A pair of representatives last week unveiled legislation targeting one piece of the increasingly industrialized fraud economy. Reps. Jefferson Shreve of Indiana and Rob Menendez of New Jersey introduced the Stop SIM Box Scams Act, which would ban manufacturing, importing, selling, leasing, advertising, owning or...
The 43% of scam victims who pay fraudsters within an hour present banks with an obvious problem. There may be almost no time to stop the transaction. The 18% who take at least two weeks present a different one. The findings, conveyed in the September...
Watch more: The Digital Shift With Operation Shamrock’s Erin West The morning before she spoke with PYMNTS CEO Karen Webster, Erin West took a call from a man in Arizona who had lost $4.5 million to an investment scam. He’d done everything a victim is...
Decades-old payment technology is reportedly helping scammers steal hundreds of millions of dollars from the welfare system. It’s part of an operation led by Romanian organized crime groups in the U.S., who rely on magnetic stripe-based payment systems to carry out their thefts, The Wall...
October 07, 2026
A pair of representatives last week unveiled legislation targeting one piece of the increasingly industrialized fraud economy. Reps. Jefferson Shreve of Indiana and Rob Menendez of New Jersey introduced the Stop SIM Box Scams Act, which would ban manufacturing, importing, selling, leasing, advertising, owning or operating SIM boxes. It would also direct the Federal Communications […]
September 28, 2026
Watch more: The Digital Shift With Operation Shamrock’s Erin West The morning before she spoke with PYMNTS CEO Karen Webster, Erin West took a call from a man in Arizona...
September 17, 2026
Card theft and account breaches remain major threats, but some of today’s fastest-growing fraud schemes begin earlier by targeting identity itself. Criminals increasingly use artificial intelligence to build false identities...
March 23, 2026
A scam often works because the payment happens before the victim has time to think. More than half of scam payments are made within 24 hours, according to “Financial Scams...
October 07, 2026
U.S. Bank introduced a service called Project 360, designed to help customers protect their privacy, according to a Wednesday (Oct. 7) press release. Project 360 lets users monitor credit activity, identify threats to their privacy and respond when personal info might be exposed, per the release. “Fraud, scams and the exposure of personal information have […]
September 20, 2026
Decades-old payment technology is reportedly helping scammers steal hundreds of millions of dollars from the welfare system. It’s part of an operation led by Romanian organized crime groups in the...
September 16, 2026
Last week, Revolut revealed that customer data had been exposed in an email scam. Now, the U.K. FinTech is dealing with extortion threats from a hacker claiming to have perpetrated...
September 14, 2026
Fraudsters are reportedly trading massive scam operations for smaller and more profitable schemes using artificial intelligence (AI). That’s according to Giles Thomson, president of the Financial Action Task Force (FATF), who outlined the...
