PYMNTS

SEPTEMBER 23, 2016

According to NCR , with Business Banking Mobile, business owners will be able to securely access key financial tools on-the-go, including multi-TIN transaction history and transfers, approval workflows for wire and ACH templates and payments, token support, mobile notifications and end-user management.

Credit Union 70

Credit Union Community Banks Wire Transfer Wire 70

PYMNTS

SEPTEMBER 11, 2019

“Business email compromise involves a criminal impersonating a senior executive or trusted business partner, reaching out to a member of their staff, and convincing that person to wire money to an account to pay a debt or fulfill a purchase order.”. Fraud Trends. billion in 2018. billion in 2018. It’s gone,” the report stated.

Scams 65

Scams Email Compromise Compromise Wire 65

PYMNTS

JUNE 25, 2020

million such attacks aimed at APIs between December 2017 and November 2019. Fraudsters have deployed a wide variety of methods when conducting these attacks, with 64 percent of banks seeing an increase in wire fraud transfers and 82 percent reporting increased instances of social engineering attacks.

Financial Crimes 91

Financial Crimes MFA Federal Trade Commission Crime 91

PYMNTS

APRIL 26, 2019

As reported in Threatpost , losses from such schemes nearly doubled from $675 million in 2017 to as much as $1.2 The numbers come from the FBI’s annual Internet Crime Report , which detailed that the use of social engineering, emails and other methods to get victims to wire money to fraudsters was a lucrative business. billion in 2018.

Business Email Compromise 57

Business Email Compromise FBI Scams Wire 57

PYMNTS

JANUARY 15, 2018

145 billion: the value of cross-border B2B payments as of December 2017. million: the value of investments for B2B eCommerce companies in 2017 , a seven-year high, according to reports. billion in 2017, with NACHA highlighting the potential for this tool in the areas of B2B payments, payroll and more.

API 77

API B2B Same Day ACH Payment APIs and Integration 77

Fintech Finance

SEPTEMBER 5, 2024

Its modern finance and spend management software solution is focused on the 100 – 5,000 employee segment of the market, with more than 500 clients with an average of over 200 employees.

Agreements 96

Agreements Acquirers Payroll Wire Transfer 96

Fintech News

NOVEMBER 20, 2024

A focus on Southeast Asia Founded in 2017 and headquartered in Shanghai, XTransfer is a business-to-business (B2B) cross-border payment specialist. The next layer will be major markets such as Brazil, Mexico where we will be submitting license applications.”

Cross-Border Payments 131

Cross-Border Payments Cross-Border B2B Due Diligence 131

PYMNTS

JANUARY 2, 2020

percent from 2017 to 2025, according to a report by MarketWatch. GE is releasing the new C by GE Three-Wire Smart Switch, along with two hubless dimmers. The Smart Switches don’t need a neutral wire to work, and they are smaller than previous models. The Wire-Free Dimmer attaches to a wall using an adhesive attachment.

Wire 52

Wire Wires Product Technology 52

PYMNTS

APRIL 29, 2019

It would instead have to turn to expensive wire transfers, credit cards — which can take days to settle — or account-to-account transfers, which also can take several days to process and incur fees if passed through intermediary banks. A London-based manufacturer can’t rely on the U.K.’s and Australia’s NPP. Mixed Demand and ISO 20022.

Interoperability 77

Interoperability ISO 20022 Instant Payments Cross-Border 77

PYMNTS

JULY 16, 2020

On another note, a 20-something individual has been charged with wire fraud for allegedly bilking investors out of over $4.5 During a period that spanned from 2017 to this year, the individual allegedly had investors move $3.5 million in cryptocurrency, CoinDesk reported. million in ether, about $1.1 dollars.

Central Bank 59

Central Bank CBDC Credit Risk Bitcoin 59

PYMNTS

MARCH 2, 2018

Overall, the FTC is seeing that consumers are losing more money due to fraud in 2017 than 2016. While we received fewer overall complaints in 2017, consumers reported losing more money to fraud than they did the year before,” Tom Pahl, the acting director of the FTC’s Bureau of Consumer Protection, said in the press release.

Scams 55

Scams Identity Theft FTC Federal Trade Commission 55

PYMNTS

DECEMBER 1, 2020

The high price point beat its previous record high, set in 2017, CNBC reported. 18, and faces “one count of conspiracy to commit wire fraud, one count of conspiracy to commit bank fraud, and one count of conspiracy to commit money laundering,” the release stated. Bitcoin saw a new all-time record high on Monday (Nov. Eastern Time.

Bitcoin 80

Bitcoin Money Laundering NOV Cryptocurrency 80

PYMNTS

MARCH 12, 2020

The men were said to have impersonated Jean-Yves Le Drian, France’s defense minister from 2012 to 2017, mostly by phone — but in some instances, they staged a fake office and used a silicone mask for video calls. They were asked to wire the money to accounts outside the country.

