FICO

FEBRUARY 16, 2023

Total compromise cards were up 368% from 2021, with more than 161,000 impacted cards identified — nearly a 5x increase over 2021. Her roles have included developing a consumer authentication solution for Experian and managing credit and identity theft management applications. Debbie holds a B.A.

Compromise

VISTA InfoSec

JULY 5, 2023

With the proliferation of people paying hospital bills and health insurance using credit and debit cards, the risk of identity theft has also augmented exponentially! From March 2021 to March 2022, the average cost of a data breach in healthcare was over $10 million, up from $9.23 million between May 2020 and March 2021.

PCI DSS

Finovate

OCTOBER 24, 2024

Effectiv, which demoed at FinovateFall 2023, was founded in 2021 to provide an open platform that integrates a wide range of risk solutions– including identity and payment fraud controls, underwriting, Know Your Business (KYB) and anti-money laundering (AML) tools– to facilitate decisions in real-time.

Risk

Fintech News

JUNE 6, 2024

From December 2021 to January 2022, close to 800 individuals fell victim to an SMS phishing scam where fraudsters impersonated OCBC. These technologies provide financial organisations with a secure and reliable way to verify the identity of their customers, reducing the risk of identity theft and account takeovers.

Scams

Fintech News

JANUARY 17, 2024

The battle against fraud and identity theft has taken on new dimensions and complexities in today’s increasingly digital world. This article will delve into the key trends shaping the fraud and identity landscape 2024, drawing insights from various sources, including SumSub, LexisNexis Risk Solution, Feedzai and Jumio.

Deepfake

FICO

MAY 28, 2021

At the beginning of the year, we commissioned a survey of 1,000 adults in each of fourteen countries to canvas them about their attitudes to opening a range of different financial accounts digitally using websites and apps. There were some very interesting findings and some results that challenged my pre-conceptions and received wisdom!

Consumer

Fintech News

MAY 22, 2024

of respondents lost money to scams or identity theft in the past year, resulting in an estimated US$1 trillion in financial losses. Transparently.AI (Singapore) Founded in 2021 and based in Singapore, Transparently.AI The study, which surveyed nearly 50,000 people from 43 countries, found that 25.5%

Financial Crimes

The Fintech Times

OCTOBER 5, 2024

In 2021, the FCA investigated Starling and identified serious concerns with its anti-money laundering and sanctions framework. Between September 2021 and November 2023, Starling opened over 54,000 accounts for 49,000 high-risk customers, despite agreeing to demands of the FCA. million in 2023. ” Is this enough of a punishment?

Financial Crimes

FICO

MAY 27, 2022

During 2021, we saw the optimization of the customer experience top the agenda within organizations. Identity theft is one of the key drivers for the soaring levels of application fraud. In Europe specifically, organizations have seen a significant rise in identity theft over the past year. billion USD.

Identity Theft

Fintech News

FEBRUARY 27, 2024

The Securities Commission (SC) of Malaysia granted approvals for several firsts in the country’s digital asset landscape: a new digital asset exchange – the first since 2021 , the inaugural digital-asset focused fund manager , and the first set of digital asset custodians.

APACS

PYMNTS

OCTOBER 9, 2020

billion consumers will be shopping primarily through digital channels by 2021 — representing a $6.5 Payment trends are expected to continue to tilt toward eCommerce through the remainder of 2020 as well, with some experts predicting that more than 2.1 trillion opportunity for eCommerce retailers.

Automation

Clearly Payments

MARCH 22, 2024

In 2021, digital wallets accounted for approximately half of all global e-commerce transactions, a trend that is expected to continue in the years to come. This growth is fueled by the increasing adoption of digital wallets like Apple Pay, Google Pay, and Samsung Pay, which are becoming integral to e-commerce and in-store purchases.

Contactless Payments

The Payments Association

NOVEMBER 18, 2024

Fraud attacks targeting youth, including online scams, phishing attempts, fake scholarships, identity theft, and money muling, often take advantage of their inexperience and lack of knowledge.

Financial Literacy

FICO

OCTOBER 7, 2022

As it happens, buy now, pay later (BNPL) breached the $100 billion in mark in 2020 and soared to $157 billion in 2021 , according to FICO partner Worldpay. In December 2021, the U.S. Meanwhile, the BNPL industry’s charge-off rate, or the rate of uncollectible loans, was 2.39% in 2021 — up from 1.83% in 2020. So is regulation.

BNPL

PYMNTS

FEBRUARY 21, 2020

More than $1 trillion is expected to be spent on cybersecurity solutions worldwide between 2017 and 2021 as companies address the need for protections and make major investments in digital fraud-fighting techniques. They must do so judicially or risk wasting those investments, however. Detecting Fraudsters.

B2B

FICO

DECEMBER 5, 2022

A report released by the FTC in February 2022 indicates a 71% increase in fraud in 2021, which cost consumers roughly $5.8 million identity theft reports filed in 2021, many of which relate back to banks and lenders. These statistics are based on roughly 2.8 million consumer fraud and 1.4

Online and Mobile Banking

National Merchants Association

AUGUST 5, 2022

According to the Federal Trade Commission (FTC), credit card fraud is the second-most prevalent type of identity theft. The FTC received more than 88,000 credit card fraud reports in 2021. It also received about 69,750 payment app or service fraud reports.

Credit Cards

Stax

NOVEMBER 27, 2023

in 2021, according to the Federal Reserve. You’d also likely have to undergo enhanced due diligence (EDD), which is used for customers with a higher risk of identity theft, money laundering, or other illegal activities. That’s the amount of non-cash payments made in the U.S.

