Expert insights. Personalized for you.
The rising trend of digitization in commerce and the increased occurrence of card-not-present fraud were not created by the COVID-19 pandemic. Those dynamics have made the dangers of fraud far less abstract to consumers. MORE
19) announced that its Sigma Instant Desktop Issuance product will set “the standard for simple, secure and smart instant-ID solutions across enterprise, healthcare, government, higher education and financial institutions (FIs)." All the while, security is a paramount need. MORE
Businesses are also examining virtual card options that can allow employees to make company payments securely and conveniently during the pandemic. Firms are also prioritizing security as they transact online more heavily as well. Virtual Cards To Bring Greater Security To Transactions. MORE
Pandemic-related fraud attempts continue to climb. 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. MORE
They are going to have to update how they mitigate and control fraud and risk and update their systems. With a few changes and efforts to fill in these obvious gaps, they could solve this problem and have a very comprehensive fraud and risk solution,” she said. MORE
Payments and commerce fraud has its own ecosystem, one that includes criminals, servers and other computing devices, IP addresses, compromised payment cards and stolen personal data, and even houses and other physical locations. That’s what Feedzai is trying to do — it is using machine learning (ML), artificial intelligence (AI), human expertise and link analysis techniques to, in a way, map the genome of digital fraud so as to prevent it. The Biology Of Fraud. MORE
Here, Machicao explains how his firm helped clients protect themselves from escalating fraud risks with the COVID-triggered wave of CNP payments. The payment and fraud landscape is almost unrecognizable today compared to just a few short months ago. MORE
Hackers are flocking to loyalty and rewards programs, pushing marketers to embed extra fraud technology to stem financial losses. Payment fraud Loyalty and rewards Retailers MORE
The pilot leverages Keyno’s CVVkey technology that uses a dynamic card verification value 2 (CVV2) code to provide a higher level of security against fraud for online and mobile payments. MORE
At a time when COVID-19 has seen global eCommerce and digital traffic grow by nearly 70 percent, security experts have braced for a commensurate surge in online fraud as the holiday shopping season continues. MORE
About 70 percent of the 500 companies surveyed said that they expected remote working during the pandemic to increase the cost of a breach; four-fifths told researchers said they expected it will take longer to notice and secure a breach. MORE
The European Union’s long-anticipated 5th Anti-Money Laundering Directive (5AMLD), which modernizes security rules to reflect the needs and threats facing today’s economy, took effect in mid-January, and its impacts are already being felt across the payments space. However, several crypto exchanges and wallet providers have decided to shutter or relocate to countries with weaker security regulations, rather than comply with the new obligations. MORE
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. Security & Fraud biometrics Coronavirus Featured News fraud News podcast Security trulioo MORE
Mastercard has unveiled its artificial intelligence (AI)-fueled Cyber Secure tool suite, which lets banks evaluate cyber risk throughout their ecosystems and stop possible breaches from occurring, according to a Friday (Oct. MORE
This year has been even worse on the fraud front,” we learn from the new PYMNTS Preventing Financial Crimes Playbook , done in collaboration with NICE Actimize , “as financial crime stresses FIs that are already confronting the pandemic, economic struggles and an unpredictable political climate. MORE
Securities and Exchange Commission (SEC) Chairman Jay Clayton , speaking on CNBC , said businesses need to be more aware of the threats posed to their companies from attacks. Security & Fraud Cybersecurity fraud Microsoft News What's Hot MORE
“Banking is rapidly becoming more omnichannel, and FIs need to be sure they can safeguard customers across all the products through which they access their financial services,” according to the May 2020 FI Fraud Decisioning Playbook , produced by PYMNTS and sponsored by Simility. It’s a game of inches, but in the financial sector, small wins add up to millions in thwarted fraud attempts. MORE
In the ongoing scandal of Wirecard , under fire for fraud, the focus is now turning to auditors Ernst & Young (EY), which reportedly failed to report Wirecard’s “unorthodox financial arrangements” as far back as 2016, The Wall Street Journal (WSJ) reported. Security & Fraud Audit Ernst & Young EY fraud News scandal security & fraud What's Hot Wirecard MORE
Online Operations Security Technology Aite Group fdic fraud hackers JPMorgan Chase phishing Q2The most vulnerable point in a bank’s network today might just be Bill over in marketing — or any employee. Humans are by nature vulnerable to social engineering and may discuss where they work on social media — LinkedIn is a treasure trove for would-be bank hackers. A common attack against a Read More. MORE
