Fintech News

FEBRUARY 10, 2025

The world witnessed an alarming escalation in cryptocurrency -related crimes in 2024. trillion in 2024, up 56% from the previous year, the shadow economy of digital crime has grown increasingly sophisticated. trillion in 2024, up 56% from the previous year, the shadow economy of digital crime has grown increasingly sophisticated.

Crime 91

Crime Ransomware Scams Phishing 91

Fintech News

JULY 9, 2024

Announced by the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS), this move aims to better protect customers from phishing scams. Phishing scams were among the top five scam types last year, with at least S$14.2

Phishing 109

Phishing Scams Online and Mobile Banking Credential 109

The Fintech Times

JULY 10, 2024

This decision aims to fortify the defence against phishing scams, a persistent threat in the digital banking landscape. Despite their benefits in reducing unauthorised access, OTPs have become increasingly vulnerable to sophisticated phishing techniques, where scammers create fake websites to trick users into revealing their OTPs.

Phishing 59

Phishing Scams Authentication Financial Crimes 59

PYMNTS

AUGUST 3, 2020

The Financial Crimes Enforcement Network (FinCEN) issued a press release warning financial institutions (FIs) and consumers about pandemic-related scams, including some connected to cryptocurrency. FinCEN warns that bad actors “are engaged in fraudulent schemes that exploit vulnerabilities created by the pandemic.”

Fincen 88

Fincen Scams Email Compromise Consumer 88

PYMNTS

MARCH 2, 2020

Barbara Corcoran, a judge on the popular TV show “ Shark Tank ,” said she is “thrilled” about getting back almost $400,000 that she lost during a phishing email scam, according to reports. Scamming and phishing are increasingly more common; about 114,000 people admitted they were scam victims last year alone.

Phishing 60

Phishing Scams Wire Wires 60

Fintech Finance

OCTOBER 24, 2024

Ahead of Money20/20 US, Visa , a global leader in digital payments, today published the State of Scams: Fall 2024 Biannual Threats Report. The latest edition of the report brings to light several emerging threats and scams targeting banks and consumers, including a surprising resurgence of small-scale physical crime.

Scams 98

Scams Ransomware Government Governance 98

The Payments Association

JUNE 11, 2025

Additionally, the sharing of data, both internally and on a federated, industry-wide basis, will be key to winning the war on financial crime. Sustainable growth depends on interoperable risk frameworks, shared scam indicators, and coordinated responses, especially as fraudsters grow more agile and cross-border by design."

Risk 88

Risk Fraud Prevention Fraud Detection Payment APIs and Integration 88

Neopay

JANUARY 22, 2025

According to a recent report by the National Crime Agency (NCA), GenAI represents one of the most substantial threats to the fraud landscape today. Fraudsters are exploiting GenAI tools such as large language models (LLMs), voice cloning, and deepfakes to carry out increasingly sophisticated scams that are harder to detect and prevent.

AI 59

AI Deepfake Phishing Audit 59

The Payments Association

NOVEMBER 18, 2024

Rising youth involvement in economic crimes highlights the urgent need for robust financial education. However, young people are increasingly falling into careers of economic crime under the guises of hackers, fraudsters or money mules. Children must develop their digital literacy and financial literacy skills in tandem.

Financial Literacy 88

Financial Literacy Financial Crimes Crime Scams 88

Fintech News

SEPTEMBER 17, 2024

Major retail banks in Singapore will progressively implement Singpass Face Verification (SFV) over the next three months in a concerted effort to bolster security against phishing scams. While banks will continue to do their part to fight scams, customers need to be vigilant themselves and practice good cyber hygiene.”

Verification 113

Verification Scams Financial Crimes Phishing 113

Fintech News

SEPTEMBER 22, 2024

Global highlights: January – December 2023, Source: Confidence Amid Chaos: Managing Fraud and Scams with Data and Analytics, LexisNexis Risk Solutions In financial services, new account creation attacks increased by 12% YoY, driven by increases on the mobile channel, primarily mobile browser. Despite this high volume. of all cases.

Accounts 143

Accounts Scams Bots Account Takeovers 143

PYMNTS

FEBRUARY 12, 2020

According to the 2019 edition of the FBI’s Internet Crime Report , last year was both a lucrative and diverse year for cybercriminals and scammers. All in, the FBI’s Internet Crime Complaint Center (IC3) received a total of 467,361 complaints, with reported losses exceeding $3.5

Business Email Compromise 101

Business Email Compromise FBI Email Compromise Scams 101

PYMNTS

JULY 27, 2020

Although there are countless ways a cybercriminal can swindle funds from a company — either from the outside or within — it’s often the invoice at the center of the crime. This week’s Data Digest looks at the latest in B2B payments fraud and the invoice’s role in supplier payment redirect scams, credential theft and more.

