Fintech News

JULY 16, 2024

Global analytics software leader FICO unveiled its latest global consumer fraud research , highlighting that complex identity checks are stalling Singapore’s digital banking progress. This increase in identity checks by Singapore banks is a direct response to the significant issue of identity theft in the country.

Identity Theft 113

Identity Theft Online and Mobile Banking Checks Compromise 113

The Payments Association

APRIL 22, 2025

Drawing on comprehensive data from the 14 largest banking groups in Great Britain and Northern Ireland, the insights provide an in-depth examination of the tactics fraudsters use, the platforms they exploit, and the devastating impact these scams have on victims. Whilst scam values decreased overall, rates and losses remain substantial.

Scams 88

Scams Romance Scams Crime Online and Mobile Banking 88

FICO

APRIL 12, 2017

IDC predicts that in 2017, behavioral analytics across compliance, fraud, and cyber detection and prevention will be in place at 15% of banks, helping them to avoid losses, regulatory fines and sanctions. Banks have already made a big start in the fraud space. How do behavioral analytics work? .

Financial Crimes 49

Financial Crimes Crime Suspicious Activity Report (SAR) SARS 49

The Fintech Times

JANUARY 14, 2025

Malrait was previously managing director and global head of market structure and innovation for financial markets at ING Bank. Payment company Unzer has appointed Goetz Moeller as chief financial officer. Moeller will lead Unzers finance department, overseeing financial planning and analytics, treasury and accounting.

FinTech 64

FinTech Online and Mobile Banking Payment APIs and Integration Treasury 64

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. Darryl Knopp wrote: For banks with their own BNPL offering, a multi-layered approach to risk management and fraud protection is critical. Here are excerpts. How to Fight Back.

Financial Crimes 52

Financial Crimes Crime Money Laundering NFTs 52

PYMNTS

JANUARY 1, 2021

Digital-First Banking. Banks will need to seriously revamp their in-branch experiences to accommodate the new normal as customers are growing used to the unparalleled convenience and speed that mobile banking has to offer. The year-over-year increase in cross-border online sales was even more dramatic in other regions.

Economy 103

Economy Online and Mobile Banking Credit Union Money Laundering 103

FICO

DECEMBER 4, 2017

Not a mobile payment, Venmo or Zelle, PayPal or Cashbot was in sight. Seeing the flutter of sawbucks gave me a flashback to one of my first payments memories, from the early 1980s, when the Connecticut Bank and Trust Co. Mobile Payments Proliferate. It’s no secret that consumers are moving quickly to embrace mobile payments.

Mobile Payments 64

Mobile Payments Zelle Online and Mobile Banking ATM 64

PYMNTS

JANUARY 19, 2021

In financial services, in the eternal war to keep customers (and themselves) safe from online fraudsters, banks may lift a mantra from the real estate sector: It’s all about location, location, location. Only about a third of banks’ apps ask for robust location data, said Briggs. Not all data are created equal, of course.

Online and Mobile Banking 90

Online and Mobile Banking Addressing Scams Account Takeovers 90

PYMNTS

JUNE 4, 2020

Some players in the space are now suggesting that open banking could be a tool to help FIs accelerate the know your customer (KYC) processes. FIs that enable open banking make application program interfaces (APIs) available to third parties, which can then use the APIs to seamlessly draw on customer data. Around The AML/KYC Landscape.

Money Laundering 63

Money Laundering Online and Mobile Banking Payment APIs and Integration AML 63

Fi911

DECEMBER 19, 2023

As digital banking services grow in popularity, the unfortunate byproduct is a corresponding rise in fraud. This trend underscores the question: Can AI truly integrate into the financial sector effectively? The Escalating Threat of Financial Fraud Financial crimes are on an upward trajectory.

Fraud Prevention 98

Fraud Prevention Fraud Detection Point-of-Sale (POS) Online and Mobile Banking 98

PYMNTS

JUNE 12, 2018

Trulioo , the global identity and business verification provider announced Tuesday (June 12) that it has partnered with Acuant , a global provider of data capture and identity authentication solutions, to enhance GlobalGateway, its online identity verification marketplace.

Verification 46

Verification Online and Mobile Banking Authentication Money Laundering 46

The Fintech Times

JUNE 5, 2025

Deutsche Bank and Mastercard expand open banking payments Deutsche Bank and Mastercard unveiled a strategic partnership to expand open banking and transform payment experiences across Europe. The collaboration will enhance Deutsche Banks Merchant Solutions by integrating Mastercards open banking technology.

