Innovative Payments Association

JANUARY 13, 2025

The consequences of these scams can be devastating, both financially and emotionally. It’s crucial for seniors, their families, and caregivers to understand the risks and learn how to safeguard against them. Grandparent Scams: These scams prey on seniors’ love for their family.

Scams 52

Scams Law Enforcement Payments FBI 52

Fintech Review

MARCH 11, 2025

ScamAlert transforms customers into active defenders against increasingly sophisticated scams. This is particularly crucial because, in many scams, customers validate fraudulent transactionseffectively handing scammers the green light to continue their schemes.

Scams 52

Scams Fraud Prevention Risk Assessment Financial Crimes 52

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. This report highlights the need for unified action to address both domestic and cross-border risks, fostering a safer financial system for all.”

Cross-Border 64

Cross-Border Addressing Financial Crimes Elder Abuse 64

The Fintech Times

DECEMBER 16, 2024

The Australian Securities and Investments Commission (ASIC), the country’s financial regulator, has filed documents against HSBC Bank Australia as it alleges the bank failed to adequately protect customers from being scammed out of millions of dollars. This resulted in some customers getting scammed out of $90,000 or more.

Scams 64

Scams Online and Mobile Banking Non-Bank Transactions 64

Fintech News

NOVEMBER 10, 2024

The State of Scams: Fall 2024 Biannual Threats Report, released end of October, highlights emerging threats and scams targeting the payment ecosystem, emphasizing the heightened complexity of fraud schemes and the availability of AI-driven tools.

Ransomware 109

Ransomware Data Breach Scams AI 109

Fintech Finance

DECEMBER 6, 2024

Using device-based biometrics, such as fingerprints or facial scans, payment passkeys replace other authentication methods like one-time passwords (OTPs) to make online transactions not only faster and more convenient, but also more secure against fraud and scams. Upon successful authentication, the transaction is completed.

Visa 98

Visa Authentication Scams Payments 98

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 activities involving a high risk to individuals, a DPIA is a legal requirement.

Scams 52

Scams Fraud Prevention Laws Assessments 52

The Payments Association

OCTOBER 28, 2024

Payment leaders must focus on fraud prevention, collaboration with tech and telecom sectors, and public education to mitigate future risks. In the world of digital payments, fraud is an ever-present threat that continues to evolve, creating serious risks for both businesses and consumers. million cases recorded.

Scams 88

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

Fintech News

DECEMBER 17, 2024

Last month, Visa published its annual Holiday Threats Report, which highlighted rising scam trends and provided tips for safer shopping during the holiday season. said Paul Fabara, Chief Risk and Client Services Officer at Visa. The company has also been proactive in raising awareness among consumers.

Fraud Prevention 109

Fraud Prevention AI Account Takeovers Blocks 109

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. Incorporating passive risk signals during onboarding offers another layer of assurance. billion for US consumers, and S$101 million in Singapore.

Deepfake 131

Deepfake Scams Fraud Detection Verification 131

Payments Dive

APRIL 5, 2024

Virtual worlds “can become a haven for scams, fraud, financial losses, and unanticipated purchases that can deplete a family’s real-world financial assets,” CFPB Director Rohit Chopra said.

CFPB 144

CFPB Risk Scams 144

Fintech Finance

OCTOBER 29, 2024

Deborah, Sara and Vicky are backing the campaign, which calls for both banks and the government to put more measures in place to protect financially vulnerable individuals from scams, social exclusion, and fraud. We have to work together to develop and implement policies and practices that actually have an impact on those who are at risk.

Financial Inclusion 128

Financial Inclusion Debit Card Scams Finance 128

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 105

Scams Phishing Deepfake Verification 105

Fintech Finance

SEPTEMBER 24, 2024

Mastercard today updated its Consumer Fraud Risk (CFR) solution to increase the ways it helps protect consumers from Real Time Payment scams. The AI-powered insights give more UK banks greater visibility into potentially fraudulent transactions so they can stop scams before they take place.

Scams 97

Scams Visa AI Consumer 97

Fintech News

SEPTEMBER 2, 2024

Singapore’s Ministry of Home Affairs (MHA) has announced plans to introduce the Protection from Scams Bill in the coming months and is seeking public feedback on the proposed legislation. The proposed bill would allow the police to issue ROs for scams conducted remotely, such as those involving online communications or phone calls.

Scams 109

Scams Blocks Risk Transactions 109

Fintech News

AUGUST 7, 2024

Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong has reiterated the Monetary Authority of Singapore’s (MAS) ongoing efforts to combat cross-border payments scams. Financial institutions involved in these linkages have implemented robust anti-scam controls to prevent exploitation of these channels by scammers.

Cross-Border Payments 107

Cross-Border Payments Cross-Border Scams Transaction Limits 107

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

Fintech News

MARCH 21, 2024

Visa’s latest Biannual Threats Report for Spring 2024 underscores the concerning rise of “pig butchering” scams, showcasing the sophisticated threats plaguing both individuals and businesses in the global payments ecosystem. Visa’s study reveals that these scams have targeted a staggering 10% of surveyed adults.

