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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Abrigo

JUNE 13, 2022

Elder fraud prevention and education Learn strategies for recognizing and reporting elder fraud and exploitation. . Takeaway 1 Elder abuse, exploitation and fraud continue to rise as the baby boomer generation ages. Takeaway 3 Education and reporting are key to preventing this type of fraud, so know your state's policies. .

Fraud 195

Fraud Training United States Survey 195

Abrigo

JANUARY 14, 2021

How Institutions Can Avoid Fraud Surprises in the Next Round of the PPP BSA and fraud professionals saw a spike in PPP fraud during the first two rounds of funding. How can they be better prepared to prevent fraud in this next round? Stopping PPP Fraud in New Round of Funding. PPP Fraud Spikes.

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Fraud Compliance Community Trends 195

PYMNTS

OCTOBER 19, 2018

At the least, it won’t get any better — not according to any anti-fraud expert who is worth their rate. Every business must decide its comfort level with fraud and how much risk to take on, a concept discussed in depth during a new PYMNTS digital discussion, featuring Karen Webster and Kevin Trilli, chief product officer at Onfido.

Fraud 189

Fraud Online social media Software 189

PYMNTS

MAY 9, 2016

Though the industry knew it was coming, the sharp migration of fraud from in-store to online channels with the growing adoption of EMV is still enough to keep any online merchant up at night. The data show that since the October 2015 EMV liability shift, United States fraud attacks have jumped by 11 percent.

Fraud 100

Fraud Online United States Cyber Security 100

PYMNTS

SEPTEMBER 28, 2020

PYMNTS' September Preventing Financial Crimes Playbook , done in collaboration with NICE Actimize , analyzes the pandemic-era fraud landscape and identifies its many pitfalls. This fraud targets all demographics and generations, with U.S. Financial crime-fighters simply won’t suffer this state of affairs.

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PYMNTS

JANUARY 8, 2021

Equifax has inked a deal to purchase artificial intelligence (AI)-powered fraud prevention and digital identity technology provider Kount for $640 million. Kount’s staff members will become a part of Equifax’s United States Information Solutions (USIS) business unit and will still be based in Boise, Idaho, according to a Friday (Jan.

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Idaho Fraud United States Customer Experience 295

PYMNTS

DECEMBER 26, 2018

The Federal Bureau of Investigation (FBI) is warning about a new form of fraud that targets companies, schools and nonprofits around the United States. As a result, law enforcement agencies around the world have increased their efforts against money mule fraud.

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PYMNTS

JANUARY 19, 2021

Studies showed that many consumers in the United States have begun tapping their debit cards more often for payments, for example, with one report finding that debit use rose about 6 percent year over year. Another study indicated that debit-related fraud is on the rise across the U.S. Another study found that 55 percent of U.S.

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PYMNTS

JULY 21, 2017

If a data breach is a sprint — where a fraudster grabs as much data as he or she can, as quickly as possible, in an effort to maximize ill-gotten gains — the fight against fraud is a marathon. Fraud varies country to country, region to region. Europe may offer a tell on the fraud to come. A marathon that never ends.

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PYMNTS

NOVEMBER 8, 2018

PNC Bank’s Treasury Management unit is testing a new solution to address card-not-present (CNP) fraud for commercial clients. Commercial cards with EMV chips and Dynamic CVV2 that are compromised are “rendered virtually useless,” with protection against both card-present and CNP fraud. “Almost all U.S.

Fraud 116

Fraud Cards United States Online 116

PYMNTS

MAY 16, 2019

Death, taxes and data breaches – those are perhaps the only sure things in life, and new evidence is emerging that hackers are finding increasing profit in targeting online retailers. The news comes amid yet another online retail cyberattack, this one targeting Japan’s Fast Retailing, the company that owns the Uniqlo retail chain.

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Retail Online Cards Data 218

PYMNTS

JUNE 14, 2019

Many of the headlines centered on payments fraud have focused on the damage done to smaller suppliers and vendors, especially in the U.K. But beyond the now-familiar conduits of fraud done across email or through fake invoices, some lures have come through ties with cryptocurrencies. The scheme took place over three years.

