PYMNTS

AUGUST 4, 2020

Financial institutions (FIs) plan to spend 15 percent more protecting their computer networks in 2020 than they spent in 2019, according to a report based on the results of a survey conducted by Deloitte & Touche LLP and the Financial Services Information Sharing and Analysis Center.

Survey 265

Survey Security Analysis America 265

PYMNTS

DECEMBER 29, 2020

With digital transactions and eCommerce soaring during the pandemic, the rate of increasingly sophisticated fraud has also risen. Unlike the crypto markets, Wingert said the banking and payments industries continue to be slow to adapt to the challenges of KYC and fraud prevention. In fact, a recent GeoGuard survey found that U.S.

Fraud 270

Fraud Compliance cryptocurrency Security 270

PYMNTS

JANUARY 13, 2021

The prevalence of online commerce opens new doors for digital fraud, however, both from career fraudsters and opportunistic customers. Phishing scams were on the rise all year, while a survey of online shoppers found that 40.3 Developments F rom The World Of Digital Fraud. Developments F rom The World Of Digital Fraud.

Fraud 189

Fraud Analytics Data Retail 189

PYMNTS

NOVEMBER 17, 2020

The number of real-time payments has risen dramatically in recent years, and APP fraud has grown alongside it. Bad actors typically perpetrate APP fraud in several ways. APP Fraud Ramps Up. Instances of APP fraud around the globe have continued to rise as real-time payment rails extend their reach.

Fraud 223

Fraud Payments Survey Security 223

FICO

FEBRUARY 16, 2022

FICO published our 2021 Digital Consumer Banking and Fraud Survey today that emphasizes consumer perspectives on customer experience and fraud prevention management. . Survey Findings: Digital Dominates, But Customer Experience Remains Important. consumers report fraud at a rate greater than the global average.

Survey 52

Survey Fraud US Customer Experience 52

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. In a survey of 1,000 U.K. 43 percent of employees admit to mistakes that have caused cybersecurity repercussions, a new study has found, according to OnRec reported.

Fraud 254

Fraud Survey Report Payments 254

FICO

FEBRUARY 16, 2022

FICO published our 2021 Digital Consumer Banking and Fraud Survey today that emphasizes consumer perspectives on customer experience and fraud prevention management. . Survey Findings: Digital Dominates, But Customer Experience Remains Important. consumers report fraud at a rate greater than the global average.

Survey 52

Survey Fraud US Customer Experience 52

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

Fraud 195

Fraud System Study Comparison 195

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.

Fraud 235

Fraud Digital Banking Missouri Trends 235

PYMNTS

FEBRUARY 24, 2020

According to the latest research from Bottomline Technologies, businesses said the fraud threat is on the rise. Meanwhile, Forbes reported separate analysis from North Carolina State University warning that as pressure mounts for chief financial officers to hit their financial targets, they’re less likely to report fraud.

Taxes 164

Taxes Fraud Puerto Rico North Carolina 164

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.

Fraud 255

Fraud Mobile Tools Study 255

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

FICO

DECEMBER 16, 2019

The Communications Fraud Control Association (CFCA) recently released the findings from its Global Telecom Fraud Survey. Fraud teams operate with lean structures. The majority are still using primarily rules-based fraud management systems, with just 6% using AI and machine learning. of respondents.

Survey 52

Survey Fraud Cyber Security Compliance 52

PYMNTS

APRIL 27, 2020

As the digital shift continues to keep pace with post-coronavirus shopping behaviors, eCommerce fraud is growing with it. In fact, 22 percent of respondents in a recent TransUnion survey claimed they had “been targeted by digital fraud related to COVID-19.” The company’s technology tracks user behavior to determine fraud.

Fraud 164

Fraud Company Security Comparison 164

FICO

APRIL 26, 2023

Home Blog FICO Survey: Do Customers Think Banks Are Fair to Scam Victims? According to the 2023 FICO Global Scams Survey , 51% of consumers worldwide believe their friends or family members have been victims of similar scams. More than 10% of these reports involved losses, which totaled A$96 million.

Survey 52

Survey Fraud Management Customer Experience 52

FICO

APRIL 20, 2023

According to FICO’s latest survey of consumers from 14 countries around the globe, 90% of all consumers have sent a real-time payment, and at least 95% of consumers have used real-time payments in India , Indonesia , the Philippines , and Brazil. Throughout the countries we surveyed, RTP usage shows no signs of slowing.

Survey 52

Survey Payments Fraud Management 52

PYMNTS

OCTOBER 19, 2020

The following Deep Dive explores cross-border payments’ challenges, including time-consuming government inspections, lack of transparency and the potential for fraud. Sixty-one percent of treasury professionals in a recent survey said that the time involved in finding out why payments failed had been a drain on company resources.

Technology 193

Technology Payments Security Survey 193

PYMNTS

FEBRUARY 18, 2020

This creates new security challenges as firms must learn to centrally manage their fraud protection methods while also gauging threats across many different channels. Fraud orchestration can help solve this issue as it allows banks to build holistic fraud prevention defense systems and gain 360-degree views of their customers.

Fraud 131

Fraud Customer Experience Compliance Survey 131

PYMNTS

NOVEMBER 19, 2020

The technology is also credited with helping them meet diners’ demands for seamless purchasing experiences as well as enabling them to battle fraud. . Smith also said he is confident that AI can assist restaurants as they wage a never-ending fight against fraud. We need to make sure that everything we are doing is secure.”.

Boston 200

Boston Fraud Meeting Mobile 200

ABA Community Banking

MARCH 29, 2021

When consumers shop for a new savings account, their top consideration is strong safety, security and fraud protection, with 61% of respondents saying it was the top factor, according to a new survey from financial technology company SaveBetter.

