FICO

DECEMBER 5, 2022

Top 5 Surprises from FICO’s Fraud and Digital Banking Survey. Our survey found that good fraud protection is paramount for customers - even though they themselves may exaggerate income or claims. A report released by the FTC in February 2022 indicates a 71% increase in fraud in 2021, which cost consumers roughly $5.8

Survey 52

Survey Fraud Digital Banking social media 52

FICO

MARCH 9, 2022

The last few years have thrown up many challenges for banks and card providers as everything has shifted online, one of the primary challenges being fraud scams. But the online shift has also created opportunities for financial institutions to demonstrate their strong fraud controls in the digital space.

Customer Experience 59

Customer Experience Survey Fraud Cards 59

PYMNTS

AUGUST 5, 2020

losses from COVID-19 fraud and ID theft have reached nearly $100 million since the pandemic emerged in March, according to Reuters. These states accounted for one third of more than 150,000 instances of COVID-related fraud reported nationally by the Federal Trade Commission (FTC) since mid-March. million to date, according to the FTC.

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Study Fraud Pennsylvania California 280

PYMNTS

JANUARY 27, 2021

This increased digital presence also brings a greater risk of digital fraud, however. Some schemes that are impractical to wage in person are simpler to perpetrate online because of a decreased security presence, the anonymity of transactions and fraudsters’ abilities to stage hundreds of attacks simultaneously.

Security 213

Security Innovation Fraud Study 213

Abrigo

AUGUST 22, 2022

Emerging Check Fraud Trends to be Aware of It seems check fraud will never go away, it just changes its approach every opportunity. Check Fraud. Still the number one type of fraud in banking. There is also usually more than one signee assigned to those accounts, making them more susceptible to fraud.

Fraud 195

Fraud Trends Survey Technology 195

Bank Innovation

JULY 25, 2017

Customer fears about card security and fraud is increasing, but as it turns out, fewer consumers are actually experiencing that fraud. This is according to the Consumer Payment Card Data Security Perceptions survey by data solutions provider Transaction Network Services, released today.

Fraud 230

Fraud Cards Survey Security 230

PYMNTS

JANUARY 18, 2021

People in general are more aware of — and concerned about — fraud as we pass through a second season of COVID, and eCommerce continues to rack up impressive stats, good and bad. New threats are evolving all the time,” KP Brendel, director of marketplace operations at online thrift and consignment storefront Swap.com, told PYMNTS. “New

Fraud 144

Fraud Security Study Retail 144

PYMNTS

SEPTEMBER 22, 2020

One recent study estimated that roughly 44 million Americans would tap food delivery apps by the end of this year, up from 38 million in 2019, and another survey predicted that the number of smartphone delivery app users will climb 25.2 It also analyzes how focusing on the customer experience can help prevent such fraud in the first place.

Fraud 255

Fraud Mobile Tools Study 255

PYMNTS

OCTOBER 20, 2016

According to the 2016 American Express Digital Payments Security Survey , 70 percent of U.S. Those sales could be higher if payments fraud weren’t quite so prevalent a concern. Nearly half — 48 percent — of consumers who shopped online in the past year have experienced payment fraud. The not-so-good news?

Security 100

Security Online Fraud Survey 100

PYMNTS

AUGUST 11, 2020

No one will call to ask for your bank account, credit card or Social Security number, the FTC said. The FTC also warns consumers not to pay for job opportunities or for online ads promising ways to earn money. A survey released last week by SocialCatfish.com, the identity verification nonprofit, reported U.S.

Fraud 174

Fraud Taxes Survey Cards 174

PYMNTS

JANUARY 15, 2021

Brick-and-mortar merchants and online retailers alike often rely on end-of-year sales to generate up to 40 percent of their annual revenues and start the new year on a positive note. consumers were expected to spend more than $190 billion online this season, up 36 percent from 2019, while in-store commerce was predicted to fall by 4.7

Retail 159

Retail Online Fraud Cards 159

Bank Innovation

SEPTEMBER 11, 2017

Fraud remains a significant problem for financial services to solve, especially as digital and online banking becomes more prevalent in the industry. For the average FI and online lender, approximately one-third of all monthly transactions will be fraudulent.

Online 199

Online Fraud Survey Industry 199

PYMNTS

APRIL 1, 2019

When it comes to online shopping, one of the greatest frustrations for consumers — and friction points for merchants — is having to manually enter credit or debit card information for each purchase. percent of consumers today have account information stored online with at least one or more companies or service providers.