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Fraud Payments blockchain cryptocurrency 128

PYMNTS

JUNE 3, 2019

Customers also get access to advanced risk and fraud tools powered by artificial intelligence (AI) and machine learning, informed by trillions of transactions and more than 50 petabytes of data, Ready said in the blog post. Small Business – will utilize this trusted network through the PayPal Commerce Platform.”

Online 206

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PYMNTS

DECEMBER 18, 2020

The paper said that prior to the approval of vaccines by regulators in the United States and the European Union, authorities had warned that fraudsters would use the opportunity to launch scams or sell stolen doses. INTERPOL states on its website : "(W)e are seeing an increase in counterfeit medical products, fraud and cybercrime.".

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Report United States social media Guidelines 274

PYMNTS

JUNE 5, 2020

In the United States alone, he noted, the eCommerce penetration rate rose from about 17 percent to about 27 percent over the course of the eight weeks or so of stay-at-home orders. Consumers are buying online products that they didn’t buy online before. Now, consumer preference is shifting toward digital payments.

Fraud 151

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PYMNTS

NOVEMBER 3, 2020

Aleksandr Brovko, 36, formerly of the Czech Republic, pleaded guilty in February to conspiracy to commit bank and wire fraud. He was alleged to be an active member of a cybergang that collaborated online to swap trade secrets and tools. Ellis III, of the United States District Court for the Eastern District of Virginia.

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Virginia United States Fraud Course 260

PYMNTS

SEPTEMBER 3, 2019

Ad fraud’s prevalence is largely due to two factors: The lack of regulation and the sheer complexity and volume of online advertising. Banks may process $1 million worth of credit card fraud requests in a day, but ad fraud detectors can face up to 20,000 requests every second. Ad fraud can take a variety of forms.

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PYMNTS

NOVEMBER 16, 2020

Leslie Ragan manages transaction fraud prevention for Elan Financial Services , a unit of U.S. Bank , one of the largest commercial banks in the United States. Effective cyber-fraud strategies must be comprehensive, nimble and intelligence-driven,” she said. Bancorp, which is the parent company of U.S.

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Fraud Strategy social media United States 295

PYMNTS

APRIL 1, 2020

Credit unions (CUs), as much as other financial entities, are seeing a boom in competition as banking moves to online and mobile channels. In the March Credit Union Tracker® , PYMNTS analyzes the latest developments in the CU space, such as how they are tackling fraud protection challenges in a growing online banking ecosystem.

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United States Innovation Online Tools 181

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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Fraud Report Nebraska United States 130

PYMNTS

DECEMBER 1, 2020

In other news, Gutemberg Dos Santos was extradited from Panama to the United States on Nov. 25, on charges of participating in an international money laundering ring, the Southern District of New York’s State Attorney Office said in a press release on Monday (Nov. No bitcoin trading or mining occurred, the release stated.

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Bitcoin cryptocurrency United States Fraud 201

PYMNTS

SEPTEMBER 8, 2019

TechCrunch reviewed many of the documents and reported that most of those impacted were located in the United States. The server held the resumes of job applicants spanning 2014 and 2017, and included private information such as phone numbers, home addresses, email addresses and prior work experience.

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Online United States Security Data 184

PYMNTS

OCTOBER 20, 2020

This shift in buying behavior is likely here to stay, too, leading more customers to use card-based payments to complete their purchases when shopping online. This is the focus of Understanding Frictions In Credit Card Transactions: How Transaction Disputes And Declines Impact Merchants’ Reputations, a PYMNTS and PAAY collaboration.

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Survey Data United States Cards 214

PYMNTS

JUNE 16, 2019

A report from the Government Accountability Office ( GAO ) said several government departments still rely on the three major credit agencies — Equifax, Experian and TransUnion — to verify a person’s identity before they can access their services online. Agencies like the U.S.