Wire Transfer 56

Wire Transfer Wire Wires Governance 56

FICO

AUGUST 26, 2021

By 2020, TJ was teaching his parents how to Zelle , an adoption curve reflected in an astonishing growth statistic: 13% of consumers used Zelle in 2020 , up from a mere 1% in 2017. . In 2017 a study by Visa and Accenture sized the North American opportunity for real-time payments at $18.5T in addressable payment volume.

Real Time Payments 52

Real Time Payments Zelle Federal Reserve Wire Transfer 52

PYMNTS

NOVEMBER 20, 2018

Based on the indictment, the Justice Department contends that between 2008 and 2017 Gorrin was behind more than $150 million in bribes to officials in Venezuela’s treasury to gain the right to take part in currency deals. The majority of the money was wired from Swiss bank accounts to Florida, noted the report.

Law Enforcement 64

Law Enforcement Laws Wire Wires 64

PYMNTS

DECEMBER 30, 2016

But, Vigue added, 2017 will be a year of continued innovation in the technology that can prevent, detect and mitigate a corporate cyberattack. What cybersecurity threats will impact corporate buyers and suppliers in 2017? The environment has truly evolved into an equal opportunity hunting expedition for fraudsters.”.

Checks 58

Checks Email Compromise Security Compromise 58

PYMNTS

AUGUST 15, 2019

Geek Wire reported that the announcement came on the same day the eCommerce giant launched its fourth 4-star store in Seattle. So we see a lot of value in that as well,” said Amazon Chief Finacial Officer Brian Olsavsky back in 2017. The first location opened in New York City last September.

Wire 61

Wire Wires Product Accounts 61

PYMNTS

APRIL 30, 2018

According to the report, 29 percent that have experienced a system-level wire fraud attack have suffered a loss as a result. Fraudsters can automate the process by which they infiltrate email accounts and learn to speak like a CEO or CFO to initiate a fraudulent wire transfer, a scam known as the business email compromise (BEC).

Email Compromise 59

Email Compromise Ransomware Treasury Wire 59

Finovate

APRIL 17, 2024

The new accounts, dubbed Mercury Personal, will offer advanced banking tools such as free wire transfers, multiple debit cards with account-level controls, and will pay 5% APY on savings accounts at launch. Mercury was founded in 2017 and has since been entirely focused on serving small businesses and investors.

Wire Transfer 52

Wire Transfer FDIC Wire Wires 52

PYMNTS

SEPTEMBER 2, 2020

million of funds from a “wire fraud scheme” involving a so-called digital currency called OneCoin from 2015 to 2018, according to the letter. The funding comes on the heels of a $33 million raise during the company’s token sale in 2017. Scott, according to a letter posted by CoinDesk. However, the company said it turned down $14.34

Money Laundering 60

Money Laundering Bitcoin Wire Wires 60

PYMNTS

AUGUST 6, 2018

In 2017, the top 10 spenders on out-of-home advertising — a category that includes not only traditional billboards, but bus wraps, digital displays, cinema ads and other marketing messages seen outside consumers’ homes — were: McDonald’s , Apple , GEICO , American Express , Google , Amazon , Coca-Cola , HBO , Verizon and Chevrolet.

Privacy 62

Privacy Wire Wires CHIPS 62

PYMNTS

MARCH 8, 2019

Ignatov is from Bulgaria and was charged with wire fraud conspiracy. His older sister Ignatova, also from Bulgaria, was charged with wire fraud, and also securities fraud and conspiracy. She disappeared in October of 2017 and is still at large. He was arrested on Wednesday (March 6) at LAX.

Wire 49

Wire Wires Multi-Currency Cryptocurrency 49

PYMNTS

MAY 29, 2020

And in 2018, just after bitcoin’s price seemingly peaked at the end of 2017 at just under $20,000, the famed investment firm said bitcoin could indeed be used as a form of currency. customers, and reportedly will process wire transfers, deposits and withdrawals from the Automated Clearing House (ACH) network.

Bitcoin 74

Bitcoin Wire Transfer ACH Network Money Laundering 74

PYMNTS

FEBRUARY 5, 2019

Department of Justice (DOJ) recently introduced a new interpretation of the Federal Wire Act, enacted in 1961. That new interpretation “now makes the Wire Act applicable to any form of gambling that crosses state lines, including online gambling and online lottery,” according to one account. billion, double the amount spent in 2011.

Legal 49

Legal Wire Wires Rules 49

PYMNTS

DECEMBER 20, 2019

In 2017, Rimasauskas was arrested in Lithuania and extradited to the U.S. He pleaded guilty, stating that, in addition to the phishing scam, he forged invoices and other documents, which he submitted to banks to support the wire transfers, according to prosecutors. His accomplices have not been identified as of Thursday.

