FICO

MARCH 8, 2021

This year the Internal Revenue Service (IRS) will start accepting 2020 tax returns on February 12 , about two weeks later than usual. That’s positive news—because you definitely want to file your tax return as soon as possible, particularly if you’re claiming a refund. Why is that important? How do fraudsters commit tax refund fraud?

Tax Refunds 52

Tax Refunds Identity Theft IRS Returns 52

PYMNTS

FEBRUARY 26, 2020

Following a five-day trial in the Western District of Washington, Kvashuk was convicted of five counts of wire fraud, six counts of money laundering, two counts of aggravated identity theft, two counts of filing false tax returns, and one count each of mail fraud, access device fraud, and access to a protected computer in furtherance of fraud.

IRS 82

IRS Identity Theft Crime Digital Currency 82

PYMNTS

NOVEMBER 21, 2016

identity theft protection services company LifeLock Inc for $2.3 This acquisition brings $660 million in revenue to the consumer business and returns it to longer sustainable growth,” Symantec Chief Executive Greg Clark said in an interview. Big buys this week to start out the news.

Identity Theft 62

Identity Theft Acquirers Returns Governance 62

Clearly Payments

JULY 16, 2024

Medical Identity Theft: Fraudsters use stolen patient information to obtain medical services, prescriptions, or insurance reimbursements. million cases of medical identity theft, resulting in $41 billion in losses. Return fraud costs e-commerce merchants $24 billion annually, accounting for 8% of total returns.

Risk 52

Risk Identity Theft Phishing Account Takeovers 52

PYMNTS

JUNE 14, 2018

Identity theft is an unfortunately reality for more consumers as data breaches continue to rock the market. Research from Auriemma Consulting Group estimates that identity theft has cost banks at least $6 billion, and cost consumers $58.9 But individual consumers aren’t the only victims of identity theft.

Identity Theft 43

Identity Theft Wire Transfer Crime Email Compromise 43

PYMNTS

APRIL 6, 2020

In addition, the company will provide free identity protection in recognition of the increased time everyone has had to spend online due to social distancing protocols put in place to curb the spread of the coronavirus.

Returns 52

Returns Identity Theft Online and Mobile Banking Credit Cards 52

Fi911

JULY 8, 2024

This type of fraud can take various forms, including identity theft, chargeback fraud, and phishing attacks. Return Fraud Return fraud occurs when individuals exploit a retailer’s return policy to obtain refunds or store credits for items that were not purchased from the retailer or that were purchased fraudulently.

Account Takeovers 105

Account Takeovers Fraud Detection Phishing Fraud Prevention 105

The Payments Association

JUNE 11, 2025

45% of shoppers in the UK have admitted to return fraud or policy abuse, representing an estimated £22.8 billion in return-based fraud in 2022. This highlights the UK’s position as both victim and vector in global fraud operations, creating additional compliance and reputational challenges for legitimate platforms.

Risk 88

Risk Fraud Prevention Fraud Detection Payment APIs and Integration 88

Fi911

JULY 19, 2024

It includes fraudulent transactions, account takeover, and identity theft. The genuine reasons behind some disputes, such as regret after purchase, fraud committed by family members, or items that can no longer be returned, do not qualify as valid reasons for chargebacks and thus, have no specific code.

Disputes 104

Disputes Duplicate Non-Bank Authorization 104

PYMNTS

MAY 21, 2020

Identity theft is also a constant fraud threat, with the Federal Trade Commission (FTC) stating that more than 650,57o cases of identity theft were reported in 2019. million total fraud incidents last year, and also set a new record for the highest amount of identity theft cases in any year in history.

Financial Crimes 52

Financial Crimes Crime Identity Theft Federal Trade Commission 52

Fi911

MARCH 26, 2024

This effectively minimizes the risk of fraud and identity theft, providing peace of mind for both consumers and merchants. Furthermore, tokenization enables efficient checkouts for returning customers, leading to reduced declines and increased loyalty.

PCI DSS 106

PCI DSS Encryption Origination Data Security 106

PYMNTS

SEPTEMBER 13, 2016

He is a noted industry expert in online fraud, cybercrime, identity theft, information security and networking technology and holds several patents in security, fraud and networking. Prior to ThreatMetrix, he was founder and Chief Products Officer at NetPriva (now part of Riverbed).

Identity Theft 76

Identity Theft Cross-Border Best Practices Advisors 76

The Fintech Times

AUGUST 17, 2024

Consequently, these will be observed for both new and returning users throughout the customer lifecycle. Robert Boxberger, president of Experian’s North American identity and fraud business “Our acquisition of NeuroID highlights our commitment to provide our clients with world-class data, analytics and insights to prevent fraud.

