

22) the Justice Department unsealed an indictment —spanning 252 counts — against 80 defendants for alleged online scams that bilked firms and individuals of tens of millions of dollars. Late this past week, on Thursday (Aug. As reported, many of those indicted are Nigerian nationals. The indictment was unsealed by the U.S.

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Fraud Online Portland Los Angeles 145

PYMNTS

AUGUST 22, 2019

FinTech firms are tapping into automation and training to stay on top of the latest security developments, while keeping an eye on evolving trends in the payments space. Fraud, for instance, is an ongoing threat, with nearly three-fourths of U.S. financial institutions reporting growing losses attributed to online and mobile fraud.

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Fraud Fintech Training Security 142

PYMNTS

NOVEMBER 17, 2020

That sets the stage for fraudsters to follow the money as consumers transact online — and steal a large chunk of that money. Panelists included Schalk Nolte , CEO of Entersekt ; Jen Martin , head of Fraud Operations at KeyBank ; and Karen Boyer, Fraud Intelligence Director, Financial Crimes at People’s United Bank.

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Fraud Mobile social media Security 195

PYMNTS

JUNE 20, 2019

Retailers focused on combating fraud have credit cards in the cross-hairs of their efforts. But ramping up the war on card fraud can introduce a new risk to companies: false positives. This isn’t merely an issue for the B2C world, however. The False Positive Threat.

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Fraud Payments Cards Strategy 182

Abrigo

JANUARY 3, 2024

While many think of trade, commerce, and cultural exchange when considering this region, ignoring the undertow of illicit activities is impossible—the border remains a hotspot for drug trafficking, illegal arms trade, human trafficking, and smuggling operations, necessitating vigilant scrutiny and transaction monitoring within the U.S.

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Abrigo

JANUARY 31, 2023

Takeaway 2 Banks should be proactive in understanding fraud trends and FinCEN priorities to prepare for future rulemaking. Takeaway 3 Education and training are the first steps to ensuring that your AML/CFT program is ready for these critical threats. billion to fraud in 2021, a 70% increase over the prior year.

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Fraud Training Regulation Trends 195

PYMNTS

APRIL 16, 2020

Not only do industry giants have innate name recognition, but they also have colossal advertising budgets and access to cutting-edge mobile ordering technology and features that small operations cannot match. Bad actors are taking advantage of the chaos and bringing about an upswing in digital fraud. Fighting Fraud.

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Abrigo

JANUARY 13, 2023

According to the Homeland Security Operational Analysis Center , human smuggling along the southwest border generates an estimated $2-$6 billion in annual revenue. . How human smugglers operate. Both transnational criminal organizations, such as drug cartels, and smaller independent operators conduct human smuggling operations.

social media 195

social media Training San Antonio National 195

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. for example, cited fuel fraud as a major concern.

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Fraud Cards Training Resources 100

PYMNTS

MARCH 15, 2019

Barclays said this week that as many as one in seven small businesses (SMBs) have been victimized by invoice fraud within the past 12 months. Emailage CEO Rei Carvalho said in a statement, “This research shows a lack of concern among many SMB owners when it comes to fraud prevention.

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PYMNTS

JULY 14, 2019

Design and Cayenne Technology reportedly created the Online Bid Solution (SOL), which is said to be a technology based on the blockchain. And the operator of BitFunder, a defunct trading platform that was denominated in bitcoin, and WeExchange was sentenced for obstruction of justice as well as securities fraud, CoinDesk reported.

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blockchain Bitcoin Fraud social media 140

Abrigo

DECEMBER 3, 2021

Takeaway 1 OTP bots are designed to socially engineer a victim into divulging sensitive information associated with online accounts. Two-factor authentication (2FA) is a commonly used tool to add an extra layer of security and prevent unauthorized login of online accounts. Fraud Prevention. Fraud Trends. Fraud Prevention.

