PYMNTS

FEBRUARY 23, 2020

Roughly 300 people signed up for a corresponding “masterclass” for the market in January, which taught them how to set up eWallets and explore the margin-trading strategies available. Reginald Fowler, “an alleged operator behind payment processor Crypto Capital , was charged with wire fraud” on Friday (Feb.

Operations 151

Operations Fraud Capital Marketing 151

Abrigo

JULY 10, 2023

Stay up-to-date on AI fraud trends to protect your clientele Emerging AI fraud schemes reveal holes in financial institution's defenses. Takeaway 2 Improving security questions is a good step to take to avoid text-to-speech AI fraud schemes. Here are several suggestions for tightening security.

Fraud 150

Fraud How To social media Security 150

PYMNTS

JUNE 18, 2019

Unfortunately, platforms that are designed to be seamless are also often attractive targets for fraud. It’s the users who often become the victims in stringent security measures when fraud detection is too broad. This is why fraud-related costs consume large portions of digital platforms’ budgets—to the tune of 2.2 percent).

Fraud 128

Fraud System Strategy Payments 128

PYMNTS

NOVEMBER 3, 2020

A massive spike in fraud of all kinds has taken businesses by surprise and left them scrambling for solutions, Trulioo Chief Operating Officer Zac Cohen told Karen Webster in a recent conversation. Unfortunately, those firms are finding that they’re surrounded by fraud sharks eager to take a bite out of their business.

Fraud 301

Fraud Security Tools User Experience 301

PYMNTS

JANUARY 27, 2021

The ability to view account balances, initiate payments and apply cash within a unified platform can yield major benefits for corporate treasurers, boosting financial visibility through bridging the usually siloed operations of banking, accounting, accounts payable (AP), accounts receivable (AR) and more.

Strategy 289

Strategy Fintech National Industry 289

PYMNTS

JANUARY 21, 2021

Melissa Townsley-Solis, head of GIACT , discusses one of the negative effects of COVID-19: the escalation of fraud in the payments arena. She stresses the importance of small businesses fighting back against fraud in 2021 in order to achieve economic recovery. Fraud was red-hot in 2020. Businesses across the U.S.

Fraud 180

Fraud social media Strategy Maine 180

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. . .

Fraud 279

Fraud Data Policies Operations 279

Abrigo

APRIL 25, 2023

Takeaway 3 Building exit strategies into your program now will save time on future investigations and create a clear path to ending banking relationships. A different department, such as deposit operations, may process the account closure. deposit operations, business banking, consumer deposits, etc.)

Strategy 195

Strategy Training Leadership Fraud 195

Abrigo

MARCH 4, 2022

Synthetic ID fraud is growing quickly and hurts FIs and customers Knowing the schemes associated with synthetic identity fraud and how criminals avoid detection can help minimize losses. Takeaway 1 Synthetic identity fraud is a growing form of identity theft in which an individual is impersonated by using stolen information.

Fraud 195

Fraud Cards Software Trends 195

FICO

MAY 3, 2023

Operating at highly organized and relentless levels, fraud networks have become a multibillion-dollar, global problem. The banking and financial services industry must evolve their fraud-fighting strategies at an equally relentless pace to stay one step ahead. In the US last year, consumers lost at least $8.8

Fraud 52

Fraud Strategy Analytics South Carolina 52

PYMNTS

JUNE 23, 2020

Federal Reserve has introduced a new effort to combat payments fraud. “Designed to allow our corporate customers to stay ahead of the evolving demands of their clientele, this innovative cash management API also supports businesses in their digital transformation and daily operation optimization,” she stated. In the U.S.,

Fraud 266

Fraud Community Bank Virginia Community 266

PYMNTS

MARCH 4, 2020

That’s where the persistence of manual fraud review process can be a problem, said Carl Tucker, vice president of risk solutions at CyberSource , a Visa solution, in a recent conversation with PYMNTS. There is no such thing as manual fraud review on a burrito sale because there is no context in which it could ever be usefully applied.

