Abrigo

MAY 20, 2022

Fraud on Alert for 2022 A review of SAR data , government agenc y releases, a nd fraud findings found these f raud c oncerns and trends to wat ch in 2022. Takeaway 1 An Abrigo review of SAR data, government agency releases, and fraud findings revealed fraud trends to watch for. Fraud Concerns. Starting Point.

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Trends Fraud Training Survey 195

PYMNTS

SEPTEMBER 18, 2020

It’s the end of the workweek, and the PYMNTS Weekender is here to make sure you didn’t miss anything with the latest in payments and commerce news. We have deep dives on digital onboarding at universities, subscriptions and quick-service restaurant (QSR) friendly fraud. Top News . Helping QSRs Fight Food Fraud.

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Fraud Apple California Innovation 141

PYMNTS

SEPTEMBER 20, 2019

Plot Thickens as FBI Probes Alleged MyPayrollHR Fraud. News came at the end of the week that the FBI and the New York State Department of Labor are investigating allegations that MyPayrollHR , which abruptly shut down earlier in the month, diverted millions of dollars into its coffers that should have gone to employees.

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Fraud Payments Bitcoin Lending 108

PYMNTS

MARCH 15, 2019

In today’s digital payments ecosystem, businesses, banks and consumers alike want access to their money as fast as possible. While person-to-person (P2P) payment solutions and real-time payment platforms are making the quick exchange of funds possible, fraudsters also see an opening to exploit these systems’ vulnerabilities.

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Fraud Payments Security System 153

PYMNTS

NOVEMBER 17, 2020

The number of real-time payments has risen dramatically in recent years, and APP fraud has grown alongside it. The nature of these payments means that, once they have been made, consumers cannot reverse them. Bad actors typically perpetrate APP fraud in several ways. APP Fraud Ramps Up.

Fraud 223

Fraud Payments Survey Security 223

PYMNTS

FEBRUARY 1, 2021

The Interstate Technology & Regulatory Council (ITRC) released new data on the state of cyberattacks and data breaches with some surprising news: data breaches were actually down in 2020 year-over-year. At the same time, as this week's B2B Data Digest reveals, fraud can come from many sources, not only outside of the enterprise.

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Data Fraud Missouri Report 341

PYMNTS

DECEMBER 11, 2020

In this week's news, we saw two blockbuster IPOs, arguments and stalemates over a new stimulus bill, and new data on consumers' digital shopping trends. Retroactive Jobless Payments A Sticking Point In Coronavirus Stimulus Talks. PayPal has introduced QR code payments in iZettle’s point-of-sale app in the U.K.

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Trends Fraud Millennials Community Bank 175

PYMNTS

JULY 2, 2020

But the bad news is that fraudsters see a once-in-a-lifetime opportunity to jump into the increased flow of transactions, Gary Sevounts , executive at fraud detection firm Kount , told PYMNTS in a recent conversation. He added that fraudsters have been showing up across the board in terms of fraud types attempted.

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Fraud Cards System Tools 280

PYMNTS

JULY 24, 2020

It’s the end of the work week, and the PYMNTS Weekender is here to make sure you didn’t miss anything with the latest in payments and commerce news. We have deep dives into opening banking, synthetic ID fraud and supplemental jobless benefits. . Salesforce Boosts Payments Capabilities For Users.

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Fraud Leadership Kentucky social media 159

PYMNTS

AUGUST 24, 2020

In a case that highlights how anybody — truly, anybody — can be a victim of invoice fraud, federal officials have reportedly charged two brothers in New York State for an alleged $19 million scam targeting Amazon. Fitzhugh warned, "Invoice fraud is not a victimless crime. Canada and the world over. Canada and the world over.

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PYMNTS

DECEMBER 14, 2018

In an effort to help authorized push payment (APP) fraud victims, The U.K.’s s Financial Conduct Authority (FCA) unveiled new rules on Friday (Dec. As a result, additional banks or payment services providers (PSPs) may have to compensate victims of those kinds of scams, Financial Times reported.