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Fraud Trends Online Examples 195

Perficient

JULY 21, 2023

It uses a generative pre-trained transformer (GPT) model, a type of neural network trained on a massive dataset of text and code. Data Cloud and Einstein GPT are two powerful tools that help businesses improve their data management, customer engagement, and operational efficiency.

Industry 221

Industry Data Training Technology 221

PYMNTS

JUNE 23, 2016

Though victims of fraud attacks may never be able to beat cybercriminals at their own game, it’s clear that knowledge is power. ” In this month’s installment of the Anatomy of a Fraud Attack series with Kount , we take a look at an increasingly favorite type of fraud among cybercriminals: carding or card testing.

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Fraud Cards Data Tools 138

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.”. In just two of the most popular ‘carding’ forums, 1.2

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Study Online Course Cards 124

PYMNTS

AUGUST 13, 2019

The Securities and Exchange Commission (SEC) has announced fraud charges against a Brooklyn individual and two of his entities who allegedly engaged in a fraudulent scheme to sell digital securities to investors and to manipulate the market for those securities. The agency is looking to freeze at least $8 million of the $14.8

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PYMNTS

FEBRUARY 1, 2017

At the same time, the risk of fraud has never been higher and is still increasing — and the true costs of card-not-present fraud hit both the top and bottom lines of retailers simultaneously, while doing damage to reputations as well. When it comes to fighting fraud, there is a two-tiered model that is emerging. percent.”. “And

Fraud 100

Fraud Retail Cards Samsung 100

PYMNTS

SEPTEMBER 14, 2016

ACI Worldwide advises that, as the world moves toward immediate payment ecosystems, a holistic view of the transaction, with layered controls from origination to the application of real-time rules, is the only way to push the pedal to the metal on faster payments and put the brakes on fraud. million in 2007 to £52.5 million in 2007 to £52.5

Fraud 100

Fraud Payments Customer Experience Exercises 100

PYMNTS

OCTOBER 9, 2020

told PYMNTS that the FBI has found email fraud already costs businesses and individuals $3.5 The pandemic has caused many companies to amend their operations and procedures, and scammers have been right there trying to exploit the changes. Leigh Reichel , new chief financial officer of cybersecurity firm INKY Technology Corp.

Branding 292

Branding Fraud Software Security 292

PYMNTS

JANUARY 17, 2020

Platforms responsible for person-to-person (P2P) transactions, such as RV sharing website RVshare , rely heavily on consumer trust, which can be immediately erased if an instance of fraud leaves customers without goods or money. Is fraud a risk? RVshare’s Multi-Tiered Anti-Fraud Approach.

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PYMNTS

APRIL 15, 2019

The marketplace operators sell the data to cybercriminals who use it for identity theft, online fraud and other crimes – and the data is worth anywhere from $5 to $200. The fraud is fairly easy to pull off because it bypasses many existing controls for capturing it. They are both scheduled to be sentenced on August 14.

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Fraud Data Security Ohio 129

PYMNTS

SEPTEMBER 23, 2020

The pandemic’s effects on online banking and cloud solution usage may significantly affect how such technologies are deployed — and what standards are set for their use — in the near future. FIs in Fidor’s native Germany should by now be familiar with the standards set by GDPR, PSD2 and other regulations aimed at online banking.

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Compliance Regulation Guidelines Security 225

PYMNTS

MARCH 15, 2019

Here’s an exercise that may come off as too academic – like a debate over how many angels fit on a pinhead – but is really among the most vital for not only PYMNTS readers, but pretty much any other business operators: What is the perfect payments experience? That changed expectations,” Bilafer noted.

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Payments Online Fraud Operations 195

PYMNTS

JANUARY 25, 2019

Get ready for even more fake grandchildren when it comes to payments fraud. Treasury stats are a reminder of the role that seniors play both in banking and as targets of fraud. Among the most common methods of fraud is the fake grandchild scam. Fresh statistics from the U.S. But the U.S. Fake Grandchild Scam. Other Scams.

