The U.S. Department of Justice (DOJ) and the Federal Trade Commission (FTC) are cracking down on scams known as credit card laundering or transaction laundering, according to The Wall Street Journal (WSJ). Get the Full Story Complete the form to unlock this article and enjoy...
First American Title, one of the largest providers of title insurance in the U.S., is facing allegations that it exposed the personal data of millions of its customers. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...
Three former top executives of Wirecard AG were arrested Wednesday (July 22) as prosecutors allege they were part of a criminal enterprise to steal billions from creditors based on fake accounts, Reuters reported. Get the Full Story Complete the form to unlock this article and...
Who doesn’t love fast money? But here’s the thing: Velocity adds risk in a complex equation, which includes everything from account opening to transacting across various rails and platforms. Global identity verification with a focus on better remote onboarding may be the answer. Get the...
Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. But to beat highly organized fraudsters at their own game, financial institutions (FIs) must band together to build an ironclad defense, says Chris Tremont,...
The Federal Trade Commission (FTC) testified before the Senate Commerce Subcommittee on Manufacturing, Trade and Consumer Protection on Tuesday (July 21), detailing its efforts to combat coronavirus-related fraud, including sending warning letters and trying to educate customers on how to spot a scam, according to...
Wirecard AG, the German payments company fighting for survival, has hired a forensic team to investigate the accounting scandal that led to its insolvency, sources told Reuters. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
Cybercrime is a constant concern for banks, credit unions and other financial institutions (FIs), with more than 25 percent of all malware attacks targeting the financial industry specifically. Compromised credit card fraud increased 212 percent year over year in 2019, while customer credential leaks increased...
Some recently unemployed Americans who have attempted to file for jobless benefits are encountering a nasty shock: They’ve been robbed by canaries. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional...