Online 212

Online Cards Mobile Maine 212

PYMNTS

NOVEMBER 27, 2020

Overtaxing the royal attention span — that of the consumer — is a mistake, so multifactor authentication (MFA) processes are morphing in various ways to reduce onboarding frictions while maintaining rigorous multifactor authentication (MFA) and other fraud-fighting tools. Phone Call For You. Taking Authentication To The Streets.

Security 269

Security Study Mobile Data 269

PYMNTS

FEBRUARY 3, 2020

The sharing economy’s business model is straightforward: Individuals list goods and services on curated online platforms that foster pain-free connections to renters or buyers. Such transparency between buyers and sellers allows the economy to quickly grow — but also presents fraud and security challenges.

Security 132

Security Fraud Tools Online 132

FICO

OCTOBER 26, 2018

Our recent fraud and security survey of 2,000 US adults allowed us to look at the data by different demographic factors. In an earlier post I wrote about how fraud and security issues differ by age group. Online Banking. online bank accounts compared to 3.89 Security Measures.

Survey 45

Survey Fraud Security Online 45

PYMNTS

DECEMBER 16, 2019

’Tis the season for corporate fraud? the FBI recently issued a warning for holiday shoppers of a new scam called eSkimming , in which cyber criminals hack into legitimate online retailer websites to steal shoppers’ credit and debit card details. Yet, analysts warn, as cross-border B2B payment volumes rise, so does the risk of fraud.

Fraud 149

Fraud North Carolina Payments Delaware 149

PYMNTS

SEPTEMBER 9, 2020

Consumers who previously paid for purchases by swiping or inserting their cards at in-store point-of-sale (POS) terminals are now turning to contactless cards and online shopping to safely and easily obtain needed goods. Almost 65 percent of FIs said in a recent survey that their customers are now making more CNP payments, for example.

Cards 162

Cards Fraud Retail Security 162

PYMNTS

MARCH 31, 2016

This week, PYMNTS, in collaboration with Socure , released the March edition of the PYMNTS.com Digital Identity Tracker TM , featuring all new research surrounding the increase in online fraud fueled by the increase in EMV card chip tech adoption. Other highlights from the survey include: Only 1.1%

Fraud 100

Fraud Online Resources Survey 100

PYMNTS

JANUARY 21, 2021

Merchants, card issuers and banks are no strangers to facing off against evolving fraud threats. Debit-related fraud is a particular concern for businesses and banks as failing to thwart such schemes could have significant and costly consequences. Debit And The Fraud Catch .

Fraud 148

Fraud Strategy Study Cards 148

FICO

DECEMBER 16, 2019

The Communications Fraud Control Association (CFCA) recently released the findings from its Global Telecom Fraud Survey. Fraud teams operate with lean structures. The majority are still using primarily rules-based fraud management systems, with just 6% using AI and machine learning. of respondents.

Survey 52

Survey Fraud Cyber Security Compliance 52

PYMNTS

DECEMBER 7, 2017

If the definition of insanity is doing the same thing time and again and expecting different results, then perhaps the way we pay through, and interact with, online banking may have a hint of madness, or at least complacency. Studies abound on the impact of payments fraud, said Volmar. percent of fraud?”. It’s unlivable.

Security 101

Security Online blockchain Fraud 101

FICO

OCTOBER 18, 2018

But it can be difficult to really understand how, or if you should be customizing online experience to different age group, and how you do that when you must also manage fraud and security. Our survey of 2,000 US consumers uncovers how the age of customers affects what they think about fraud and security measures.

Survey 40

Survey Fraud Security Groups 40

PYMNTS

JANUARY 31, 2020

A 2018 survey found that 40 percent of American financial institution (FI) customers in this age bracket reported debit cards as their go-to payment instruments, while 36 percent favored credit cards. These organizations need to fend off anything threatening, combatting both popular and emerging debit fraud attack methods.

Fraud 148

Fraud ATM Cards Security 148

PYMNTS

NOVEMBER 7, 2018

Ping Identity, the Identity Defined Security (IDS) company, announced on Wednesday (Nov. In a press release , Ping Identity said it surveyed more than 3,000 people in the U.S., According to the survey, Ping said it found the greatest discrepancies in security sentiment and practices between those under 35 and those over 55.

