Stax

AUGUST 22, 2024

PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks. Major risk factors for PayFacs include fraudulent transactions, merchant credit risk, regulatory compliance, and operational risks.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

PYMNTS

NOVEMBER 19, 2019

The credit cycle will turn, and you’ll have a generation of credit risk managers who’ve not been through a recession yet. “The economic consensus is that we are not going to get much better than now,” Geeslin said, joining those voices that are predicting an economic slowdown.

Credit Cards 56

Credit Cards Credit Union Identity Theft Card Issuer 56

FICO

MAY 19, 2021

At some point, many victims of third-party fraud become aware of the crime when unknown transactions appear on statements, or a debt collection agency attempts to collect money the victim does not owe. Unlike third-party fraud, the transactions are committed with accurate information and seemingly legitimate intentions. Matt Cox.

Cross-Border 52

Cross-Border Crime Credential Money Laundering 52

PYMNTS

DECEMBER 23, 2019

More insidious and much harder to track, Townsley-Solis told Webster, is synthetic ID fraud. In synthetic identity theft, she explained, the fraudster is still pretending to be someone they are not, but the difference is that they aren’t so much imitating an existing person as creating one.

Social Security 52

Social Security Identity Theft Wire Transfer Security 52

FICO

MAY 19, 2021

In contrast, first-party fraud often masquerades as a credit risk problem; delinquent accounts are sent to collections for a progression of treatment. In this way, first-party fraud can be eventually written off as uncollectible and is sometimes sold unknowingly to external collections agencies. by Matt Cox.

Cross-Border 52

Cross-Border Crime Money Laundering Credential 52

FICO

MAY 17, 2019

As the years passed by, fraud evolved to target lower hanging fruit (as it always does). We fought (and continue to fight) the growth of card not present (CNP) fraud that followed the rise in e-commerce. More recently, the race has been to detect fraud in emerging faster payment schemes (real-time payments).

FBI 75

FBI Credit Risk Identity Theft Law Enforcement 75

PYMNTS

MARCH 27, 2020

They incorporate disparate elements of real identities so they look more realistic, too, such as a Social Security number from one victim and the address of another. Synthetic identity application fraud leaves no identity theft victim for banks to contact, making it difficult to recognize the deceit until it is too late.

Identity Theft 83

Identity Theft Technology Authentication Credit Cards 83