PYMNTS

JUNE 3, 2020

Real-time payments, he said, “increase the attack surface” for fraudsters and are attractive for two reasons: speed and the fact that the payments are irrevocable. Authorized fraud also encompasses business email compromise (BEC) scams, too, said Tharle.

Business Email Compromise 71

Business Email Compromise Email Compromise Real Time Payments Authentication 71

PYMNTS

OCTOBER 21, 2020

This means that even one compromised account could threaten all others that rely on the same credentials, potentially costing victims a fortune in stolen money and data.”. This immediacy means that, once initiated, the payments are virtually irrevocable. percent of attacks that utilize stolen credentials.”.

P2P 56

P2P Security MFA Financial Crimes 56

FICO

APRIL 29, 2022

Increasingly, the scams involve cryptocurrencies; The New York Times also recently investigating crypto romance scams in which victims are lured into paying criminals with fraudulent, and irrevocable, transfers into digital wallets. ACH volumes in the United States increased 8.7% in 2021, with P2P transactions up nearly 25%, to 271.2

Retail Payments 52

Retail Payments Zelle Romance Scams Consumer 52

PYMNTS

MARCH 7, 2016

Consumers aren’t bothered all that much about having their card credentials compromised. But, consumers have been trained that they’re not responsible at all when a bad guy compromises their card information. Instantly, and irrevocably. They know they won’t be – and even if they are, they’re totally off the hook.

Online and Mobile Banking 46

Online and Mobile Banking Payments Same Day ACH Financial Inclusion 46