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Fraud Regulation Payments Groups 166

PYMNTS

MARCH 13, 2020

It’s the end of the workweek, and the PYMNTS Weekender is here to make sure you didn’t miss anything with the latest in payments and commerce news. We have deep dives into business-to-business (B2B) payments for business-to-consumer (B2C) merchants, biometrics and Amazon ’s “Just Walk Out” technology. . Top News .

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Seattle Payments Retail Meeting 231

PYMNTS

SEPTEMBER 21, 2020

Artificial intelligence (AI) can improve the eCommerce experience – not just in terms of warding off fraud, but also in making sure payments can be processed efficiently and that the most effective payment gateways are accessed. At least some of that data, he said, can be gathered at the point of sale interaction.

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Fraud Payments Cards Security 311

PYMNTS

SEPTEMBER 5, 2019

Today in the payments news roundup, almost 40 percent of U.S. workers are engaged with the gig economy at some level, and most of them are hoping that instant and faster payments continue to grow in scope. SCA Delay: A Payments Opportunity in Disguise? Visa: Chip Cards Reduce Counterfeit Fraud by 87 Pct.

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Fraud Payments Cards Innovation 116

PYMNTS

DECEMBER 7, 2020

But the BEC scam is not the only kind of business payments fraud plaguing firms today. This week's B2B Digest looks at how corporate finance scams come in all shapes and sizes, from employee expense fraud to invoice falsification. PYMNTS breaks down the numbers behind the latest cases below.

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Fraud Ohio Indiana Payments 228

PYMNTS

SEPTEMBER 28, 2020

Pandemic-related fraud attempts continue to climb. That's not only bad news for individuals, however. This week's B2B Data Digest looks at the latest figures behind such fraud targeting corporate finance teams. 57 individuals have been charged with Paycheck Protection Program (PPP) fraud , according to Reuters reported. "You

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Fraud Training California Security 241

PYMNTS

DECEMBER 29, 2020

While fraud affects less than 1 percent of all card purchases, consumers who do lose funds from their bank accounts must go through lengthy and often stressful processes to get their money back. Safeguarding debit card payments is increasingly important, with more consumers shopping online during the pandemic. About The Tracker.

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Fraud Cards Analysis Tools 303

PYMNTS

APRIL 10, 2020

It’s the end of the workweek, and the PYMNTS Weekender is here to make sure you didn’t miss anything with the latest in payments and commerce news. We have deep dives into healthcare payments artificial intelligence (AI), subscription churn, and a TurboTax tool for stimulus payments. More than 85,000 people sought $22.2

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Taxes Tools Payments Los Angeles 216

PYMNTS

DECEMBER 17, 2020

Fraud protection specialist Kount and Philadelphia-based payments platform FreedomPay are teaming up to offer “an integrated, complete solution to enable international expansion with fraud-free payments and frictionless customer” experiences.

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Fraud Payments Philadelphia social media 174

PYMNTS

JANUARY 26, 2021

As real-time payment (RTP) schemes move from pilot to implementation worldwide, cybercrooks follow, drawn by the lure of instant ill-gotten gains at scale. percent of executives consider themselves ‘very’ or ‘extremely’ aware of Real-Time Payments, while 71.9 Safeguarding Irreversible Payments. PYMNTS recently reported that “66.7

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Fraud Los Angeles Tools Security 274

PYMNTS

JULY 22, 2019

Apps with a possible security flaw, a malware phishing scheme and possibly, payments fraud, all done in the blink of an eye? In reference to payments, a hacker could conceivably change an invoice to help divert funds into different accounts. The apps have, cumulatively over 1.5 billion users. American Express, Targeted?

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Fraud Payments Security System 180

PYMNTS

JUNE 26, 2020

It’s the end of the work week, and the PYMNTS Weekender is here to make sure you didn’t miss anything with the latest in payments and commerce news. We have deep dives on faster worker pay as well as cloud banking and news on WhatsApp’s payment functionality in Brazil. Top News . Mastercard Inc.

