FICO

SEPTEMBER 16, 2020

It was a strong year for many European countries in reducing basis point fraud losses (a ratio of fraud losses to card sales), against the backdrop of increased transactional volume and value in 2019. But there were also some worrying increases. What does this mean for the new challenges of 2020 and beyond?

Monetary Loss 52

Monetary Loss Compromise Deposit Account Volume 52

PYMNTS

FEBRUARY 12, 2020

As for the areas where scammers managed the biggest hits, business email compromise (BEC), confidence/romance fraud and spoofing were the top three types of crime in terms of monetary losses. billion (or slightly over half) of all losses tracked in 2019.

Business Email Compromise 101

Business Email Compromise FBI Email Compromise Scams 101

PYMNTS

JANUARY 27, 2020

Separate analysis from Singapore warned that monetary losses associated with BEC scams that specifically instruct targeted employees to send gift card redemption details are on the rise, too. BEC is not the only cyberattack causing corporate losses, however, as ransomware threats continue to ramp up as well.

Business Email Compromise 71

Business Email Compromise Scams Ransomware Real Time Payments 71

PYMNTS

DECEMBER 1, 2016

The combined monetary losses affiliated with Avalanche malware attacks were estimated by the organizations to be valued in the range of hundreds of millions of dollars, although exact calculations are reportedly still hard to come by due to the variety of malware families present.

Monetary Loss 43

Monetary Loss FBI Money Laundering Cybersecurity 43

EBizCharge

JULY 23, 2024

The repercussions of such incidents extend beyond monetary losses to one’s economic reputation and legal ramifications. Unexpected expenses and insufficient funds can result in returned checks, leading to hefty fees and significant financial challenges.

Returns 52

Returns Checks Electronic Funds Transfer (EFT) Direct Deposit 52

PayHawk

AUGUST 29, 2023

Beyond the monetary loss, there’s a risk of eroding the hard-earned trust of your patrons. From personal details to financial data, each transaction carries a payload of sensitive information. Now, imagine the potential fallout if this data lands in the wrong hands!

Process 52

Process Security PCI DSS Payments 52

PYMNTS

OCTOBER 21, 2020

The newest version brings together tank capacity, in-the-moment truck location and tank-level information into the fuel card authorization flow to assist in preventing monetary losses connected with driver theft and card fraud.

Commercial Card 52

Commercial Card Innovation Procedures B2B 52

PYMNTS

APRIL 18, 2017

Cyberattacks risk companies’ finances, confidence and reputation, with victims reporting not only monetary losses, but costs from disruption to their business and productivity.

Monetary Loss 41

Monetary Loss Cybersecurity Breach Rules 41

PYMNTS

JULY 8, 2020

The prepared retail tenant will be armed with hard data to back up its request to the bankruptcy court that the landlord be required to cure its breaches and pay all monetary losses before it is allowed to assume the lease,” it says. “In

Monetary Loss 60

Monetary Loss Authentication Reconciliation Breach 60

National Merchants Association

AUGUST 10, 2022

For example, a bank or credit card processing service provider might consider a business high-risk due to increased regulations or potential monetary loss. There are several types of merchant accounts—some are considered low-risk while others are high-risk. Contrary to how it sounds, “high-risk” isn’t necessarily bad.

Risk 52

Risk Process Accounts Credit Cards 52

National Merchants Association

AUGUST 10, 2022

For example, a bank or credit card processing service provider might consider a business high-risk due to increased regulations or potential monetary loss. There are several types of merchant accounts—some are considered low-risk while others are high-risk. Contrary to how it sounds, “high-risk” isn’t necessarily bad.

Risk 52

Risk Process Accounts Credit Cards 52

National Merchants Association

AUGUST 10, 2022

For example, a bank or credit card processing service provider might consider a business high-risk due to increased regulations or potential monetary loss. There are several types of merchant accounts—some are considered low-risk while others are high-risk. Contrary to how it sounds, “high-risk” isn’t necessarily bad.

Risk 52

Risk Process Accounts Credit Cards 52

PYMNTS

DECEMBER 9, 2016

The combined monetary losses affiliated with Avalanche malware attacks were estimated by the organizations to be valued in the range of hundreds of millions of dollars, although exact calculations are reportedly still hard to come by due to the variety of malware families present.

Monetary Loss 90

Monetary Loss Money Laundering FBI Phishing 90

Stax

NOVEMBER 27, 2023

Of course, financial criminal activity doesn’t have to just lead to monetary loss—it could also lead to a data breach of customer information. Meanwhile, in the European Union, it’s estimated to cost between €715 billion to €1.87 trillion a year. Either way, the stakes can be high and the consequences far-reaching.

Due Diligence 88

Due Diligence Money Laundering AML Financial Crimes 88

The Fintech Times

APRIL 22, 2024

Fighting fraud According to the research, not only were respondents’ social media and email accounts accessed, but one in four individuals also fell victim to digital wallet theft, resulting in monetary losses.

Identity Theft 59

Identity Theft Consumer Online and Mobile Banking Monetary Loss 59

PYMNTS

DECEMBER 9, 2020

GIACT works in identity verification, and Refinitiv plans to offer its EPIC platform alongside the company's own World-Check to give customers comprehensive services to address money laundering risks, prevent monetary loss and look out for payments fraud, the two companies said in a news release.

Fraud Prevention 80

Fraud Prevention Money Laundering Due Diligence Monetary Loss 80

FICO

JUNE 21, 2021

FICO’s European Fraud Map for 2020, based on data from Euromonitor International , shows that the UK achieved the greatest fall in card fraud monetary losses among the 18 countries studied, dropping 7 percent and £46 million year-on-year. However, other nations did not fare as well. Source: FICO European Fraud Map. .

Smishing 52

Smishing Phishing Monetary Loss Compromise 52