As has historically been the case with commerce security upgrades that roll in by government mandate, the path to European Union adoption of 3D Secure 2.0 will ultimately make it over the finish line because, bumps aside, it’s effective and reduces digital sales fraud. MORE
To streamline the enrollment process, while reducing the potential for fraud, GIACT released a new white paper, Mitigating Mobile Network Fraud with Secure Subscriber Enrollment , detailing the best practices in secure digital enrollment MORE
And even before then, as evidenced by an earlier conversation between Karen Webster and Drew Edwards , CEO of Ingo Money , mobile deposit fraud was increasingly becoming a favorite vector for criminals. Overall, check fraud is costing banks billions of dollars annually, noted Edwards. MORE
Fraud detection company DataVisor, which uses artificial intelligence (AI) to help find fraud activity and correct it, has released a new anti-fraud solution called dEdge, which can detect attacks and malicious operations in real time, according to a press release. . With the proliferation of mobile phones and always connected devices, identifying fraud is becoming more difficult, the company said, and it can span “multiple vectors.”. MORE
Mastercard has announced a series of consumer protections aimed at protecting customers and merchants from fraud at fuel stations. The New York payment network giant said fraud was up 17 percent at gas pumps through the end of last year through its Europay, Mastercard and Visa ( EMV ) credit card terminals that allow chip cards and smart cards. Security & Fraud Editors' Picks fraud Fraud Prevention Fuel Payments gas stations MasterCard News Security What's Hot MORE
The Electronic Crimes Task Forces and Financial Crimes Task Forces will be merged into the Cyber Fraud Task Forces (CFTF). Since the onset of the pandemic, the Secret Service, a division of the Department of Homeland Security , said it has focused on deterring criminal activity related to the pandemic and recovering stolen funds from Americans. Meanwhile, “traditional financial crimes investigators worked to secure and protect the U.S. MORE
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. SocialCatfish.com, the identity verification nonprofit, reported U.S. MORE
The security method offers real-time authentication checks to combat phony chargebacks, says Paay CEO Yitz Mendlowitz. Risk Payment fraud Digital payments Merchant E-Commerce MORE
The risk of fraud continues to climb for organizations of all sizes as the latest data reveals third-quarter spikes in business email compromise and ransomware scams. Plus, the latest allegations of fraud hit the PPE supply chain, and the U.S. MORE
Mastercard has rolled out a set of AI-powered tools to thwart fraud and data breaches across banks' ecosystems, particularly to benefit acquirers’ online merchants. Acquirers Artificial intelligence Fraud detection Data security Fraud prevention M&A Mastercard MORE
But he added that fighting fraud isn’t about building the highest possible wall. After all, fraudsters will always find a way to build a ladder, and firms that impose too-onerous security run the risk of losing legitimate consumers by adding excess friction to the process. MORE
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. MORE
According to an emailed press release, “this advanced service focuses on providing credit union users with concierge-like fraud consulting.” Credit unions can pick and choose what kinds of fraud they would like to focus on. MORE
When the global pandemic ends, banks should anticipate that the rate of fraud will likely have grown faster than at any other point in history. The post To reduce cyber fraud, banks must shatter their security silos appeared first on Accenture Banking Blog. MORE
Fraud targeting digital banking users has been around as long as digital banking itself, but it has recently become more prevalent. The pandemic is exacerbating the problem, with a study finding that 22 percent of Americans were the targets of pandemic-related fraud attempts as of March. MORE
Consumers are increasingly concerned about protecting their payment details from fraud when shopping online,” according to PYMNTS’ November 2020 Next-Gen Debit Tracker ® done in collaboration with PULSE , a Discover company. MORE
Mobile Payments Today
MARCH 16, 2020
To streamline the enrollment process, while reducing the potential for fraud, GIACT released a new white paper, Mitigating Mobile Network Fraud with Secure Subscriber Enrollment , detailing the best practices in secure digital enrollment
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. Security & Fraud biometrics Coronavirus Featured News fraud News podcast Security trulioo
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Accenture
OCTOBER 30, 2020
When the global pandemic ends, banks should anticipate that the rate of fraud will likely have grown faster than at any other point in history. The post To reduce cyber fraud, banks must shatter their security silos appeared first on Accenture Banking Blog.
