Neopay

DECEMBER 4, 2024

In a world increasingly driven by digital interactions, scams and fraud remain significant challenges, with fraud accounting for 39% of all reported crime in England and Wales. For scams and fraud prevention, legitimate interests often apply, requiring a robust three-part legitimate interests assessment (LI assessment).

Scams 52

Scams Fraud Prevention Laws Assessments 52

Fintech News

FEBRUARY 4, 2025

The Most Widespread Payment Frauds in Singapore Singapores consumers are relatively more aware of fraud risks compared to other regions, leading fraudsters to refine their methods. Below are the most common types of fraud found now. Phishing continues to be one of the most prevalent scams affecting both consumers and businesses.

Fraud Prevention 93

Fraud Prevention Phishing Authentication Disputes 93

The Payments Association

OCTOBER 28, 2024

It highlights the rising trends in fraud and stresses the need for payment leaders to implement stronger prevention strategies and collaborations. Payment leaders must focus on fraud prevention, collaboration with tech and telecom sectors, and public education to mitigate future risks. What’s next?

Scams 88

Scams Push-to-Card Fraud Detection Online and Mobile Banking 88

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. Financial institutions NatWest has implemented Mastercard’s AI-powered Consumer Fraud Risk solution.

Fraud Prevention 105

Fraud Prevention Visa AI Scams 105

Seon

MARCH 20, 2024

However, this expansion brings a corresponding need to evolve fraud prevention strategies to keep pace with advancing threats. Fraud’s Path to Escalation The digital age has ushered in a seismic shift in fraud, marked by increased costs and volume of fraudulent activities.

Fraud Prevention 98

Fraud Prevention Assessments Phishing Mitigation 98

Fintech Finance

SEPTEMBER 25, 2024

Today, the PSR has confirmed the maximum reimbursement limit for victims of Authorised Push Payment (APP) scams starting from 7 October. The PSR’s requirements will provide world-leading protections to people who fall victim to scams – with over 99% of APP claims covered by the reimbursement cap.

Scams 98

Scams Fraud Prevention Caps Faster Payments 98

The Payments Association

JANUARY 3, 2025

Mark McMurtrie (TPA) opened the session by presenting data showing how fraud tactics have shifted from physical card theft to more sophisticated digital scams. Balancing fraud prevention with maintaining a good service to customers is a constant struggle. Education also emerged as a critical area for improvement.

Fraud Detection 88

Fraud Detection Fraud Prevention Participant Financial Crimes 88

Fintech Finance

NOVEMBER 20, 2024

Authorized push payment (APP) scam losses are on the rise, expected to climb to $7.6 Authorized push payment (APP) scam losses are on the rise, expected to climb to $7.6 Financial institutions also face significant erosion of trust and rising customer attrition as consumers fall victim to APP scams.

Scams 97

Scams Real Time Payments Fraud Prevention Fraud Detection 97

The Payments Association

APRIL 8, 2025

Mark McMurtrie (TPA) opened the session by presenting data showing how fraud tactics have shifted from physical card theft to more sophisticated digital scams. Balancing fraud prevention with maintaining a good service to customers is a constant struggle. Education also emerged as a critical area for improvement.

Fraud Detection 88

Fraud Detection Fraud Prevention Scams Participant 88

Fintech News

APRIL 7, 2024

In the contemporary digital world, the proliferation of deepfake technology and generative AI heralds an era fraught with online scam challenges, notably within the financial sector in Asia. Economic Ramifications of Deepfake Scams The global impact of impersonation scams can be far-reaching, and expensive. ” says Wells.

Deepfake 133

Deepfake Scams Fraud Detection Verification 133

The Fintech Times

MARCH 28, 2025

According to the 2024 Nasdaq global financial crime report, fraud scams and bank fraud schemes alone cost have cost businesses across the globe $485.6billion. Creditinfo has appointed Rob Meakin as director of fraud and identity to head up this service.

Financial Crimes 76

Financial Crimes Crime Fraud Prevention Due Diligence 76

Fintech News

JUNE 6, 2024

In recent years, the banking sector in the Association of Southeast Asian Nations (ASEAN) has witnessed a significant surge in scams and fraud activities. DBS isn’t the only bank making news for phishing scams. US$129,841). Losses exceeded S$13 million (US$9.59 Losses exceeded S$13 million (US$9.59

Scams 107

Scams Phishing Deepfake Verification 107

FICO

FEBRUARY 23, 2022

New data suggest that people are concerned about fraud, but one of the biggest threats seems to be flying under the radar, at least for consumers. That threat is fraud scams – tactics and techniques that fraudsters are using to trick people into giving away their money. Preferred Communications Channels are Susceptible to Fraud.

