The Fintech Times

JUNE 24, 2024

As many as 15 million Brits could have fallen victim to scams in the past 12 months, according to new research from Wise , the international money app. Among those hit by scams, 17 per cent reported a significant financial impact, with 10 per cent even having to delay retirement plans as a result.

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Fintech News

FEBRUARY 18, 2024

Global neobank Revolut has rolled out an advanced artificial intelligence (AI) feature designed to shield its 35 million users worldwide from the growing threat of card scams. Developed by Revolut’s in-house financial crime team, this feature assesses the likelihood of a transaction being fraudulent.

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Scams AI Push-to-Card Financial Crimes 79

The Paypers

MARCH 2, 2023

Financial crime solution provider Feedzai has joined the Global Anti-Scam Alliance (GASA) – a not-for-profit organisation whose goal is to protect consumers across the world from scams – as a corporate member.

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The Paypers

MAY 11, 2023

Financial crime and risk management solutions provider Feedzai has launched ScamPrevent on its RiskOps Platform to help banks protect their customers from financial scams.

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Financial Crimes Crime Scams Risk Management 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

PYMNTS

JULY 24, 2020

PYMNTS’ July 2020 Preventing Financial Crimes Playbook , done in collaboration with NICE Actimize , examines the cybertheft menace from a variety of angles, with an eye on COVID-era scams. The COVID-19 pandemic is making the threat of financial crime worse,” states the new Playbook. So must good actors.

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Financial Crimes Crime Cybersecurity Risk Assessment 75

PYMNTS

MAY 21, 2020

Financial crime is a never-ending concern for banks, credit unions (CUs) and other financial institutions (FIs), with trillions of dollars and untold terabytes of personal information stolen every year. FIs are working on a number of technologies to fight these financial crime attempts, however. About the Playbook.

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Financial Crimes Crime Identity Theft Federal Trade Commission 52

Fintech News

SEPTEMBER 17, 2024

Major retail banks in Singapore will progressively implement Singpass Face Verification (SFV) over the next three months in a concerted effort to bolster security against phishing scams. While banks will continue to do their part to fight scams, customers need to be vigilant themselves and practice good cyber hygiene.”

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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

PYMNTS

MAY 25, 2020

Digital fraud and other forms of financial crime are also on the rise due to the uncertainty and confusion surrounding the crisis. Twenty-two percent of Americans have reported being targeted by COVID-19-related fraud, and these scams have seen more than $1.2 Phishing attacks are some of the most common scams.

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Financial Crimes Crime Scams Fraud Prevention 67

PYMNTS

SEPTEMBER 28, 2020

PYMNTS' September Preventing Financial Crimes Playbook , done in collaboration with NICE Actimize , analyzes the pandemic-era fraud landscape and identifies its many pitfalls. Financial crime-fighters simply won’t suffer this state of affairs. Isn’t it just like a crook to exploit a bad situation?

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Financial Crimes Crime Due Diligence Federal Trade Commission 81

Finextra

AUGUST 20, 2024

Committed to collaboratively advancing the crypto ecosystem’s security, Binance is working closely with law enforcement agencies around the globe in combating and deterring financial crime.

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The Payments Association

NOVEMBER 17, 2023

The Payment Systems Regulator (PSR) has published its inaugural APP Scams Performance Report, which presents data from the year 2022.

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Scams Addressing Regulations Consumer 88

PYMNTS

OCTOBER 16, 2020

COVID-era fraudsters use scams that range from impersonating tax officials to selling fake PPE on P2P payment apps. Financial crime is a constant worry for banks, credit unions, FinTechs and other financial institutions (FIs) and businesses, with total fraud losses totaling $1.45 trillion a year. Banks in the U.K.

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FICO

JANUARY 5, 2021

What else made for the hottest reads in 2020 for fraud and financial crime? Here were our top 5 posts: #1: Fraud And Financial Crime Convergence. TJ Horan reported on a key takeaway from the Aite Financial Crime Forum : lenders are serious about combining their fraud and financial crime protection systems.

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Financial Crimes Crime Posting Scams 52

PYMNTS

DECEMBER 28, 2020

As the distribution of the COVID-19 vaccine continues to roll out to medical workers and high-risk populations, the Financial Crimes Enforcement Network (FinCEN) is asking financial institutions to be extra vigilant when it comes to cybersecurity. .

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Fincen Suspicious Activity Report (SAR) Scams Federal Trade Commission 127

Fintech News

JUNE 26, 2024

Singapore’s National Asset Recovery Strategy focuses on these four pillars Singapore emphasises collaboration with international partners, community stakeholders, and the private sector to enhance asset recovery efforts and prevent financial crimes.

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FICO

SEPTEMBER 5, 2022

European Card Fraud in 2021: Winners, Losers and Scams. The United Kingdom and the Nordic region continue to lead Europe in terms of digital transformation and fraud loss reduction - but non-card scams are rising fast. Senior Consultant, Fraud and Financial Crime. Scams Fraud Overtaking Card Fraud. Darcy Sullivan.

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BioCatch

APRIL 10, 2024

In our latest country-specific report (which follows up on our recent Digital Banking Fraud Trends in EMEA report ), BioCatch research shows retail banking customers in Germany see – or at least fall for – fewer of the purchase scams tormenting the rest of the continent (and the world) and encounter more impersonation and investment scams.