Risk 59

Risk Bots Fraud Detection Identity Theft 59

The Fintech Times

JULY 10, 2024

With physical signing processes sometimes taking days, our customers can now cut this to mere seconds with InstantSign, by foregoing the printing, signing and return process of a hard copy contract. . “InstantSign has been proven to reduce drop-offs and accelerate contract completion.

Security 64

Security Verification Identity Theft AML 64

Finextra

JUNE 26, 2025

This type of fraud can lead to financial losses, identity theft, and reputational damage for both individuals and organizations. Refund abuse False claims for refunds by consumers: Also known as return abuse, refund abuse is when a customer requests and receives a refund for a purchase they claim was incomplete or unsatisfactory.

Stablecoins 52

Stablecoins Payment APIs and Integration Fraud Prevention Cross-Border 52

The Paypers

FEBRUARY 14, 2019

(The Paypers) The IRS has planned to expand its voluntary program for taxpayers who wish to obtain IP PINs and are not currently victims of tax return identity theft.

IRS 28

IRS Identity Theft Returns 28

Finextra

JUNE 26, 2025

This type of fraud can lead to financial losses, identity theft, and reputational damage for both individuals and organizations. Refund abuse False claims for refunds by consumers: Also known as return abuse, refund abuse is when a customer requests and receives a refund for a purchase they claim was incomplete or unsatisfactory.

Stablecoins 52

Stablecoins Payment APIs and Integration Cross-Border Account Takeovers 52

PYMNTS

OCTOBER 12, 2020

Credit card fraud and identity theft volumes have both ballooned in recent months, and fraudsters have targeted in-store pickup as well, shooting fraud attempts up by 55 percent, according to one report.

Automation 79

Automation Fraud Prevention Identity Theft On-Demand 79

Innovative Payments Association

JUNE 26, 2024

The bank conducted a brief investigation and returned her money. Identity Theft: Scammers steal seniors' personal information to open accounts or make purchases in their name. Investment Scams: Seniors are often targeted with fake investment opportunities promising high returns. My mother was lucky and fortunate.

Scams 52

Scams Federal Trade Commission Identity Theft Law Enforcement 52

PYMNTS

SEPTEMBER 6, 2019

But platforms that use weak ID techniques to sign on new users and log in returning ones can also erode trust. Verifying Digital Identity In The Sharing Economy , PYMNTS examines how consumers use sharing economy platforms in their everyday lives and how those platforms are taking measures to defend against digital fraud and identity theft.

Authentication 50

Authentication Economy Security Identity Theft 50

PYMNTS

JUNE 20, 2016

This shows this isn’t about identity theft, drugs, crime or ISIS; it’s just another method to take innocent people’s property.” “In its response to DPS, the ERAD Group said it could not provide the individual bank records DPS wanted. . “Now, we see they were trying to get that type of information.

Accounts 40

Accounts Identity Theft Law Enforcement Crime 40

PYMNTS

SEPTEMBER 18, 2018

The federal agency said it shut down websites where consumers could buy “fake financial and other documents – such as pay stubs, income tax forms, and medical statements – which can be used to facilitate identity theft, tax fraud, and other crimes,” according to an FTC statement.

FTC 53

FTC Fed Federal Trade Commission Identity Theft 53

PYMNTS

OCTOBER 12, 2018

It’s an issue Barnhardt has seen many times with GIACT partners, and is often triggered when a lot of returned payments are discovered. If those issues aren’t handled well, he noted, then problems will happen. And if that isn’t buttoned up, fraudulent payments will happen time and time again,” he said. What’s Next.

Faster Payments 73

Faster Payments Authentication Payments Enrollments 73

PYMNTS

AUGUST 20, 2019

Despite their popularity, platforms use weak identity verification and authentication techniques to sign on new users and login returning ones, which puts consumers data and digital identity at risk. So, we know consumers’ verification and authentication preferences. The short answer is, no.

Economy 64

Economy Consumer Authentication Verification 64

PYMNTS

MARCH 6, 2017

In 2016, there were 1,093 data breaches according to the Identity Theft Resource Center – a 40% increase over the 2015 data breach number of 781. PCI P2PE Return on Investment. Types of Available PCI P2PE Solutions – Processor, Stand-Alone and Integrated. PCI P2PE Scope Reduction and Assessments. EST. Host: Karen Webster.

