The Paypers

JULY 18, 2023

National Australia Bank has blocked more than AUD 270 million in customer payments citing cryptocurrency scam concerns.

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Blocks Scams Cryptocurrency Payments 36

Fintech News

JANUARY 14, 2024

No less than 219 customers of DBS Bank have reportedly been duped by sophisticated phishing scams in the first two weeks of 2024, resulting in a collective loss of approximately S$446,000 (US$335,000), Channel News Asia learned from a joint statement by the Singapore Police Force and DBS on Sunday (14 Jan).

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Phishing Scams Authorization Transaction Limits 105

The Paypers

JULY 26, 2024

HSBC 's Australian branch has notified customers that it will block payments to cryptocurrency exchanges citing scam concerns.

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Blocks Scams Cryptocurrency Payments 36

The Fintech Times

FEBRUARY 16, 2024

Many consumers across the UK are falling to scams originating from Meta platforms: Facebook , Instagram and WhatsApp. According to Revolut , the UK neobank, 33 per cent of money lost to scams in total originated on these platforms. To better protect its consumers, the neobank has launched an advanced scam detection feature.

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Scams Push-to-Card Financial Crimes Origination 72

Fintech Finance

APRIL 24, 2024

Verizon , NatWest and Global Anti-Scam Alliance collaborate with Mastercard to tackle fraudsters and fight against scams. billion to internet scams in 2023 alone. Mastercard is also partnering with organizations across the ecosystem to fight scams. According to the FBI, across the United States people lost $12.5

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Scams Visa AI Consumer 52

Finextra

DECEMBER 6, 2023

Commonwealth Bank of Australia is collaborating with Vodafone to share SMS scam intelligence in near real-time, allowing the telco to identify and disrupt scammers while the bank makes proactive blocks on fraudulent payments.

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Scams Near Real-Time Blocks Payments 56

Fintech Finance

FEBRUARY 15, 2024

Revolut , the UK’s leading fintech with more than 35 million customers worldwide, has today announced the launch of an advanced scam detection feature to help protect customers from card scams. The customer is then protected from performing other similar payments and sent through a scam intervention flow in-app.

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Scams AI Push-to-Card Financial Crimes 52

Fintech News

SEPTEMBER 2, 2024

The Thai Bankers Association (TBA) has blacklisted 15,000 individuals and suspended 34,000 bank accounts connected to call-center scam operations, according to The Nation. The move follows the implementation of an AI-driven Cross-Reference File (CRF) system designed to identify mule accounts used in money laundering activities.

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Accounts Money Laundering Scams Blocks 144

The Paypers

JUNE 30, 2021

Sift has released its Q2 2021 Digital Trust & Safety Index report , which revealed that scams accounted for 59% of blocked user-generated malicious content within Sift’s network during the first quarter 2021.

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Blocks Scams Accounts 50

Finextra

SEPTEMBER 9, 2024

Lloyds Bank has established an industry working group, working with Chargebacks911 and other payment platforms, to report known fake websites when they arise and block transactions.

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Scams Blocks Transactions Payments 59

PYMNTS

DECEMBER 8, 2020

But that priceless present could turn into a costly surprise, the Better Business Bureau warns , due to an exponential increase in pet scams this year that has left would-be owners heartbroken and several hundred dollars poorer too. and Canada are on-track to field 4,300 pet scam reports this year, totaling more than $3.1

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Scams Zelle Law Enforcement On-Demand 110

PYMNTS

NOVEMBER 22, 2020

A scam involving a supposed customer service representative from Cash App has robbed several people of as much as thousands of dollars, a report from ABC 7NY says. After that, the Better Business Bureau (BBB) issued a scam alert to Cash App customers.

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Scams Cybersecurity Blocks Checks 100

Fintech News

AUGUST 21, 2024

million was seized in a joint operation between the Anti-Scam Centre (ASC) and OCBC. The operation, conducted from May to August 2024, targeted accounts allegedly involved in facilitating scam-related activities, particularly those opened by foreigners. or contact the Anti-Scam Helpline at 1800-722-6688.

