PYMNTS

OCTOBER 9, 2020

9) that hackers may have gained information about customers' personal email accounts, Reuters reported. Bloomberg News on Friday reported that a number of Robinhood customers had their accounts taken over in recent weeks, and they were unable to reach anyone at the company as the intruders liquidated positions and stole the proceeds.

Report 336

Report Security Fraud Tools 336

Abrigo

MARCH 29, 2023

Detecting PPP fraud after the program's end date BSA and fraud professionals saw a spike in fraud during the first two rounds of PPP funding. Takeaway 1 Prosecutors call PPP fraud the largest fraud in a generation. Here's how to detect fraudulent loans still in the portfolio.

Fraud 195

Fraud Trends Taxes Training 195

PYMNTS

JULY 9, 2020

The July FI Fraud Decisioning Playbook examines how FIs are working to better detect and defend against ATOs. Around The FI Fraud Decisioning World. Cybercriminals have become adept at stealing customers’ usernames and passwords, details that they can then use to log in to victims’ accounts without triggering fraud alarms.

Fraud 261

Fraud Report Tools Security 261

PYMNTS

JULY 1, 2020

As a one-size-fits-all solution does not exist for the increasing problem of synthetic identity fraud, The Federal Reserve reports that experts suggest a “comprehensive approach” for the challenge. Payment System” report. . percent of new accounts, according to the report. percent and 0.6

Fraud 190

Fraud Report Analysis Study 190

PYMNTS

AUGUST 5, 2020

SocialCatfish.com, the identity verification nonprofit, reported U.S. losses from COVID-19 fraud and ID theft have reached nearly $100 million since the pandemic emerged in March, according to Reuters. Even small states saw huge increases in COVID-related fraud in recent months. Those cases have cost victims a total of $97.5

Study 280

Study Fraud Pennsylvania California 280

PYMNTS

DECEMBER 16, 2020

Mobile ordering apps are largely responsible for keeping the industry above water, but fraud still plagues the sector. And while promising news regarding COVID-19 vaccines may have put the end of the pandemic in sight, the restaurant industry’s growing fraud concerns will not cease as abruptly.

Fraud 310

Fraud social media Mobile Trends 310

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 . Trackers and Reports.

Fraud 141

Fraud Apple California Innovation 141

PYMNTS

AUGUST 3, 2020

When it comes to B2B payments fraud, it’s not a matter of if it happens, but when. Speaking with Karen Webster in a recent interview , OnPay Solutions President and CEO Neal Anderson explained that organizations have to prepare themselves to mitigate the fraud threat, even as employees work from home. ” $4.13 ” $4.13

Fraud 328

Fraud Payments Philadelphia Regional 328

PYMNTS

AUGUST 21, 2020

ATMs are common avenues for fraud, however, especially those that are running outdated software. For more on these and other digital-first banking news items, download this month’s Tracker. These machines can be vulnerable to fraud, however, ranging from physical techniques like card skimmers to digital methods like identity theft.

Analytics 266

Analytics Fraud ATM Report 266

Abrigo

DECEMBER 28, 2022

Most-read blogs on financial crime in 2022 Synthetic ID fraud, AML quality control, and SAR writing topics were among Abrigo's top blogs on AML/CFT and fraud this year. . Takeaway 1 AML/CFT and fraud professionals often keep up to date on industry trends by reading Abrigo's blog. Abrigo's top AML/CFT articles.

Fraud 195

Fraud Training Compliance Regulation 195

PYMNTS

OCTOBER 9, 2020

The October Next-Gen Debit Tracker® analyzes how both digital shopping and digital fraud are growing simultaneously, and what merchants can do to ensure that debit-based card-not-present (CNP) transactions are protected. These include running scheduled checks on their platforms to detect fraud.

Fraud 188

Fraud Retail Report Online 188

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. A growing target for elder fraud and exploitation. Fraud Tactics. Baby Boomers. Learn More.

Fraud 195

Fraud Training United States Survey 195

PYMNTS

DECEMBER 28, 2020

Nacha is issuing a warning to accounts payable professionals with regards to the rising threat of fraud. Further, Nacha said, the survey revealed AP professionals are facing increasing fraud attempts that target AP processes specifically. But accounts payable is far from the only back-office financial workflow at risk of fraud.

Fraud 291

Fraud Payments Survey Lending 291

PYMNTS

SEPTEMBER 28, 2020

Morgan Chase is stepping up its payment fraud protection services for small- to medium-sized businesses (SMBs) to help them combat scam and fraud attempts, Reuters reported. The bank is implementing a new self-service "fraud hub," which will let SMBs set alerts for unusually large payments, controlling who can get paid.

Fraud 266

Fraud Payments Tools Report 266

PYMNTS

DECEMBER 18, 2020

Cybercriminals are well aware that merchants are setting higher thresholds for blocking transactions, which is a major flaw of rules-based fraud prevention strategies.”. Digital fraud is a longstanding issue for retailers and banks. Furthermore, 22 percent of Americans have reported being targeted by COVID-related fraud.

Report 333

Report Fraud Strategy Retail 333

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. Report: Digital Lender SoFi Eyes IPO Via SPAC. Trackers And Reports. New Data: Tracking The Consumer, Merchant Digital Shift Down Under.

Trends 175

Trends Fraud Millennials Community Bank 175

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. . Trackers And Reports. Scotiabank: Why Banks Need To Rethink Personalization .

