Paper checks, credit cards, bank accounts — all have been favored targets of fraudsters over the years. Enter buy now, pay later (BNPL), the latest payment form shadowed by cybercrooks. With the meteoric growth and staggering popularity of point-of-sale (POS) credit comes the inevitable wave...
It’s a scary fact, but anti-fraud experts agree that cybertheft rings are now well-funded multinationals with revenue goals of their own. Even worse, they now have our personally identifiable information (PII) and are using it to open fake accounts, decimating online trust. Compounded by the...
The U.S. Federal Trade Commission announced Tuesday (June 21) that it is sending 7,731 checks totaling more than $9.7 million to small businesses hurt by Yellowstone Capital, a merchant cash advance company the government said withdrew money from customers’ accounts without permission. Business deemed eligible...
First-party misuse — known as “friendly” fraud — can be difficult to detect, and reducing it is a delicate matter of telling true policy abusers apart from innocent parties. Either way, it ends in chargebacks, extra costs and missing merchandise for merchants eating these losses....
Fraud prevention platforms are fine-tuning as the dust of the great digital shift settles, and a prime revelation from this activity is that stopping fraud and knowing your customer often go together, helping merchants prevent cyber theft and deepen consumer bonds. In a conversation with...
Banking services provider LHV UK is fighting authorized push payment (APP) fraud with the integration of the Confirmation of Payee (CoP) service, now live for all its direct clients. A fraud prevention system led by Pay.UK and powered by open banking, CoP is a fraud...
No matter what form it takes, risk is inherent in money mobility, since delivering instant or near-instant payments to multiple endpoints in a range of currencies means making your way through red tape of all sorts — including compliance and security issues — as efficiently...
In an effort to combat fraud in advertising, Google has expanded its verification program for financial services advertisers to new countries and markets. “This measure creates a new layer of security against fraudsters and will help further safeguard our network from financial scams,” the search...
The Department of Justice (DOJ) released a report Monday (June 6) that urged the U.S. to strengthen its coordination with other nations to investigate and combat crimes involving digital assets. DOJ´s report comes in response to President Joe Biden´s executive order issued in March to...