Scams 111

Scams AI Ransomware On-Demand 111

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. .

Fincen 127

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

Finextra

APRIL 7, 2025

Metro Bank is using technology from AI firm Ask Silver to enable customers to instantly check whether they are at risk of a scam by spotting fraudulent communications.

Scams 80

Scams AI Checks Risk 80

The Fintech Times

FEBRUARY 19, 2025

Feedzai , an AI solution provider in financial crime prevention, is teaming up with payments giant Mastercard , to makeit easier for more banks to identify and stop scams, protecting consumers and businesses globally. As payments continue to evolve, fraudsters are increasingly using AI to scam consumers.

Visa 59

Visa AI Scams Consumer 59

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

Neopay

DECEMBER 24, 2024

In today’s increasingly digital world, fraudsters continue to adapt and exploit vulnerabilities, with Authorised Push Payment (APP) scams posing one of the most significant threats to consumers. According to the Payment Systems Regulator (PSR) APP Fraud Survey 2024, APP scams cost UK consumers 341 million in 2023.

Romance Scams 52

Romance Scams Scams Consumer Compliance 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.

Scams 105

Scams Romance Scams Crime Fraud Prevention 105

Fintech Finance

FEBRUARY 13, 2025

Helping to protect Americans from scams In 2024, Zelle empowered over 73 million consumers with information about the risks of fraud and scams.

Zelle 86

Zelle Credit Union Scams Small Business 86

Fintech News

SEPTEMBER 22, 2024

A new report by LexisNexis Risk Solutions explores the state of digital fraud, revealing a 17% increase in digital fraud attacks within the financial services sector in 2023. Payment fraud, in which stolen payment credentials are used to make illegal transactions, rose by 9% YoY, signaling heightened financial risks for banks.

Accounts 142

Accounts Scams Bots Account Takeovers 142

The Fintech Times

MARCH 31, 2025

This presents an opportunity for banks to communicate risks and warnings to their customers while providing a strong scam defence.” As the UK RTP volume increases and begins to match global averages, there will, however, be a rise in scam threat.

Real Time Payments 64

Real Time Payments RTP Consumer Scams 64

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. Lin Tao ( Prezzee ) highlighted the disproportionate risk her industry faces: Gift cards are inherently attractive to scammers due to their high liquidity and minimal traceability.

Fraud Detection 88

Fraud Detection Fraud Prevention Scams Participant 88

Fintech Finance

SEPTEMBER 30, 2024

This false sense of security is compounded by the fact that 61% of participants have changed their behavior or reduced their use of payment platforms due to fears about cyber scams. ” Respondents were asked about nine different types of scams. 46% cited the possibility of being scammed as a barrier to trust.

Scams 97

Scams Digital Payments Consumer Payments 97

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. If a high risk of scam is detected, the transaction is automatically declined.

Scams 96

Scams AI Push-to-Card Financial Crimes 96

The Payments Association

JUNE 7, 2024

Exploring the transformative impact of social commerce on consumer behaviour and the lurking risks of online scams. Read more

Risk 88

Risk Scams Consumer Financial Crimes 88

PYMNTS

NOVEMBER 16, 2020

The risk of fraud continues to climb for organizations of all sizes as the latest data reveals third-quarter spikes in business email compromise and ransomware scams. This week's B2B Data Digest takes a look at the numbers behind those spikes, finding small businesses to be particularly at-risk.

Business Email Compromise 96

Business Email Compromise Scams Ransomware Email Compromise 96

The Fintech Times

JULY 31, 2024

Cryptocurrency scams have cost users well over $20billion in the last few years, with rug-pulling scams seriously impacting the credibility of the digital asset ecosystem. However, scams are unfortunately an inevitable part of any financial ecosystem – the key is limiting them and helping victims recover.

Scams 84

Scams Cryptocurrency Legal Laws 84

Fintech Finance

JULY 2, 2024

million was lost to APP scams in the first half of 2023. It doesn’t make sense and could have the effect of devaluing consumer education around fraud and scams if a refund is guaranteed. But more importantly, there needs to be more support in educating consumers to prevent fraud and scams in the first place.”

Scams 98

Scams Financial Crimes Crime Payments 98

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. Organisations face a series of challenges, from eroding profit margins to reputational risks to data breaches as fraud grows.

Financial Crimes 76

Financial Crimes Crime Fraud Prevention Due Diligence 76

The Fintech Times

APRIL 6, 2025

The trio explored how easy it is for fraudsters to misrepresent themselves, focusing in on the risks of family impersonation. The conversation then turned to fraud as Polly explained how criminals are turning to WhatsApp to commit crimes.

Real Time Payments 64

Real Time Payments Blockchain Scams AI 64

The Fintech Times

AUGUST 20, 2024

Global cryptocurrency exchange Binance is joining forces with the Macau Judiciary Police to launch a joint anti-scam campaign to increase risk awareness and reduce the risk of fraud in the digital space.

Scams 59

Scams Risk Law Enforcement Transactions 59