Security & Fraud

FinTechs Seek Fraud Guarantees on Incoming Deposits to Attract, Retain Customers
Security & Fraud
FinTechs Seek Fraud Guarantees on Incoming Deposits to Attract, Retain Customers
July 20, 2022

For banks and for the FinTechs, the first moments of engagement are among the most critical. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily...

Competitors Become Collaborators in Fight Against Financial Crime
Security & Fraud
Competitors Become Collaborators in Fight Against Financial Crime
July 20, 2022

In financial services, the greater the surface area, the greater the chance the fraudsters will strike — and be successful. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....

Banks’ Increased Liabilities on P2P Fraud May Have Silver Lining
Security & Fraud
Banks’ Increased Liabilities on P2P Fraud May Have Silver Lining
July 19, 2022

Call it a reset on how the Consumer Financial Protection Bureau (CFPB) views authorized P2P fraud — and by extension, just who’s on the hook to make consumers whole. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...

FBI Warns Fake Crypto Apps Robbed Investors of Millions
Security & Fraud
FBI Warns Fake Crypto Apps Robbed Investors of Millions
July 19, 2022

The FBI is warning investors and financial institutions (FIs) that fraudulent cryptocurrency apps tricked 244 victims out of $42.7 million between October 2021 and May 2022. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS...

FBI: Businesses Lose $43B to Email Fraud
Security & Fraud
FBI: Businesses Lose $43B to Email Fraud
July 13, 2022

Fraudsters have an extensive arsenal of methods when it comes to scamming businesses. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today....

Should Banks Be Liable for Unauthorized Push Payments Fraud?
Security & Fraud
Should Banks Be Liable for Unauthorized Push Payments Fraud?
July 12, 2022

“Caveat emptor,” goes the old saying — buyer beware. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this form,...

AI Helps Banks Protect Small Businesses as They Become More Digital
Security & Fraud
AI Helps Banks Protect Small Businesses as They Become More Digital
July 11, 2022

Digitization of small- to medium-sized business (SMB) banking is a double-edged sword. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By...

Report Alleges Wirecard Forged Client Data to Obtain €900M SoftBank Investment
Security & Fraud
Report Alleges Wirecard Forged Client Data to Obtain €900M SoftBank Investment
July 10, 2022

Once-mighty payments giant Wirecard reportedly faked client data and was lying about internal records in order to get a SoftBank investment for €900 million ($913 million), a report from Financial Times (FT) says. Get the Full Story Complete the form to unlock this article and...

Cybersecurity Firms Challenge ‘Professional Fraudsters’ With Customer-Friendly Protections
Security & Fraud
Cybersecurity Firms Challenge ‘Professional Fraudsters’ With Customer-Friendly Protections
July 08, 2022

Is “fraudster” a title or job description of some kind? Perhaps it should be, because when shopping or sending money online, you’re never totally sure who’s on the other end. It could be someone you know — or it could be a bad actor who...