Seon

JUNE 27, 2024

As AI-driven progress continues to surge, questions arise about maintaining its progress over the long term without compromising security. Find Out More The use of AI in fraud is not limited to the digital space; it extends to financial crimes, money laundering, identity theft and other illicit activities.

Cybersecurity 52

Cybersecurity Fraud Detection Identity Theft Money Laundering 52

Clearly Payments

MARCH 4, 2024

From the Target data breach that compromised millions of customer accounts to the collapse of Wirecard AG following revelations of accounting fraud, these fraud events serve as stark reminders of the vulnerabilities within payment systems. Over 40 million credit and debit card accounts compromised.

Phishing 59

Phishing Data Breach Law Enforcement Money Laundering 59

PYMNTS

AUGUST 26, 2019

The individuals are charged with using business e-mail compromise (BEC) scams to dupe victims. Each of the defendants has been charged with “conspiracy to commit fraud, conspiracy to launder money, and aggravated identity theft,” according to the complaint and reports said other defendants also face fraud and money laundering charges.

Business Email Compromise 58

Business Email Compromise Romance Scams Scams Identity Theft 58

PYMNTS

MAY 6, 2020

Fraudsters can also carefully hoard a cache of stolen bank account data, credit and debit card information, Social Security numbers and other details to impersonate legitimate customers, using these details outright or cobbling them together to perpetrate identity theft, new account fraud and gain entry to other platforms. and the U.S.

Fraud Prevention 72

Fraud Prevention Money Laundering AI Identity Theft 72

Seon

JUNE 24, 2024

The rise of online transactions and evolving cybercrime tactics highlight the urgent need for strong identity risk management and monitoring. Identity theft presents significant challenges to businesses, making proactive risk mitigation essential for regulatory compliance, trust, asset protection, and operational integrity.

Risk Management 52

Risk Management Mitigation Risk Identity Theft 52

FICO

APRIL 16, 2019

Stopping Fraud - Identity Theft. Identity theft also remained a key priority for four-in-ten banks. Exposure is increasing in this area, given the rise in digital customer acquisition and the proliferation of compromised data from cyberattacks in APAC,” said McConaghy. of compromised records worldwide.

APACS 40

APACS Identity Theft Compromise Blocks 40

PYMNTS

OCTOBER 18, 2019

It’s been said that fraudsters are always evolving, and always looking for the path of least resistance in their efforts to steal identities and credentials to remain anonymous and … keep stealing. No surprise, then, that identity theft is on the rise. Those victims are kids — in some cases, even infants.

Identity Theft 42

Identity Theft Social Security Money Laundering Fraud Prevention 42

PYMNTS

MAY 2, 2017

Department of Justice (DoJ) announced plans to charge a man allegedly responsible for a $100 million business email compromise scam. The DoJ alleges that the man, Evaldas Rimašauskas, used a business email compromise (BEC) scam to trick Facebook and Google into paying fake invoices, impersonating manufacturer Quanta Computer.

Business Email Compromise 43

Business Email Compromise Email Compromise Scams Phishing 43

FICO

JANUARY 13, 2020

The laws and rules governing anti-money laundering and combating the financing of terrorism compliance have not been substantively updated since the Bank Secrecy Act was adopted in 1970. Political commentators are quick to note that currently there are few bipartisan issues left on Capitol Hill, but this is one of them.

AML 52

AML Authentication Finance OCC 52

PYMNTS

MAY 5, 2017

The compromised Sabre system reports offering seamless connectivity to over 120 property management, 7 revenue management, 7 CRM and 18 content management solutions according to the company’s website. To begin, some 32,000 properties use the travel tech company’s reservation system. But that’s not all.

Breach 45

Breach Business Email Compromise Data Breach Cybersecurity 45

PYMNTS

MARCH 29, 2018

Every attack means compromised data, and compromised data means an opportunity for fraudsters to use that information to commit fraud. Traditional KYC and anti-money laundering (AML) protocols typically account for known risks, but they might not offer a complete picture of whether a specific customer or company is trustworthy.

Authentication 43

Authentication Risk Compliance Database 43

Seon

JUNE 21, 2023

If one of these accounts gets hacked, it can lead to more accounts being compromised, particularly if your security settings are low and you aren’t using a variety of username/password combinations. Other digital payment service users : Fraudsters may also target a cardholder’s mobile wallet app and/or full-service neobank account.

Credit Cards 52

Credit Cards Risk Online and Mobile Banking Phishing 52

PYMNTS

NOVEMBER 6, 2017

After all, your very name, address, telephone number, maiden name and so on are all ticking time bombs, putting you at risk for identity theft. If the SSN and all manner of traditional identifiers have been compromised and are floating around the dark web, biometrics is the cure-all. Biometrics May Not Be the Panacea.

Security 43

Security Consumer Office of the Comptroller of the Currency Identity Theft 43

PYMNTS

APRIL 22, 2016

The link is a little circuitous since there was a bribery scheme in the mix, wrapped around some good, old-fashioned money laundering, which is, of course, how bitcoin comes into play. The accused cybercriminals allegedly violated anti-money laundering laws for not reporting these incidents.

Bitcoin 42

Bitcoin Credit Union Money Laundering Identity Theft 42

FICO

MAY 19, 2020

Improve our defenses, and refresh our operations handbook, to handle the increase in mule accounts for money laundering. 5) Top 5 Fraud Manager Considerations During COVID-19: A rise in application fraud and identity theft. Be aware that internal fraud and employee abuse may also be on the rise during these times.

Account Takeovers 52

Account Takeovers Identity Theft Scams Financial Crimes 52