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Accounts Financial Crimes Scams Freeze Account 106

Seon

OCTOBER 2, 2023

We look at how refund scams work and how the right precautions can stop them from damaging your business. What Are Refund Scams? Refund scams involve a criminal tampering with a POS (point of sale) terminal so it sends them an unwarranted refund. How Do Refund Scams Work?

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Scams Phishing Fraud Prevention Returns 52

PYMNTS

JANUARY 6, 2021

People who filed their 2019 taxes with H&R Block or TurboTax told CNBC that they have not seen a deposit as expected. Some H&R Block and TurboTax users did not get the new stimulus payment because it was directed by the IRS to an unfamiliar bank account, sources told CNBC. According to the U.S.

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Blocks Checks IRS Direct Deposit 71

Fintech News

FEBRUARY 7, 2024

By analysing runtime permission requests such as RECEIVE_SMS and READ_SMS, Google Play Protect will automatically block installations from internet-sideloaded sources that pose a risk. Developers are also encouraged to review their apps’ permissions and adhere to best practices to avoid potential blocks by Play Protect.

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Blocks Scams Best Practices Adjustments 106

PYMNTS

OCTOBER 1, 2020

Mitiga is working with law enforcement after uncovering a widespread business email compromise (BEC) scam that has netted more than $15 million. BEC scams have been surging in 2020, with a 200 percent increase in reports between April and May this year, PYMNTS reported.

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Business Email Compromise Scams Email Compromise Wire Transfer 73

The Fintech Times

APRIL 24, 2024

Mastercard has unveiled a range of AI-powered security solutions and forged industry partnerships with Verizon, NatWest, Entersekt and Global Anti-Scam Alliance in a mission to tackle the rise of scams and impersonation fraud. million thefts during the first half of 2023 – the equivalent of one every 12 seconds.

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Fraud Prevention Visa AI Scams 105

PYMNTS

OCTOBER 16, 2020

COVID-era fraudsters use scams that range from impersonating tax officials to selling fake PPE on P2P payment apps. million pounds (about $483 million) during the first half of this year compared to the same period in 2019, blocking 853 million pounds (about $1.1 How P2P Payment App Zelle Leverages AI To Fight Scams And Frauds.

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Zelle P2P Scams Financial Crimes 89

PYMNTS

NOVEMBER 1, 2016

According to Bloomberg, elderly Japanese bank customers are often targeted by “it’s me” scams, when criminal groups place phone calls and pretend to be a relative that needs money or a professional demanding payment. Joyo Bank, a regional lender located north of Tokyo, will begin operating the new anti-fraud ATMs early next year.

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ATM Scams Blocks EMV 68

Fintech News

JANUARY 10, 2024

In a broader strategy to combat increasingly sophisticated digital banking scams, MAS is collaborating with financial institutions, industry experts, and government agencies. ” MAS and Infocomm Media Development Authority (IMDA) have been working on a Shared Responsibility Framework (SRF) for phishing scams.

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Accounts Scams Phishing Payee 106

FICO

JANUARY 10, 2023

Top 5 Fraud Posts for 2022: Scams, Contactless and Money Mules. In a year that saw the word "scamdemic" coined, scams such as authorised push payment fraud were top of mind, along with various other fraud schemes. Deploy AI and Machine Learning – the Scams Model. FICO Admin. Tue, 07/02/2019 - 02:45. expand_less Back To Top.

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Scams Posting Push-to-Card Compromise 52

Fintech News

APRIL 2, 2024

This initiative, aimed at providing customers with enhanced protection against digital scams, allows individuals to block online access to a portion of their funds. billion of savings securely set aside as of March 2024.

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Accounts Scams Phishing Blocks 106

Neopay

APRIL 25, 2024

Mastercard is tackling the growing threat of scams through the launch of an AI-based product suite and several cross-industry partnerships. billion to internet scams in 2023. According to the FBI, across the United States people lost $12.5 In the UK, fraudsters were responsible for nearly 1.4

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Visa AI Scams FBI 52

PYMNTS

JULY 23, 2020

YouTube is seeking to dismiss a lawsuit against it from crypto firm Ripple alleging that YouTube doesn’t do enough to remove scams and fraud, according to court documents. In other news, Ant Group , the FinTech arm of Chinese eCommerce company Alibaba , has launched its own new blockchain brand called AntChain, according to The Block.

