There’s no soft version, no smoothing it over. Companies charged with protecting people’s data lost ground in 2020, after an abysmal 2019 of breathtaking data breaches. Yes, the pandemic explains a great deal of the new action. Preparedness (or lack thereof) explains the rest. “This...
P2P payment apps — including third-party solutions like Venmo and CashApp as well as first-party banking apps — allow users to seamlessly pay each other for informal services and goods and have recently become incredibly popular. Some retail establishments are also adding P2P-enabled payments to...
Fraudsters are deploying tactics ranging from impersonating tax officials to selling fake PPE on peer-to-peer (P2P) payment apps amid the COVID-19 pandemic. Fighting these threats requires an equally wide-ranging defense, says Jamie Armistead, vice president of Zelle. In this month’s Preventing Financial Crime Playbook, Armistead...
COVID-era fraudsters use scams that range from impersonating tax officials to selling fake PPE on P2P payment apps. Fighting these threats requires an equally wide range of defenses, says Jamie Armistead, Zelle vice president. In this month’s Preventing Financial Crime Playbook, Armistead explains how artificial intelligence (AI) can offer a bird’s eye view of suspicious transactions...
Dining has gone digital. A fact of our new reality that has snapped sharply into focus over the last half year as restaurants of all sizes and descriptions have had to rapidly reset their operations for a world where restaurants were first closed down entirely...
Isn’t it just like a crook to exploit a bad situation? COVID-19 is an ideal example, as cold-hearted fraudsters are siphoning off funds designated for legitimate people and businesses. PYMNTS’ September Preventing Financial Crimes Playbook, done in collaboration with NICE Actimize, analyzes the pandemic-era fraud landscape...
Fraudsters leverage an array of schemes to conduct financial crimes, including digital methods like botnets and brute force hacks as well as old-school ones like social engineering. One of the most pervasive — which also affects customers as much as or more than banks —...
Although still a horrific event, the ongoing coronavirus crisis has, in many ways, created positive outcomes. In the world of payments, the pandemic introduced a once-in-a-lifetime event to accelerate digitization and adoption of electronic payments, much to the benefit of all parties involved. Yet unsurprisingly,...
Identity fraud is pervasive threat, with fraudsters stealing identities and constructing fake ones to steal $16.9 billion in 2019. Technologies like video onboarding and artificial intelligence (AI) have shown promise in facing this threat, but each is vulnerable when deployed alone. In this month’s Fighting...
