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In-Car Payments To Swell to 4.7 Billion; ACI Targets Real-Time Payments Fraud; Western Union Taps Fiserv Exec as CEO
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ACI’s Network Intelligence Technology Takes Aim at Real-Time Payments Fraud
As criminals increasingly target real-time payments networks with fraud scams, ACI Worldwide Inc. on Monday announced the launch of its proprietary Network Intelligence Technology as part of its ACI Fraud Management platform. The new technology enables banks, processors, acquirers, and networks to augment fraud-prevention strategies by allowing them to share …
Read More »New Twists in Online Fraud
No longer content to use a stolen credit card, criminals are targeting e-commerce merchants for everything from customer account data to loyalty points to BNPL fraud. Criminals follow the money, and, with e-commerce booming and more merchants selling online than ever before, it’s no surprise that fraudsters are flocking to …
Read More »Moving Payments Out of the Apple App Store; Contactless Limits and Fraud; Purchase Scams Top Fraud List
Purchase Scams Top Fraud List and other Digital Transactions News briefs from 10/7/21
Purchase scams, in which consumers pay for goods that never arrive, was the number-one fraud type in the second quarter in terms of card-fraud attempts, beating out social-engineering frauds, according to fraud-prevention firm Feedzai. The top city for overall fraud attempts was Las Vegas, with fraud up 411% in the quarter …
Read More »What to Expect from the New CFPB Director; Holiday Fraud Takes No Rest; Plus Weekly Recap
COMMENTARY: The Holidays Are Coming, But Transaction Fraud Doesn’t Take Holidays
Since the global pandemic turned the world upside down, millions of consumers have taken their in-person shopping habits online. Fraudsters have noticed this shift in consumer shopping behavior and are capitalizing on it by trolling and exploring vulnerabilities throughout users’ entire online shopping journeys. While the holidays may seem far …
Read More »Plaid in Nuvei, Circle Deals; The Big Rise in CNP Fraud; Repay Teams with Veem for Cross-Border Payments
A New Report Shows How the Growth in E-Commerce Is Fueling a Big Rise in CNP Fraud
Despite the percentage of card-not-present fraud transactions steadily hovering in the 10% to 13% range between the first quarter of 2020 and the same period in 2021, the average ticket size for fraudulent CNP transactions has steadily grown during that time, says a report from fraud-prevention platform provider Vesta Corp. …
Read More »Cost of Fraud Increases; Fiserv Expands Vending Operations; Installment Payments Arrive for Rent