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Scams Blockchain Cross-Border Blocks 62

The Fintech Times

JULY 1, 2024

The bank aims to counteract prevalent fraud tactics such as phone theft, shoulder surfing and impersonation scams, which have led to significant financial losses across the UK. Mark Tierney, CEO of Stop Scams UK , commented: “Monzo’s new safety controls are a hugely welcome innovation that will help keep people safe against fraud. .”

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Security Scams Financial Crimes Blocks 64

Fintech News

APRIL 22, 2024

Phishing scams employ social engineering tactics to trick users into revealing login credentials, allowing attackers to hijack accounts. The mobile security solution uses a combination of signature-based detection and behavior-based detection to detect and block malware and other risks. A 2023 report by Kaspersky found that 40.8%

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Phishing Security Blocks Cybersecurity 113

PYMNTS

JULY 25, 2018

If the Business Email Compromise (BEC) scam isn’t on the radar of every corporate finance executive, it certainly should be. While the continued strength of BEC scammers may not come as a surprise, the research finds that the scam no longer only reigns in targets with a request for wire transfer.

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Scams Business Email Compromise AFP Wire Transfer 55

PYMNTS

OCTOBER 5, 2020

More scams are taking place in the pandemic era, and fraudsters are now using Cash App to swindle consumers, according to a report from WPRI 12 , which cited the Better Business Bureau (BBB). One of them involves a person requesting payment through the app and, once it's made, the sender is blocked immediately.

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Scams Blocks Credit Cards Payments Tools 102

Faster Payments Council

AUGUST 23, 2024

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FPC ISO 20022 Federal Reserve Instant Payments 167

PYMNTS

NOVEMBER 28, 2018

Google, the FBI and White Ops, along with a handful of cybersecurity companies, recently collaborated to shut down a digital ad fraud scam that used 1.7 Whenever they were blocked off in one place, they’d reappear somewhere else,” Google said. million computers to generate fake clicks.

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FBI Scams Cybersecurity Bots 51

PYMNTS

AUGUST 13, 2018

The Federal Bureau of Investigation (FBI) has issued a warning to banks that cybercriminals are gearing up to launch a choreographed global scam, known as the “ATM cashout,” in which the bad guys hack a bank or payment card processor to make cloned cards that they can use to withdraw money from ATMs around the globe.

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FBI ATM Scams Third Party Vendors 58

PYMNTS

MAY 27, 2020

Then the FIs can let any transactions that customers approved clear while blocking the rest, thus enabling tight security with few false positives, explains Mitch Pangretic, senior vice president of strategic partnerships at financial services company Elan, in an interview.

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Scams Account Takeovers Online and Mobile Banking Credit Union 98

PYMNTS

JULY 9, 2020

In other news, the CENTRE Consortium froze cryptocurrency valued at $100,000 by blocking a USDC stablecoin address in response to an ask from the authorities, CoinDesk reported. CENTRE maintains the ability to block addresses if a possible security incident or other potential harm to the network exists, per a document cited by CoinDesk.

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Law Enforcement Stablecoins Laws Addressing 64

FICO

MAY 24, 2016

A loose or blocked card slot may suggest the presence of a so-called ‘ lebanese loop’. Typically fraudsters work best in teams, and distraction is a good way of scamming innocent victims to obtain a card or PIN. The post How to Avoid Fraud Scams at the ATM appeared first on FICO. Try wiggling the card reader.

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ATM Scams Compromise Checks 68

PYMNTS

JULY 21, 2019

In other news, a retired couple in Australia have lost $900,000 due to a cryptocurrency scam. The Block was the first one to notice the shutdown. Mike and Karen Taylor invested money on a website that enticed with guaranteed high returns. The couple went on to invest $900,000 from their their pension program.

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Scams Bitcoin FDIC Cryptocurrency 53

PYMNTS

NOVEMBER 30, 2020

In other news, China’s Jiangsu Yancheng Intermediate People’s court released the details of the crypto assets seized by police related to the PlusToken Ponzi scheme crackdown, The Block reported. billion, according to The Block, citing the court’s judgment, which came out on Nov. million people, The Block reported.

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Bitcoin Law Enforcement Blocks Cryptocurrency 67