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.

Making Sense of Why SOC 2 Compliance Matters for Payments
Making Sense of Why SOC 2 Compliance Matters for Payments
October 18, 2024  |  Security & Fraud

In the payment innovation space, security, trust and compliance are three non-negotiable pillars. Their importance is growing against an operational backdrop where data extortion and...

READ MORE >
This Week in B2B: Payments Get Interesting When Finance Teams Get Smarter
This Week in B2B: Payments Get Interesting When Finance Teams Get Smarter
October 17, 2024  |  B2B Payments

For decades, B2B payments were an unglamorous yet essential component of corporate finance. Now, B2B payments have started to become a little more glamorous as...

READ MORE >
Retailers Rethink Policies as Returns Fraud Spikes Everywhere
Retailers Rethink Policies as Returns Fraud Spikes Everywhere
October 17, 2024  |  Retail

Returns fraud is a growing global issue, costing retailers billions annually. Recent estimates suggest that fraudulent returns account for up to 13% of total returns...

READ MORE >
US Treasury: AI Helped Recover and Prevent $4 Billion-Plus in Fraud
US Treasury: AI Helped Recover and Prevent $4 Billion-Plus in Fraud
October 17, 2024  |  artificial intelligence

The U.S. Treasury Department said artificial intelligence (AI) has helped fuel a fraud/improper payments recovery. The department announced Thursday that its “technology and data-driven” approach...

READ MORE >
Why ‘Good Enough’ Isn’t Winning Banks’ Fight Against Fraud
Why ‘Good Enough’ Isn’t Winning Banks’ Fight Against Fraud
October 17, 2024  |  Security & Fraud

How do you deal with an entity that is so malicious it will use a natural disaster to commit cybercrimes? It’s happening in the wake...

READ MORE >
This Week in Web3: Usability and Network Expansion Drive Stablecoin Momentum
This Week in Web3: Usability and Network Expansion Drive Stablecoin Momentum
October 16, 2024  |  Blockchain

For nearly its entire history, cryptocurrency has been searching for a sustainable product-market fit. From payments to speculative investments to supply chain management, the blockchain...

READ MORE >
Microsoft Projects Wave of Passkey Signups as Password Attacks Double
Microsoft Projects Wave of Passkey Signups as Password Attacks Double
October 16, 2024  |  Cybersecurity

Speaking at a recent cybersecurity conference, Microsoft’s Sangeeta Ranjit presented some disturbing statistics. “In the last year alone, we saw password attacks almost double at Microsoft —...

READ MORE >
Swift Adds New Tools to AI Fraud Prevention Offerings
Swift Adds New Tools to AI Fraud Prevention Offerings
October 16, 2024  |  Fraud Prevention

With scammers becoming more and more sophisticated, Swift is bolstering its AI-enhanced fraud detection capabilities. The global messaging service announced Wednesday (Oct. 15) that it will begin offering this...

READ MORE >
JPMorgan: State and Local Governments Confront Obstacles to Digital Disbursements
JPMorgan: State and Local Governments Confront Obstacles to Digital Disbursements
October 15, 2024  |  Digital Payments

From the state taxing authorities to the state administrators who disburse federal funds to the local utility companies, state and local governments distribute trillions of...

READ MORE >