PYMNTS

OCTOBER 25, 2016

Software created by the two companies will allow businesses and their banks to transfer cash using Visa’s technology, rather than using other methods, such as a check or wire transfer. To download the October edition of the PYMNTS X-Border Payments Optimization Tracker™, click the button below. About The Tracker.

Cross-Border Payments

PYMNTS

OCTOBER 11, 2018

Cotter added that the solution stems from an internal program developed at American Express in 2016, where the company deployed a similar service to its own vendors. Payments can be made via wire transfer or ACH.

Wire Transfer

PYMNTS

JUNE 15, 2016

The FBI is warning about the increasing risk of wire transfer fraud. As part of its newly launched public awareness campaign on wire transfer fraud, the FBI provided tips to help companies detect and fight the threats. Billion | The total amount lost to wire-transfer fraud between October 2013 and February of this year.

FBI

PYMNTS

APRIL 10, 2019

SWIFT has upwards of 11,000 global members, and created a set of measures for protection after a swath of electronic heists in 2016, many of which targeted the central bank of Bangladesh. SWIFT has also provided banks with technology to notice abnormalities in wire transfers.

SWIFT

PYMNTS

JULY 25, 2018

While the continued strength of BEC scammers may not come as a surprise, the research finds that the scam no longer only reigns in targets with a request for wire transfer. While 54 percent of those scams involved wire transfers, more than a third targeted check payments.

Scams

PYMNTS

OCTOBER 6, 2016

11-15 Days | The wait time for employees and contractor paid via wire transfers, according to the PYMNTS Faster Payments Tracker. 110 Million | The estimated number of pieces of wearable tech forecasted to be in the market by the end of 2016. Billion | How much Bass Pro Shops will pay to acquire rival Cabela’s. . . $1

Wire Transfer

PYMNTS

SEPTEMBER 18, 2017

According to a report in the Wall Street Journal , Webb’s job will be taken over by Mark Rohrwasser, who has headed up Equifax’s international IT operations since 2016. Mauldin is being replaced by Russ Ayres on an interim basis. Ayres reports to the CIO, according to the report. There’s also a risk of medical fraud, noted the report.

Breach

PYMNTS

OCTOBER 11, 2016

Among companies in North America, wire transfers are a more common method of facilitating payments, while bank transfers tend to be more popular in other parts of the world. Please click here to view the full report “State Of International Payments Report — 2016.”.

Cross-Border Payments

PYMNTS

MARCH 2, 2018

Overall, the FTC is seeing that consumers are losing more money due to fraud in 2017 than 2016. When it comes to payments, fraud reports show that wire transfers were the most common way victims sent money to scammers. In all, 70 percent of consumers say that fraudsters reached out to them by phone.

Scams

CB Insights

MARCH 4, 2021

Google continues to enter insurance: Google has been an active participant in the insurance industry for years, initially focused on being a disruptor with its Google Compare product, which was ultimately sunsetted in 2016. More recently it has acted more as an investor, distributor, and tech provider for the industry.

Cybersecurity

PYMNTS

DECEMBER 30, 2016

Bank heists and data breaches saw no shortage in 2016, and corporates large and small could no longer avoid the risk of a cyberattack. The movement to attack small to medium-sized businesses will continue to increase in 2017, with about half of small businesses experiencing a security incident in 2016. Simply put: Crooks love checks.

Checks

PYMNTS

MAY 4, 2016

That can mean fraudulent payments made using a business credit card, a compromise of payroll systems or unauthorized ACH and wire transfers. billion in losses last year, according to JAVELIN’s 2016 Small Business Fraud Report: Small Businesses are Big Targets for Fraudsters. The report was released on Tuesday (May 3).

Security

PYMNTS

JUNE 14, 2018

million, in 2016 alone. with more than 16,800 victims recorded in 2016. Business identities can be used to open card accounts, initiate wire transfers or commit tax fraud. According to the IRS, there were 4,000 recorded instances of business identity theft cases in 2016. That figure rose to 10,000 last year.

Identity Theft

PYMNTS

DECEMBER 12, 2017

Paper checks for domestic suppliers, wire transfers for international ones. The Association for Financial Professionals (AFP) released its 2016 Electronic Payments Survey earlier this year and found that use of paper checks in B2B payments actually rose 1 percent compared to 2013 levels.

Accounts

PYMNTS

FEBRUARY 19, 2019

18), Patriot Software said it is rolling out Patriot Direct Deposit, a way to streamline employee onboarding to direct deposit via standard four-day ACH or bank wire transfers. In an announcement on Monday (Feb. “The entire onboarding process is completed within our web-based software application, and is entirely paperless.

Direct Deposit

PYMNTS

MARCH 8, 2019

In Australia, for instance, mobile banking app users in 2018 checked their apps nearly 10 times per week, fueled by an embedded culture of peer-to-peer transfers within banking apps, the report said. “By

FinTech

PYMNTS

DECEMBER 18, 2017

Reports said Adindu was arrested in 2016 and allegedly carried out business email compromise scams between 2014 and 2016. Targets reportedly included a New York investment company that, according to court documents, received two requests for wire transfers totaling more than $100,000.

Scams

FICO

AUGUST 26, 2021

It’s a question FICO’s fraud head honcho, TJ Horan, pondered back in 2016 , when the nascent real-time person-to-person (P2P) payments service Zelle was relaunched by a small consortium of banks (see below). “Do you Zelle?” My point is that checking accounts are now a mini clearing house for all manner of inflows and outflows.

Real Time Payments

PYMNTS

FEBRUARY 7, 2018

Choi pleaded guilty to one count of wire fraud , admitting that he never attended business school, was never employed by a financial institution at any point in time and exaggerated his wealth.