Fraud 175

Fraud Strategy Customer Experience Tools 175

Perficient

FEBRUARY 29, 2024

Banking institutions are responding by integrating advanced technologies, particularly artificial intelligence and data analytics, into their lending operations to enhance efficiency and adaptability. The emergence of modern alternatives to traditional credit scoring signifies a broader movement toward financial inclusion.

Trends 221

Trends Industry Analytics Compliance 221

PYMNTS

OCTOBER 14, 2019

Money laundering and similar forms of fraud have become more concerning for FIs as reports of cybercrime circulate globally. dollar as their currency of choice on the black market, which means American banks must alter their anti-fraud and AML strategies — especially as regulatory fragmentation divides the U.S.

Strategy 109

Strategy Fraud Innovation Regulation 109

Banking Exchange

NOVEMBER 22, 2021

Valuable suggestions to help financial institutions avoid outages, make accurate business decisions, provide personalized experiences, and fight fraud Technology Feature Tech Management Outsourcing/Cloud Mobile Online Core Systems Digital Feature3.

Operations 78

Operations Strategy Data Fraud 78

PYMNTS

JANUARY 22, 2020

Previously serving as its executive vice president of operations, Schroeder steps in for Judith McGuire, who is now serving in an executive role with PULSE’s parent company, Discover Financial Services. We look forward to her ongoing contributions to PULSE’s success as she leads our product strategy.”.

Operations 131

Operations Management ATM Fraud 131

PYMNTS

AUGUST 17, 2020

When it comes to fraud threats, no company — large or small — is immune. PYMNTS breaks down the numbers of the latest in B2B fraud below. 9 in 10 of ASX 100 companies were found to have lapsed security strategies that allow for email spoofing and invoice scams , a new report from Agari said.

Fraud 237

Fraud Trends Security Report 237

PYMNTS

JANUARY 22, 2020

Previously serving as its executive vice president of operations, Schroeder steps in for Judith McGuire, who is now serving in an executive role with PULSE’s parent company, Discover Financial Services. We look forward to her ongoing contributions to PULSE’s success as she leads our product strategy.”.

ATM 130

ATM Operations Management Fraud 130

Abrigo

MAY 8, 2024

You might also like this webinar, "The check's in the mail: Understanding and preventing check fraud." They can more easily consider how to harness genAI's power to enhance their operations, compliance, risk management, and member or customer experience. That’s equivalent to 9% to 15% of operating profits, the report notes.

Examples 221

Examples Fraud Resources Risk Management 221

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.

Fraud 182

Fraud Payments Cards Strategy 182

PYMNTS

NOVEMBER 26, 2019

As consumers embrace real-time transactions, financial institutions (FIs) must recalibrate their fraud-fighting strategies. In an interview with PYMNTS, Kannan Srinivasan, senior director of risk strategy and analytics for Fiserv , said the bad guys are constantly shifting tactics — so the battle must be joined on several fronts.

Fraud 152

Fraud Payments Strategy Security 152

FICO

APRIL 20, 2021

As customer adoption to open banking accelerates across the UK and Europe, there is no better time than now to pause and make sure all the necessary controls are in place for the continued growth, including an enterprise fraud strategy. . Protecting Open Banking Transactions with Enterprise Fraud Management.

Fraud 52

Fraud Strategy Management Compliance 52

PYMNTS

JANUARY 27, 2020

Such firms cannot grow safely without robust security measures blocking fraud and other abuses from their offerings. Payment service providers (PSPs) must carefully attend to their know your customer (KYC) and know your customer’s customer (KYCC) checks, anti-money laundering (AML) strategies and other fraud prevention approaches.

Strategy 155

Strategy Payments Fraud Tools 155

PYMNTS

APRIL 22, 2019

However, regardless of how corporates adopt faster payment technologies, many experts agree that the acceleration of payments in the country will have profound effects on the broader financial services space, and those changes are likely to impact how companies manage money and operate in a new ecosystem of payments innovation.

Operations 159

Operations Payments System Compliance 159

PYMNTS

JULY 25, 2019

billion was lost due to New Account Fraud (NAF) last year. According to the report, The Evolution of New Account Fraud , produced by Javelin Strategy & Research , NAF tactics have shifted with the growing popularity of online accounts and payments. A new report from GIACT Systems has revealed that $3.4

Fraud 148

Fraud Report Mobile Strategy 148

PYMNTS

DECEMBER 10, 2019

The tools we use to detect, score and prevent fraud — particularly card-not-present fraud in digital transactions — have improved exponentially in the last half-decade. As of today, 85 percent to 95 percent of synthetic fraud identities are easily slipping past risk detection systems that are failing to flag them.