Scams 98

Scams Fraud Detection Smishing Fraud Prevention 98

The Fintech Times

MARCH 31, 2025

It found that fraud poses a substantial threat to Europe’s financial industry, with an estimated $103.6billion in losses resulting from various scams and bank fraud scenarios.

Cross-Border 64

Cross-Border Addressing Financial Crimes Elder Abuse 64

FICO

NOVEMBER 15, 2021

Their lives can be turned upside down and their finances ruined when they become victims of clever scam artists. We can all become victims of fraud. This is compounded by a feeling that scams happen to those who are vulnerable or in some way naïve or stupid. . The truth is that anyone can become a victim of a scam.

Scams 105

Scams Romance Scams Crime Fraud Prevention 105

Finovate

NOVEMBER 18, 2024

This week’s Fintech Rundown begins with a handful of stories about partnerships in wealth management and lending, as well as moves by banks to bolster their fraud prevention capabilities. Fraud prevention CommBank introduces three new security features on its app to help users defend themselves against scams.

FinTech 59

FinTech Fraud Prevention Disputes Scams 59

FICO

MAY 27, 2021

The ‘courier scam’ is a global issue that intensified late last year and presented another worrying trend in the new world of digital payments and card scams. These scams are very successful — here’s how they work: 1. Example from FedEx Recognize & Report Fraud page. . The Financial Gain.

Scams 98

Scams Law Enforcement Compromise Fraud Prevention 98

The Payments Association

OCTOBER 21, 2024

The UK’s increasing fraud and scam problem, focusing on new regulations mandating automatic reimbursement for APP fraud victims. The rule changes provide stronger consumer protection but also raise concerns about industry costs and potential fraud exploitation. The UK’s fraud and scams problem is not going away.

Scams 88

Scams Law Enforcement Crime Fraud Prevention 88

The Payments Association

JANUARY 21, 2025

Businesses increasingly leveraged BNPL services to improve cash flow flexibility, while AI played a crucial role in enhancing fraud prevention and transactional security. It also points to generative AI as a future driver for fraud prevention and authentication, enhancing security measures in 2025.

Payments Trends 88

Payments Trends Financial Crimes Cross-Border Payments 88

BioCatch

MAY 14, 2024

As I’ve previously blogged , the state of scams in Sweden has been a hot topic in the media over the past few months, not least due to a show on Swedish SVT where an investigative journalist followed a criminal gang who used social engineering to convince elderly people to transfer their savings through a hybrid smishing and vishing campaign.

Scams 105

Scams Smishing Governance Government 105

Fintech Finance

OCTOBER 24, 2024

Ahead of Money20/20 US, Visa , a global leader in digital payments, today published the State of Scams: Fall 2024 Biannual Threats Report. The latest edition of the report brings to light several emerging threats and scams targeting banks and consumers, including a surprising resurgence of small-scale physical crime.

Scams 98

Scams Ransomware Governance Government 98

The Fintech Times

FEBRUARY 14, 2025

Only by adopting more advanced fraud prevention techniques and multi-layered defences can businesses stay ahead of emerging threats and strengthen trust with their users.”

Deepfake 78

Deepfake APACS Law Enforcement Fraud Detection 78

Neopay

APRIL 28, 2025

Members of the public will be better protected from fraudsters and scammers through a landmark, Europe-first ban on the possession and supply of SIM farms, the Fraud Minister Lord Hanson has confirmed. Think Fraud – How to stay safe from scams. million suspected scam messages, and in 2024 that figure reached over 73.5

Fraud Prevention 52

Fraud Prevention Crime Scams Law Enforcement 52

PYMNTS

OCTOBER 16, 2020

COVID-era fraudsters use scams that range from impersonating tax officials to selling fake PPE on P2P payment apps. Impersonation fraud is one method fraudsters use against their victims, consisting of bad actors impersonating trusted officials and tricking victims into sending them money.

Zelle 89

Zelle P2P Scams Financial Crimes 89

The Fintech Times

JUNE 1, 2024

Meanwhile, the fraud landscape is rapidly changing. Over a third of fraud attempts (42.5 per cent) targeting financial institutions now use AI, according to a recent study by digital identity and fraud prevention solution Signicat. Overall, around 29 per cent of these AI-driven fraud efforts are successful.

