PYMNTS

APRIL 10, 2020

This brings a longstanding challenge to the fore: Healthcare organizations have long struggled with fraud, waste and abuse (FWA), costing the United States healthcare sector more than $200 billion annually by some estimates. Moreover, the benefit cited by the greatest proportion of healthcare firms (65.6

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Fraud Payments System United States 362

Bank Innovation

MAY 16, 2019

According to a study from IDology, an identity verification and fraud prevention company, 61% of Americans used a smartphone to enroll in some sort of an account this year, while 56% used a computer or laptop. The study also found a 19% jump […].

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PYMNTS

JANUARY 3, 2019

A new study has revealed that retailers will lose around $130 billion in digital CNP (Card-not-Present) fraud between 2018 and 2023. A layered FDP (Fraud Detection & Prevention) solution naturally helps directly preventing fraud, but it also offers major gains in terms of recovering potentially lost revenue through false positives.

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PYMNTS

NOVEMBER 13, 2020

The telecommunications industry is but one of many sectors looking to more securely verify customers and avoid fraud, which remains a growing problem. Robust digital ID verification practices could make many fraud schemes a thing of the past, but many banks and businesses have yet to adopt them. More than 6.2 More than 6.2

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The Paypers

JANUARY 23, 2024

A new study conducted by Trustpair has mentioned that payment fraud attempts on US businesses grew by 71% in 2023.

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PYMNTS

NOVEMBER 25, 2020

And in another recent study, J.P. Morgan Chase found that 81 percent of business owners reported experiencing payments fraud in 2019. With the rapid shift to digital, financial institutions (FIs) expect to spend 15 percent more in 2020 to protect their networks, according to a previous Deloitte & Touche survey.

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PYMNTS

DECEMBER 29, 2020

A recent study even estimates that shoppers could ultimately shift $100 billion worth of annual spending from credit cards to debit cards. 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.

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Abrigo

NOVEMBER 7, 2022

Elder fraud prevention and education Learn strategies for recognizing and reporting elder fraud and exploitation. . Takeaway 1 Elder abuse, exploitation, and fraud are rising in the veteran population and can devastate older Americans. A growing target for elder fraud and exploitation. According to the U.S.

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PYMNTS

JANUARY 26, 2021

These struggles are leading many to examine cutting-edge tools that can help them better protect these transactions from fraud,” according to PYMNTS January 2021 Real-Time Payments Tracker® done in collaboration with The Clearing House. It’s worth noting that most fraud involves debits, not credits.)”.

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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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Bank Innovation

APRIL 5, 2017

More than 15 million people were affected by identity fraud in the U.S. last year, according to a recent study by Javelin Strategy & Research. The identity fraud incidence rate increased by 16%, a record high since the company began tracking identity fraud in 2003.

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Fraud Study Strategy Company 284

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.

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Fraud social media Mobile Trends 310

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.

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Fraud Cards Software Trends 195

Abrigo

DECEMBER 10, 2019

ABA study shows banks are reporting more cases of EFE. Elder financial exploitation and elder fraud are rising at an alarming rate as they continue to be serious crimes in the United States. What the ABA study determined is that financial institutions of all sizes continue to focus on elder fraud prevention. We can help.

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PYMNTS

SEPTEMBER 22, 2020

One recent study estimated that roughly 44 million Americans would tap food delivery apps by the end of this year, up from 38 million in 2019, and another survey predicted that the number of smartphone delivery app users will climb 25.2 It also analyzes how focusing on the customer experience can help prevent such fraud in the first place.

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Fraud Mobile Tools Study 255

ATM Marketplace

AUGUST 26, 2022

That is the question SEON attempted to answer with its Global Banking Fraud Index study How do banks combat fraudulent activity?

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Fraud Study 141

PYMNTS

MARCH 8, 2019

Invoice fraud, where emailed requests trick employees of various firms into sending money to scammers’ bank accounts, has been making the rounds in the United Kingdom. firms are vulnerable to that type of fraud. According to research from Santander Business , as much as half of all U.K. Department of Justice.

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Bank Innovation

MARCH 9, 2018

EXCLUSIVE—The growth of synthetic fraud, or the method by which fraudsters use a combination of real and false details to open malicious accounts, is slowing as lenders, issuers, and consumers all grow more attentive to cybersecurity methods, a study conducted by credit bureau TransUnion found.

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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.

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PYMNTS

MARCH 27, 2020

The financial industry is particularly vulnerable to digital fraud. Application fraud, which sees cybercriminals submitting financial product applications to banks with no intention of paying them back, is among the most popular techniques. Defining Application Fraud.

