PYMNTS

OCTOBER 16, 2020

A financial fraud attack against FIs or businesses occurred every two minutes on average in 2019, resulting in 59,627 attacks in total. Peer-to-peer (P2P) payment apps like CashApp , PayPal , Venmo and Zelle are especially popular targets for financial crime, with fraud attacks against these apps increasing by 733 percent since 2016.

Zelle 89

Zelle P2P Scams Financial Crimes 89

FICO

DECEMBER 5, 2022

Tue, 07/02/2019 - 02:45. For example, using email or text verification for identity authentication is typically not secure, yet many customers still prefer these methods for the same reasons that made them popular from the start - they are quick and easy to use. Top 5 Surprises from FICO’s Fraud and Digital Banking Survey. FICO Admin.

Online and Mobile Banking 52

Online and Mobile Banking Authentication Identity Theft Security 52

FICO

NOVEMBER 30, 2022

Tue, 07/02/2019 - 02:45. By convincing individuals to send money through apps like Venmo, CashApp, Zelle and others, or adding a payee for traditional ACH transactions, fraudsters are perpetuating what is known in the financial industry as Authorized Push Payment (APP) fraud (in the UK) or authorized user fraud (in the US). FICO Admin.

Scams 52

Scams Push-to-Card Fraud Prevention CashApp 52

FICO

NOVEMBER 7, 2022

Tue, 07/02/2019 - 02:45. On one side, there are regulators concerned about the perceived growth of scam losses through popular P2P payments apps like Zelle, Venmo and CashApp. Enable multifactor authentication (MFA), avoiding text or email for one-time passcode sharing whenever possible. FICO Admin. by TJ Horan.

Scams 52

Scams Authorization P2P Zelle 52