SWIFT 124

SWIFT AI Fraud Detection Fraud Prevention 124

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.

Scams 64

Scams Fraud Prevention Financial Crimes Crime 64

PYMNTS

FEBRUARY 8, 2019

Separately, in an effort to stymie fraud, corporate expense management solution provider Coupa has updated its platform. New features on offer are targeting compliance and fraud prevention. Larger Trends Point to Email Scams. The scammers have used the seeming loophole to open several fraudulent accounts.

Scams 67

Scams Fraud Prevention Email Compromise Compliance 67

The Fintech Times

MARCH 18, 2024

The fraud prevention industry is experiencing rapid growth in response to amplified regulatory pressure and increasingly sophisticated threats of online fraud. It has revolutionised convenience for consumers and created new business opportunities, but it has also opened a Pandora’s box of fraud risks.

Fraud Prevention 59

Fraud Prevention AI Fraud Detection Payments 59

Fintech Finance

OCTOBER 21, 2024

Award-winning Swiss FinTech, NetGuardians , known for its enterprise risk platform focused on combating bank fraud, has been chosen by PalawanPay , the e-wallet app from the Palawan Group of Companies, to bolster its fraud prevention measures. PalawanPay and other financial institutions are taking these threats seriously.

Fraud Prevention 98

Fraud Prevention Account Takeovers APACS Scams 98

The Payments Association

NOVEMBER 12, 2024

The choice affects compliance, efficiency, and fraud prevention capabilities. trillion in illegal funds circulated globally, with fraud and scams contributing to $485.6 Meanwhile, outdated and fragmented systems hinder many organisations’ fraud prevention efforts, increasing operational costs and impeding decision-making.

Financial Crimes 88

Financial Crimes Crime Fraud Prevention Compliance 88

PYMNTS

DECEMBER 23, 2020

One report found that as of May, there had been a 54 percent increase in gift card and loyalty fraud compared to the previous month.”. Luckily, the pandemic is bringing forth smarter artificial intelligence (AI) solutions calibrated for just these kinds of pandemic-era scams. Eying COVID-Era Fraud Favorites.

Scams 87

Scams Fraud Prevention PayPal Accounts 87

The Fintech Times

MARCH 25, 2025

With financial fraud continually on the rise across Europe, businesses are facing increasingly sophisticated scams involving account-to-account transactions. In a move to combat this, Intergiro and Movitz plan to develop new account verification tools, for use by a wide range of financial institutions including Intergiro itself.

Verification 59

Verification Cross-Border Fraud Prevention Payments 59

The Fintech Times

OCTOBER 21, 2024

PalawanPay , a payroll, debt collection, payments, cash transactions, and remittance service provider in the Philippines, has selected Swiss fintech, NetGuardians , known for its enterprise risk platform focused on combating bank fraud, to bolster its fraud prevention measures.

Fraud Prevention 52

Fraud Prevention Account Takeovers APACS Scams 52

Seon

MAY 23, 2024

across age groups and income brackets, the volume of digital activities and transactions are on the rise – and effective fraud prevention measures have never been more critical to safeguard a business’s bottom line. Safeguard Your Business, Protect Your Future Don’t let fraud drain your resources.

Fraud Prevention 52

Fraud Prevention Deepfake Fraud Detection Authentication 52

PYMNTS

MAY 22, 2020

The Federal Trade Commission (FTC) has received 18,235 reports of virus-centric scams since the beginning of the year, and these incidents have resulted in more than $13.4 I wish there were one silver bullet for this, but as long as there’s a notion of value [in stealing bank customers’ money], there will always be frauds and scams.”.

Fraud Prevention 74

Fraud Prevention Financial Crimes Federal Trade Commission Crime 74

The Fintech Times

NOVEMBER 20, 2024

Many consumers believe they would not fall victim to classical fraud attempts, but criminals are becoming more sophisticated. In fact, 75 per cent of US shoppers will encounter scams when looking to buy things online. It also brings awareness to the most common scams consumers face during the holiday season.

Scams 64

Scams Romance Scams Technology Venmo 64

Fintech News

FEBRUARY 5, 2025

Additionally, it enhances fraud prevention by identifying data inconsistencies, helping to reduce identity theft and fraudulent account creation. A recent initiative, the Scam Prevention Framework, aims to enforce stricter safeguards, introducing penalties of up to US$50 million for non-compliance.

Verification 66

Verification Checks Security Identity Theft 66