Tal Yeshanov, head of risk and strategic financial operations at Plastiq, said the term “friendly fraud” is a pleasant way of masking over a growing problem that’s causing real pain for merchants, issuers and acquirers. Get the Full Story Complete the form to unlock this...
The U.K. is experiencing a widespread “epidemic” of payments fraud, in which scammers trick victims into sending money into fraudsters’ accounts, the Financial Times reported Wednesday (June 29). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...
A class-action lawsuit launched against banking giant Wells Fargo and digital payments network Zelle was dropped, Law360 reported. 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...
“If you’re not on your game and protecting your customers,” Tom Shell, vice president of business development and solutions engineering at DataVisor, told PYMNTS, “the switching cost is just not very high” and could lead to lost business. Get the Full Story Complete the form...
Banco Santander is warning customers in the United Kingdom that celebrity-endorsed cryptocurrency scams are on track to nearly double this year. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins...
Harmony’s Horizon bridge was exploited for $100 million, making three major bridge hacks this year and exposing a central weakness in the digital-asset nexus, according to multiple reports. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...
Paper checks, credit cards, bank accounts — all have been favored targets of fraudsters over the years. Enter buy now, pay later (BNPL), the latest payment form shadowed by cybercrooks. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
It’s a scary fact, but anti-fraud experts agree that cybertheft rings are now well-funded multinationals with revenue goals of their own. Even worse, they now have our personally identifiable information (PII) and are using it to open fake accounts, decimating online trust. Get the Full...
The U.S. Federal Trade Commission announced Tuesday (June 21) that it is sending 7,731 checks totaling more than $9.7 million to small businesses hurt by Yellowstone Capital, a merchant cash advance company the government said withdrew money from customers’ accounts without permission. Get the Full...
