Fi911

MAY 22, 2024

Duplicate Charges : If a payer is charged more than once for the same transaction, the duplicates can be reversed. Also, implement fraud detection systems to identify and mitigate suspicious transactions. Address customer complaints and inquiries promptly to resolve potential issues before they escalate.

Payer 104

Payer Address Verification System (AVS) Disputes Payee 104

Paystand

FEBRUARY 6, 2025

Common challenges include data duplication, entry errors, integration problems, and lack of governance. Solutions like regular data cleansing, automation, and robust governance frameworks can mitigate these issues. Paystand offers tools to streamline financial data management and improve decision-making for CFOs.

Duplicate 40

Duplicate Mitigation Governance Government 40

PYMNTS

AUGUST 5, 2020

Advertising fraud — where fraudsters imitate legitimate gaming apps in an attempt to trick advertisers into spending funds on their duplicate app — also remains a favored tactic, meaning platforms will need to strengthen defenses as these games continue to grow in popularity.

Bots 111

Bots Authentication Identity Theft Void 111

Fintech News

MAY 14, 2024

Securing Authenticity: ZOLOZ’s Solution to Deepfake Challenges in the Digital Age IdNetwork: Identifying Systemic Risks The IdNetwork layer utilises data science graphs to identify and map duplicate authentication risks, and identity fraud risks on a large scale.

Deepfake 119

Deepfake Authentication Verification AI 119

PYMNTS

JUNE 20, 2019

In accounts payable and accounts receivable, rising fraud mitigation efforts may also lead to more false positives, leading to declined commercial card transactions, misplaced suspicion between buyers and suppliers, delays in invoice processing and more. The False Positive Threat.

B2B 73

B2B Fraud Detection Third Party Vendors Payments 73

The Paypers

SEPTEMBER 12, 2022

Standard Chartered has completed a pilot testing of the Trade Financing Validation Service provided by MonetaGo over SWIFT , to mitigate the risks of duplicate trade finance fraud on a global scale.

Finance 36

Finance Duplicate SWIFT Mitigation 36

The Fintech Times

MAY 2, 2024

TPS’s partners will also be able to accurately track their environmental impact, embed carbon intelligence for their end consumers and cardholders, mitigate their emissions with high-quality carbon credits , and transparently report their progress. This approach prevents the duplication of credits and ensures clear transparency.

TPS 69

TPS Card Issuer Duplicate Blockchain 69

PYMNTS

JUNE 7, 2018

But for multinational firms with troves of supplier data, managing the information and ensuring its accuracy is a growing headache – especially as more businesses find that their vendor data is filled with duplicates, errors and even business partners that are exposing firms to legal risks.

Duplicate 57

Duplicate Legal Mitigation Risk Mitigation 57

Fi911

AUGUST 28, 2024

Ultimately, understanding these codes helps merchants enhance their response strategies, mitigate potential losses, and improve overall customer satisfaction. List of Discover Chargeback Reason Codes: By Category The list of Amex chargeback reason codes can be divided into a few different subgroups.

Disputes 69

Disputes Non-Bank CHIPS Authorization 69

Nanonets

APRIL 7, 2023

To mitigate these risks, many companies resorted to opening multiple bank accounts and distributing their funds across them. The demise of SVB serves as a stark reminder of the importance of due diligence and risk management when it comes to securing the financial position of startups. What did most startups do in this situation?

Treasury Management 98

Treasury Management Treasury Due Diligence Wire Transfer 98

PYMNTS

AUGUST 8, 2018

The funds will be used to focus on growing its employee base and investing in outreach so it can grow its solution, which uses artificial intelligence and machine learning to tackle problems like data entry and duplicate invoices. This technology, though, can manage other key issues with invoice processing, including fraud and duplicates.

Duplicate 48

Duplicate Bots Facilitators Mitigation 48

Nanonets

NOVEMBER 16, 2023

They should align with the goods or services received and must not be duplicates of invoices that were already processed. This is a great way to mitigate overspending and manage expense forecasts.  Stamps could be used by unauthorized individuals, increase the risk of fraud, and cause accidental duplicate payments.

Accounts 52

Accounts Best Practices Duplicate Checks 52

PYMNTS

FEBRUARY 11, 2020

“Traditionally, financiers had to take various methods to try and mitigate fraud,” Tarone noted. Even as businesses move away from physical paper, their reliance on email to transmit information between trading partners and players in the ecosystem exposes the trade finance arena to the growing risk of cyberattacks.

