PYMNTS Intelligence data has detailed the continuing appeal of debit cards as preference for everyday spending, prized for convenience and as a way to spend cash on hand, rather than tapping credit (and adding to monthly debt burdens). The data show that individuals are 67%...
Fraud and money laundering prevention provider Hawk has raised $56 million in new funding. The Germany-based company says its Series C round, announced Tuesday (April 8), will help it finance further product innovation and fuel expansion efforts, especially in the U.S. “Hawk enables banks to...
Witnesses from the ranks of business and banking told lawmakers that efforts to fight payment and investment scams must be aided by a “whole government” approach, along with fine-tuning of suspicious activity reporting — in addition to a repeal of the Corporate Transparency Act. Tuesday, (April...
British banks, tech companies and telecoms are reportedly pledging to increase their data-sharing on fraud. This pledge, as the Financial Times (FT) reported Monday (March 31), comes as the U.K. government is facing calls to show more leadership in helping fight online scammers. According to the report,...
Auto lenders face an emerging threat from artificial intelligence (AI)-powered fraud tools, according to Point Predictive. The “explosive growth” of these tools may impact lenders in 2025 and beyond, the provider of AI solutions for consumer lending said in a Tuesday (March 25) press release....
America’s banks are under siege, and the enemy is invisible. Authentication-based fraud is skyrocketing, leaving financial institutions scrambling to fight back against an epidemic of stolen identities, hacked passwords and unauthorized transactions. These are just some of the findings detailed in “To Stamp Out Authentication-Based...
Faster payments means faster fraud, at least that’s the fear. FedNow® Service’s debut a year and a half ago, and traction gaining across The Clearing House’s RTP network (which recently crossed the 1 billion transaction mark) have given consumers and enterprises a broadening range of...
Visa says its new anti-fraud disruption department saved potential victims $350 million last year. The company’s scam disruption practice, announced Tuesday (March 11), part of Visa’s Payment Ecosystem Risk and Control (PERC), which itself blocked $40 billion in attempted fraud in 2024. “Visa has invested...
The payments landscape is more sophisticated than ever, but so are fraudsters. With financial institutions (FIs) deploying artificial intelligence (AI), machine learning (ML) and other cutting-edge technologies to secure transactions, cybercriminals are increasingly finding that the easiest way in is through the weakest link: people....