Peer-to-peer (P2P) payments have grown increasingly popular in the past several years. This is especially true for younger consumers, who prefer a digital-first payment experience. At least half of millennial and Generation Z consumers say they use P2P payments for both in-store and online purchases....
Porch Group has launched a fraud warning product for title and escrow companies. The new RynohVerifi product is designed to help protect against payment fraud by confirming the payee account ownership and alerting clients to any anomalies with the account details, the company said in a Tuesday...
With the rise of digital transactions and online services, fraud has become an increasing concern for both consumers and businesses. In March 2023, for example, 11% of consumers who paid for groceries encountered payment fraud, marking an 88% increase since December 2021. This is one...
The U.K.’s payments regulator wants banks to reimburse victims of authorized push payment (APP) fraud. In light of a 40% increase in APP fraud in 2021, regulators in the country have been considering how to grant victims a right to compensation from their bank. Accordingly,...
May 02, 2024
Most crimes, as the saying goes, are crimes of opportunity. And that’s bad news for small businesses, whose lack of resources and challenges when accessing financing often leaves them ill-prepared for fraud schemes and scams — particularly given the shot in the arm that innovations like artificial intelligence (AI) have given to bad actors. “Larger […]
October 19, 2016
There’s no question that retailers have a lot on their plates, but security and fraud have quickly become top of mind. Do retailers have the right tools to combat fraud...
January 10, 2024
Porch Group has launched a fraud warning product for title and escrow companies. The new RynohVerifi product is designed to help protect against payment fraud by confirming the payee account ownership and alerting clients to any anomalies with the account details, the company said in a Tuesday (Jan. 9) press release. Those anomalies could suggest compromised business emails, […]
February 06, 2023
The U.K.’s payments regulator wants banks to reimburse victims of authorized push payment (APP) fraud. In light of a 40% increase in APP fraud in 2021, regulators in the country...
June 29, 2022
The U.K. is experiencing a widespread “epidemic” of payments fraud, in which scammers trick victims into sending money into fraudsters’ accounts, the Financial Times reported Wednesday (June 29). The report...
April 21, 2022
Global card issuing platform Marqeta is introducing a new product suite the company said will help customers that use its card-issuing platform fight fraud — a problem expected to generate...
