The holiday shopping period compresses weeks of spending into days, multiplies the number of online interactions, and makes consumers and companies vulnerable to fraudsters. That anxiety is not theoretical. PYMNTS reported in early December that 78% of shoppers worry about a holiday fraud surge. When...
The Federal Trade Commission (FTC) says rental scams have cost consumers $65 million since 2020. That’s according to a new analysis from the FTC released Tuesday (Dec. 23), showing that consumers have reported almost 65,000 of these scams—many of which began with fake listings on...
Watch more: What’s Next in Payments Innovating and securing payments requires far more than a few well-placed tools. It takes systems, people and processes working in concert to authenticate identities, route transactions, evaluate risk and protect data at scale. At Maverick Payments, that orchestration forms...
If your house were robbed or your car vandalized, you wouldn’t hesitate to report the crime to the police. So why do so few victims of financial scams report the incidents to their financial institutions? Definitions of fraud are wide-ranging, but most center on scams...
Beyond the victims and the billions of dollars in losses, the rise of AI-driven fraud means banks, FinTechs and payment providers must think about risk, liability and real-time fund flows. Fraudsters are using the same intelligence tools that power modern commerce to increase the speed,...
A recent PYMNTS Intelligence report finds that retailers will enter this year’s peak shopping season defending themselves on more fronts than ever before. The report, Securing the Season: Fighting Fraud Without Losing Customers, outlines how the growth of holiday sales is being matched by the growth...
Watch more: Live roundtable Verification systems built for yesterday’s fraud no longer work in today’s threat landscape. While firms could once assume that criminals needed skill, capital and patience to mount sophisticated attacks on onboarding or identity systems, that old playbook has fallen out of sync...
Visa blocked 280% more suspected fraud attempts on Black Friday in the United Kingdom this year compared to last year and 140% more across Europe. Compared to the previous Friday (Nov. 21), the company blocked 63% more suspected fraud in the U.K. and 40% more...
The “2025 State of Fraud and Financial Crime in the United States” report, a PYMNTS Intelligence report commissioned by Block, reveals that the financial industry is navigating an increasingly sophisticated and dynamic threat landscape. The primary trend observed is a significant surge in unauthorized-party fraud,...