Scams, regrettably, are a feature — not a bug — of modern, digital payments and commerce. And in an era where technology has become increasingly sophisticated, so too have the methods employed by scammers. From identity theft to fraudulent transactions, scams are evolving at an...
There are nearly as many ways to pay and be paid as there are types of small businesses. But there’s one common thread connecting both Main Street businesses and the payment mechanisms they employ: the need to secure those payments without creating checkout frictions that...
UnitedHealth Group CEO Andrew Witty will testify Wednesday (May 1) that hackers broke into its Change Healthcare unit’s systems through the Citrix portal. “On February 12, criminals used compromised credentials to remotely access a Change Healthcare Citrix portal, an application used to enable remote access to desktops,” Witty said in testimony posted...
How much did payment fraud cost retailers last year? The answer, according to one analysis, is a cool $429 billion. According to a recently released report from global financial technology provider Adyen, not only did fraudsters scam retailers around the globe out of $429 billion in 2023, but...
May 09, 2024
The internet has been both a blessing and a curse to society and commerce alike. And with the news Wednesday (May 8) that a criminal network of over 75,000 fake eCommerce shops has scammed over 800,000 shoppers in the U.S. and Europe, embracing digital innovation while at the same time ensuring payments security is top of […]
May 01, 2024
Scams, regrettably, are a feature — not a bug — of modern, digital payments and commerce. And in an era where technology has become increasingly sophisticated, so too have the...
April 23, 2024
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 at Visa, Fiserv and PayPal....
April 23, 2024
More than 40% of financial institutions (FIs) report seeing increasing volumes of fraud and financial crimes, according to PYMNTS Intelligence data. Faced with this onslaught of illicit activities, it’s little...
April 29, 2024
UnitedHealth Group CEO Andrew Witty will testify Wednesday (May 1) that hackers broke into its Change Healthcare unit’s systems through the Citrix portal. “On February 12, criminals used compromised credentials to remotely access a Change Healthcare Citrix portal, an application used to enable remote access to desktops,” Witty said in testimony posted on the website of the House Energy & Commerce Committee. “The portal […]
April 15, 2024
Federal authorities are warning banks against the rising threat of passport card fraud. The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) and the Department of State’s Diplomatic Security Service (DSS) issued a...
April 01, 2024
The Federal Trade Commission (FTC) said Monday (April 1) that it now has stronger tools to combat scammers who impersonate government agencies and businesses. A new rule that took effect Monday allows...
February 15, 2024
Digital payments may be growing in popularity, but the use of paper checks persists. So too does check fraud, which reached record levels in 2023. With that in mind, identity...
