fraud

Fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. Fraud can violate civil law, a criminal law, or it may cause no loss of money, property or legal right but still be an element of another civil or criminal wrong.
Crypto Firms Fined $5.8 Billion in 2023 For Loose Financial Controls
Crypto Firms Fined $5.8 Billion in 2023 For Loose Financial Controls
January 09, 2024  |  Cryptocurrency

Cryptocurrency and FinTech companies were fined $5.8 billion in 2023 for lax financial controls. That figure marks the first time fines against these groups exceed...

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Visa Wants to Eliminate Friendly Fraud Without Alienating Honest Consumers 
Visa Wants to Eliminate Friendly Fraud Without Alienating Honest Consumers 
January 09, 2024  |  Fraud Prevention

Friendly fraud is a bit of a misnomer; first-party card misuse would be more accurate. That’s because, just like other types of fraud and cybercrime, friendly...

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The Impact Quantum-Powered AI Could Have on Payments 
The Impact Quantum-Powered AI Could Have on Payments 
January 08, 2024  |  Artificial Intelligence

The 21st century has seen an incredible progression of business capabilities from an innovation standpoint. Taking into account the recent commercialization of artificial intelligence (AI)...

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Instant Payments Speed Need for Fraud Prevention
Instant Payments Speed Need for Fraud Prevention
January 08, 2024  |  Opinion

PYMNTS asked industry executives across the payments and digital commerce landscape to give us their take on the pivotal shifts, technological advancements and strategies that...

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Beyond Faster Transfers: How Payment Modernization Shapes Customer Experiences
Beyond Faster Transfers: How Payment Modernization Shapes Customer Experiences
January 08, 2024  |  Payment Methods

The payments ecosystem remains a highly fragmented one as we enter the new year. On the one side, specialized platforms serve different use cases; on...

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Larger FIs More Likely to Use AI and ML to Fight Financial Crime
Larger FIs More Likely to Use AI and ML to Fight Financial Crime
January 08, 2024  |  Fraud Prevention

Financial institutions (FIs) are increasingly recognizing the importance of fraud-fighting technologies as they confront more sophisticated fraud and financial crimes. In fact, the surge in...

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NIST Says Defending AI Systems From Cyberattacks ‘Hasn’t Been Solved’
NIST Says Defending AI Systems From Cyberattacks ‘Hasn’t Been Solved’
January 05, 2024  |  Artificial Intelligence

New technologies bring with them new opportunities — and new threats. As we enter the new year, many eyes are on the transformative potential of...

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Network Tokenization and Digital Identities Are Quietly Transforming Payment Security
Network Tokenization and Digital Identities Are Quietly Transforming Payment Security
January 05, 2024  |  Payments Innovation

One innovation above all others dominated the headlines in 2023: artificial intelligence (AI). But while AI, particularly its impact on the payments landscape, captured public...

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New Realities of Global Compliance Demand a New Approach
New Realities of Global Compliance Demand a New Approach
January 04, 2024  |  Opinion

PYMNTS asked industry executives across the payments and digital commerce landscape to give us their take on the pivotal shifts, technological advancements and strategies that...

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