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.

AML/KYC: Obstacle or Opportunity for Banks and FinTechs

AML/KYC: Obstacle or Opportunity for Banks and FinTechs
AML/KYC: Obstacle or Opportunity for Banks and FinTechs
September 28, 2021  |  Bank Regulation

Regulatory agencies and financial institutions (FIs) agree on the importance of protecting the banking ecosystem from illicit activity and fraudulent users, but the methodology of...

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With 80% of Data Breaches Involving Passwords, Their Retirement Cannot Happen Soon Enough
With 80% of Data Breaches Involving Passwords, Their Retirement Cannot Happen Soon Enough
September 28, 2021  |  Security & Fraud

Passwords are, in a word, broken. We all know this — and yet we continue to use them almost reflexively. Get the Full Story Complete...

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SEC Charges Payday Lender Sky Group With $66M Fraud
SEC Charges Payday Lender Sky Group With $66M Fraud
September 27, 2021  |  Security & Fraud

The Securities and Exchange Commission (SEC) has accused a Miami-based payday loan company and its CEO of defrauding its investors. Get the Full Story Complete...

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Report: Data Security Concerns Keep Nearly Half of US Consumers From Switching to Digital Only Banks
Report: Data Security Concerns Keep Nearly Half of US Consumers From Switching to Digital Only...
September 27, 2021  |  Digital Banking

Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....

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Merchants Must Mind Fraud and Honor Consumer Needs Amid Rising RTP
Merchants Must Mind Fraud and Honor Consumer Needs Amid Rising RTP
September 24, 2021  |  Payment Methods

Merchant payments are racing toward a digital paradise. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...

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CFPB Data Shows Lower-Income Areas More Likely to File Complaints on Credit Reporting, ID Theft
CFPB Data Shows Lower-Income Areas More Likely to File Complaints on Credit Reporting, ID Theft
September 23, 2021  |  CFPB

Lower-income, mostly Black and Hispanic, communities were more likely to submit complaints to the Consumer Financial Protection Bureau (CFPB) about credit reporting, identity theft and...

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Airbnb’s Data Sharing, Rental ‘Blacklist’ Signal Drive to Secure Platforms 
Airbnb’s Data Sharing, Rental ‘Blacklist’ Signal Drive to Secure Platforms 
September 23, 2021  |  Fraud Prevention

The connected economy leads to the (data) sharing economy — which leads to a safer economy, for consumers and especially for platforms. Get the Full...

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UK Bank Lobby Group: Fraud Threatens National Security  
UK Bank Lobby Group: Fraud Threatens National Security  
September 22, 2021  |  Fraud Attack

Increasing incidents of fraud against online shoppers and digital banking newcomers across Britain since the start of the COVID-19 pandemic is “a national security threat”...

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In First-Ever Case, SEC Charges Crowdfunding Site With Allegedly Selling Unregistered Securities
In First-Ever Case, SEC Charges Crowdfunding Site With Allegedly Selling Unregistered Securities
September 21, 2021  |  Legal

The Securities and Exchange Commission (SEC) has charged three people along with an issuer with conducting a fraud scheme to sell almost $2 million in...

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