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. Fiat-focused digital wallets must also boost their security.

Fraud 157

Fraud Security Regulation cryptocurrency 157

PYMNTS

JULY 24, 2019

In the latest Digital Fraud Tracker , PYMNTS examines how fraudsters are utilizing mobile and app-based channels for fraud attacks, as well as why fraudsters are still relying on phishing as a major fraud strategy even as they increase their use of new technologies and techniques. Around the Digital Fraud World.

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Fraud Strategy US United States 129

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. Getting security right also means balancing customers’ security and privacy concerns. Around The Next-Gen Debit World.

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Fraud Cards Analysis Tools 303

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. Plus, the latest allegations of fraud hit the PPE supply chain, and the U.S.

Fraud 242

Fraud Security Data Cards 242

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. APP fraud is not a new occurrence.

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Fraud Security Strategy Digital Banking 182

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

Fraud 128

Fraud System Strategy Payments 128

PYMNTS

NOVEMBER 2, 2018

As such, data security has simultaneously emerged as a renewed focal point for the financial services market, because the more data moves and the more actors touch it, the more exposure that information has to nefarious actors. It’s not the only security concern that this data-sharing trend has created in financial services, however.

Security 194

Security Data Strategy Trends 194

Abrigo

MAY 1, 2023

Keep me informed Download Strategies to destress Decrease stress during your AML/CFT workday Mental health in the workplace is essential and a topic worth discussing without fear. Stay up to date on AML/CFT and fraud trends with more professional development. We can help you navigate changing AML/CFT and fraud regulations.

Strategy 195

Strategy Training Fraud Software 195

PYMNTS

NOVEMBER 10, 2020

Atlanta payments encryption firm Bluefin is partnering with New York mobile payments processor PAAY to advance eCommerce security. Founded in 2007 by Miles and John Perry, who serves as chief executive officer, Bluefin specializes in encryption and tokenization payment and data security. . Each $1 of fraud costs retailers $3.13. .

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Security New York Atlanta Fraud 233

Jack Henry

APRIL 29, 2021

Because while talking about fraud and scams with your accountholders may seem awkward or alarming (after all, banks and credit unions are the most secure places for people to manage their money), highlighting the reality of fraud puts your brand in a position of advocacy.

Branding 88

Branding Fraud Strategy Digital Banking 88

PYMNTS

OCTOBER 14, 2019

Money laundering and similar forms of fraud have become more concerning for FIs as reports of cybercrime circulate globally. Part of the problem is that money laundering controls are easier for fraudsters to anticipate than security measures for other cybercrimes. security standards from those in markets like Europe.

Strategy 109

Strategy Fraud Innovation Regulation 109

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

JULY 9, 2020

The July FI Fraud Decisioning Playbook examines how FIs are working to better detect and defend against ATOs. Relying on static usernames and passwords to authenticate customers is no longer sufficient, and many FIs are therefore examining how tools like biometrics can offer greater security. Around The FI Fraud Decisioning World.

Fraud 261

Fraud Report Tools Security 261

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

PYMNTS

DECEMBER 7, 2020

IBM researchers Claire Zaboeva and Melissa Frydrych said the aim of the attack "may have been to harvest credentials to gain future unauthorized access," possibly with an intent to obtain information into vaccine distribution strategies. But the BEC scam is not the only kind of business payments fraud plaguing firms today.

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Fraud Ohio Indiana Payments 228

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 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

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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Security Fraud ATM Cards 182

PYMNTS

MARCH 28, 2018

billion due to fraud in 2016, and a significant portion of that stems from chargeback fraud. According to LexisNexis , chargeback fraud accounts for 28 percent of all fraud that occurs at an eCommerce company, tied for first place with “ friendly fraud.” Compromise Security For Customer Experience.

Security 110

Security Strategy Fraud Customer Experience 110

PYMNTS

JUNE 23, 2020

Federal Reserve has introduced a new effort to combat payments fraud. Federal Reserve Tackles Fraud Across Rails. Emerging payment rails and digital currencies often tout security as a key value-added differentiator over legacy payment rails. In the U.S., And when it comes to legacy rails, the U.S.

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Fraud Community Bank Virginia Community 266

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. As it stands, EMV cards and other anti-fraud procedures have had a large impact on fraud behavior. Payment System” report. .