PYMNTS
OCTOBER 21, 2020
This year has been even worse on the fraud front,” we learn from the new PYMNTS Preventing Financial Crimes Playbook , done in collaboration with NICE Actimize , “as financial crime stresses FIs that are already confronting the pandemic, economic struggles and an unpredictable political climate.
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PYMNTS
OCTOBER 30, 2020
Mastercard has unveiled its artificial intelligence (AI)-fueled Cyber Secure tool suite, which lets banks evaluate cyber risk throughout their ecosystems and stop possible breaches from occurring, according to a Friday (Oct.
PYMNTS
NOVEMBER 16, 2020
The risk of fraud continues to climb for organizations of all sizes as the latest data reveals third-quarter spikes in business email compromise and ransomware scams. Plus, the latest allegations of fraud hit the PPE supply chain, and the U.S.
|
PYMNTS
DECEMBER 2, 2020
At a time when COVID-19 has seen global eCommerce and digital traffic grow by nearly 70 percent, security experts have braced for a commensurate surge in online fraud as the holiday shopping season continues.
PYMNTS
DECEMBER 2, 2020
Consumers are increasingly concerned about protecting their payment details from fraud when shopping online,” according to PYMNTS’ November 2020 Next-Gen Debit Tracker ® done in collaboration with PULSE , a Discover company.
PYMNTS
NOVEMBER 16, 2020
Fraud targeting digital banking users has been around as long as digital banking itself, but it has recently become more prevalent. The pandemic is exacerbating the problem, with a study finding that 22 percent of Americans were the targets of pandemic-related fraud attempts as of March.
PYMNTS
SEPTEMBER 27, 2020
About 70 percent of the 500 companies surveyed said that they expected remote working during the pandemic to increase the cost of a breach; four-fifths told researchers said they expected it will take longer to notice and secure a breach.
Payments Source
NOVEMBER 17, 2020
The pilot leverages Keyno’s CVVkey technology that uses a dynamic card verification value 2 (CVV2) code to provide a higher level of security against fraud for online and mobile payments.
|
PYMNTS
JANUARY 15, 2020
Fraud detection company DataVisor, which uses artificial intelligence (AI) to help find fraud activity and correct it, has released a new anti-fraud solution called dEdge, which can detect attacks and malicious operations in real time, according to a press release. . With the proliferation of mobile phones and always connected devices, identifying fraud is becoming more difficult, the company said, and it can span “multiple vectors.”.
Payments Source
OCTOBER 30, 2020
Mastercard has rolled out a set of AI-powered tools to thwart fraud and data breaches across banks' ecosystems, particularly to benefit acquirers’ online merchants. Acquirers Artificial intelligence Fraud detection Data security Fraud prevention M&A Mastercard
PYMNTS
JULY 29, 2020
But he added that fighting fraud isn’t about building the highest possible wall. After all, fraudsters will always find a way to build a ladder, and firms that impose too-onerous security run the risk of losing legitimate consumers by adding excess friction to the process.
PYMNTS
NOVEMBER 27, 2020
Businesses are also examining virtual card options that can allow employees to make company payments securely and conveniently during the pandemic. Firms are also prioritizing security as they transact online more heavily as well. Virtual Cards To Bring Greater Security To Transactions.
PYMNTS
OCTOBER 22, 2020
As has historically been the case with commerce security upgrades that roll in by government mandate, the path to European Union adoption of 3D Secure 2.0 will ultimately make it over the finish line because, bumps aside, it’s effective and reduces digital sales fraud.
Payments Source
JUNE 20, 2019
Hackers are flocking to loyalty and rewards programs, pushing marketers to embed extra fraud technology to stem financial losses. Payment fraud Loyalty and rewards Retailers
Bank Innovation
APRIL 20, 2016
Online Operations Security Technology Aite Group fdic fraud hackers JPMorgan Chase phishing Q2The most vulnerable point in a bank’s network today might just be Bill over in marketing — or any employee. Humans are by nature vulnerable to social engineering and may discuss where they work on social media — LinkedIn is a treasure trove for would-be bank hackers. A common attack against a Read More.
Payments Source
MAY 31, 2020
The security method offers real-time authentication checks to combat phony chargebacks, says Paay CEO Yitz Mendlowitz. Risk Payment fraud Digital payments Merchant E-Commerce
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.
PYMNTS
JANUARY 23, 2020
The European Union’s long-anticipated 5th Anti-Money Laundering Directive (5AMLD), which modernizes security rules to reflect the needs and threats facing today’s economy, took effect in mid-January, and its impacts are already being felt across the payments space. However, several crypto exchanges and wallet providers have decided to shutter or relocate to countries with weaker security regulations, rather than comply with the new obligations.
