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How COVID-19 Complicates SCA Compliance For eCommerce Players Worldwide

PYMNTS

That push is coming from two sources — one foreseeable, one not so much. The unforeseeable push is coming from the COVID-19 pandemic. The foreseeable changes stem from the already delayed strong customer authentication (SCA) regulations that are due to go into effect in Europe by the end of the year. card transactions.

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Fighting Fraudsters At The FI/Customer Journey Starting Line

PYMNTS

That’s in part due to the “fraud shift” that has occurred over the last 12 to 18 months, marked by a higher incidence of card-not-present fraud, contended Kraus. In the battle against fraudsters, financial institutions (FIs) must start at the beginning – literally. There are new data privacy concerns, too.”. Fraud’s Shifting Landscape.

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Stopping Scams with Artificial Intelligence and Machine Learning

FICO

Fraudsters are opportunistic, and lately they are (unfortunately) finding a lot of success by targeting consumers directly. Consumers are not as worried about APP fraud and scams as they are for other types of fraud, but awareness is growing. million from debit card payments, and $82.2 For consumers, it starts with awareness.

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U.S. Card Skimming Fraud Grows 700+% in First Half of 2022

FICO

Card Skimming Fraud Grows 700+% in First Half of 2022. Credit card and debit card skimming fraud is back with a vengeance in the US, while other fraud types are seeing global growth. At FICO World 2022, I hosted a session where we talked about global fraud trends like authorized push payment scams and romance scams.

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Survey: Do Customers Think Banks Are Fair to Scam Victims?

FICO

According to the Australian Competition and Consumer Commission’s Scamwatch , for example, more than 57,000 scams were reported in the first two months of 2023 alone. According to the 2023 FICO Global Scams Survey , 51% of consumers worldwide believe their friends or family members have been victims of similar scams.

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How To Build A Global Digital Identity Network

PYMNTS

As Ufford told Webster, past may be prologue, and the future journey toward proving identities may take a hint from the card networks. “ The card networks have essentially given us the roadmap on how to solve identity when they solved card payments.”. What does it take to build a global identity network?

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Real-Time Payments Survey Reveals Growth in Usage - and Scams

FICO

According to FICO’s latest survey of consumers from 14 countries around the globe, 90% of all consumers have sent a real-time payment, and at least 95% of consumers have used real-time payments in India , Indonesia , the Philippines , and Brazil. Throughout the countries we surveyed, RTP usage shows no signs of slowing.