Security & Fraud

Security & Fraud
Visa’s ‘Compelling Evidence 3.0’ Battles Friendly Fraud
December 02, 2022

Friendly fraud. First-person fraud. Call it what you will — maybe “mistaken fraud.” For many merchants, purchase disputes and chargebacks are an unfortunate cost of business, one that’s been on the rise amid the great digital shift. Illegitimate chargebacks — aka friendly fraud — occur...

Security & Fraud
Why Fraudsters Are Big Fans of Real-Time Payments
November 30, 2022

Real-time data. Online social networks. Real-time payments. For the fraudsters, it’s all a match made in heaven. As DataVisor CEO Yinglian Xie told PYMNTS’ Karen Webster criminals are proving adept at data sharing in organized ways — and their schemes are proving more lucrative than...

Security & Fraud
PSCU Adds New Level to Fraud Services Tool
November 28, 2022

Payments credit union service organization (CUSO) PSCU is now offering its enhanced fraud services in two varieties — consulting and monitoring — to enable credit unions to pick the service level that meets their needs.  The new monitoring option includes select features from the full...

Security & Fraud
Calls For Regulation Intensify as UK Crypto Scams Jump 45%
November 23, 2022

From trading at less than a dollar in its first few years of existence to over $60,000 in late 2021, the story of bitcoin’s meteoric rise has often been used by scam artists as bait for inexperienced investors looking to make huge gains in the...

Security & Fraud
Impersonation Scams on the Rise Ahead of Holidays Prompting Response From Watchdogs
November 22, 2022

‘Tis the season to be … wary. The holiday weeks mean fewer days in the office — online or onsite. Staffers embark on their usual round-robins of vacation. We’re all browsing sites and stores in search of the best deals on, well … everything. In...

Security & Fraud
‘Imposter Calls’ Top FTC Complaint List
November 22, 2022

You pick up the phone and hear a recorded message, purporting to be from the IRS. For a moment, you’re worried, but eventually, you think “This seems like a scam.” That’s because it is a scam, and if you’ve received a call like that, you’re...

Security & Fraud
NMI, Kount Team on ISV and Merchant Fraud Prevention
November 21, 2022

Payments platform NMI is collaborating with digital identity firm Kount, an Equifax company, to provide independent software vendors, independent sales organizations and merchant partners with enhanced fraud protection.  With this partnership, users of the NMI Advanced Fraud Prevention solution will be able to add Kount’s...

Security & Fraud
FBI Charges Investment Manager in $10M Crypto Ponzi Scheme
November 20, 2022

Federal authorities have charged an Ohio man with taking part in a fraudulent cryptocurrency investment scheme that raised at least $10 million from investors. According to a news release from the U.S. Justice Department, Rathnakishore Giri, 27, is accused of misleading investors by falsely claiming...

Security & Fraud
Rising Deposit Fraud Disrupts FinTechs’ Customer Experience and Vibe 
November 18, 2022

Fraud is top of mind in tech — especially in payments — and not just because of the collapse of crypto trading firm FTX. FinTechs promise to disrupt traditional financial services and through digital conduits at scale, also seek to speed up money movement, in...