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.

Spike in Identity Fraud Forces Banks to Embrace Innovation
Spike in Identity Fraud Forces Banks to Embrace Innovation
April 23, 2024  |  Security & Fraud

To the hammer of a bad actor, everything vulnerable looks like a nail. Get the Full Story Complete the form to unlock this article and...

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Issuers Look Beyond Inflation and Interest Rates to Managing Real-Time Fraudsters
Issuers Look Beyond Inflation and Interest Rates to Managing Real-Time Fraudsters
April 23, 2024  |  Real-Time Payments

As global head of product at payment processor i2c, Seth Perlman has seen his share of headwinds and tailwinds in the banking business, including stints...

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90% of FIs Say a Fraud-Prevention Vendor’s Reputation Is Key to Collaboration 
90% of FIs Say a Fraud-Prevention Vendor’s Reputation Is Key to Collaboration 
April 23, 2024  |  Fraud Prevention

More than 40% of financial institutions (FIs) report seeing increasing volumes of fraud and financial crimes, according to PYMNTS Intelligence data.  Get the Full Story...

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Basware Debuts AI-Powered Fraud Prevention Tool
Basware Debuts AI-Powered Fraud Prevention Tool
April 22, 2024  |  Fraud Prevention

Accounts payable (AP) automation company Basware has launched a new fraud/error protection solution. Get the Full Story Complete the form to unlock this article and enjoy unlimited...

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Commerzbank Fined for Money Laundering Compliance Failure
Commerzbank Fined for Money Laundering Compliance Failure
April 22, 2024  |  AML

A German financial regulator has reportedly fined Commerzbank $1.5 million for anti-money laundering violations. Get the Full Story Complete the form to unlock this article and enjoy...

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Air Travelers Help Fuel $2 Trillion Global Money Laundering System
Air Travelers Help Fuel $2 Trillion Global Money Laundering System
April 21, 2024  |  Security & Fraud

Each year, money launders funnel $2 trillion in ill-gotten gains into the financial system. Get the Full Story Complete the form to unlock this article...

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Senators Press Banks for Better Defenses Against Wire Fraud
Senators Press Banks for Better Defenses Against Wire Fraud
April 19, 2024  |  Security & Fraud

The looming specter of wire fraud has spurred lawmakers to press big banks for better defenses against bad actors — and a detailing of the impact the...

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German Agency Criticizes EY’s Audits of Wirecard
German Agency Criticizes EY’s Audits of Wirecard
April 19, 2024  |  Security & Fraud

A German regulator has reportedly concluded that EY’s audit work and quality control regarding the now-defunct payments firm Wirecard was marked by “grave” and “repeated” violations...

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Proposed Federal AI Oversight Plan Faces Hurdles, Experts Say
Proposed Federal AI Oversight Plan Faces Hurdles, Experts Say
April 18, 2024  |  artificial intelligence

Sen. Mitt Romney’s call for enhanced federal oversight of artificial intelligence (AI) faces hurdles, according to experts, who say the technology’s rapid advancement and wide-ranging...

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