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Apple Payments Meeting Conference 231

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

PYMNTS

APRIL 10, 2019

While corporates are adopting stronger internal controls to combat the threat of payments fraud, new data from the Association for Financial Professionals (AFP) reveals the number of incidents has continued to climb to new heights. ” . ”

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Fraud Payments Survey Report 174

PYMNTS

JANUARY 13, 2020

This week, however, a rundown of the latest B2B payment scams finds that it’s not only external bad actors, but entities’ own internal personnel that is often the cause of fraudulent activity. This week, cybersecurity publication Naked Security reported that $6 million was stolen from a New York company via invoice fraud.

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Fraud Kentucky Colorado Payments 223

PYMNTS

DECEMBER 16, 2019

’Tis the season for corporate fraud? The holidays are unfortunately one of the busiest times of the year for fraudsters looking to capitalize on the surge of shopping and payments activity. Unfortunately, this time of year fails to bring relief for businesses that fall victim to corporate and B2B payments fraud, too.

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Fraud North Carolina Payments Delaware 149

PYMNTS

OCTOBER 17, 2018

Fraudulent noncash payment values have increased by a lot in the U.S. between 2012 and 2015, surpassing growth in noncash payments, the Federal Reserve found. According to data from the Federal Reserve Payments study, it found the value of noncash fraud jumped 37 percent to $8.3 billion in 2015 from $6.1 billion in 2012.

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Fraud Payments Cards United States 184

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

DECEMBER 9, 2020

9) that it’s successfully completed its acquisition of GIACT and has expanded its suite of products for fraud prevention and identity verification. GIACT’s real-time payment analytics are a great addition to our existing strength in anti-money laundering and digital identity verification,” he said, according to the release. “We

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Fraud Analytics Security Online 200

PYMNTS

DECEMBER 23, 2019

Payments messaging technology provider SWIFT recently opened up its Know Your Customer (KYC) platform, the KYC Registry , directly to corporates. SWIFT’s decision to open up the registry also reflects the growing threat of fraud in corporate payments. million fine was issued by the U.K.’s

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Fraud Maryland Payments New York 131

Payments Source

OCTOBER 2, 2019

Recent reports that counterfeit card fraud is markedly down in the U.S. since the introduction of EMV chip cards in 2015 is fantastic news, except for retailers that also sell goods sells online. In that case fraud has merely moved from an in-store payment attempt to a card not present (CNP) one.

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Fraud Payments Cards Retail 122

PYMNTS

APRIL 21, 2020

Cybersecurity experts are scrambling to fight the sheer number of different digital fraud forms that are on the rise, and the ongoing COVID-19 pandemic has only exacerbated this problem. COVID-19 fraud may be new, but it is just the latest iteration of a problem that has been plaguing businesses and consumers for years.

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Fraud System Industry Security 212

PYMNTS

JUNE 22, 2020

Corporate fraud continues to plague businesses large and small, and in this week’s B2B fraud tracker, many of the latest cases of nefarious activity within the enterprise can be traced back to the continued use of paper and legacy systems. billion may be unaccounted for on the books of Germany payments company Wirecard.

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Fraud Report Resources Company 198

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. .

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Fraud Training United States Survey 195

PYMNTS

JUNE 12, 2020

This week’s B2B Venture Capital roundup reflects those changing needs, with B2B fraud mitigation efforts for online businesses emerging as the funding leader. Other investments landed at FinTechs that enable SMBs to manage global payments and banking

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Fraud Payments Capital Fintech 142

PYMNTS

APRIL 7, 2020

The 2020 Association for Financial Professionals (AFP) Payments Fraud and Control Survey underwritten by JPMorgan found that business email compromise (BEC) was the most noted origin of tried or actual fraud incidents in 2019, according to an announcement. ACH payment methods also seem to be of greater interest to scammers.

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Survey Fraud Training Policies 153

PYMNTS

FEBRUARY 19, 2020

Not so long ago, payments cyber fraud was done primarily by brute force, through guessing passwords and usernames — a scattershot approach akin to trial and error, conducted by lone individuals or small groups. Fraud is an industry for the crooks now. Lerdal pointed to P2P payments and eCommerce as key areas of attack.

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Fraud Payments ATM Cards 169