Law Enforcement 101

Law Enforcement Scams Phishing B2B 101

PYMNTS

MAY 25, 2020

Digital fraud and other forms of financial crime are also on the rise due to the uncertainty and confusion surrounding the crisis. Twenty-two percent of Americans have reported being targeted by COVID-19-related fraud, and these scams have seen more than $1.2 Phishing attacks are some of the most common scams.

Financial Crimes 67

Financial Crimes Crime Scams Fraud Prevention 67

PYMNTS

SEPTEMBER 28, 2020

PYMNTS' September Preventing Financial Crimes Playbook , done in collaboration with NICE Actimize , analyzes the pandemic-era fraud landscape and identifies its many pitfalls. Financial crime-fighters simply won’t suffer this state of affairs. Isn’t it just like a crook to exploit a bad situation?

Financial Crimes 81

Financial Crimes Crime Due Diligence Federal Trade Commission 81

PYMNTS

JUNE 20, 2018

Business scams are nothing new. This past week saw the Federal Trade Commission (FTC) announce a new law enforcement initiative that focuses on bad actors who seek to commit crimes against small businesses. Want more proof of email as a favorite scamming tool? Email attacks seem to be gaining ground.

Scams 45

Scams Phishing Federal Trade Commission Wire 45

PYMNTS

DECEMBER 7, 2020

Business email compromise (BEC) scams continue to ravage company coffers. According to CNBC reports , the email phishing scheme involves attackers impersonating one business executive at a China-based business that offers temperature-controlled supply chain solutions. PYMNTS breaks down the numbers behind the latest cases below.

Business Email Compromise 91

Business Email Compromise Scams Email Compromise Crime 91

PYMNTS

MAY 21, 2020

Financial crime is a never-ending concern for banks, credit unions (CUs) and other financial institutions (FIs), with trillions of dollars and untold terabytes of personal information stolen every year. FIs are working on a number of technologies to fight these financial crime attempts, however. About the Playbook.

Financial Crimes 52

Financial Crimes Crime Identity Theft Federal Trade Commission 52

PYMNTS

JULY 21, 2020

Developments Around The Financial Crimes Space. Developments Around The Financial Crimes Space. Credit card fraud is just one of many techniques that fraudsters leverage to scam FIs and their customers, but it is on the rise amid the pandemic. How Radius Bank Leverages Cooperative Threat Intelligence For Fraud Prevention.

Crime 66

Crime Financial Crimes FBI Cybersecurity 66

PYMNTS

OCTOBER 19, 2020

These apps are not without danger, though, and fraudsters are looking to cheat and scam their way to paydays from innocent users. We split out scams and frauds,” he explained in a recent interview with PYMNTS. Fraud means someone is trying to access your device, while scams consist of people being tricked into sending money.”.

Zelle 68

Zelle Scams AI CashApp 68

Fintech News

JANUARY 17, 2024

Sophisticated scams dominate the fraud landscape BioCatch’s report uncovers a startling surge in financial cybercrime in Asia-Pacific. With scams accounting for 54 percent of all cases, there’s a 200 percent increase in voice scams from the previous year.

Deepfake 125

Deepfake APACS Scams Authentication 125

Fintech Finance

NOVEMBER 26, 2024

These can take many forms, including fake online adverts, phishing emails, romance scams and spurious investments. According to the latest ONS crime data , fraud is now the most frequently committed crime in England and Wales, increasing 7% this year, with 3,560,000 reported incidents.

Romance Scams 98

Romance Scams Scams Crime Payer 98

Fintech News

JANUARY 24, 2024

The enhancement is a response to growing concerns over digital security threats, such as malware and phishing, which have become prevalent in the online banking space. This follows its successful implementation for current and savings accounts in November 2023.

Security 109

Security Deposit Account Phishing ATM 109

The Fintech Times

SEPTEMBER 21, 2024

This process aims to make it more difficult for scammers to take over a customer’s DT by setting it up on his own device using phished credentials such as an SMS, one-time passwords (OTPs) and/or bank card information. “MAS will continue to work closely with banks on measures to protect customers against scams.

Verification 72

Verification Scams Financial Crimes Crime 72

PYMNTS

MAY 22, 2020

Financial institutions (FIs) are no strangers to financial crime, with fraudsters continually targeting them and their customers for money and data. The Federal Trade Commission (FTC) has received 18,235 reports of virus-centric scams since the beginning of the year, and these incidents have resulted in more than $13.4

Fraud Prevention 74

Fraud Prevention Financial Crimes Federal Trade Commission Crime 74

PYMNTS

JUNE 2, 2020

Crypto intelligence company CipherTrace’s “ Spring 2020 Cryptocurrency Anti-Money Laundering and Crime Report ” revealed the thefts have escalated in the wake of the COVID-19 pandemic and ensuing global economic crisis. The scam promised investors incredible returns using nonexistent algorithmic trading software.