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Financial Crimes Scams Crime Origination 52

FICO

NOVEMBER 15, 2021

Their lives can be turned upside down and their finances ruined when they become victims of clever scam artists. Despite numerous studies and newspaper headlines informing us about the scams that fraudsters perpetrate, most of us don’t think we can easily be tricked into handing over money to criminals. Case 1: CryptoRom.

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Scams Romance Scams Crime Fraud Prevention 105

PYMNTS

AUGUST 3, 2020

The Financial Crimes Enforcement Network (FinCEN) issued a press release warning financial institutions (FIs) and consumers about pandemic-related scams, including some connected to cryptocurrency. FinCEN warns that bad actors “are engaged in fraudulent schemes that exploit vulnerabilities created by the pandemic.”

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Fintech News

JULY 9, 2024

Announced by the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS), this move aims to better protect customers from phishing scams. Phishing scams were among the top five scam types last year, with at least S$14.2

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FICO

MAY 17, 2022

Only 6 percent of all those surveyed were most worried about being scammed, despite the fact that £355.3 million was lost to these scams in the first half of 2021. . The rise of scams during the pandemic has been truly frightening. FICO surveyed 1,000 UK consumers aged 18 to 85 as part of a global survey in late 2021.

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Financial Crimes Crime Money Laundering Consumer 52

Finextra

SEPTEMBER 10, 2024

While many financial institutions continue to be concerned about whether they are breaching rules and obligations, in certain situations, the fact that sharing data for fraud prevention can be useful and is a legitimate reason, is lost.

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Finextra

OCTOBER 26, 2023

Watch this webinar predicting what financial crime challenges will emerge in 2024 and how financial institutions can tackle them.

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PYMNTS

JULY 16, 2020

Treasury’s Financial Crimes Enforcement Network (FinCEN) is warning financial institutions of a “high-profile” new scam exploiting Twitter accounts to try and scam convertible virtual currency (CVC) out of individuals, according to a Thursday (July 16) press release.

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Scams Suspicious Activity Report (SAR) Treasury Fincen 80

FICO

JUNE 15, 2023

Home Blog Feed test To Stop Scams, It’s Time to Add Sensible Friction to Easy Money The convenience and speed of real-time payments makes it easy for fraudsters to scam individuals. Fraudsters love this change and have been scamming consumers and businesses at full speed with all sorts of sneaky, dirty tricks.

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PYMNTS

NOVEMBER 21, 2019

And through the latest scam, as detailed by the country’s Economic and Financial Crimes Commission, he was able to use the fictitious name “Akinwunmi Sorinmade” in order to open two bank accounts. He had access to both the internet and to his phone. With those accounts he then bought a luxury car and homes.

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Scams Checks Romance Scams Email Compromise 87

FICO

MAY 20, 2021

model, which adds a Scam Detection Score to Falcon’s existing third-party fraud detection score for retail banking transfers. The two scores will allow banks to better differentiate strategies to deal with these distinct financial crime realities. The Rise of Scams. APP scams are not just a major problem in the UK.

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FICO

DECEMBER 14, 2021

But European fraud and financial crime have continued to evolve. More Vaccine-Related Scams. Related scams have also been on the rise. We believe this is one of the many scams that will consistently hit the headlines in 2022. Investment in Scam-Fighting AI.

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PYMNTS

JULY 7, 2020

Treasury Department’s financial crime unit has alerted financial institutions (FIs) about imposter scams arising during the COVID-19 pandemic. . On Tuesday (July 7), the Financial Crimes Enforcement Network (FinCEN) issued an advisory to enhance efforts by FIs to stop suspected illegal activity.

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Finextra

JUNE 12, 2024

VoP must also be considered as a fraud and financial crime mitigator, and the conversation turns to how cross border payments could open the door to potential scams and how banks must stop operating in siloes to prevent them.

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FICO

FEBRUARY 9, 2023

Home Blog FICO APP Scams: What Impact Will the PSR’s Proposals in the UK Have? million stolen through fraud in the UK last year, payment scams (or authorised push payment fraud or APP scams) accounted for 41%. The vast media attention on the various types of payment scams has helped keep awareness high.

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FICO

APRIL 8, 2022

There has been an awful lot of unsettling news about scams and fraud lately. As it happens, orchestration (of both data and process) is one of the most potent weapons in fighting scams and fraud. Scams Are Front Page News. In recent weeks scams and fraud have been splashed across headlines everywhere. A crescendo, even.

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The Fintech Times

JULY 1, 2024

UK digital bank Monzo has unveiled three new security controls designed to combat fraud, as financial crimes continue to rise across the country, affecting many banking customers. Monzo’s latest security measures – Known Locations, Trusted Contacts and Secret QR Codes – will roll out in the coming weeks.

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The Payments Association

AUGUST 7, 2024

The PSR's July 2024 report on APP scams highlights growing fraud sophistication and the challenges for financial institutions, stressing the need for improved regulations and consumer protection. Read more

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PYMNTS

OCTOBER 19, 2020

These apps are not without danger, though, and fraudsters are looking to cheat and scam their way to paydays from innocent users. We split out scams and frauds,” he explained in a recent interview with PYMNTS. Fraud means someone is trying to access your device, while scams consist of people being tricked into sending money.”.

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Zelle Scams AI CashApp 68