ISO 20022 59

ISO 20022 Cross-Border Cross-Border Payments Online and Mobile Banking 59

PYMNTS

OCTOBER 22, 2020

He describes to PYMNTS how Feedzai has helped its customers adjust and implement effective defenses against financial crime and react appropriately in a digital age. truer words have never been spoken in the financial crime domain. The following is an excerpt from What Did You Change? When it comes to 2020 (and beyond?),

Online and Mobile Banking 52

Online and Mobile Banking Financial Crimes Crime Adjustments 52

PYMNTS

NOVEMBER 17, 2020

The great digital shift has created a host of problems for banks — 1 trillion problems to be exact. As reported by PYMNTS, more than half of all bank customers in the U.S. representing 118 million individuals — use mobile banking apps. Getting the customers involved includes a bit of friction.

Authentication 78

Authentication Online and Mobile Banking Financial Crimes Mobile Banking 78

Finovate

MARCH 7, 2025

As a proliferation of payment options promises to streamline banking and commerce, regulators, fintechs, and financial services companies are looking for ways to make sure that the challenges to these new payment optionsfrom technical complexity to new forms of fraud and financial crimeare met.

Payments 52

Payments Push-to-Card Online and Mobile Banking P2P 52

PYMNTS

JULY 21, 2020

In a deal expected to create the world’s largest online classifieds company, eBay Inc. has agreed to sell its ad division to Adevinta ASA, the Norwegian online marketplace, for $9.2 Ant Group, the online payments division arm of Alibaba Group Holding Ltd., New Report: Mercado Pago On How Mobile Bridges The LatAm Banking Gap.

Consumer Financial Protection Bureau (CFPB) 56

Consumer Financial Protection Bureau (CFPB) CFPB Online and Mobile Banking FinTech 56

Fintech News

OCTOBER 28, 2024

It enables financial institutions, especially those without core banking systems or with systems lacking API integration, to manage bulk transactions. Integrated with bank accounts and digital wallets in Pakistan, Hakeem provides customers with easy disbursement options. ThitsaWorks Pte.

AI 108

AI FinTech Innovation Payment APIs and Integration 108

PYMNTS

APRIL 15, 2020

The advent of COVID-19 , Fiserv ’s Vice President of Risk Analytics and Strategy Kannan Srinivasan and Vice President of Fraud and Financial Crimes Management Gasan Awad told PYMNTS, didn’t introduce these things – but it did create a perfect storm of factors that is now pushing these fraudsters into overdrive. Powering A Fast Pivot.

Online and Mobile Banking 80

Online and Mobile Banking Scams Bots Risk Management 80

PYMNTS

OCTOBER 7, 2020

That’s bad news at a time when bitcoin supporters are trying to increase its use and acceptance among mainstream consumers who are making more online purchases than ever as a result of the pandemic. As PYMNTS’ Preventing Financial Crimes Playbook recently noted, the U.S. Jack Dorsey Likes Bitcoin, But So Do Crooks .

Bitcoin 93

Bitcoin Consumer Cryptocurrency Scams 93

PYMNTS

OCTOBER 21, 2020

“This year has been even worse on the fraud front,” we learn from the new PYMNTS Preventing Financial Crimes Playbook , done in collaboration with NICE Actimize , “as financial crime stresses FIs that are already confronting the pandemic, economic struggles and an unpredictable political climate.

P2P 56

P2P Security MFA Financial Crimes 56

FICO

SEPTEMBER 10, 2020

Typically, money mules are unwittingly tricked into depositing a fraudulent check into a bank account or into receiving money from accounts without authorization of the account owner. Consumers are taking “mobile to the max” by using their phones for mobile deposit, contactless payments and person-to-person payments.

Crime 52

Crime Money Laundering Online and Mobile Banking Romance Scams 52

FICO

SEPTEMBER 6, 2021

I recently spoke with FICO’s Adam Davies about c ontextual intelligence , a new approach that banks, other financial institutions and telecommunications companies are embracing to prevent fraud and financial crimes. As an example, let’s look at the use of the mobile phone as a verification variable. Adam: Exactly!

Financial Crimes 52

Financial Crimes Online and Mobile Banking Wire Wires 52

FICO

MARCH 17, 2017

Imagine a scenario where banks offer their services digitally; not as an ad hoc feature but as a fully integrated mobile experience. Banks worldwide are fighting back against fintech start-ups looking to cut their lunch with low-cost banking offerings. Sonia encouraged the participants to be imaginative –and why not?

Online and Mobile Banking 40

Online and Mobile Banking Financial Crimes Credit Cards Crime 40

FICO

FEBRUARY 24, 2022

How COVID-19 became a catalyst for financial crime. Just last month, the Bank of the Philippine Islands flagged rising cases of criminals using another person’s bank account to launder money. The COVID-19 pandemic has reshaped global economies and left millions unemployed. Kicking Back Against Mules.

Money Laundering 52

Money Laundering Financial Crimes Crime AML 52

FICO

JULY 1, 2022

This year at FICO World 2022 there was ample opportunity to analyze just how much the pandemic has changed the fraud and financial crime landscape. Check out my post “ The Role of Data in Managing Fraud and Financial Crime Today ,” a recap of one of my FICO World breakout sessions.). Welcome to the ‘Scampocalypse’.