Crime 52

Crime Cross-Border Money Laundering ATM 52

PYMNTS

OCTOBER 7, 2020

However, in the past month alone, PYMNTS Bitcoin Daily has reported on nearly a dozen different scams and schemes involving bitcoin or other cybercurrencies. The Pandemic Is Making Scams Worse . As PYMNTS’ Preventing Financial Crimes Playbook recently noted, the U.S. For example, the U.S.

Bitcoin 93

Bitcoin Consumer Cryptocurrency Scams 93

The Payments Association

MAY 13, 2025

To many, that makes APP scams seem unsolvable. Most of these scams dont begin with a phone call; they begin long before, with reconnaissance, setup, and signals that can be detected in the session or across prior ones. APP fraud persuades, it doesnt breach In todays scams, criminals no longer force their way in. But theyre not.

Scams 88

Scams Fraud Detection Deepfake Phishing 88

FICO

JANUARY 5, 2021

What else made for the hottest reads in 2020 for fraud and financial crime? Here were our top 5 posts: #1: Fraud And Financial Crime Convergence. TJ Horan reported on a key takeaway from the Aite Financial Crime Forum : lenders are serious about combining their fraud and financial crime protection systems.

Financial Crimes 52

Financial Crimes Crime Posting Scams 52

The Payments Association

MAY 7, 2025

From AI-driven scams to rising chargeback rates, the challenges are growing more complex and costly. 1) AI-driven fraud and deepfakes Fraudsters are increasingly leveraging Artificial Intelligence (AI) to conduct highly convincing scams. As we navigate through 2025, high-risk merchants face a rapidly evolving fraud landscape.

Risk 88

Risk Disputes Debit Card Cross-Border 88

PYMNTS

JULY 3, 2019

The FCA explained that the products are a risk to consumers because cryptos’ value and risks cannot be reliably assessed due to extreme volatility, market abuse and financial crime, among other reasons. million a year. Using data collected over two years, AmaZix said it has found 730,000 Telegram users, with over 54,500 (7.5

Bots 46

Bots Scams Financial Crimes Blockchain 46

CoinRemitter

SEPTEMBER 22, 2023

What is a phishing attack? The cyber phishing attack is intended to trick individuals into submitting/giving up sensitive information (such as private keys, passwords, etc.). But they may steal and misuse your sensitive information to execute their intended crypto scam.

Phishing 40

Phishing Smishing Credential Scams 40

Fintech Finance

SEPTEMBER 20, 2024

The Payments Association , the most influential community in payments, and We Fight Fraud , an organisation that focuses on tackling financial crime, and supported by Cardaq , has released an investigative documentary exploring the potential impact of new authorised push payments (APP) legislation on consumers.

Financial Crimes 98

Financial Crimes Crime Rules Payments 98

PYMNTS

FEBRUARY 24, 2020

In a new report from ProofPoint , researchers warned that any businesses with the word “tax” in its domain is at risk of being spoofed by phishing attackers targeting small to medium-sized businesses (SMBs). Analysis of BEC complaints filed in 2019 found that BEC scams accounted for nearly half of the $3.5 Tax season is upon U.S.

Business Email Compromise 65

Business Email Compromise Scams Email Compromise Phishing 65

FICO

JANUARY 19, 2022

From TBML to BNPL to NFTs, 2021 found fraud and financial crime professionals dealing with a plethora of new challenges and criminal schemes. Our five most popular posts of the year dealt with trade-based money laundering, non-fungible tokens, buy now pay later scams, courier scams and good old credit card fraud.

Financial Crimes 52

Financial Crimes Crime Money Laundering NFTs 52

FICO

JUNE 15, 2023

Home Blog Feed test To Stop Scams, It’s Time to Add Sensible Friction to Easy Money The convenience and speed of real-time payments makes it easy for fraudsters to scam individuals. Fraudsters love this change and have been scamming consumers and businesses at full speed with all sorts of sneaky, dirty tricks.

Scams 52

Scams Real Time Payments Smishing Same Day ACH 52

The Fintech Times

NOVEMBER 20, 2024

Generative AI (GenAI) is being used to create sophisticated digital forgery and injection attacks through well known methods like phishing, fraud and ransomware. It is essential for preventing fraud and financial crime. Consequently, this has also led to a rise in lending and mortgage scams. per cent of attacks globally).

Deepfake 69

Deepfake Phishing Account Takeovers Scams 69