Fraud 159

Fraud Leadership Kentucky social media 159

PYMNTS

SEPTEMBER 28, 2020

Pandemic-related fraud attempts continue to climb. In a report by OpenText , researchers found that one-quarter of Americans was targeted in a coronavirus-related phishing email attempt, and more than three-quarters said they have opened emails from unknown senders. That's not only bad news for individuals, however.

Fraud 241

Fraud Training California Security 241

PYMNTS

OCTOBER 15, 2020

The FBI is warning homebuyers to be on the lookout for internet criminals who are sneaking into online conversations between buyers and mortgage companies or other participants in the sale process and providing false instructions that dupe purchasers into wiring funds to the criminals’ accounts, CNBC reported Thursday (Oct.

Fraud 162

Fraud Report America California 162

PYMNTS

SEPTEMBER 29, 2020

An EY whistleblower has alleged the global accounting firm was warned as far back as 2016 that senior managers at Wirecard may have committed fraud and one had tried to bribe an auditor, the Financial Times (FT) reported. EY was Wirecard’s auditor for more than a decade.

Fraud 189

Fraud Report Management Company 189

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.

Fraud 298

Fraud New York United States Security 298

PYMNTS

MARCH 28, 2019

German financial and payments company Wirecard has filed a lawsuit against the Financial Times for a series of articles the news organization wrote alleging misconduct and fraud in its accounting, Reuters reported. The company’s shares climbed 30 percent on the news of the report.

Report 122

Report Regional Fraud Company 122

PYMNTS

SEPTEMBER 23, 2020

A recent study from PwC found that 47 percent of companies had experienced fraud at least once in the past two years, with a grand total of $42 billion in funds stolen over this period of time. There were 223,163 cases of identity theft that year across all generations, with 42 percent of them consisting of bank and credit card fraud.

Technology 208

Technology Report Fraud Study 208

PYMNTS

DECEMBER 21, 2020

with money laundering, fraudulent banking and computer fraud, Reuters reported. “It cryptocurrency exchange Exmo reported a “major” security breach on Mon. In other news, Russia’s VTB Bank has teamed with blockchain platform Masterchain to issue digital bank guarantees backed by blockchain, the bank announced in a press release.

blockchain 206

blockchain Bitcoin Fraud Report 206

PYMNTS

OCTOBER 1, 2019

A new report by the Federal Trade Commission (FTC) has revealed that millennials are 25 percent more likely to report losing money to fraud than consumers ages 40 and over. Online shopping fraud reports include complaints about items that are never delivered or are not as they were advertised.

Millennials 149

Millennials Fraud Report social media 149

PYMNTS

JULY 1, 2019

In payments fraud, it pays — literally — to change up the game a bit. The report shows the use of malicious emails, rather than attachments, is on the rise — which darkreading.com said comes along with new variants of impersonation fraud. Individual Fraud Cases, Here and Abroad. The data across a sample set of 1.3

Fraud 154

Fraud Report Minnesota Branding 154

PYMNTS

JULY 25, 2019

A new report from GIACT Systems has revealed that $3.4 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.

Fraud 148

Fraud Report Mobile Strategy 148

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. The biggest story this past week, of course, was the revelation that as much as $2.1

Fraud 198

Fraud Report Resources Company 198

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. Leveraging Machine Learning, Rules-Based Analysis To Fight Debit Fraud. Around The Next-Gen Debit World. Read the full story in the Tracker.

Fraud 303

Fraud Cards Analysis Tools 303

PYMNTS

AUGUST 21, 2020

More than $50 billion of cryptocurrency was transferred from virtual wallets in China to other parts of the world last year, a potential violation of the nation’s strict limits on how much money can be sent abroad, according to a new report. In contrast, the report said $38 billion in cryptocurrency left Western Europe.

cryptocurrency 349

cryptocurrency Report Regional Capital 349

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

DECEMBER 29, 2020

the Associated Press (AP) reported. According to Anadolu Agency , Turkey's state-run news agency, prosecutors issued the warrant after a joint probe by Turkish financial crime investigators and tax authorities into a reported $132 million money laundering scheme in Turkey, the AP reported. There are also 2.3

Taxes 167

Taxes Fraud Utah US 167

PYMNTS

DECEMBER 2, 2019

In recent announcements, the numbers have been supporting the argument that cryptos are becoming a favored avenue of theft and fraud. Consider the fact that, as estimated by CipherTrace’s third-quarter report for 2019, the total volume of fraud tied to crypto shows losses in the range of $4.4 citizenship.

Fraud 130

Fraud Report cryptocurrency National 130

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.

Fraud 212

Fraud System Industry Security 212

PYMNTS

JANUARY 25, 2021

Digital banking apps in particular have benefited from this new trend, with 60 percent of bank customers using such apps more often during the health crisis instead of visiting brick-and-mortar branches. FIs’ fraud-fighting budgets are hitting record highs as the threat of cybercrime continues to grow.

Fraud 235

Fraud Digital Banking Missouri Trends 235

PYMNTS

NOVEMBER 8, 2020

The federal Paycheck Protection Program (PPP) designed to blunt the economic impact of the pandemic is beset by extensive instances of fraud, The Wall Street Journal (WSJ) reported, attributing the conclusion to public records and interviews with government officials. The program provided about $525 billion to 5.2 million businesses.

Fraud 271

Fraud Report Company Online 271

PYMNTS

APRIL 15, 2020

Despite near universal agreement that AI holds the key to decoding numerous medical mysteries, at present one of its most valuable uses is fighting fraud, waste and abuse — FWA in the industry parlance — which threatens to worsen in the near term due to coronavirus-related cybercrime. Fraud, Waste and Abuse (FWA).

Fraud 254

Fraud System Taxes Report 254