Finance 53

Finance Technology Cross-Border Distributed Ledger Technology (DLT) 53

Nanonets

APRIL 3, 2024

Fraud Detection and Prevention: Through vendor reconciliation, businesses can detect discrepancies that may indicate fraudulent activities such as overbilling, duplicate invoices, or fictitious vendors. Any discrepancies, such as duplicate payments or missing entries, must be identified.

Reconciliation 52

Reconciliation Process Accounts Duplicate 52

Neopay

FEBRUARY 27, 2025

To avoid duplication of requirements and to provide legal clarity to the market, the EBA has amended its Guidelines on ICT and security risk management. DORA has introduced harmonised requirements on ICT risk management that apply to financial entities across the banking, securities/markets, insurance and pensions sectors.

Risk Management 52

Risk Management Risk Security Legal Framework 52

PYMNTS

OCTOBER 18, 2019

Blockchain Mitigates Risk. Using blockchain, invoices can be tokenized and turned into smart contracts, meaning information cannot be duplicated or altered. This mitigates a range of risks, both for trading partners and their financiers.

Blockchain 41

Blockchain Duplicate Mitigation Risk 41

PYMNTS

FEBRUARY 5, 2020

But as service providers find opportunity in mitigating friction associated with employee purchases, Hoag noted that the true opportunity lies not in the payment itself. Teams often don’t understand they’re paying for overlapping services, duplicate vendors and zombie subscriptions that fall below the radar.”.

Duplicate 57

Duplicate Payments Commercial Card Compliance 57

PYMNTS

JANUARY 26, 2021

With digital transformation now at the top of every chief financial officer’s priority list, embracing data analytics as a tool to mitigate spend risk will be an important part of organizations’ efforts to strengthen financial positions at a time when market volatility demands it.

Audit 75

Audit Continuity Automation Risk 75

Nanonets

APRIL 12, 2023

By implementing effective spend management practices, organizations can identify cost-saving opportunities, streamline procurement processes, ensure compliance with regulations and policies, and mitigate financial risks. In this step, organizations validate and clean the data, removing any discrepancies, duplicates, or errors.

Duplicate 52

Duplicate Compliance Automation Process 52

FloQast

OCTOBER 27, 2023

Typically, compliance management will also include Identifying appropriate controls, Managing relationships with various regulators, Coordinating or responding to regulatory concerns and inquiries, and Mitigating regulatory breaches Why is Compliance Management Important? Here’s the thing. The post What is Compliance Management?

Compliance 52

Compliance Best Practices Mitigation Procedures 52

PYMNTS

JULY 26, 2019

Nucleus announced an update Thursday (July 25) to its FinnAxia transaction banking tool to combat real-time payments fraud using artificial intelligence to automatically identify anomalies and duplicate or fraudulent transactions.

Real Time Payments 40

Real Time Payments Cross-Border Payments Fraud Detection Faster Payments 40

PYMNTS

MARCH 6, 2017

This can translate to issuers and consumers, where cards compromised by fraud or theft can be mitigated using individual card numbers that can be switched on or off, in a nod to both safety and convenience.

Credit Cards 52

Credit Cards Card Issuer Issuers Online and Mobile Banking 52

Nanonets

MARCH 22, 2023

Lower errors and better fraud mitigation Apart from streamlining invoices, accounts payable outsourcing companies also reduce the incidence of errors in invoices. Issues with duplication Many account payable outsourcing companies charge on a per-invoice basis.

Accounts 52

Accounts Duplicate Automation Process 52

PYMNTS

AUGUST 29, 2016

“Not preventing duplicate invoice payments.” Zitting warned that mitigating these issues is even more difficult considering how many executives are confident in their own systems. Plus, CFOs have more important things to worry about.

Payroll 43

Payroll Duplicate Accounts Mitigation 43

PYMNTS

JANUARY 28, 2020

Extreme couponing can be mitigated by carefully defining coupons’ limitations, but halting coupon fraud requires a more forceful hand. The former uses only the legal terms and conditions to achieve maximum savings, while the latter falsifies coupon information or obtains coupons illicitly. Employees Should Keep An Eye Out .

