Only 32% of businesses are “very” or “extremely” satisfied with their current anti-fraud methods, according to “Risk And Resilience,” a PYMNTS and TreviPay collaboration based on a survey of 150 executives at companies with $10 million to $1 billion in annual revenues. Get the report:...
While 86% of United States consumers are aware of cryptocurrency, its actual ownership or use remains relatively uncommon, with just 16% of consumers saying they have ever invested in, traded or otherwise made use of it. Interest in cryptocurrency is growing, however, and 38% of...
While cryptocurrencies have the potential for faster cross-border transactions at a lower cost, common misconceptions hold back broader consumer adoption. In the Digital Fraud Tracker, Wirex’s Tony Lees explains how crypto-linked debit cards, stringent onboarding processes and vigilant monitoring systems can help simplify use and...
While most consumers have yet to purchase or use cryptocurrencies, they are interested in and aware of crypto, setting the stage for near-term growth as technologies supporting cryptocurrency transactions continue to mature. Some consumers see cryptocurrencies as a promising new investment asset that could even...
The Financial Crimes Enforcement Network (FinCEN) announced Wednesday (March 16) that it will be supporting the Russian Elites, Proxies and Oligarchs (REPO) Task Force, which is trying to crack down on illicit actors accessing international finance. FinCen will be supporting the Treasury’s efforts on boosting...
Global real-time payments software firm ACI Worldwide is introducing a fraud scoring platform powered by machine learning to deliver real-time security and fraud prevention to financial institutions (FIs) of every size, according to a press release on Wednesday (March 9). ACI Fraud Scoring Services (FSS)...
Credit card fraud is a pressing issue for consumers, merchants, banks and card providers, costing a total of $32 billion in 2021 alone. This number is expected to swell to $38.5 billion by 2027, primarily fueled by an increased reliance on online shopping. Fraudsters perpetrating schemes online can...
The first iteration of 3D Secure was hailed as a online fraud game-changer, but its effectiveness came at the cost of consumer convenience — and, ultimately, conversion. In the Digital Fraud Tracker, American Express’ JJ Kieley explains how the overhauled 3D Secure 2.0 system will...
Credit card fraud is a problem that affects banks, merchants, credit card providers and individual consumers all at once, as fraudsters deploy a wide variety of different tactics to pay for goods and services or drain customer accounts of funds and data. Card providers have...