Survey 52

Survey Fraud Security Financial Technology 52

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’.

Fraud 144

Fraud Security Study Retail 144

PYMNTS

OCTOBER 19, 2018

Even the mightiest of tech firms are not immune to invoice fraud. Engadget reported that Jeff Tran, Microsoft ’s former director of sports marketing and alliances, was charged with five counts of wire fraud. Wire fraud has a sentence of up to 20 years’ imprisonment. Fraud On The Rise. Payments Fraud No Cakewalk.

Fraud 152

Fraud blockchain Cards Payments 152

FICO

NOVEMBER 16, 2022

Enterprise Fraud Solution Buyers Want More Agility, More Data. Our recent global survey reveals the investment priorities and functionality requirements for enterprise-level fraud solution buyers. In August 2022, we commissioned a survey of 156 global executives and managers from retail banks and retail financial institutions.

Fraud 52

Fraud Data Survey Regional 52

PYMNTS

DECEMBER 20, 2019

More than one-third of Americans surveyed report being victims of cybercrime in 2019, and 41 percent of those incidents involved the theft of credit or debit card information. Fraud prevention tech has to scale. Clean’ and ‘Friendly’ Fraud are Neither. That’s “clean” fraud. vs. the FinTechs.

Fraud 137

Fraud Fintech Training Cards 137

PYMNTS

APRIL 21, 2017

Financial security software firm NICE Actimize is launching a new solution to combat financial fraud using cloud technology. The company is deploying machine learning technology to identify threats and automatically email managers to ensure financial service providers are protected and made aware of any instances of fraud.

Fraud 109

Fraud Payments Analytics Survey 109

FICO

JANUARY 22, 2020

There has been a proliferation of real-time payments fraud, as new near-instant payment platforms, including person-to-person (P2P) transfers and mobile payment platforms grow across Asia Pacific. . We recently conducted a survey with banks in the region and found that 4 out of 5 (78 percent) have seen their fraud losses increase.

Survey 52

Survey Fraud Payments Regional 52

PYMNTS

OCTOBER 21, 2019

Corporate fraud comes in many colors, but for many businesses, the most unexpected threat is the one looming from within company walls. This week, IBM announced a collaboration with Raw Seafoods to develop a blockchain solution to address supply chain fraud in the seafood industry, including cases of incomplete documentation and mislabeling.

Fraud 111

Fraud blockchain Ohio Survey 111

PYMNTS

JUNE 13, 2019

Countering digital fraud is a lot like playing whack-a-mole: As soon as one fraudster is taken out, two more pop up where they’re least expected. The popularity of digital banking services has created ample opportunities for bad actors, leaving banks scrambling to protect themselves against the rising tide of fraud.

Fraud 128

Fraud Analytics New Jersey Data 128

PYMNTS

APRIL 2, 2020

New Hampshire FinTech Bottomline Technologies has launched a free initiative to help the nation’s banks provide relief to small businesses hurt by the COVID-19 pandemic. For banks that offer SBA loans under the program, Bottomline is offering a technology tool tailored to the agency’s application requirements at no cost. “We

New Hampshire 232

New Hampshire Georgia Fraud Survey 232

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. A PYMNTS study on U.S.

Fraud 148

Fraud Strategy Study Cards 148

PYMNTS

JANUARY 18, 2021

One recent survey reported that more than 37 percent of companies that have hired staff members during the health crisis have experienced new struggles related to remote onboarding and training, and about one-third said hiring in a virtual environment has been a major issue. . ID Verification In The Remote Age .

Fraud 281

Fraud Survey Training Resources 281

PYMNTS

DECEMBER 30, 2016

Half of companies surveyed, however, are depending on outdated technologies and solutions to stay secure. But, Vigue added, 2017 will be a year of continued innovation in the technology that can prevent, detect and mitigate a corporate cyberattack. What technologies are emerging to combat threats in B2B payments? “As

Fraud 145

Fraud Security Survey Technology 145

PYMNTS

APRIL 16, 2020

Not only do industry giants have innate name recognition, but they also have colossal advertising budgets and access to cutting-edge mobile ordering technology and features that small operations cannot match. Bad actors are taking advantage of the chaos and bringing about an upswing in digital fraud. Fighting Fraud.

Fraud 130

Fraud Chicago Resources Mobile 130

PYMNTS

FEBRUARY 9, 2018

Telematics company Airmax says fleet card fraud will be “a thing of the past” thanks to technology. 8), Airmax released the results of a 2017 survey that highlighted the potential for fleet managers to save through miles per gallon (mpg) monitoring. In an announcement on Thursday (Feb.

Fraud 100

Fraud Cards Survey Management 100

PYMNTS

DECEMBER 21, 2018

The findings came from a survey of 2,000 individuals between 2013 to 2018. AppZen said there is no finding that certain verticals are more or less prone to expense fraud. In one case, a company gave the thumbs up to an $8,000 designer watch, chalked up to “customer appreciation.” Well, that did not pass the smell test and got denied.

Fraud 152

Fraud Policies Survey Report 152

FICO

SEPTEMBER 8, 2022

Payments Fraud in Asia Post Pandemic. Why consumers are moving to banks with the best fraud and scam prevention. Senior Consultant, Fraud and Financial Crime. The growth of real-time payments and fraud in Asia. The appeal of these banking innovations has also made it a honeypot for fraud. Saxon Shirley.

Fraud 52

Fraud Payments Survey Security 52

PYMNTS

NOVEMBER 9, 2017

According to Kyriba and researchers at CFO Research , who surveyed 167 financial executives at companies with up to $5 billion in annual revenue, there is a clear winner in terms of what the board of directors is most concerned about in terms of CFO responsibilities: fraud. ” Their concerns aren’t baseless, either. .

Risk Management 107

Risk Management Fraud Management Survey 107