Law Enforcement 53

Law Enforcement Phishing Wire Transfer Scams 53

PYMNTS

JANUARY 20, 2017

According to reports, Alexa cost Amazon $330 million in 2016 alone — and the experts are forecasting that figure will increase to $600 million in 2017. Like the Echo, the Siri speaking would have the capacity to look up information and wire into various smart home designs using voice recognition.

Wire 49

Wire Wires Product Technology 49

PYMNTS

APRIL 14, 2017

In the Association for Financial Professionals ‘ 2017 Payments Fraud Survey, the organization saw a significant rise in the amount of B2B payment fraud occurrences. Here are the numbers: 75 percent | Percentage of companies experiencing wire fraud in 2016. 51 percent | Decline in the use of physical checks in B2B transactions.

B2B 40

B2B Business Email Compromise Email Compromise Scams 40

PYMNTS

OCTOBER 15, 2018

It’s a twist on the business email compromise (BEC) scam that typically involves scammers emailing business owners and seeking payment via wire transfer, ACH or paper check. “No legitimate business or utility will call you and ask you to make a payment using a Green Dot card,” AG Frosh said in a statement.

Ransomware 77

Ransomware Online and Mobile Banking Small Business Scams 77

PYMNTS

JULY 16, 2019

The bank filed a suit against the company on July 9, claiming that Interlogic “fraudulently initiated wire transfers” and that Interlogic CEO Najeeb Khan knew there weren’t sufficient funds to cover the transfers. The customer involved in the fraud is Interlogic Outsourcing, which processes payrolls and is based in Elkhart, Indiana.

Payroll 57

Payroll Law Enforcement Wire Transfer Laws 57

PYMNTS

FEBRUARY 6, 2019

There are also fees linked to paying card bills via wire transfer, and fees if the fleet cards go unused. “This is a business model intended to deceive,” said Andrew Left, founder of Citron Research, in an interview with Bloomberg in 2017. 10-per-gallon or $2-per-transaction fee noted as an account administration charge.

Payroll 66

Payroll Commercial Card Federal Trade Commission Wire Transfer 66

PYMNTS

SEPTEMBER 30, 2019

The operation also reportedly led to the recovery of about $118 million in fraudulent wire transfers linked to BEC scams. billion in losses have been reported related to BEC scams , the FBI noted, pointing to data from the Internet Crime Complaint Center, adding that nearly twice as many BEC-related complaints were filed in 2018 than in 2017.

Email Compromise 56

Email Compromise FBI Compromise Business Email Compromise 56

FICO

DECEMBER 4, 2017

As the proud winner of my local fantasy league’s 2016 trophy (pictured above), I’m keenly focused on gearing up for my 2017 playoff run. Reflecting back on our 2017 draft party in August, I remember “The Commissioner” collecting participants’ money — specifically, cold hard cash.

Mobile Payments 64

Mobile Payments Zelle Online and Mobile Banking ATM 64

PYMNTS

SEPTEMBER 17, 2019

In 2017, GM started shipping vehicles with Android Automotive OS, starting with integration in the Cadillac CTS and then expanding to other cars. One of the latest examples of that comes from General Motors, which plans to add Google apps capability to its cars in 2021, according to a report. As for what Alexa can do in a car?

Correspondent 68

Correspondent Wire Wires Adjustments 68

PYMNTS

JULY 31, 2019

The new service offers recommendations for clothes as well as accessories that personal shoppers curate, Geek Wire reported. Department of Commerce indicates that Americans spent more than $450 billion on eCommerce shopping in 2017. To provide consumers with fashion advice, Amazon has debuted Personal Shopper by Prime Wardrobe.

Wire 52

Wire Wires Credit Cards Consumer 52

PYMNTS

JANUARY 15, 2019

Department of Justice charged Artem Radchenko, a Ukrainian resident accused of recruiting the traders, with computer fraud, wire fraud and other crimes. Back in September of 2017, the SEC revealed the EDGAR database was hacked, saying that hackers broke in during August to make illegal trades off the information they gleaned.

Database 43

Database Wire Wires Cybersecurity 43

PYMNTS

FEBRUARY 24, 2017

Cisco’s 2017 Annual Cybersecurity Report (ACR) report revealed companies that suffer a data breach are expected to have customer, opportunity and revenue losses exceeding 20 percent. As more connected devices become available, the threat of RoT has the potential to become a pervasive and disruptive phenomenon, Wired reported.

Data Breach 68

Data Breach Breach Cybersecurity Laws 68

PYMNTS

FEBRUARY 20, 2020

Steve Chen, the mastermind behind a $147 million gemcoin fraud from 2013 to 2015, pleaded guilty of his crimes of tax evasion and conspiracy to commit wire fraud, reported on Wednesday (Feb. The 62-year-old California resident will face a minimum of a decade in prison, according to the Department of Justice.

Bitcoin 52

Bitcoin Law Enforcement Crime Cryptocurrency 52