PYMNTS
OCTOBER 16, 2020
Fighting these threats requires an equally wide range of defenses, says Jamie Armistead, Zelle vice president. 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.
Payments Source
AUGUST 22, 2018
Account takeover (ATO) fraud currently drives the largest fraud losses at North American financial institutions within digital channels, according to a new report from Aite Group and Early Warning, the bank organization that operates the Zelle payment network brand.
PYMNTS
OCTOBER 19, 2020
It is no wonder that payment apps like CashApp , Venmo and Zelle are used by more than 70 percent of Americans. Meeting this fraud threat will require in-depth knowledge of fraudsters’ techniques and advanced technology and customer vigilance, according to Jamie Armistead , vice president and business line leader for banking app Zelle. “We
PYMNTS
MARCH 10, 2020
The conversation came against a backdrop where, at the end of February, Fiserv said that nearly 600 banks and credit unions (CUs) have joined the turnkey service from Zelle to enable person-to-person (P2P) payment capabilities, and that the number of participants accessing the network via Fiserv has increased ten-fold in 2019 from 2018.
PYMNTS
OCTOBER 16, 2020
Zelle: The Role Of AI In Stopping COVID-Related P2P Payment Scams . Peer-to-peer (P2P) payment apps face a double-edged cybercrime threat, with both account takeovers (ATOs) and scams targeting their users.
PYMNTS
MARCH 15, 2019
This includes account takeovers, which allow cybercriminals to take control over legitimate accounts. Not even P2P services like Zelle are immune to fraud. Fraudsters have managed to trick Zelle users into approving transfers under false pretenses, leaving the account owners liable for the losses.
FICO
NOVEMBER 24, 2020
Payment card fraud, identity theft , account takeover and digital payment fraud have all increased significantly since March 2020. When it comes to financial fraud, such as account takeover, banks are on your side. Just as COVID has dramatically impacted our shopping habits, it’s affected our financial safety, too. .
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