The U.K. Payment Systems Regulators (PSR) announced on Tuesday (May 24) that it will need to delay an important deadline for companies to comply with new requirements to fight authorized push payment (APP) fraud. However, the regulator is planning to expand the number of companies...
New York authorities are saying they’ve taken down an organized shopping ring that was stealing high-end items and reaping “millions of dollars,” Financial Times reported Thursday (May 26). The thefts were “contributing to an atmosphere of lawlessness that has unsettled the city.” There were 41...
Scammers are hijacking Twitter accounts to promote questionable cryptocurrency platforms that let them compromise their victim’s information. That’s according to Bloomberg News, which reported Thursday (May 26) that the scammers have been impersonating reporters, crypto apps and a number of nonfungible token (NFT) projects since...
The best fraud prevention goes on in the background — stopping the bad actors, quietly, while enhancing the customer experience. Jason Paguandas, vice president of fraud mitigation and strategy at Canadian payment and value exchange service provider Interac, told PYMNTS that artificial intelligence (AI) can...
Long live the digital transformation — given that it’s secure. Ignoring stock market gyrations and macroeconomics, the fact is that we are far from finished applying new digital approaches to solving intractable payments problems, namely fraud. Money mobility, for example, is dogged at every step...
The best way for enterprises to battle frauds, bot attacks, synthetic ID attacks … … is to treat it all like a game. A war game. Raj Seshadri, president of data and service at Mastercard told Karen Webster that the battle against real world threats...
Tovera, which fights online fraud, has rolled out a new platform to combat NFT fraud, a press release said Thursday (May 19). Called FNFTF.io (Fight NFT Fraud), it will give creators, markets and collectors ways to identify fraudulent content using indexing and matching. So far...
The Federal Trade Commission announced Thursday (May 19) that it will mail 690,000 checks, amounting to over $152 million, to customers who were defrauded by a payday lending fraud scheme run by AMG Services and the company’s owner, Scott Tucker. This will be happening through...
The pandemic has significantly changed consumer behavior and preferences, pushing banks to upgrade their processes to meet these shifting demands. Schalk Nolte, CEO at authentication firm Entersekt, told PYMNTS in an interview that pre- and post-pandemic, there has been a distinct shift towards consumers transacting...
