Fraud budgets are moving in two different directions. Fifty-one percent of global eCommerce merchants expect spending on fraud-management staff to remain flat or decline, while 63% plan to increase investment in fraud-management technology. The numbers frame fraud orchestration as an operating-efficiency question as well as...
A payment request can look perfectly ordinary until someone checks the bank account. By then, the finance team may be one click away from sending money to a fraudster. “Prevention First: Building a Smarter Defense Against Payments Fraud” is a PYMNTS Intelligence report produced in collaboration...
The House approved legislation Tuesday (Sept. 15) aimed at giving state and local law enforcement more resources to investigate sophisticated financial scams targeting older consumers in the United States. Among the primary targets of the measure are so-called pig butchering schemes based on cryptocurrency. The...
Card theft and account breaches remain major threats, but some of today’s fastest-growing fraud schemes begin earlier by targeting identity itself. Criminals increasingly use artificial intelligence to build false identities and mimic real voices and faces well enough to slip past existing checks. That leaves...
Fraud prevention is no longer a cost center, and for many firms, has become an investment with a measurable return. “Payment Protection: Why Firms Still Aren’t Real-Time Ready,” a PYMNTS Intelligence report produced in collaboration with Plaid, finds that companies modernizing payments report lower fraud...
Businesses may be able to strengthen their fraud defenses by putting the bank connections they already have to fuller use. The PYMNTS Intelligence report “Payment Protection: Why Firms Still Aren’t Real-Time Ready” found in August that nearly all firms have secure access to customer bank...
Banks often don’t see a fraud scheme until money has left the account, and then it’s too late. A stolen check, compromised card or banking credential may already have circulated among criminals, giving fraud teams little time to intervene. As payments move faster and fraudsters...
Merchants may have more revenue to gain from approving good customers than from tightening fraud controls another turn. That opportunity runs through “The Performance Gap: Why Every Transaction Is a Growth Opportunity,” the August edition of the “Optimizing Payments Tracker® Series.” The report finds that...
Visa has introduced new tools to help banks prevent account-to-account (A2A) fraud. The payments giant on Tuesday (Sept. 1) debuted an enhanced version of its A2A project, designed to offer real-time risk insights that help banks stop A2A fraud before funds leave customer accounts. “Fraudsters...