PYMNTS

NOVEMBER 21, 2019

Secure Payments is able to automate the verification process for supplier account details, which is often compromised in B2B payments fraud tactics like the Business Email Compromise, in which a fraudster poses as a legitimate supplier and requests account detail changes to receive payments from their target.

B2B

PYMNTS

OCTOBER 10, 2018

One of the biggest problems with wire, particularly in the B2B payments space, is its target for fraud, and the Federal Bureau of Investigations (FBI) says instances of business wire fraud, commonly referred to as the business email compromise, are climbing. Thieves attempted to steal $5.3

Wire Transfer

Finovate

OCTOBER 10, 2024

APP fraud occurs when a person is tricked into sending money to a fraudster who is posing as a legitimate payee. The new procedures come as new laws designed to stop Authorized Push Payment (APP) fraud in the U.K. came online this week. ” ANNA made its Finovate debut at FinovateEurope 2020 in Berlin.

Authentication

PYMNTS

JUNE 25, 2018

It’s much more straightforward for a criminal to compromise someone’s payment account that could be linked to a credit card than for them to try to steal or gain access to use that credit card,” Endler said, adding that the tools that make these attacks possible are “accessible to people who don’t necessarily have a lot of technical acumen.”. “The

Account Takeovers

FICO

DECEMBER 13, 2022

For an FI that’s adding 2 million digital customers per year, a 30% quit rate can translate into hundreds of thousands of customer engagement and revenue growth opportunities lost to anti-fraud processes that compromise customer experience. Customers Prefer Biometric Security.

Security

PYMNTS

JULY 25, 2018

If the Business Email Compromise (BEC) scam isn’t on the radar of every corporate finance executive, it certainly should be. “We discovered counterfeit checks and ACH debit fraud on an account that did not have Positive Payee feature or ACH debit block because of the urgency to open account,” one survey respondent recalled.

Scams

Nanonets

APRIL 1, 2024

Proper management involves regular reconciliation , communication with payees, and adherence to best practices to mitigate risks. Failure to conduct regular reconciliations may lead to overlooking crucial information, leaving discrepancies unresolved and compromising the financial integrity of the company or individual.

Reconciliation

PYMNTS

JUNE 22, 2018

It’s much more straightforward for a criminal to compromise someone’s payment account that could be linked to a credit card than for them to try to steal or gain access to use that credit card,” Endler said, adding that the tools that make these attacks possible are “accessible to people who don’t necessarily have a lot of technical acumen.” .

Account Takeovers

FICO

MARCH 30, 2020

Compromise could be by malware, theft or other techniques. The data defining the transaction represents separate risks - for example, the risk that the customer is paying a fraudster, not their intended payee. Over a dialogue with a customer, online, or in person, it’s possible that step-ups in authentication may be required.

Authentication

Core

SEPTEMBER 15, 2023

Reduced Wait Times Traditional in-person payment methods are often conducted in overcrowded government offices, which can overburden staff and frustrate payees. This reduces the need to conform to government office hours while enhancing the overall experience with around-the-clock self-service access.

Governance

FICO

NOVEMBER 30, 2022

By convincing individuals to send money through apps like Venmo, CashApp, Zelle and others, or adding a payee for traditional ACH transactions, fraudsters are perpetuating what is known in the financial industry as Authorized Push Payment (APP) fraud (in the UK) or authorized user fraud (in the US).

Scams

PYMNTS

DECEMBER 12, 2017

When it comes to wire transfers, meanwhile, separate analysis from the AFP found that 74 percent of companies surveyed said they were hit with a business email compromise scam in 2016, which typically involves scammers requesting payment via wire transfer for a fraudulent invoice.

Accounts

PYMNTS

JANUARY 30, 2020

” He highlighted common scams, including CEO fraud and invoice fraud, often carried out via the Business Email Compromise (BEC) — in which a scammer imitates a legitimate company executive or trusted supplier to initiate a B2B payment to a vendor.

Faster Payments

FICO

APRIL 20, 2023

It stands to reason that as more payees adopt this simple and inexpensive form of payment, more businesses will also gravitate to it as a less expensive and faster way to compensate employees and contract workers. Debbie is responsible for the products’ strategic direction and enabling enterprise use cases across a global client base.

Real Time Payments

FICO

JUNE 4, 2018

A list of payers from which a payee regularly receives funds. Authorized push payment scams manipulate the account holder into making the payment to an account controlled by fraudster—hence the term ‘’. Devices that a payer has used in the past to make payments. Foreign countries that a payer paid before.

Demand Deposit Account (DDA)

Nanonets

APRIL 3, 2024

When you make an in-person or digital purchase, the digital wallet generates a unique, one-time authentication and communicates that alongside transaction data to the recipient or payee. Because they’re generated on a one-off basis, there’s far less risk of card compromise through data leaks or hacks.

Credit Cards

Nanonets

MAY 30, 2023

 Both payer and payee receive notifications of funds transfer, which makes it a dependable process. While digital wallets are secure as long as they are in the hands of the owner of the device that holds the wallet, safety is always compromised if the device is stolen. Advantages Transactions are secure and quick.  Both

Payment APIs and Integration

PYMNTS

APRIL 29, 2016

HAPPY PAYEE, HAPPY PROCESS. Much like consumers appreciate the convenience that comes with being able to pay with whatever payment method suits their needs best at the time of purchase, payees also want to be able to receive payments in the manner that they would like to be paid.

Payee

CB Insights

AUGUST 25, 2017

Blockchain could be used to create a more direct payment flow that connects payers and payees — across borders or domestically — without intermediaries, at ultra-low fees and almost instant speed.

Blockchain

The Payments Association

JANUARY 14, 2025

Mark O’Keefe (TPA) suggested that allowing customers to customise their security thresholdsfor example, setting transaction limits above which additional verification steps are triggeredcould empower users without compromising safety. However, not everyone supported placing responsibility on users.

Fraud Prevention