Call centers remain a prime target for criminals looking to perpetrate fraud. In 2016, call-center fraud jumped 113% from 2015, according to Atlanta-based Pindrop Labs’ annual Call Center Fraud Report. Fraudulent activity took place with one in every 937 call-center calls, compared to one in 2,000 calls in 2015“With tools …

Part I of this three-part series outlined the development of the realization by the Fed’s payments task forces that payments are complicated, difficult, and expensive to change in order to make them safer and more efficient.  This installment deals with the growing concern about security threats that are shaping the …

Rattle off a selection of payment trends—EMV, tokenization, fraud—and many e-retailers may be beset by apprehension. That’s especially true if the retailer looks to support emerging payment types, according to Matt Herren, director of payments analytics at Computer Services Inc., a Paducah, Ky.-based financial-technology provider. Herren, speaking at the Merchant …

Acquirers are starting to leverage the power of massive—and diverse—pools of information. The challenge lies in unlocking big data’s full potential. Big data has been a hot topic for years as companies look for innovative ways to become more competitive, boost customer retention, and raise their bottom line. Now merchant …

Visa Inc. has struck a settlement with Target Corp. that would reimburse Visa’s credit and debit card issuers up to $67 million for their expenses related to Target’s massive data breach in late 2013. Meanwhile, hackers who stole data from the Ashley Madison Web site have posted seven years of …

Microchip Technology Inc. has launched a new line of touchscreen controllers aimed at making unattended payment terminals at electric-vehicle charging stations more secure. The new line of controllers, which are part of Microchip Technology’s maxTouch family of touchscreen controllers, encrypt data that flow into the terminal via the touch screen, …

Despite a severe drop-off in check use, 61% of consumers continue to write paper checks and continue to face the threat of check fraud, says Abrigo, a financial-crime prevention and risk-management services provider. Released Tuesday, Abrigo’s survey of 1,059 U.S. consumers also found that 45% of respondents reported being a …

New technologies such as generative AI are making it easier for fraudsters to scam consumers, according to the spring edition of Visa Inc.’s 2024 Biannual Fraud Threats report, just released. What makes generative AI such an effective fraud tool is that it can be used to convince consumers to give …

With money mule activity on the rise, Nacha, the governing body for the automated clearing house network, has released an infographic to educate consumers about unwittingly becoming money mules. Money mules help criminals launder money from online scams, fraud or crime, such as human and drug trafficking, unknowingly or knowingly. …

As digitalization of payments information continues to permeate society, the allure of getting a hold of that data illicitly is unabated. Already, for the first half of 2023, the number of U.S. data compromises is higher than the total compromises for every full year between 2005 and 2020, except for …