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.
State of the Payment Scam: Banks Battling APP Fraud
State of the Payment Scam: Banks Battling APP Fraud
March 13, 2024  |  Security & Fraud

The world’s cybercriminals all share one thing in common: they understand people can be exploited. After all, people make mistakes. They fall for scams, and...

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FTC Refunds $4.1 Million to Student Loan Scam Victims
FTC Refunds $4.1 Million to Student Loan Scam Victims
March 13, 2024  |  Security & Fraud

The FTC is sending millions in refunds to victims of a student fraud scheme. The $4.1 million payments will go to some 27,000 consumers who were duped by a...

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Report: White House Urges UnitedHealth to Accelerate Payments to Providers
Report: White House Urges UnitedHealth to Accelerate Payments to Providers
March 12, 2024  |  Healthcare

White House officials reportedly met with UnitedHealth Group CEO Andrew Witty and other health insurers to urge them to accelerate their payments to healthcare providers. During the remote meeting,...

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UK Wants to Turn Faster Payments Into Four-Day Payments
UK Wants to Turn Faster Payments Into Four-Day Payments
March 12, 2024  |  Fraud Prevention

When it comes to innovation, the United Kingdom can find itself on a literal island. And the kingdom’s latest regulatory push, one that is targeting...

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UK Publishes Draft Legislation to Combat Authorized Push Payment Fraud
UK Publishes Draft Legislation to Combat Authorized Push Payment Fraud
March 12, 2024  |  Fraud Prevention

The government of the United Kingdom has published draft legislation that would allow payment service providers (PSPs) to delay outbound payments processing by up to...

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APIs and Points of Vulnerability Spotlight BaaS Risks as Platforms Evolve 
APIs and Points of Vulnerability Spotlight BaaS Risks as Platforms Evolve 
March 11, 2024  |  Banking

If there’s a surety in financial services, it’s that hackers and bad actors probe ecosystems and platforms for points of vulnerability, looking for weak links...

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eCommerce Merchants Fail to Connect Failed Payments and Fraud
eCommerce Merchants Fail to Connect Failed Payments and Fraud
March 08, 2024  |  Fraud Prevention

Despite the many fraudsters on the prowl seeking to exploit any vulnerabilities they can find in the payments ecosystem, only about one-third of eCommerce merchants...

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Strong Authentication Fosters Trust Among Open Banking Users
Strong Authentication Fosters Trust Among Open Banking Users
March 07, 2024  |  Fraud Prevention

The payments journey, and landscape, is an ever evolving one, but one thing is certain: fraudsters will try to exploit any vulnerability they can to...

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Banks Say Better to Be Proactive Than Reactive When Making Payments Real Time
Banks Say Better to Be Proactive Than Reactive When Making Payments Real Time
March 07, 2024  |  Faster Payments

Faster payments solve many traditional pain points endemic to legacy payment methods. But although several hundred financial institutions (FIs) have signed on to the two...

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