PYMNTS

JANUARY 13, 2020

The launch of EMV chip cards in the U.S. Despite their success, the use of EMV cards with no required PIN codes has left a door unlocked for crooks. Among those not tuning it out is the National Retail Federation (NRF), which has complained about the EMV-PIN weakness and the liability issues it creates for NRF members.

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EMV Data Breach Chip Cards Push-to-Card 54

Stax

MARCH 4, 2024

The significance of EMV cards EMV cards use a microchip that generates a code for each transaction, which is transmitted instead of the card number as the transaction processes. The role EMV cards play in preventing counterfeit cards and reducing fraud cannot be overstated.

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PCI DSS Payment Security Security MFA 88

FICO

AUGUST 21, 2020

Spikes in CNP transactions and related fraud: It’s true that in the wake of the US EMV mandate in 2015, card-not-present (CNP) fraud has risen. For more information on fraud management in the pandemic, see my colleague Liz Lasher’s post, “ 8 Tips for Avoiding COVID-19 Scams.” Here’s what different about fraud during COVID than 2008.

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Phishing Scams Fraud Detection Issuers 52

PYMNTS

MAY 13, 2019

They can also fall victim to card skimming scams, and hackers can initiate remote code execution attacks to take them over. . There are several ways these attacks can be prevented, however, starting with EMV chip acceptance. EMV and contactless payments .

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Security EMV Encryption Contactless Payments 49

PYMNTS

OCTOBER 2, 2019

3,248: Average amount millennial consumers lost per bank scam this past year. 7.1B: Minimum number of EMV payment cards in circulation around the world. 30,000: Number of free pies that &pizza gave away to furloughed government workers during the shutdown earlier this year. 10 percent: Approximate share of people in the U.S.

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Shutdown EMV Scams Governance 43

PYMNTS

JANUARY 20, 2017

In many cases, experienced or tech savvy users can spot a phishing email scam from a mile away. The “highly effective” scam tricks users into divulging their account login credentials by sending a message disguised as a trusted contact with an attachment, something that isn’t very out of the ordinary.

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PYMNTS

NOVEMBER 27, 2019

The expansion of EMV chip-enabled payment cards has made it more challenging for fraudsters to steal credit card information at the point of sale (POS). has recently experienced a rise in property scams in which thieves steal deeds and forge sales documents and notary stamps. The city of Philadelphia, Pa.,

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Point-of-Sale (POS) AI Card Issuer Credit Cards 60

PYMNTS

FEBRUARY 4, 2020

EMV cards have lessened ATM skimming attacks on debit cards, for example, but cybercrooks never sleep. Even with card skimmers slowly exiting the equation, debit cards are still prone to fraud, as card-not-present scams still pervade the eCommerce space and often go undetected for longer periods of time.

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Debit Card Federal Trade Commission ATM FTC 52

PYMNTS

JUNE 3, 2020

With the rise of FinTechs in Europe and the rest of the world, and with EMV, there’s a shift away from counterfeit fraud and mag stripes, toward CNP [card-not-present] and eCommerce fraud,” Tharle said. Authorized fraud also encompasses business email compromise (BEC) scams, too, said Tharle.

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Business Email Compromise Email Compromise Real Time Payments Authentication 71

PYMNTS

OCTOBER 2, 2018

Squeezed out of tried-and-true methods of card fraud (thanks in no small part to EMV), the fraudsters are eyeing how to interfere with the money that firms legitimately send in the course of normal, daily business life. The nature of being scammed leads the victim to feel like they are solely responsible or that they have made mistakes.

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Money Laundering Crime Business Email Compromise Financial Crimes 59

PYMNTS

JUNE 22, 2017

From email scams to malware, businesses have to keep their guard up or risk losing big bucks to cybercriminals. The migration to EMV chip cards has introduced new points of friction for companies looking to mitigate fraud, the data suggests. The threat cybersecurity holds over corporations today is massive.

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Innovation Chip Cards EMV CHIPS 43

PYMNTS

JANUARY 26, 2017

With paper checks still so prevalent in B2B payments, fraud continues to stunt the industry (although, the report noted, EMV, virtual cards and better fraud protection measures in the card space could lead to a reduction in B2B payments fraud when commercial cards are used). Regulation Throws FinTech Off-Guard.

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B2B Innovation B2C Faster Payments 54

PYMNTS

AUGUST 26, 2019

Cash-out scams, he noted, used to be about harvesting thousands and perhaps even hundreds of thousands of gift and prepaid cards in a heist. When EMV made card skimming in the physical world hard, fraudsters didn’t quit the business. Fighting The Infection .

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ATM Push-to-Card Issuers Processors 82

PYMNTS

MAY 5, 2017

The growth in digital payment fraud comes as activity has moved away from card-present transactions in an ecosystem protected by EMV authentication standards. Google And Facebook Scammed Out Of $100 Million.

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Breach Business Email Compromise Data Breach Cybersecurity 45

PYMNTS

DECEMBER 2, 2019

Approximately 12 percent of live concert attendees — about 11 million people — fell victim to ticket scams last year, including those in which consumers purchased fake tickets or paid for ones that ultimately never materialized.

Point-of-Sale (POS) 52

Point-of-Sale (POS) Account Takeovers Credit Cards Duplicate 52

Stax

APRIL 30, 2024

It uses AI and machine learning to identify fraudulent behavior and reduce the risk of scams, protecting your overall revenue. In addition, using technology like EMV and tokenization for your credit card payments can also increase merchant processing security. Stripe also focuses on the safety of the business and its customers.

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Process Online and Mobile Banking PCI DSS Debit Card 88

PYMNTS

JUNE 23, 2016

No worries about remembering PIN numbers, passwords or worrying about your card being scammed – your smartphone will do it for you.”. While a shift toward EMV ATMs might seem to be a viable solution to combat rising ATM fraud, he said it may be a while before the payment industry sees a concrete change.

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ATM Credit Cards ATMIA Privacy 41

PYMNTS

FEBRUARY 15, 2019

Visa reports that merchants have seen an 80 percent drop in card-present fraud – as measured from September 2015 to September of 2018 – due to the increased adoption of Europay, Mastercard and Visa (EMV) chip cards. The Federal Trade Commission has issued a warning as people lost a median of $2,600 from the scams.

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Romance Scams Scams Federal Trade Commission Chip Cards 46

Clearly Payments

JANUARY 8, 2025

Credit Card Security Chip Technology and Tokens : In many parts of the world, credit cards now come with EMV chip technology , which greatly reduces fraud by making it harder to duplicate card information. Tokenization : Tokenized payments, especially through digital wallets, mask card details, adding an extra layer of protection.

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Credit Cards Cryptocurrency Cross-Border Volume 105