Fraud

$50,000 Lost to Bitcoin ATM Scam in Australia

Scammers conned $50,000 out of regular Australians using a blatantly obvious fake tax debt fraud. Multiple victims have been lured into paying off non-existent debt through Bitcoin ATMs. A Time-Tested Scam Scammers have managed to con upwards of $50,000 from Australian citizens, luring them in to pay off a non-existent debt in a classic fraud.

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Be a Hero in the Fight Against Payment Fraud

As a bank, you will run your own fraud detection solutions, but what happens when one of your corporate clients identifies and reports a fraud? Successful recovery will depend on the ability to locate, stop and recall payments in real time before they settle.

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BNZ Partners With IBM for Cross-channel Fraud Prevention

Bank of New Zealand says it is deploying IBM Safer Payments, a modern transaction monitoring system that allows banks to intercept fraudulent activity before it happens, while ensuring customers’ genuine transactions are not stopped in error.

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Big Banks See Uptick in Cyberattack Attempts

Sources have reported that some large U.S. banks have seen a boost in attempted cyberattacks in recent weeks.

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Visa as Gumshoe: How the Card Network Tracks Fraud to Its Source

There’s an adage in business and war that goes, The best defense is a good offense. This is the philosophy that Visa is deploying against online fraud. When an incident occurs, Visa, along with the affected merchants and banks, will examine how it happened, the extent of the damage and what can be learned from […]

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Digital Pay Fraud Wave Should Bring EMV Token Gateways to Cards on File

Card-on-file (the process of collecting and storing payment card credentials) is fundamental to the card-not-present (CNP) ecosystem, facilitating the delivery of popular payment methods such as one-click ordering and recurring payments.

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Data: Same-day ACH Volume vs. Fraud

Same-day ACH payments – introduced for credits in 2016 and debits last year – are gaining popularity with banks and corporations. The success prompted Nacha this week to approve new rules for these payments going into effect over the next two years.

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European Committee Green-lights Tougher Sentences for Digital Payments Fraud

Criminals cashing in on digital payment trends and the rise of cryptocurrencies can expect stiffer jail sentences under new rules approved by a powerful European Parliament committee.

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Cybercriminals Harass FIs 81M Times in 2018 So Far

A new report has revealed that financial institutions (FIs) were hit with 81 million cybercrime attacks in the first half of 2018, with 27 million of those breaches targeting the mobile channel.

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The Challenge of Speeding Up Payments While Slowing Down Fraud

An awful lot of dark money moves round the world each year – between 2 and 5 percent of global GDP by UN estimates.

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British Airways Breach Caused by Credit Card Skimming Malware, Researchers Say

A security firm says credit card skimming malware installed by hackers on British Airways’ website a few months ago was to blame for a data breach of over 380,000 credit cards. Payments through the airline’s website and mobile app were stolen over the three week period, but a key clue was that travel information wasn’t […]

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ASB, Westpac and BNZ to Trial New Technology to Tackle Errors and Scams

Three major banks are set to trial technology in a bid to crack down on errors and scams when transferring money.

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