Due Diligence

National Merchants Association

AUGUST 5, 2022

According to the Federal Trade Commission (FTC), credit card fraud is the second-most prevalent type of identity theft. The FTC received more than 88,000 credit card fraud reports in 2021. It also received about 69,750 payment app or service fraud reports.

Transactions

National Merchants Association

AUGUST 5, 2022

According to the Federal Trade Commission (FTC), credit card fraud is the second-most prevalent type of identity theft. The FTC received more than 88,000 credit card fraud reports in 2021. It also received about 69,750 payment app or service fraud reports.

Transactions

National Merchants Association

AUGUST 5, 2022

According to the Federal Trade Commission (FTC), credit card fraud is the second-most prevalent type of identity theft. The FTC received more than 88,000 credit card fraud reports in 2021. It also received about 69,750 payment app or service fraud reports.

Credit Cards

FICO

JULY 6, 2023

billion in estimated authorized user/scam losses in the US in 2022, £485 million lost in the UK in 2022, 125 million scam victims in Brazil in 2021 (a shocking 59% of the population). Her roles have included developing a consumer authentication solution for Experian and managing credit and identity theft management applications.

Demand Deposit Account (DDA)

FICO

NOVEMBER 30, 2022

Her roles have included developing a consumer authentication solution for Experian and managing credit and identity theft management applications. European Card Fraud in 2021: Winners, Losers and Scams. Debbie holds a B.A. from UCLA and an MBA from the Merage School of Business at University of California, Irvine.

Scams

FICO

SEPTEMBER 8, 2022

Thu, 06/17/2021 - 06:40. Asian consumers are also becoming more aware of the efforts banks are making to protect them against crimes such as identity theft, account takeover and card fraud. Payments Fraud in Asia Post Pandemic. Why consumers are moving to banks with the best fraud and scam prevention. Saxon Shirley.

Posting

FICO

MAY 19, 2021

As pressure on the bottom line persists in 2021, it pays to put more focus on first-party fraud and take decisive action now. Traditional third-party fraud entails some form of impersonation or stolen identity, whether through stolen card credentials or someone taking over your identity. How to Get Ahead of First-Party Fraud.

Cross-Border

Core

FEBRUARY 6, 2024

Government fraud in payments can involve several practices, including: Altered documentation Embezzlement False billing Forgery Identity theft Kickbacks Unauthorized use of government accounts Unsubstantiated reimbursement Essentially, government fraud in payments encompasses any practice aimed at diverting public funds for unauthorized purposes.

Best Practices

FICO

APRIL 20, 2023

billion in scams in 2022, a 30% increase over 2021. Her roles have included developing a consumer authentication solution for Experian and managing credit and identity theft management applications. environment is not faring any better; according to the US Federal Trade Commission (FTC) , US consumers lost at least $8.8

Real Time Payments

FICO

MAY 19, 2021

As pressure on the bottom line persists in 2021, it pays to put more focus on first-party fraud and take decisive action now. Traditional third-party fraud entails some form of impersonation, whether through stolen card credentials or someone taking over your identity. Why First-Party Fraud Can Be Easily Missed.

Cross-Border

National Merchants Association

AUGUST 5, 2022

According to the Federal Trade Commission (FTC), credit card fraud is the second-most prevalent type of identity theft. The FTC received more than 88,000 credit card fraud reports in 2021. It also received about 69,750 payment app or service fraud reports.

Credit Cards

Nanonets

MAY 31, 2023

million individuals in the United States fell victim to identity theft in 2021. In 2021, a staggering 323,972 internet users worldwide became victims of phishing attacks, indicating that half of the cybercrime victims fell prey to this method. According to the Federal Trade Commission, USA, over 1.4

Fraud Detection

FICO

JANUARY 13, 2020

It is possible this could push the publishing of a final rule into 2021. Identity proofing and authentication will be an emerging focus area in 2020. It is likely that the review period coupled with ongoing negotiations between the FDIC, OCC and the Federal Reserve will delay the issuance of a final rule.

Authentication

Seon

JUNE 15, 2023

Accordingly, BEC is not just limited to account takeovers and identity theft, but can also be a means for fraudsters to become imposters looking to subject the target company to further data breaches. Fraudsters may do this by impersonating the organization’s CEO (check out the CEO fraud section below to learn more about this).

Email Compromise

The Fintech Times

JANUARY 20, 2024

In 2021, non-fungible tokens (NFTs) took off in popularity seemingly overnight. In Q4 2021, there were nearly two million active NFT wallets , but by Q3 2023, this number had dropped to 227,000. “Banks should already be upgrading cryptography to post-quantum standards, even if quantum computers aren’t yet a reality.

AI

PYMNTS

AUGUST 20, 2020

The number of scams and fraud attempts on online channels has grown during the crisis, with fraudsters trying everything from identity theft to faking insurance paperwork to trumping up false products proclaiming to cure or ease the symptoms of the COVID-19 virus — and online merchants are stuck bearing the cost.

Online and Mobile Banking

Fintech News

APRIL 9, 2025

This shift is largely driven by Fraud-as-a-Service (FaaS) technological platforms and widely available fraud tools, which provide a range of services to facilitate cybercrime, including identity theft, account takeovers, and financial fraud.

APACS

The Fintech Times

MAY 14, 2025

Card identity theft losses have increased by 200 per cent since 2021, while human trafficking alone has become a nearly 400billion industry. As the world leans deeper into card-based transactions, financial crime is no longer just easier to commit – it’s also becoming more sophisticated, scalable, and dangerous.

Financial Crimes