PYMNTS

AUGUST 5, 2019

Perhaps that’s why, in the midst of the seemingly never-ending stream of headlines about data breaches, account takeovers, stolen credit cards and online fraud , the notion of “check fraud” seems something of an outlier for the up-and-coming fraudster looking to make a decent living. And the death of checks – sooner rather than later.

Checks 65

Checks Instant Payments Online and Mobile Banking Irrevocability 65

FICO

FEBRUARY 24, 2022

According to the FBI , a money mule is someone who transfers or moves illegally acquired money on behalf of, or at the direction of another. What Exactly Is Money Muling? In this clip from ABS-CBN, I discuss the rise of money mules in the Philippines: Faster Payments Accelerate Problem.

Money Laundering 52

Money Laundering Financial Crimes Crime AML 52

FICO

JANUARY 10, 2023

As Debbie Cobb explained, card skimming is big business; the FBI estimates that “skimming costs financial institutions and consumers more than $1 billion each year.” Extra identity checks on payment transactions make it difficult for them to use stolen credentials to make payments. Read the full post. Read the full post.

Scams 52

Scams Posting Push-to-Card Compromise 52

FICO

SEPTEMBER 10, 2020

Typically, money mules are unwittingly tricked into depositing a fraudulent check into a bank account or into receiving money from accounts without authorization of the account owner. Consumers are taking “mobile to the max” by using their phones for mobile deposit, contactless payments and person-to-person payments.

Crime 52

Crime Money Laundering Online and Mobile Banking Romance Scams 52