PYMNTS
NOVEMBER 17, 2020
The rising trend of digitization in commerce and the increased occurrence of card-not-present fraud were not created by the COVID-19 pandemic. Those dynamics have made the dangers of fraud far less abstract to consumers.
PYMNTS
MAY 18, 2020
Mastercard has announced a series of consumer protections aimed at protecting customers and merchants from fraud at fuel stations. The New York payment network giant said fraud was up 17 percent at gas pumps through the end of last year through its Europay, Mastercard and Visa ( EMV ) credit card terminals that allow chip cards and smart cards. Security & Fraud Editors' Picks fraud Fraud Prevention Fuel Payments gas stations MasterCard News Security What's Hot
PYMNTS
NOVEMBER 23, 2020
And even before then, as evidenced by an earlier conversation between Karen Webster and Drew Edwards , CEO of Ingo Money , mobile deposit fraud was increasingly becoming a favorite vector for criminals. Overall, check fraud is costing banks billions of dollars annually, noted Edwards.
PYMNTS
NOVEMBER 29, 2020
Securities and Exchange Commission (SEC) Chairman Jay Clayton , speaking on CNBC , said businesses need to be more aware of the threats posed to their companies from attacks. Security & Fraud Cybersecurity fraud Microsoft News What's Hot
PYMNTS
OCTOBER 30, 2020
Here, Machicao explains how his firm helped clients protect themselves from escalating fraud risks with the COVID-triggered wave of CNP payments. The payment and fraud landscape is almost unrecognizable today compared to just a few short months ago.
PYMNTS
NOVEMBER 10, 2020
According to an emailed press release, “this advanced service focuses on providing credit union users with concierge-like fraud consulting.” Credit unions can pick and choose what kinds of fraud they would like to focus on.
PYMNTS
AUGUST 11, 2020
No one will call to ask for your bank account, credit card or Social Security number, the FTC said. losses from COVID-19 fraud have reached nearly $100 million since the pandemic emerged in March.
PYMNTS
JULY 12, 2020
The Electronic Crimes Task Forces and Financial Crimes Task Forces will be merged into the Cyber Fraud Task Forces (CFTF). Since the onset of the pandemic, the Secret Service, a division of the Department of Homeland Security , said it has focused on deterring criminal activity related to the pandemic and recovering stolen funds from Americans. Meanwhile, “traditional financial crimes investigators worked to secure and protect the U.S.
PYMNTS
MAY 29, 2020
“Banking is rapidly becoming more omnichannel, and FIs need to be sure they can safeguard customers across all the products through which they access their financial services,” according to the May 2020 FI Fraud Decisioning Playbook , produced by PYMNTS and sponsored by Simility. It’s a game of inches, but in the financial sector, small wins add up to millions in thwarted fraud attempts.
PYMNTS
JUNE 28, 2020
In the ongoing scandal of Wirecard , under fire for fraud, the focus is now turning to auditors Ernst & Young (EY), which reportedly failed to report Wirecard’s “unorthodox financial arrangements” as far back as 2016, The Wall Street Journal (WSJ) reported. Security & Fraud Audit Ernst & Young EY fraud News scandal security & fraud What's Hot Wirecard
PYMNTS
SEPTEMBER 28, 2020
Pandemic-related fraud attempts continue to climb. 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.
PYMNTS
JULY 21, 2020
They are going to have to update how they mitigate and control fraud and risk and update their systems. With a few changes and efforts to fill in these obvious gaps, they could solve this problem and have a very comprehensive fraud and risk solution,” she said.
PYMNTS
OCTOBER 19, 2020
19) announced that its Sigma Instant Desktop Issuance product will set “the standard for simple, secure and smart instant-ID solutions across enterprise, healthcare, government, higher education and financial institutions (FIs)." All the while, security is a paramount need.
PYMNTS
OCTOBER 29, 2018
Payments and commerce fraud has its own ecosystem, one that includes criminals, servers and other computing devices, IP addresses, compromised payment cards and stolen personal data, and even houses and other physical locations. That’s what Feedzai is trying to do — it is using machine learning (ML), artificial intelligence (AI), human expertise and link analysis techniques to, in a way, map the genome of digital fraud so as to prevent it. The Biology Of Fraud.
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