Duplicate 56

Duplicate Database Mitigation Adjustments 56

PYMNTS

JUNE 16, 2020

This may seem like an unwinnable battle for the restaurant industry, but there are measures that can mitigate this problem. Googling quoted excerpts can reveal duplicates at other restaurants or other review sites, much like how a college professor can detect plagiarism. Another signifier is multiple reviews posted on the same day.

Venmo 61

Venmo Push-to-Card Duplicate Bots 61

Segpay

APRIL 16, 2024

To mitigate this risk, merchants should ensure that their billing descriptors are clear and recognizable on cardholder statements. Implementing a transparent and customer-friendly return and refund policy can also help mitigate disputes related to product quality or dissatisfaction.

Disputes 52

Disputes Address Verification System (AVS) Fraud Prevention Fraud Detection 52

Nanonets

JUNE 21, 2023

This process helps identify any missing or unmatched payments, duplicate transactions, or other errors that may impact the financial records. By reconciling payments, businesses can maintain financial integrity, enhance decision-making based on reliable data, and mitigate risks associated with inaccurate or fraudulent transactions.

Payment Reconciliation 52

Payment Reconciliation Reconciliation Best Practices Automation 52

EBizCharge

OCTOBER 17, 2023

To help with this, here are six common causes of ACH reversals to be aware of: Duplicate payments: ACH payment reversals can rectify accidental or duplicate payments to correct unintended financial repetition and appropriately restore funds. The timing and notification process of ACH returns and reversals also differ.

ACH 52

ACH Returns RDFI ODFI 52

Nanonets

MAY 7, 2024

By comparing these records, businesses can identify any discrepancies, such as missing or duplicate transactions, incorrect or false amounts, or any unauthorised expenses and transactions. Credit card reconciliation helps identify discrepancies such as fraudulent transactions, duplicate charges, or unauthorised expenses.

Reconciliation 52

Reconciliation Best Practices Credit Cards Compliance 52

Nanonets

JULY 24, 2023

Step 5: Find errors Although rare, errors can occur on the bank's side, such as duplicate records, incorrect transaction entries, or miscalculated commissions. This helps safeguard the company's assets and mitigate financial risks. This helps prevent the propagation of errors and ensures the integrity of financial data.

Reconciliation 52

Reconciliation Finance Duplicate Accounts 52

Nanonets

JUNE 19, 2023

Accounts payable audits can be time-consuming and stressful, but they yield significant benefits in identifying and mitigating financial risks. Automation minimizes human inputs, thereby substantially reducing the occurrence of such errors and mitigating the risk of fraud. Can Accounts Payable Audit be Automated?

Audit 52

Audit Accounts Procedures Compliance 52

Nanonets

SEPTEMBER 22, 2023

Checking for duplicate payments is another essential practice that helps prevent unnecessary expenditure and minimizes errors. Check for duplicate payments to minimize errors and unnecessary costs. This helps in maintaining accurate financial records and mitigating potential risks.

Accounts 40

Accounts Master Account Best Practices Reconciliation 40

Nanonets

MAY 21, 2024

Effective Account Reconciliation promotes compliance with regulatory requirements and accounting standards, mitigating the risk of penalties and legal consequences. Bank Errors : Banks can make errors in processing transactions, such as posting incorrect amounts or duplicating entries.

Best Practices 52

Best Practices Reconciliation Accounts Payment APIs and Integration 52

PYMNTS

MARCH 27, 2019

These inefficiencies turn compliance and reporting efforts into an inefficient process marred by multiple, disparate systems, duplicate or inconsistent data and a major waste of precious resources. From Burden To Opportunity.

Compliance 46

Compliance Regulatory Compliance Regulations Risk Mitigation 46

PYMNTS

JANUARY 3, 2020

The technology can tackle the threat of duplicate invoices, said Mittal, which occurs when a business submits the same outstanding invoice more than once to obtain financing for it.

Financial Inclusion 48

Financial Inclusion On-Demand FinTech Small Business 48

Nanonets

MAY 21, 2024

By systematically reviewing and verifying accounts receivable balances, businesses can maintain financial transparency, mitigate risks, and optimise their financial performance. Common discrepancies may include unapplied payments, duplicate entries, or incorrect customer balances.

Reconciliation 52

Reconciliation Accounts Adjustments Correspondent 52