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Bank wire fraud – How social engineering and technology perpetrate fraud losses

Abrigo

Takeaway 3 Education and technology tools are our best defense against b ank wire transfer fraud in our institutions. Reports from variou s government and news sources i ndicate the existence of organized groups, often in other countries, exploiting individuals, including victims of human trafficking, to defraud U.S.

Fraud 195
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Amazon Delves Into Fashion With AI-Powered Search Tool

PYMNTS

The Amazon Re:MARS conference in Las Vegas has been churning out technology news for the company. Now, according to reports , Amazon’s Consumer Worldwide CEO Jeff Wilke has announced a new AI-powered fashion search tool called StyleSnap, designed to help customers find clothes to buy. This is not the first service of its kind.

Tools 145
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Facebook Funds $100M In Grants For SMBs Affected By Coronavirus

PYMNTS

Businesses can access tips on communicating with customers during the pandemic, a resilience toolkit and a “quick action guide.”. The Facebook Journalism Project is also offering $1 million in grants to news organizations covering COVID-19 in the U.S. Whatever happens next, we will be working to help businesses weather this storm.

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Even Bad Tippers Might Pay More With Better Tech

PYMNTS

The rise of digital payments and the gig economy cannot guarantee that consumers will tip. But new technology is sure making tipping easier — both for consumer and workers — even if human nature is, well, human nature. On average, a driver will get a tip of 50 cents a trip, but regular tippers give $3 on average.

Study 101
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Taboola CEO: Why Android News Will Unlock New Content/Commerce Models

PYMNTS

Unfortunately, despite hundreds of channels offering him content – not to mention an internet that would connect him directly to any news source in the world – he couldn’t find anything he wanted, due to the wonders of analysis paralysis. Building Android News. I was really enjoying it, because I had nothing to do.”.

Analysis 148
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Synchrony Amazon.com Store Card Holders Can Now Check Balances Via Voice

PYMNTS

Synchrony , the financial services company, announced news on Wednesday (May 2) that customers can now use voice commands to manage their Amazon.com Store Card. In a press release , Synchrony said it is making this happen via a new skill for Alexa, dubbed the Store Card skill.

Cards 134
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Why Fighting Fraud Means Looking Beyond The Transaction

PYMNTS

But the bad news is that fraudsters see a once-in-a-lifetime opportunity to jump into the increased flow of transactions, Gary Sevounts , executive at fraud detection firm Kount , told PYMNTS in a recent conversation. In fact, such losses are often just the tip of the iceberg for merchants. Fraud Prevention as an End-To-End Journey.

Fraud 280