Wire

PYMNTS

JULY 20, 2016

The email requests a wire transfer for goods or services, with a convincing enough note to not raise suspicion, and then, payment is made. Businesses across 100 countries have been affected; reports of the scam in 2016 are already up by 270 percent. billion from unsuspecting companies.

FBI

PYMNTS

MAY 9, 2016

The firm published its 2016 Small Business Fraud Report , emphasizing the risks that small businesses face in back-office fraud. billion in losses due to crimes like unauthorized payments, fraudulent wire transfers or misuse of company credit cards. Dive into the data below to make up your own mind. .

Small Business

PYMNTS

OCTOBER 13, 2017

Between April 2016 and March 2017, the NAR reported that overseas buyers spent $153 billion on U.S. real estate during the NAR’s April 2016 to March 2017 report timespan. Some buyers arrange wire transfers with overseas financial institutions to complete the purchase through third-party title companies, he explained.

Cross-Border

Green.Money

AUGUST 16, 2019

Wire transfers are costly, and in many cases, take a trip to the bank. Bitcoin can be transferred from any device, to and from anywhere in the world, 24-hours a day, 7-days a week. It happened in 2012-2013 and again in 2016-2017. In some industries, credit cards have a national chargeback average of 8%.

Bitcoin

PYMNTS

SEPTEMBER 12, 2019

The AFP surveyed 379 corporate treasury professionals and found that 68 percent are using wire transfers to move money across borders, for example, a finding that researchers said highlights “the challenge in making changes to payments processes even if current systems are inefficient and costly.”.

AFP

PYMNTS

JANUARY 9, 2019

The Federal Bureau of Investigation (FBI) has now pegged total losses to BEC scams at $12 billion across 150 countries, marking a 136 percent rise in BEC cases between December 2016 and May 2018. “Wire transfer fraud is of particular concern for corporate treasury,” the company wrote. The tactic is relatively simple.

Faster Payments

PYMNTS

MARCH 5, 2019

The company published a report in 2016 into the sector’s digitization journey, finding that efforts to address a “cost crisis” have had far-reaching, long-lasting effects on the oil and gas industry’s technology adoption habits that are likely to last well into the future.

Wire Transfer

PYMNTS

AUGUST 12, 2016

While the focus of the 2016 Olympic Games is on the athletes and their remarkable feats, there is also a monumental yet under-the-radar task currently underway that involves auctioning off and processing global buyers’ payments for hundreds of thousands of items from Olympic villages and venues in Rio. Payment, down to the wire.

Cross-Border

PYMNTS

JANUARY 2, 2017

With the increasing trade volume between the two countries, payments have become a major pain point for retailers that often rely on wire transfers, which can take up to three days to complete. The year 2016 brought with it a wave of innovation that disrupted cross-border payments. In 2015 alone, the U.S. The result?

Cross-Border Payments

PYMNTS

JANUARY 16, 2020

According to the FBI, more than $26 billion in losses linked to BEC were reported between July 2016 and September 2019. Unfortunately, Sadler noted, it often doesn’t matter whether a fraudster is requesting a wire transfer or wire card payment. “It It really comes down to where you’re directing that payment,” he said. “A

Business Email Compromise

PYMNTS

JANUARY 16, 2018

News & World Report , international students represented 33 percent of the school’s overall student body during the 2016-2017 academic year , the highest rate of international students at any U.S. It’s a situation with which Terri Carter, director of Student Financial Services at Florida Institute of Technology , is familiar. university.

Payments

Fintech News

MARCH 6, 2024

Suning Bank received its banking license from the China Banking Regulatory Commission (CBRC) in December 2016, and commenced operations in June 2017 with registered capital of 4 billion yuan. which operates the popular messaging app KakaoTalk, and was established in 2016, receiving its banking license in April 2017.

Online and Mobile Banking

Fintech Labs Insights

SEPTEMBER 21, 2016

Prosper Marketplace reports its 2016 portfolio is on pace for its highest estimated return since 2013. TIO Networks makes Canada’s 2016 PROFIT 500 list with five-year revenue growth of 125%. Guardian Analytics partners with The Pathfinder Group to streamline realtime wire fraud prevention for wire transfer system customers.

Wire Transfer

Clearly Payments

MARCH 4, 2024

With harvested data, perpetrators conducted unauthorized transactions, including wire transfers and credit card purchases, exploiting compromised accounts for financial gain. The operation also involved money laundering tactics to obscure the origins of stolen funds. Wirecard AG’s collapse and ensuing insolvency.

Phishing

PYMNTS

MAY 12, 2017

The cross-border B2B payments market, on the other hand, is fraught with friction, despite being much larger in size — accounting for nearly 80 percent of global cross-border payment revenue, according to a 2016 report by McKinsey & Company.

B2B

PYMNTS

APRIL 14, 2017

To get to the bottom of this troubling data, AFP Manager, Treasury & Payments Magnus Carlsson discussed the findings with PYMNTS.

AFP

Fintech Labs Insights

SEPTEMBER 23, 2016

Jim Huff, SVP of Marketing whose El Paso, Texas-based FirstLight FCU is piloting the new mobile app, highlighted the features that will be available to its businesses, including fund transfer, wire transfer approval, and account notifications. ” Pictured (left to right): Shuki Licht (Sr.

Credit Union

PYMNTS

JANUARY 4, 2018

In 2016, the value of smartphone payments in China hit $5.5 Consumers can also use that app to initiate wire transfers through MoneyGram, check gift card balances, apply coupons and have all receipts sent automatically to its Savings Catcher function. Mobile adoption in the U.S. according to IR Search.

Push-to-Card