Fraud 190

Fraud Report Analysis Study 190

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

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

PYMNTS

DECEMBER 30, 2016

Still, researchers have found, many businesses do just that: RedSeal released a report this month that described the state of corporates’ approach to enterprise security as one of “cyber naïveté,” with many executives believing that their existing strategies are sufficient to ward off a cyberattack.

Fraud 145

Fraud Security Survey Technology 145

PYMNTS

APRIL 15, 2020

While there is no shortage of new things in the world to get used to these days, cybercrime and fraud are, unfortunately, not among them. The good news, both Srinivasan and Awad told PYMNTS, is that while fraud attempts are up among U.S. consumers, fraud losses are not, yet. million pounds out of the unwitting. The New Normal.

Fraud 201

Fraud Risk Management Security Cards 201

FICO

DECEMBER 13, 2022

Biometric Security Crucial for Fraud Protection and CX. Because customers value ease of use and good fraud protection most, FIs must balance scam protection with making things easy for good customers – but not TOO easy. Customers Prefer Biometric Security. FICO Admin. Tue, 07/02/2019 - 02:45. by Sarah Rutherford.

Fraud 52

Fraud Security Survey Customer Experience 52

Payments Dive

AUGUST 3, 2018

Host, Will Hernandez, discusses mobile fraud, how to combat it, and the recent trends to look out for, with Kount's VP of Marketing, Don Bush. Will also chats with Bradley Cooper, editor of Digital Signage Today and Blockchain Tech News, about the future of blockchain.

Trends 170

Trends Fraud Mobile Marketing 170

PYMNTS

OCTOBER 9, 2020

found that 32 percent of consumers have been targeted by some type of pandemic-related fraud , for example. Digital-first banks, insurance firms and merchants are tasked with protecting against the schemes to keep their customers’ data secure. One study on six countries, including Canada, the U.K.

Fraud 208

Fraud Security Mobile Examples 208

PYMNTS

OCTOBER 12, 2020

This growth is a double-edged sword for merchants, as they need to keep up with consumers’ shifting payment expectations online and in-store while protecting their data against increasing numbers of fraud attacks. Shifting Payment Behaviors And Fraud .

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Fraud Retail Online Examples 199

Independent Banker

AUGUST 31, 2022

ICBA’s Bank Security Institute offers critical incident response strategies to keep your physical branch location safe. And as banking processes increasingly moved online, community bankers needed to fortify their online defenses against fraud and cybercrime. In August, ICBA hosted the Bank Security Institute.

Community 91

Community Security Community Bank Fraud 91

PYMNTS

JANUARY 20, 2020

Fraud protection techniques have advanced rapidly over the past decade to keep pace with fraudsters preying on emerging weak points. Banks, businesses and others still have numerous fraud problems to address, from text-based scams and phishing to synthetic identity theft. Fraudsters and the Access Problem. The Technology Barrier .

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Fraud Tools Security Examples 136

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

PYMNTS

OCTOBER 11, 2019

Five Dutch banks recently formed a group to protect their systems against money launderers, but only after three of them shook off fines and anti-money laundering (AML) strategy investigations. Consumers want speed and personalization, but they don’t want to sacrifice security,” he said. AML Strategies and Innovation Quirks.

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Strategy Innovation Fraud Security 123

Payments Dive

AUGUST 3, 2018

Host Will Hernandez, discusses mobile fraud, how to combat it, and the recent trends to look out for, with Kount's vice president of marketing, Don Bush. Will also chats with Bradley Cooper, editor of Digital Signage Today and Blockchain Tech News, about the future of blockchain.

Trends 150

Trends Fraud Mobile Marketing 150

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

SEPTEMBER 9, 2019

The cybersecurity world is witnessing a potentially new, dangerous threat: according to insurance firm Euler Hermes, one of its corporates fell victim to cyber fraud after attackers used sophisticated artificial intelligence (AI) technology to impersonate the firm’s chief executive officer by mimicking his voice on the phone.

Strategy 180

Strategy Security Technology Data 180

PYMNTS

NOVEMBER 27, 2020

Overtaxing the royal attention span — that of the consumer — is a mistake, so multifactor authentication (MFA) processes are morphing in various ways to reduce onboarding frictions while maintaining rigorous multifactor authentication (MFA) and other fraud-fighting tools. Phone Call For You. Taking Authentication To The Streets.

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Security Study Mobile Data 269