PYMNTS

NOVEMBER 17, 2020

Fraudsters utilizing these schemes rely on tactics such as phishing and impersonation scams to trick customers and businesses into sending payments or payment details, and their use of real-time rails can enable them to make off with the funds before customers catch on. Bad actors typically perpetrate APP fraud in several ways.

Scams 89

Scams Account Takeovers Federal Trade Commission Real Time Payments 89

FICO

NOVEMBER 22, 2021

This busy and complex environment provides the perfect conditions for consumers to fall for scam deals or buy products that aren’t quite what they expected. For instance, online shopping scams in the U.K. It's the giving season — during a pandemic — which multiplies the opportunities for fraudsters to try to scam you.

Scams 98

Scams Online and Mobile Banking Identity Theft Credit Cards 98

PYMNTS

SEPTEMBER 28, 2020

The Federal Trade Commission (FTC) found 184,000 instances of pandemic-related fraud had occurred in the United States since the end of August, resulting in the theft of more than $124 million,” per the new Playbook.

Financial Crimes 81

Financial Crimes Crime Due Diligence Federal Trade Commission 81

PYMNTS

MAY 21, 2020

Artificial intelligence (AI) and machine learning (ML) can analyze the thousands of transactions banks process each day in real time, and employee education efforts are proving effective in preventing deception via phishing emails or other social engineering techniques. Developments Around The Financial Crimes Space. This accounted for 20.3

Financial Crimes 52

Financial Crimes Crime Identity Theft Federal Trade Commission 52

Center for Payments

NOVEMBER 21, 2023

The FBI works to raise awareness of the types of scams that are common around the holidays and how you can protect yourself and your customers or members. Charity Scams Scammers are aware of the “giving season” and will often create fake crowdfunding campaigns and charities to exploit people’s goodwill.

Holiday Scams 40

Holiday Scams Scams FBI Federal Trade Commission 40

PYMNTS

SEPTEMBER 18, 2017

Late last week, the Federal Trade Commission made the rare public announcement that it was looking into the breach, prompted by the attention the case has generated. The stolen data included Social Security numbers, birth dates and other personal information. There’s also a risk of medical fraud, noted the report.

Breach 66

Breach Risk Data Breach Federal Trade Commission 66

Innovative Payments Association

JUNE 26, 2024

Fraud and scam activity can happen to anyone. There are a lot of senior citizens who are not as lucky or haven’t been that fortunate when it comes to scams or fraud. Scams targeting senior citizens are unfortunately all too common and often can be devastating. Use contact information from official sources.

Scams 52

Scams Federal Trade Commission Identity Theft Law Enforcement 52

PYMNTS

MARCH 3, 2020

Of all the dirty rotten scandalous schemes fraudsters get up to, one of the worst is the old “lonely hearts” scam, dressed up in smartphone attire. It’s just as bad stateside, with the Federal Trade Commission (FTC) concluding that Americans got taken for over $200 million via internet romance ruses last year alone.

Federal Trade Commission 53

Federal Trade Commission FTC Account Takeovers Ransomware 53

FICO

JANUARY 19, 2022

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. TBML: What Is Trade-Based Money Laundering? Courier Scams – How They Work And How To Fight Them. Here are excerpts.

Financial Crimes 52

Financial Crimes Crime Money Laundering NFTs 52

PYMNTS

NOVEMBER 4, 2019

From counterfeiting to identity theft to phishing attacks, digital fraud takes many forms — and online shopping continues to make consumers and merchants vulnerable to such attacks. According to a new LexisNexis study , overall retail fraud attempts doubled year-over-year and tripled since 2017.

Online and Mobile Banking 49

Online and Mobile Banking Cross-Border Federal Trade Commission Fraud Prevention 49

PYMNTS

APRIL 22, 2020

Since Tuesday (April 21), the DOJ said the FBI’s Internet Crime Complaint Center (IC3) has reviewed more than 3,600 complaints related to COVID-19 scams. The sites were used as phishing schemes, authorities said. Department of Justice (DOJ).

Scams 69

Scams Federal Trade Commission Law Enforcement Phishing 69

The Fintech Times

FEBRUARY 12, 2025

Online romance scams reach new levels of deceit with artificial intelligence (AI), turning hopeful hearts into targets for sophisticated fraud. Fraudsters can use AI to develop highly convincing scams, deceiving even the savviest people and businesses. So, how can a criminal so convincingly create a fake identity?

Romance Scams 59

Romance Scams Scams AI Deepfake 59

PYMNTS

MAY 14, 2020

Digital retailers still need to protect against fraudulent listings with false products or the impersonation of legitimate consumers, for example, scams that have increased in parallel with online payment volume. Federal Trade Commission (FTC) recently reported American consumer shave already lost $13.4

Federal Trade Commission 60

Federal Trade Commission FTC Phishing Authentication 60

PYMNTS

JULY 13, 2018

It turns out companies are having some success in the everlasting battle against corporate fraud — in B2B, email phishing scams and supply chain attacks in particular. The efforts will involve the Department of Justice, CFPB , SEC and Federal Trade Commission , along with agencies in law enforcement at the local level.

Risk 40

Risk Phishing Federal Trade Commission Debit Card 40