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Identity Theft

CFPB Reports Consumers Complain About Disputed Credit Card Charges

PYMNTS

MARCH 29, 2017

The CFPB said it started collecting complaints about credit cards in July of 2011, and as of March 1 of 2017, the CFPB has handled around 116,200 credit card complaints , with a major issue with consumers being fraudulent charges. Other credit card complaints included victims reporting being victims of identity theft.

CFPB

CFPB Credit Cards Disputes Consumer

Trulioo Taps Into Mastercard’s Identity Solutions

Finovate

JUNE 4, 2024

. “Trulioo is proud to partner with Mastercard and shares their dedication to industry-leading business verification and fraud prevention,” said Trulioo CEO Steve Munford. “As organizations navigate the complexities of the digital payments industry, fraud and business identity theft are constant threats.

Identity Theft

Identity Theft Visa Verification Fraud Prevention

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The Finance Weekly

DataVisor and Mitek Team Up to Help Financial Institutions Fight Check Fraud

Finovate

APRIL 11, 2024

Mitek has been a Finovate alum since winning Best of Show at its Finovate debut at FinovateSpring in 2011. AI-powered fraud and risk platform DataVisor has teamed up with identity verification innovator Mitek. DataVisor made its Finovate debut last year at FinovateFall in New York.

Checks

Checks Remote Deposit Capture Counterfeit Check Identity Theft

Application Fraud: How Do Synthetic Identities Get Created?

FICO

DECEMBER 3, 2018

In a fascinating case study, Detective Gossman shares how he has seen a collusive merchant actually back-date credit histories, a process that was discovered during a case where the credit history of the synthetic Social Security Number went back to 2000, but the format of the SSN made clear it could not have been until after 2011.

Identity Theft

Identity Theft Best Practices Fraud Detection Social Security

Why US Credit Card Fraud Complaints Are On The Rise

PYMNTS

JULY 27, 2016

Florida saw its complaint numbers increase by a staggering 130 percent since 2011. Data from the Identity Theft Resource Center (ITRC), found that the frequency of data breaches, which subsequently compromised payment card information, spiked in 2009 and hit a low in 2012.

Credit Cards

Credit Cards Federal Trade Commission Data Breach Identity Theft

PCI Validated P2PE – 3 Years in North America, What Has Changed?

PYMNTS

MARCH 6, 2017

In 2016, there were 1,093 data breaches according to the Identity Theft Resource Center – a 40% increase over the 2015 data breach number of 781. The Introduction of PCI-Validated P2PE in 2011. Specifically the webinar will explore: The State of Payment Security. Malware and its Role in Data Breaches.

Data Breach

Data Breach Third Party Vendors Encryption Breach

Bitcoin Daily: German Crypto Firm Shuttered After Pyramid Scheme Accusations; People’s Bank Of China Denies Bogus Announcement Of Stablecoin Launch

PYMNTS

NOVEMBER 15, 2019

Founded in 2011 by Harald Seiz, the firm offered online purchases of “cryptonyzed gold” tokens, offering customers a commission to sign up other “affiliates.” German cryptocurrency company Karatbars has been ordered to stop doing business after being accused of running a pyramid scheme.

Stablecoins

Stablecoins Identity Theft Digital Currency Central Bank

3 Ways Fintechs are Helping Financial Institutions Fight Fraud

Finovate

AUGUST 14, 2024

With their ability to apply fraud detection strategies to key vulnerabilities such as origination and account management, insights from behavioral analytics can help mitigate fraud in real time and defend users against a range of malevolent actions including identity theft, account takeover, bot attacks, and fraud rings.

Credential

Credential FinTech Deepfake Fraud Detection

Know Your Customer (KYC): What It Is and How to Comply

Stax

NOVEMBER 27, 2023

TL;DR Know Your Customer, or KYC, is the process of ensuring that companies can verify their (current or potential) customers’ identities and their financial profiles. Know Your Customer, or KYC, is the process of ensuring that companies can verify their (current or potential) customers’ identities and their financial profiles.

Due Diligence

Due Diligence Money Laundering AML Financial Crimes

Fraud’s $50B Identity Crisis

PYMNTS

FEBRUARY 6, 2017

Yet, this is a growing form of fraud that is impacting many industries, and the prevalence of synthetic fraud has risen every year since 2011. The lack of an injured consumer makes synthetic fraud more difficult to confirm. The Federal Trade Commission estimates that synthetic fraud costs U.S. businesses $50 billion per year.

Federal Trade Commission

Federal Trade Commission Scams Credit Cards Fraud Prevention

Preventing payment fraud and shadow spending

Nanonets

MAY 31, 2023

billion in 2011 to $32.39 million individuals in the United States fell victim to identity theft in 2021. Payment fraud has tripled from $9.84 billion in 2020 globally. It is projected to continue increasing, reaching an estimated cost of $40.62 billion in 2027, marking a 25% rise compared to 2020.

Fraud Detection

Fraud Detection Payments Audit Fraud Prevention

Understanding Basics of Digital Personal Data Protection (DPDP)

VISTA InfoSec

SEPTEMBER 15, 2023

This Act, which supersedes Section 43A of the IT Act, 2000 and the SPDI Rules, 2011, brings about considerable changes to the norms of data protection. Conclusion: The DPDP Act is a necessary response to the increasing threat of cyber-crimes and identity thefts.

Data Breach

Data Breach Breach Governance Government

How to Protect Your Children from Identity Fraud

FICO

AUGUST 12, 2019

As I’ve blogged about previously, synthetic identity fraud is rampant , and fraudsters are growing ever-more sophisticated. Industry estimates attribute around 80% of credit card fraud losses to synthetic identity fraud and child identity theft. (On Child identity fraud is a combination of both, as described below.).

Identity Theft

Identity Theft Federal Trade Commission Credit Cards Social Security

CFPB Reports Consumers Complain About Disputed Credit Card Charges

Trulioo Taps Into Mastercard’s Identity Solutions

Trending Sources

DataVisor and Mitek Team Up to Help Financial Institutions Fight Check Fraud

Application Fraud: How Do Synthetic Identities Get Created?

Why US Credit Card Fraud Complaints Are On The Rise

PCI Validated P2PE – 3 Years in North America, What Has Changed?

Bitcoin Daily: German Crypto Firm Shuttered After Pyramid Scheme Accusations; People’s Bank Of China Denies Bogus Announcement Of Stablecoin Launch

3 Ways Fintechs are Helping Financial Institutions Fight Fraud

Know Your Customer (KYC): What It Is and How to Comply

Fraud’s $50B Identity Crisis

Preventing payment fraud and shadow spending

Understanding Basics of Digital Personal Data Protection (DPDP)

How to Protect Your Children from Identity Fraud

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