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. The blogs your FinCrime peers are reading.

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Chris Skinner

JUNE 28, 2020

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. Interestingly, there have been many auditing mess ups in the past … The post Wirecard … the biggest accounting fraud? Is the customers money safe?

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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

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Payments Dive

JUNE 22, 2023

Servicemember complaints about digital payment apps surged last year, according to a CFPB report, which also highlighted military families’ susceptibility to payments fraud.

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PYMNTS

DECEMBER 29, 2020

PYMNTS reported this month that corporate fraud schemes have been ubiquitous as of late. percent more financial crimes in areas where corporate accounting fraud has been reported. There was also a connection made between corporate fraud and local financial crimes like robberies. There are also 2.3

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PYMNTS

APRIL 6, 2020

Add to that $2 trillion in stimulus funds about to flow forward from federal coffers in a variety of forms, and one has a recipe for a fraud outbreak the likes of which the world has never seen. Flattening the Fraud Curve. This is a once-in-a-lifetime target-rich environment for fraudsters,” said U.S. Stopping the Fake Phone Calls.

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Abrigo

AUGUST 22, 2022

Emerging Check Fraud Trends to be Aware of It seems check fraud will never go away, it just changes its approach every opportunity. Takeaway 3 Watch out for business email compromise and the use of checks. Check Fraud. Still the number one type of fraud in banking. Find out what the latest iteration looks like.

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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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PYMNTS

JULY 30, 2020

With so much highbrow industry chatter about topics like payments fraud detection, it’s good to remember that this is actual crime-fighting. Traditional fraud-fighting approaches often fail against scammers who use synthetic IDs to trick financial institutions (FIs) into letting them open new accounts. Check it out.

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PYMNTS

SEPTEMBER 3, 2020

The pandemic has pushed us to do all things digitally while opening up new vectors of attack. 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. . .

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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

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. "You Barrenechea in a statement.

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PYMNTS

JULY 25, 2019

Customers have varying banking needs, but the global fraud phenomenon tends to have equal impacts. Challengers see fraud protection as especially important, particularly as they attempt to ween customers away from legacy FIs and their own nimbler FinTech competitors. Bringing a global fraud approach to a new local market.

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The Paypers

APRIL 11, 2024

US-based fraud prevention company NICE Actimize has announced a new Integrated Fraud Management platform that delivers pervasive AI across fraud prevention.

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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. Back then, Edwards noted that mobile check fraud was escalating so much that some banks were shutting off the feature entirely.

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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. . US customers and their banks are familiar with different types of fraud including card, identity, and payment related frauds.

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PYMNTS

JUNE 23, 2020

Federal Reserve has introduced a new effort to combat payments fraud. ” “Supporting real-time payments through the RTP network is an important step for us,” he continued. Federal Reserve Tackles Fraud Across Rails. In the U.S., And when it comes to legacy rails, the U.S. RTP Gains Community Bank Traction.

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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. . US customers and their banks are familiar with different types of fraud including card, identity, and payment related frauds.

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The Paypers

MAY 15, 2023

Global information services company Experian has announced the launch of a fintech-focused version of its fraud prevention data network Hunter to the US to fight fraud.

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Abrigo

AUGUST 19, 2020

Key Takeaways COVID-19-related fraud are not new typologies; they just have a new spin. Adjusting your velocity scenarios can help detect money mule scams and check fraud. . COVID-19-related fraud schemes are escalating at an alarming rate. How can your transaction monitoring system detect trending COVID-19 related fraud?

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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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The Paypers

FEBRUARY 27, 2024

US-based fraud and risk management company DataVisor has announced the launch of a new solution developed to efficiently detect fraud and financial crimes.

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The Paypers

MARCH 28, 2024

US-based fraud detection provider Sift has released its Q1 2024 Digital Trust & Safety Index, which reveals that Gen Z is the closest generation to fraud.

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Payments Source

JUNE 30, 2020

Tia Ilori, Senior Director of global fraud and breach investigations at Visa, joins us to talk with Michael Moeser, PaymentsSource's senior analyst, about the new attacks and fraud trends that have emerged since the start of the pandemic.

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PYMNTS

DECEMBER 30, 2020

Connecticut-based People’s United Bank has seen this trend in action in recent months, said Karen Boyer , the financial institution's vice president of financial crimes and fraud intelligence. This online commerce shift has brought with it an increased risk of fraud, however. Debit Fraud Threats In The Time Of eCommerce.

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PYMNTS

SEPTEMBER 21, 2020

Consumers are using mobile apps’ order-ahead features and loyalty perks more often during the COVID-19 pandemic, yet chargeback fraud — also known as friendly fraud — is unfortunately also rising. A Proactive Approach To Friendly Fraud. Friendly fraud often develops around online promotions at restaurants.

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The Paypers

APRIL 19, 2023

ACI Worldwide has announced that its fraud protection services are available as part of ACI’s Real-Time Payment Cloud for US customers preparing for the launch of FedNow.

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PYMNTS

AUGUST 19, 2019

As reported earlier this week, a new strain of ransomware has been hitting US firms and firms based overseas. We are seeing gangs involved in drug trafficking and firearms offenses turning to fraud, targeting victims across the U.K. Fraud that was in turn prevented by the unit amounted to as much as $8.2 Corporate Wire Fraud.

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PYMNTS

DECEMBER 5, 2019

The duo allegedly — and with the help of more than a dozen others — worked to deploy malware known as Dridex (aka Cridex and Bugat) and for committing wire and bank fraud. The malware was used to lift banking credentials, financial data and personal information from victims, and for deploying ransomware.

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PYMNTS

DECEMBER 21, 2018

Before the liability shift in 2015, the industry-wide prediction was that the onset of EMV would reduce occurrences of counterfeit card fraud in-store, but that the industry should expect to see a spike in card-not-present (CNP) fraud as fraudsters moved to easier targets. The Consumer As A Frontline Against Fraud.

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PYMNTS

MAY 12, 2019

That was 70 percent of all the fraud in 2018, reported Reuters, citing CipherTrace. In recent weeks the price of bitcoin has been increasing. Reuters noted that losses from the theft of cryptocurrency have increased to $1.2 billion in the first quarter of this year alone.

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The Paypers

FEBRUARY 22, 2024

Sumsub has announced the launch of its Non-Doc Verification solution in the US, aiming to reduce fraud and improve the customer onboarding experience.

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The Paypers

OCTOBER 23, 2023

US-based company Jumio has announced the launch of its new AI-driven fraud prevention technology, in order to identify fraud patterns more accurately.

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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. . I believe AI is the future of the restaurant sector, and it will help [us] run smoother, sell more and be more profitable.”. AI is a priority with us,” Smith said. “We

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PYMNTS

JANUARY 10, 2017

It’s early in 2017, but fraud looms like Nosferatu chancing upon the sleeping maiden. 86.1%: Percentage of online merchants who expect to see the same or more fraud and abuse attempts in 2017. . But of course, the large preponderance of fraud points to real concern. An intelligent system can scale and keep up with fraud.

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FICO

FEBRUARY 16, 2023

While this alone should give pause, when combined with the fact that there were an average of 185 cards compromised per skimming event, banks and consumer should all be wary when using any ATM, point of sale terminal, or other location where a card skimmer could be potentially located.

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ATM Marketplace

SEPTEMBER 1, 2020

Greg Mahnken is a Credit Industry Analyst for Credit Card Insider and covers important topics such as fraud, security and responsible card use. With the rise in credit card fraud increasing, ATM Marketplace asked Greg to share with us how to combat it and how to protect customers.

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