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Knowledge Base Online United States Fraud 108

PYMNTS

JULY 16, 2020

Don’t look now, but Facebook just took another big step into the world of online shopping and digital payments. Facebook, which owns the photo-sharing app Instagram , noted that the announcement marks the launch of “public testing” of Instagram Shop in the United States, with plans to expand globally.

United States 151

United States Payments Branding Fraud 151

BankInovation

NOVEMBER 13, 2023

Financial institutions are using AI to mitigate fraud as fraudsters keep pace with evolving technology.

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United States Fraud Fintech Technology 62

PYMNTS

SEPTEMBER 4, 2019

In online commerce, though, friction is part of the equation. Financial institutions, she said, had been focused on fighting fraud at the expense of ease of use. Fraud, however, has evolved, too. We’re obviously seeing a lot more fraud going to online and mobile channels. Healthy Friction, Evolving.

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Online Fraud Mobile Data 110

Abrigo

APRIL 2, 2020

Key Takeaways Elderly persons are more susceptible to fraud during crises like the coronavirus pandemic. As the coronavirus pandemic takes a powerful hold on the United States, illicit activity such as cybercrime, check fraud, and other scams are rapidly increasing and is expected to continue throughout this difficult period.

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Fraud Resources Software Training 335

PYMNTS

SEPTEMBER 16, 2020

We may be wondering what’s on the other side of commerce, banking, and “normal” life after the pandemic — but rest assured it will be done (at a significant and accelerating pace) online. Online identity verification has many forms,” Laing told PYMNTS. We’re trying to protect both the consumer and the merchants serving them.".

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Online United States Regulation Fraud 263

PYMNTS

JANUARY 10, 2017

It’s early in 2017, but fraud looms like Nosferatu chancing upon the sleeping maiden. Yes, that is billions with a B, and a capital B, as it represents the staggering amount that merchants lost last year, in the United States alone, from false declines, as estimated by BI Intelligence. We must prepare for that inevitability.

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Fraud US Data System 100

PYMNTS

JUNE 15, 2017

Can data make all the difference in the fight against payments fraud? The discussion played off the findings of a new whitepaper from the firm titled, “Driving Up Conversion with Effective Fraud Management.”. What works in preventing payments fraud at a large airline or telco system may not be germane for an electronics retailer.

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Fraud Data Tools Management 115

PYMNTS

JANUARY 30, 2020

Widely publicized data breaches and hacks have made today’s consumers especially concerned about fraud. Cautious shoppers may find comfort in debit, with fraud losses associated with the payment method declining over the past several years. Card fraud is an ever-present threat. A Big-Picture Approach To Thwarting Debit Fraud.

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PYMNTS

APRIL 22, 2016

Regardless of the company, its industry, its customers or location, online fraud remains top of mind. The urgency of robust and multilayered fraud detection systems becomes especially clear against a backdrop where card-not-present fraud is likely to grow by leaps and bounds in the wake of the EMV liability shift from last year.

Fraud 100

Fraud Idaho Innovation San Francisco 100

PYMNTS

OCTOBER 13, 2020

Across the globe, terrorists and criminals are leveraging cryptos in what is gearing up to be a significant national security threat to the United States. billion of cryptocurrency reportedly was lost to theft or fraud – double that of the previous year. That’s according to the U.S.

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cryptocurrency United States social media Regulation 206

PYMNTS

JANUARY 1, 2021

As reported in this space , the DSA and DMA cover online marketplaces, social media and other platforms. The proposal also mandates more disclosure on "online advertising and on the algorithms used to recommend content to users.". The watchdog would be known as the Digital Markets Unit. which of course is Brexit-ing the EU).

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Regulation social media Course Apple 352

PYMNTS

APRIL 21, 2020

For bigger scores like financial institutions (FIs) and online merchants, scammers are using ransomware, account takeovers (ATO), phishing and other malicious means to shake down companies already reeling from disruptions. Foiling AP fraud may be tricky, but automation systems can bring payments security to the next level.”.

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Fraud Security United States System 159