Financial crime compliance technology specialist Napier announced Wednesday (May 18) that it has added two new hires to its growing team in North America. According to a company news release, Napier has named Shana Leyva as its head of marketing and Danielle Labarbera as head...
The U.K. Payment System Regulator (PSR) is continuing its fight against authorized push payment (APP) fraud. New rules and legislation will provide the regulator with more tools to reduce fraud and to demand compensation from banks. APP scams occur when individuals and businesses are tricked...
The U.S. Department of the Treasury issued its strategy for fighting illicit financing Friday (May 13), highlighting measures designed to make the financial system more transparent. According to a department press release, the 2022 National Strategy for Combatting Terrorist and Other Illicit Financing is meant...
With more work being done and services being provided via the cloud, identity has become increasingly important. For one thing, organizations must enable customers to register and log in to their customer-facing applications in a frictionless way. They need to provide simple, seamless interactions while...
Mining Capital Coin CEO and founder Luiz Capuci Jr. was indicted for allegedly masterminding a $62 million global investment fraud scheme through his purported cryptocurrency mining and investment platform, the U.S. Department of Justice announced Friday (May 6). “Cryptocurrency-based fraud undermines financial markets worldwide as...
Most consumers don’t think about eCommerce fraud. Until they become victims. Eric Christensen, chief payments officer/vice president of product at Digital River, told PYMNTS that for financial institutions (FIs) and merchants serving those consumers, the growth in eCommerce has brought more opportunities for online fraud....
Stripe, the financial infrastructure platform, will help businesses set up direct connections with customers’ bank accounts, a press release says, letting them set up various financial processes. With its new program, Stripe Financial Connections, customers can verify accounts for various payments and payouts, check balances...
There’s a fundamental vulnerability within the great digital shift, amid the contactless payments, the digital wallets, the new and mobile ways in which we pay: Sensitive account information — who you are, where you live, the data that makes you, well, you — travels right...
The fraudsters get sophisticated, and the schemes get faster and evolve with a fluidity that’s breathtaking. Need proof? In the last year, $50 billion was lost to identity theft and bank fraud. The banks, then, have to step things up a bit — to augment...