Survey 153

Survey Data Security Branding 153

PYMNTS

JUNE 4, 2019

Amazon , Worldpay , and Stripe — the eCommerce and payment companies — are expressing concern that a lack of preparedness by the industry to new EU security regulations could put billions of dollars of eCommerce purchases at risk. The new rules are aimed at reducing fraud.

Online 166

Online Survey Industry Retail 166

PYMNTS

SEPTEMBER 18, 2017

How secure do you feel when it comes to payments? Consider a survey commissioned by payment, telecom and financial data solutions provider Transaction Network Services (TNS), which found that 85 percent of adults across the United States, the United Kingdom and Australia believe fraud attempts on debit and credit cards are on the upswing.

Security 152

Security Payments Survey Cards 152

FICO

APRIL 20, 2023

According to FICO’s latest survey of consumers from 14 countries around the globe, 90% of all consumers have sent a real-time payment, and at least 95% of consumers have used real-time payments in India , Indonesia , the Philippines , and Brazil. Throughout the countries we surveyed, RTP usage shows no signs of slowing.

Survey 52

Survey Payments Fraud Management 52

The Paypers

AUGUST 15, 2022

Canada-based web platform Get App has issued a survey revealing that most Quebecers have experienced fraud while shopping online, and that 93% worry about its data security.

Online 36

Online Security Data Study 36

Bank Innovation

OCTOBER 19, 2018

Noncash payments fraud in the U.S. The study’s survey of depository institutions found noncash payments fraud increased 37%, from $6.1 outpaced growth in noncash payments overall between 2012 and 2015, according to a Federal Reserve Payments Study released this week. billion in 2012 to $8.3 billion, in 2015.

Study 150

Study Fraud Payments Survey 150

PYMNTS

NOVEMBER 26, 2020

Social Security Administration, for example, requires recipients using its website to provide unique eight-digit codes sent via text to their smartphones in addition to their usernames and passwords when they sign up or log in. . One survey found that 58 percent say they already receive too many notifications from companies.

Security 174

Security social media Retail Fraud 174

PYMNTS

OCTOBER 28, 2019

Digital fraud prevention company Kount is rolling out a complete solution to protect companies from criminal and friendly fraud, the firm announced in a press release on Monday (Oct. Kount’s digital fraud prevention uses artificial intelligence (AI) that mimics a fraud analyst.

Fraud 101

Fraud Customer Experience Analytics Survey 101

PYMNTS

APRIL 16, 2020

LYFE’s mission in the midst of the pandemic is twofold: boost the amount of business from pickup and delivery orders and counter the increased risk of fraud that is accompanying the crisis. Bad actors are taking advantage of the chaos and bringing about an upswing in digital fraud. Fighting Fraud. COVID-19 Woes .

Fraud 130

Fraud Chicago Resources Mobile 130

CFPB Monitor

JULY 19, 2022

On July 13, 2022, the House Committee on Oversight and Reform, Subcommittee on National Security held a hearing entitled “Protecting Military Servicemembers and Veterans from Financial Scams and Fraud.” Malini Mithal testified that the FTC received over 200,000 reports of military fraud in 2021, totaling over $267 million in losses.

Fraud 78

Fraud National Security social media 78

PYMNTS

DECEMBER 11, 2020

to advance secure, contactless transactions as stores reopen amid COVID-19 restrictions. Online lending startup Social Finance (SoFi) is in talks to go public through a sale to blank-check acquisition company. Report: Millennials, Buy Now Pay Later And The Shifting Dynamics Of Online Credit. million in consumer losses.

Trends 175

Trends Fraud Millennials Community Bank 175

PYMNTS

OCTOBER 5, 2020

The latest AML/KYC Tracker® explores the use of AI to streamline anti-money laundering (AML) and know your customer (KYC) processes, changing customer expectations for bank security measures, and an in-depth look at how eCommerce platforms keep money launderers away from their storefronts. Developments Around The AML/KYC Space.

Online 141

Online Compliance Report Study 141

FICO

SEPTEMBER 8, 2022

Payments Fraud in Asia Post Pandemic. Why consumers are moving to banks with the best fraud and scam prevention. Senior Consultant, Fraud and Financial Crime. The growth of real-time payments and fraud in Asia. The appeal of these banking innovations has also made it a honeypot for fraud. Saxon Shirley.

Fraud 52

Fraud Payments Survey Security 52