Financial Crimes 52

Financial Crimes Disputes Online and Mobile Banking Crime 52

PYMNTS

MARCH 11, 2020

This year also kicked off the implementation of the Fifth Anti-Money Laundering Directive (5AMLD), which included among its provisions requirements that cryptocurrency companies be more vigilant in preventing financial crimes from being committed over their platforms. Download the Tracker to read the Feature Story.

Global Payments 60

Global Payments Money Laundering AML Online and Mobile Banking 60

PYMNTS

OCTOBER 10, 2019

Consumers have noticed the rising levels of fraud in digital banking, and they are not pleased. percent of customers agreed that mobile transactions would be more secure if the consumers themselves had more control over their authentication options. Around the Digital Banking World. Equity Bank Tanzania Ltd.,

AML 50

AML Money Laundering Online and Mobile Banking Fincen 50

PYMNTS

DECEMBER 24, 2018

David Divitt, vice president of financial crime products at Vocalink, told PYMNTS’ Karen Webster that $1.45 trillion of losses accrue for businesses, and roughly half of firms are victims of financial crime. Perhaps not surprisingly, financial crime and cybercrime are the biggest offenses. “It

Financial Crimes 65

Financial Crimes B2B Real Time Payments Crime 65

PYMNTS

JULY 30, 2020

Users can also create and delete virtual cards, a way to protect users’ actual card numbers while shopping online. The cuts came from the bank’s head office and operations teams. The company has closed one office overseas, although it said it would continue to invest in governance and fighting financial crime.

Accounts 66

Accounts Financial Crimes Crime Transactions 66

PYMNTS

JULY 1, 2020

In a PYMNTS interview , NICE Actimize Head of Fraud Strategy Rob Tharle shed light on a nasty downside to the proliferation of open banking around the globe. “Open banking promises to bring benefits to consumers and businesses alike but also carries some threats,” he said. Amex Joins Revolut’s Open Banking Platform.

FinTech 56

FinTech Online and Mobile Banking Cross-Border Payments Visa 56

FICO

AUGUST 24, 2021

As we look to our mobile devices to make transactions fast and easy, the mix of underlying data has gotten incredibly complex. Increasingly, in any of these decisions a bank needs to make, they need to use data from both outside and within their organization. She goes to the computer in the hotel lobby to log into her online banking.

Online and Mobile Banking 52

Online and Mobile Banking Authentication Compliance ATM 52

FICO

NOVEMBER 26, 2019

Be Safe Online. If you’ve already paid and later become suspicious that you may have been tricked, let your bank know. If your online merchant offers enhanced security features such as step-up-authentication or soft token, please be sure to opt in. Work with Your Financial Institutions. Check Your Purchases.

ATM 59

ATM Money Laundering Online and Mobile Banking Card Issuer 59

FICO

MARCH 31, 2016

Financial crime poses one of the most significant threats to financial institutions. In recognizing this growing challenge, FICO expanded its regulatory compliance offerings with the acquisition last year of TONBELLER , a full service, risk-based financial crime prevention and compliance firm.

Regulatory Compliance 49

Regulatory Compliance Best Practices Compliance Financial Crimes 49

PYMNTS

APRIL 22, 2020

The ongoing COVID-19 pandemic has put a damper on in-branch banking as banks scramble to find ways to continue their business during this crisis. Finding methods to strike a balance between these competing needs will likely be one of the banking world’s key priorities in the coming months. This amounts to roughly $3.6

Remote Deposit Capture 56

Remote Deposit Capture Financial Crimes Small Business ATM 56

PYMNTS

OCTOBER 16, 2019

Recent scandals involving Deutsche Bank and Swedbank have made consumers reconsider their trust in financial institutions, many of which are scrambling to keep fraudsters out and bring customers back. Between $800 billion and $2 trillion USD is laundered each year, according to the United Nations Office on Drugs and Crime.

AML 49

AML Compliance Money Laundering Financial Crimes 49

PYMNTS

JULY 11, 2018

One bank says it warned Ticketmaster about a malicious software breach that leaked the personal information of tens of thousands of customers months before the company alerted the public. But Monzo , a mobile-only bank based in the U.K., ” In the following days, Monzo’s team reached out to other banks and the U.S.

Breach 40

Breach Financial Crimes Online and Mobile Banking Crime 40

Fintech News

FEBRUARY 10, 2025

Cybercrime syndicates leverage the regions high mobile penetration and relatively young, tech-savvy population to execute scams, exploitative trading schemes, and money laundering operations. According to the report, online illicit drug sales surged by 19% in 2024, surpassing USD $2.4 billion globally.

Crime 92

Crime Ransomware Scams Phishing 92