While most consumers have yet to purchase or use cryptocurrencies, they are interested in and aware of crypto, setting the stage for near-term growth as technologies supporting cryptocurrency transactions continue to mature. Some consumers see cryptocurrencies as a promising new investment asset that could even...
Infamously heartless hackers and fraudsters are sinking to new lows in recent months by extreme targeting of hopeful job seekers on LinkedIn and other job sites, with scam offers that end in theft of sensitive information, professional services or compromise of corporate IT. A Thursday...
The Financial Crimes Enforcement Network (FinCEN) announced Wednesday (March 16) that it will be supporting the Russian Elites, Proxies and Oligarchs (REPO) Task Force, which is trying to crack down on illicit actors accessing international finance. FinCen will be supporting the Treasury’s efforts on boosting...
While companies and governments have spent billions to prevent fraud, cybercrime continues to plague businesses of every size. One recent survey found that 67% of companies fell victim to external fraud in the last 12 months, with 42% saying the fraud cost them up to...
Global real-time payments software firm ACI Worldwide is introducing a fraud scoring platform powered by machine learning to deliver real-time security and fraud prevention to financial institutions (FIs) of every size, according to a press release on Wednesday (March 9). ACI Fraud Scoring Services (FSS)...
Credit card fraud is a pressing issue for consumers, merchants, banks and card providers, costing a total of $32 billion in 2021 alone. This number is expected to swell to $38.5 billion by 2027, primarily fueled by an increased reliance on online shopping. Fraudsters perpetrating schemes online can...
The first iteration of 3D Secure was hailed as a online fraud game-changer, but its effectiveness came at the cost of consumer convenience — and, ultimately, conversion. In the Digital Fraud Tracker, American Express’ JJ Kieley explains how the overhauled 3D Secure 2.0 system will...
Credit card fraud is a problem that affects banks, merchants, credit card providers and individual consumers all at once, as fraudsters deploy a wide variety of different tactics to pay for goods and services or drain customer accounts of funds and data. Card providers have...
The Financial Conduct Authority (FCA) on Thursday (March 3) announced it will take “assertive action to tackle harm in the consumer investments market” and is urging consumers across the U.K. to beware of investment-related scams after seeing a steady increase in such claims last year....