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Fraud Connecticut Online Report 187

PYMNTS

AUGUST 24, 2020

But by extending our operating hours and centralizing the management of our tellers, ITMs are the solution that we chose [instead].”. FIs like Ascend rely on a number of approaches to help secure ITMs and limit their services to legitimate customers, including physical security safeguards and behind-the-scenes fraud analysis systems.

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ATM Fraud Security Video 154

PYMNTS

NOVEMBER 14, 2018

Anyway, when it comes to “maybes” — the absence of certainty, the mushy middle that, in business, can mean revenue loss and flat growth — too many of them can provide openings for fraud. But even with artificial intelligence and machine learning helping human experts spot attempts at fraud, such certainty is not always possible.

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Training Fraud Operations Industry 187

PYMNTS

AUGUST 6, 2018

According to a report in the Financial Times , hundreds of police officers and security guards gathered near the offices of banking and securities regulators, as well as the entrance to the underground train stop for the financial district. That, in turn, has caused some P2P lending platforms to collapse.

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Lending Fraud Training Security 116

PYMNTS

DECEMBER 6, 2019

In today’s top news in payments, Visa has announced it’s going to begin a new certification program in dispute resolution, as well as fund scholarships that can be used toward the training. Visa Offers Scholarships To Train Workers In Dispute Resolution. And Uber has debuted a group ordering option. The account base of Chime is 6.5

Training 130

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Independent Banker

DECEMBER 31, 2022

In response, community banks have an opportunity to revisit hiring policies and training programs. The use of digital technology and artificial intelligence has changed the workplace dramatically in recent decades, but the pandemic accelerated this shift by forcing remote working and driving online commerce. Training for success.

Training 98

Training Community Bank Community Knowledge Base 98

CB Insights

FEBRUARY 13, 2020

As businesses and consumers become more comfortable using credit cards online, the proportion of US commerce that takes place online has steadily increased over the last 20 years. Specifically, the Collisons aimed to more seamlessly connect online businesses and payment processors, allowing more businesses to accept online payments.

Online 98

Online Company Retail Payments 98

PYMNTS

FEBRUARY 28, 2019

A job marketplace platform in India is looking to connect trained trade workers with employers. The digital platform provides hiring, training, compliance management and payroll solutions to its clients, and is geared toward the facilities management, private security and logistics industries, to name a few.

Payments 183

Payments User Experience Training Case Study 183

PYMNTS

JULY 18, 2018

Machine learning was one of the main subjects on Tuesday (July 17) during the Amazon AWS Summit in New York City, as the eCommerce operator rolled out new cloud-based features related to commerce and payments. Reduced training time can lead to “reduced training costs” for the developers who use AWS.

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Conference Training New York City New York 107

FICO

APRIL 6, 2020

In my last post I wrote about the fraud and financial crime problems the USA is likely to encounter as real-time payments increase in both value and volume. Banks have suffered from bad publicity when money-laundering happens, or their customers fall victim to fraud. What Banks Can Do. Customer communications.

Fraud 52

Fraud Payments Analysis Compliance 52

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. ChatGPT can be embedded in a bank’s online and mobile application via API. Like any other data-based tool, inaccurate or limited data likely means inaccurate results.

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Tools Examples Analysis Data 370

PYMNTS

JUNE 20, 2019

However, one must admit that the delivery of healthcare is becoming more convenient — thanks to online and mobile technology services, and the disruption and innovation of multiple players within that industry. Take the growing area of online prescription retail.

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Online Mobile Technology Course 137

PYMNTS

MARCH 26, 2020

Jeffrey Zack, a spokesperson for the company, said there was “no evidence” that the breach had hit the company’s own network, adding that it was “fully operational.” If a victim doesn’t pay, then the stolen files are published online. Zack did not say anything beyond that. In December, it warned companies about the threat.

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