PYMNTS

AUGUST 26, 2019

history and said in a statement that “fraud networks now target individuals and businesses alike … In the BEC scams, the fraudsters will often hack a company’s email system, impersonate company personnel, and direct payments to bank accounts that funnel money back to the fraudsters in Nigeria.”

Business Email Compromise 58

Business Email Compromise Romance Scams Scams Identity Theft 58

PYMNTS

FEBRUARY 14, 2020

In the face of online romance scams, apps like Facebook Dating and Tinder — and more unique, niche dating apps you didn’t know existed — are working to provide singles with safe and secure meet-and-mingle opportunities. CEO, told Karen Webster. Love: There’s An App For That.

Romance Scams 56

Romance Scams Scams Acquirers Payments 56

FICO

APRIL 29, 2022

Increasingly, the scams involve cryptocurrencies; The New York Times also recently investigating crypto romance scams in which victims are lured into paying criminals with fraudulent, and irrevocable, transfers into digital wallets. Consumers: Slow Down, You’re Moving Too Fast. by TJ Horan.

Retail Payments 52

Retail Payments Zelle Consumer Romance Scams 52

PYMNTS

OCTOBER 1, 2019

consumers lose more to romance-based fraud than any other type of scheme. The agency reported that more than 21,000 individuals were tricked into sending $143 million in romance scams in 2018 — triple the rate reported in 2015. The Federal Trade Commission (FTC) reports that U.S.

Romance Scams 62

Romance Scams Scams Federal Trade Commission FTC 62

Fintech Finance

APRIL 10, 2024

Deceptively simple, APP fraud involves a person being tricked into buying goods that don’t exist or sending a bank transfer to a fraudster posing as someone trustworthy. More complex and financially damaging types of APP fraud include romance scams. Both share a multitude of similarities with APP fraud.

AI 40

AI Romance Scams Fraud Prevention Scams 40

PYMNTS

NOVEMBER 6, 2019

Even the most aggressive fraud prevention efforts are often behind the times, so to speak – and that creates another vulnerability in the form of blind spots from which fraudsters can attack. consumers lose more to romance-based fraud than any other type of scheme. The Federal Trade Commission (FTC) reports that U.S.

Romance Scams 41

Romance Scams Account Takeovers Federal Trade Commission FTC 41

Seon

APRIL 18, 2024

Often, the fraudsters enter through impersonation, a romance scam or another type of social engineering fraud scam. Still, the result is the same: a victim-initiated money transfer resulting in money in an account owned by a fraudster.

Authorization 52

Authorization Technology Fraud Prevention Real Time Payments 52

FICO

MAY 9, 2023

To optimize fraud prevention efficacy, we need new specialized methods to guide AI models down the paths of meeting associated business objectives. In the UK alone, scams have accounted for more than £1.3 Scams can take many forms such as romance scams, CEO scams and impersonation of bank officials, to name just a few.

Scams 52

Scams AI Fraud Detection Romance Scams 52

The Fintech Times

MAY 22, 2024

. “Here, digital wallets, with their enhanced security through biometric authentication, could hold the key to helping reduce instances of fraud. In addition to this, it’s imperative the industry comes together to educate both consumers and merchants and bolster fraud prevention without impeding innovation.”

Scams 59

Scams Finance Push-to-Card Romance Scams 59

Neopay

MAY 28, 2024

There was a seven per cent increase in the amount of unauthorised fraud prevented, to £1.25 Victims of unauthorised fraud cases such as these are legally protected against losses. And UK Finance research indicates that customers are fully refunded in more than 98 per cent of unauthorised fraud cases.

Push-to-Card 52

Push-to-Card Scams Romance Scams Crime 52

FICO

JUNE 14, 2022

Innovative Customer Communications for Fraud. Detecting possible fraud is important, but what you do with that suspicion may matter even more. Taking the most strident fraud prevention actions might seem the intuitive answer but suspicion is often unfounded, and most customers are not fraudsters.

Bots 52

Bots Scams Financial Crimes Push-to-Card 52

The Payments Association

FEBRUARY 18, 2025

AI-driven fraud is evolving fastbanks must adopt adaptive AI models to detect and prevent scams in real-time. In the first half of 2024, criminals stole571million in the UK through unauthorised and authorised frauda stark reminder that existing fraud prevention methods are failing to keep pace.

AI 88

AI Romance Scams Fraud Prevention Scams 88

Fintech Finance

APRIL 29, 2025

Scam risks and responses vary by region, gender and age The data reveals how shame and silence around scams show up differently across gender, age, and region. Scammers win when victims stay silent Feelings of distrust and language surrounding scams are preventing many victims from speaking out.

Scams 65

Scams Research Fraud Prevention Romance Scams 65

The Fintech Times

APRIL 30, 2025

Only 36 per cent of respondents told their bank or financial institution they had been scammed and 22 per cent of respondents expressed a lack of confidence in the police or fraud prevention services ability to support them. “We know strong fraud controls are essential. However, theyre only part of the solution.

Scams 45

Scams Fraud Prevention Romance Scams Financial Crimes 45