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Fraud Technology Knowledge Base Study 208

PYMNTS

FEBRUARY 27, 2020

Fraud continues to increase in many areas, despite extensive attempts to bring it to heel. Retail fraud attempts have doubled year over year, for example, while account takeover (ATO) fraud losses recently hit $14.7 billion , and phishing attacks now comprise 30 percent of all fraud attempts. billion to $7.2 million USD).

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Fraud Examples Online Data 150

PYMNTS

JULY 14, 2020

Americans add $74 billion in avoidable costs to regular bills, the bill-paying service Doxo concluded in a new study published on Tuesday (July 14). Per household, the average total of what Doxo calls “hidden” costs comes to $557, the survey of 1,100 households found.

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PYMNTS

JANUARY 19, 2021

Studies showed that many consumers in the United States have begun tapping their debit cards more often for payments, for example, with one report finding that debit use rose about 6 percent year over year. Another study found that 55 percent of U.S. Another study indicated that debit-related fraud is on the rise across the U.S.

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PYMNTS

JANUARY 25, 2021

This increased digital engagement can create challenges, however, as it opens up new avenues for fraud in addition to making transactions more convenient for customers. A Lloyds Bank study found that this type of fraud has increased fivefold over the past year, accounting for up to 1 percent of all loan applications.

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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. .

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Fraud Report Analysis Study 190

PYMNTS

JANUARY 13, 2021

The prevalence of online commerce opens new doors for digital fraud, however, both from career fraudsters and opportunistic customers. Developments F rom The World Of Digital Fraud. Developments F rom The World Of Digital Fraud. For more on these and other digital fraud news items, download this month’s Tracker.

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Fraud Analytics Data Retail 189

PYMNTS

JUNE 4, 2019

In the old days, forged checks were the biggest problems that bank fraud departments had to manage. It is no wonder that fraud prevention is one of the problem areas that FIs hope artificial intelligence (AI) can help resolve. Yet, few FIs leverage this technology in their anti-fraud efforts — only 5.5 The study found that 63.6

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Fraud System Study Comparison 195

PYMNTS

JANUARY 21, 2021

Merchants, card issuers and banks are no strangers to facing off against evolving fraud threats. Debit-related fraud is a particular concern for businesses and banks as failing to thwart such schemes could have significant and costly consequences. Debit And The Fraud Catch . A PYMNTS study on U.S.

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Fraud Strategy Study Cards 148

PYMNTS

JULY 27, 2020

This week’s Data Digest looks at the latest in B2B payments fraud and the invoice’s role in supplier payment redirect scams, credential theft and more. 43 percent of employees admit to mistakes that have caused cybersecurity repercussions, a new study has found, according to OnRec reported. In a survey of 1,000 U.K.

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Fraud Survey Report Payments 254

PYMNTS

OCTOBER 1, 2020

Kount , the Boise, Idaho-based Software as a Service (SaaS) platform designed to simplify fraud detection and improve profitability, announced it has partnered with Verifi , the payment protection and management company. In June, Visa signed an acquisition agreement with Verifi.

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PYMNTS

OCTOBER 25, 2017

According to data from the October 2017 Global Fraud Index , a PYMNTS and Signifyd collaboration, account takeover use recently skyrocketed, climbing 45 percent in Q2 2017 alone. billion to the popular fraud technique in only a few months, and that may only be the beginning. percent: increase in total fraud from Q2 2016 to Q2 2017.

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PYMNTS

OCTOBER 17, 2018

According to data from the Federal Reserve Payments study, it found the value of noncash fraud jumped 37 percent to $8.3 The Federal Reserve said in a press release that the fraud data was collected as part of surveys of depository institutions in 2012 and 2015 and payment card networks in 2015 and 2016. billion in 2015 from $6.1

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Fraud Payments Cards United States 184

PYMNTS

SEPTEMBER 30, 2019

A recent study about how people respond to scammers shows that consumers are more likely to become victims on social media and online marketplaces than over the phone, The Wall Street Journal reported on Sunday (Sept. Researchers found that the majority of consumers fell prey to scammers on legitimate websites and social media. .

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The Paypers

FEBRUARY 17, 2022

LexisNexis Risk Solutions has released its latest SMB Lending Fraud Study, which reveals that this type of fraud increased 6.9% in the US since 2020.

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PYMNTS

JANUARY 18, 2021

People in general are more aware of — and concerned about — fraud as we pass through a second season of COVID, and eCommerce continues to rack up impressive stats, good and bad. Businesses Taking Action As Consumers Fret Over Fraud. New Threats Evolving ‘All The Time’.

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Chris Skinner

JUNE 28, 2020

Interestingly, there have been many auditing mess ups in the past … The post Wirecard … the biggest accounting fraud? Some of us are old enough to remember Arthur Anderson and Enron, a mixture of two companies that created an accounting mess bigger than any seen before in corporate history. Is the customers money safe?

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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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