PYMNTS-MonitorEdge-May-2024

fraud

Fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. Fraud can violate civil law, a criminal law, or it may cause no loss of money, property or legal right but still be an element of another civil or criminal wrong.

Fraudsters Attack B2B Payments as Supply Chains Prove to Be Vulnerable
Fraudsters Attack B2B Payments as Supply Chains Prove to Be Vulnerable
September 30, 2024  |  Security & Fraud

As the world of business payments continues to grow, so does the threat of fraud. While to the rest of the world, B2B payments represent...

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FDIC Consent Orders Show Internal and External Risk Exposure
FDIC Consent Orders Show Internal and External Risk Exposure
September 27, 2024  |  Security & Fraud

A spate of recent enforcement decisions from the FDIC underscores risks that banks face — external as well as internal ones, where employees have allegedly...

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CFOs Suit Up for Cyberwar as Risk Management Evolves
CFOs Suit Up for Cyberwar as Risk Management Evolves
September 27, 2024  |  Security & Fraud

Managing risk effectively is one of the best ways to unlock business growth. Risks range from financial and macro events to geopolitical and supply chain...

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Making Sense of How Point-to-Point Encryption Protects Payment Data
Making Sense of How Point-to-Point Encryption Protects Payment Data
September 27, 2024  |  Cybersecurity

The payments landscape has transformed more in the past five years than the prior 50. And driving that change is a host of emerging behavioral...

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Fidelity Investments Restricts Cash Management Accounts to Shut Down Fraud
Fidelity Investments Restricts Cash Management Accounts to Shut Down Fraud
September 27, 2024  |  Security & Fraud

Fidelity Investments reportedly shut down an online check fraud scheme similar to one that recently struck J.P. Morgan Chase by tightening some restrictions on cash...

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The Week in AI: Chatbots Fuel Cybercrime; Google, Meta and OpenAI Announce Upgrades
The Week in AI: Chatbots Fuel Cybercrime; Google, Meta and OpenAI Announce Upgrades
September 27, 2024  |  Artificial Intelligence

Artificial intelligence is reshaping industries, from cybercriminals exploiting chatbots to Google supercharging Gemini for business breakthroughs. Meanwhile, Meta and Microsoft are using AI to transform...

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Visa Buys Featurespace to Add AI-Based Real-Time Fraud Defense
Visa Buys Featurespace to Add AI-Based Real-Time Fraud Defense
September 26, 2024  |  Acquisitions

Visa says it is acquiring payments protection technology firm Featurespace to boost its anti-fraud capabilities. “Since its inception out of Cambridge University’s engineering department, Featurespace has developed innovative...

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Stablecoins, Tokenization and Caroline Ellison Headline This Week in Web3
Stablecoins, Tokenization and Caroline Ellison Headline This Week in Web3
September 25, 2024  |  Blockchain

Cryptocurrency’s wild ride isn’t over yet. Regulators are closing in, and innovation is speeding up. It’s safe to say that the blockchain landscape remains a...

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FTC Enforcement Sweep Targets ‘Fever Pitch’ of AI Scams
FTC Enforcement Sweep Targets ‘Fever Pitch’ of AI Scams
September 25, 2024  |  artificial intelligence

The Federal Trade Commission (FTC) announced five law enforcement actions that it said are part of a crackdown on deceptive artificial intelligence (AI) claims and...

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