Fraud

Cyber Criminals Targeting Holiday Spirit With New Gift Card Scam

Quick. You just got an urgent email from the president of your company asking you to purchase gift cards for everyone in the office. You need to respond quickly for further instructions and keep it quiet because it’s a surprise.

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UK’s Financial Conduct Authority Introduces New Rules on Handling Complaints About Authorised Push Payment Fraud

The Financial Conduct Authority (FCA) has today published new rules allowing victims of Authorised Push Payment (APP) fraud to complain to the payment services provider (PSP) receiving their payment.

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How AML Regulations Turn Credit Unions Into Law Enforcement

Communication and engagement with members is an essential part of any credit unions’ (CUs’) retention strategy. Recently, though, many CUs have turned to technology-driven solutions to help members more efficiently communicate their needs and feedback. However, their members are not the only ones with whom credit unions must regularly work.

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The Rise of Fraud 3.0, and Businesses’ Response

Computing power is dirt cheap, thanks to cloud infrastructure.

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Data: The Newest Holiday Fraud Threats

The first wave of data from this year’s holiday shopping season is in, providing insights into where the biggest fraud threats are likely to originate in the final weeks of the year.

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Death, Taxes and Faster Payment Fraud

As faster payments and real-time payments emerge in the U.S. financial services market, the vulnerabilities that can lead to fraud are also emerging as widely predicted.

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NGO Says Regulators Can’t Stop High-tech Fraudsters by Themselves

At some point in time, it (became) generally regarded that regulators are behind the financial innovation developments, Teng said. They have been since catching up with this problem.

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Banking on Blockchain: How the Technology Will Help Curb Fraud

Blockchain’s decentralized technology can enable banks and financial institutions to be more effective in the areas of fraud management and money laundering. Smart contracts hosted on blockchain result in smarter amendments in trade finance at reduced cost. Banks should overhaul legacy systems to adopt or integrate blockchain technology to reap its disruptive benefits.

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Major Retailers Brace for Gift Card Fraud

To counter fraud as the holiday season approaches, Best Buy, Target and Walmart made changes to their gift card programs. The moves were announced by the attorneys general of Pennsylvania and New York, Reuters reported. They also come amid an initiative to take on fraudsters that has run for a year.

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Payment Processing Security: Reducing Fraud for Merchants and Customers

Payment fraud is bad for everyone. For cardholders, payment fraud is an inconvenience and unnecessary expense; it means they must cancel their cards, acquire new ones and sometimes spend hours arguing about certain charges with their card companies.

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PODCAST: Consumers Lack Awareness of How Much Personally Identifiable Information Is Exposed

Recently, First Data produced a cybersecurity study that took a look at personally identifiable information. Can you give us a brief overview of this study or survey and what was its main focus? EJ Jackson – Head of Security and Fraud Solutions at First Data

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EMV Cards Fail to Allay US Retailers’ Fraud Fear

Despite switching to EMV cards three years ago, for large US retailers payment card fraud is still a top concern. Now, fraudsters have moved their activities online, a new study by the National Retail Federation (NRF) and Forrester has found. The EMV cards were meant to significantly decrease fraud.

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