Fraud 158

Fraud System Data Tools 158

PYMNTS

JULY 10, 2019

These platforms promise fast, seamless transactions, which most deliver – but when platforms focus on reducing friction for users, it can backfire and create new vulnerabilities to fraud. An unexpected consequence of the retailer race to offer same-day and one-day delivery is increased fraud exposure. Nearly one-third (30.4

Fraud 140

Fraud Strategy Study Comparison 140

Jack Henry

SEPTEMBER 18, 2023

Community and regional banks and credit unions can learn about payments trends in 2023, FedNow, streamlining experiences, reducing fraud and risk, and the future of payments.

Strategy 97

Strategy Payments Regional Fraud 97

PYMNTS

JULY 8, 2020

He and Nitendra Rajput , Mastercard’s vice president of product development and head of the company’s “AI Garage,” said that in many cases, AI is the only way to scale up sufficiently to meet the challenges the company faces with fraud and other business issues. “It Fighting Fraud in a Post-Pandemic World.

Fraud 274

Fraud Management Risk Management Company 274

PYMNTS

MAY 28, 2020

Social distancing mandates during the COVID-19 pandemic have advanced banking’s trend toward omnichannel operations. This means FIs and account holders must communicate effectively regarding potential fraud and work together to thwart it. Staying ahead of fraud requires constant innovation. Red Flag Behaviors.

Fraud 139

Fraud Mobile Tools Missouri 139

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? It helps BSA Officers and AML/CFT staff collect more data faster, giving them access to real-time analytics and helping them form data-driven strategies for combatting financial crime. So, what are the other benefits of regtech for banks?

Technology 195

Technology Fraud Compliance Regulation 195

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? It helps BSA Officers and AML/CFT staff collect more data faster, giving them access to real-time analytics and helping them form data-driven strategies for combatting financial crime. So, what are the other benefits of regtech for banks?

Technology 195

Technology Fraud Compliance Regulation 195

Independent Banker

JULY 31, 2022

As we enter budgeting season, the answers might be found in a mix of strategies. Consider your branch strategy. Banks that lack proper controls are liable, contends Ghiglieri, to internal and external fraud losses—as well as litigation expenses and regulatory penalties. By Elizabeth Judd. Play the long game. Connors, Jr.,

Strategy 135

Strategy Community Bank Louisville Community 135

PYMNTS

JANUARY 14, 2021

Unsurprisingly, this strategy also means paper checks remain common, which Bhansali described as a payment method that is neither healthy nor sustainable for the sector. B2B eCommerce operations, dubbed Jewel Fleet. For example, this industry is particularly susceptible to fraud and other supply chain risks.

Industry 204

Industry Strategy Retail Trends 204

Perficient

FEBRUARY 28, 2024

Better Pinpoint Your Risk(s): Predictive analytics to better target risks, artificial intelligence to identify fraud, and intelligent automation to improve operational efficiency are at the heart of insurance digital transformation moving forward. LEARN MORE: How Can Regional Insurance Carriers Harness the Power of AI?

Innovation 251

Innovation Regional Strategy Trends 251

PYMNTS

JUNE 27, 2019

Digital fraud prevention company Kount has launched a new artificial intelligence (AI)-driven solution to enhance payments fraud prevention. The company said this latest solution creates the closest simulation of the decision process of an experienced fraud analyst, but in a faster, more accurate and more scalable manner.

Fraud 143

Fraud Tools Customer Experience Policies 143

PYMNTS

OCTOBER 3, 2019

Many FIs and merchants that have fallen victim to fraud traditionally respond by assessing the damage, pinpointing how the attack succeeded and implementing new measures to prevent similar schemes from happening again. The push for more intelligent anti-fraud solutions comes as the costs of such attacks are reaching new heights.

Fraud 194

Fraud Data Resources Tools 194