Data Breach 47

Data Breach Third Party Vendors Encryption Breach 47

The Fintech Times

JANUARY 17, 2024

When asked what kinds of fraud they were the victims of, the most common responses were: Credit card fraud (59 per cent) Identity theft and phishing (21 per cent) Employment scams (12 per cent) Investment fraud (10 per cent) “Millennials have embraced digital payments and mobile banking, which dominate how we access banking services today.

AI 59

AI Financial Crimes Crime Security 59

Stax

JANUARY 28, 2025

The checkout system may even be designed to recognize trusted devices used by return customers, which can help the user skip part of the authentication process for an even faster checkout.

Payment APIs and Integration 68

Payment APIs and Integration Online and Mobile Banking Payment Gateways Gateways 68

Finovate

AUGUST 14, 2024

Digital identity verification innovator Socure has unveiled its Selfie Reverification solution. The new capability provides a way to validate return consumers online in less than two seconds with just a selfie. Here are a trio of stories highlighting the latest efforts by fintechs to combat financial crime.

Credential 65

Credential FinTech Deepfake Fraud Detection 65

PYMNTS

AUGUST 24, 2016

million in revenue with 59 employees, and the sale provided a hefty return for investors. ID Experts responds to data breaches and provides identity protection services to organizations and individuals. It defends against hacking and identity theft by monitoring for unusual activity. In 2014, ID Experts reported $22.8

Cybersecurity 40

Cybersecurity Data Breach Identity Theft Breach 40

Clearly Payments

JANUARY 8, 2024

This can include stolen credit card information, identity theft, or fraudulent transactions. Clearly communicated policies on refunds, cancellations, and returns can reduce the likelihood of misunderstandings and subsequent chargebacks. Excessive chargebacks can lead to financial losses and damage a merchant’s reputation.

Risk Management 97

Risk Management Risk PCI DSS Process 97

FICO

MAY 19, 2021

In this scheme, criminal gangs have zeroed in on out-of-country students to buy their identity credentials and bank accounts as they leave to return to their home countries. There are many potential victims, as only 10% of foreign students stay in their country of study, with 90% returning to their home countries.

Cross-Border 52

Cross-Border Crime Money Laundering Credential 52

National Merchants Association

AUGUST 5, 2022

According to the Federal Trade Commission (FTC), credit card fraud is the second-most prevalent type of identity theft. Their social media connections give you a low-cost, high-return approach to advertising. The FTC received more than 88,000 credit card fraud reports in 2021. Encourage your customers to share their purchases.

Credit Cards 52

Credit Cards Federal Trade Commission FTC Point-of-Sale (POS) 52

National Merchants Association

AUGUST 5, 2022

According to the Federal Trade Commission (FTC), credit card fraud is the second-most prevalent type of identity theft. Their social media connections give you a low-cost, high-return approach to advertising. The FTC received more than 88,000 credit card fraud reports in 2021. Encourage your customers to share their purchases.

Transactions 52

Transactions Credit Cards Federal Trade Commission FTC 52

National Merchants Association

AUGUST 5, 2022

According to the Federal Trade Commission (FTC), credit card fraud is the second-most prevalent type of identity theft. Their social media connections give you a low-cost, high-return approach to advertising. The FTC received more than 88,000 credit card fraud reports in 2021. Encourage your customers to share their purchases.

Transactions 52

Transactions Credit Cards Federal Trade Commission FTC 52

National Merchants Association

AUGUST 5, 2022

According to the Federal Trade Commission (FTC), credit card fraud is the second-most prevalent type of identity theft. Their social media connections give you a low-cost, high-return approach to advertising. The FTC received more than 88,000 credit card fraud reports in 2021. Encourage your customers to share their purchases.

Credit Cards 52

Credit Cards Federal Trade Commission FTC Point-of-Sale (POS) 52

FICO

MAY 19, 2021

In this scheme, criminal gangs have zeroed in on out-of-country students to buy their identity credentials and bank accounts as they leave to return to their home countries. There are many potential victims, as only 10% of foreign students stay in their country of study, with 90% returning to their home countries.

Cross-Border 52

Cross-Border Crime Credential Money Laundering 52

Nanonets

JANUARY 29, 2024

Unauthorized transactions, fraud, or theft: Credit cards are the number one reason for losses due to theft and fraud. Unauthorized transactions can be made due to identity theft. Return to the reconciliation page, and in the top right corner, select “summary.”

Reconciliation 52

Reconciliation Credit Cards Duplicate Automation 52