Revolut is reportedly facing a lawsuit tied into a wave of anti-fraud complaints. As Bloomberg News reported Monday (Dec. 2), the fraud claim was filed by Serbian firm Terna Energy Trading. The energy company had instructed its bank to send a payment of 700,000 euros ($735,880) to a...
British lenders are reportedly divided over whether to charge scam victims under new fraud reimbursement rules. Beginning Oct. 7, banks in the U.K. will be required to reimburse customers who fall victim to authorized push payment (APP) fraud for sums of up to 85,000 pounds. But...
Mastercard has introduced what it says are new protections against real-time payment scams. The update to the company’s Consumer Fraud Risk (CFR) solution, announced Tuesday (Sept. 24), uses artificial intelligence (AI) to provide British banks with more visibility to prevent fraudulent transactions. The announcement comes just days ahead...
FICO is working with Jersey Telecom (JT) to push back against authorized push payment fraud. The analytics software company said Wednesday (Sept. 18) it has collaborated with the British Channel Islands-based telecom to develop a solution that allows for “direct, near real-time intervention” to protect customers against fraud. “FICO and...
December 03, 2024
As demand for faster payments grows, so does the risk of fraud. More than 170 million U.S. consumers received at least one disbursement in the past year, highlighting the need for rapid transactions. According to a PYMNTS Intelligence report, “Protecting Accelerated Disbursements From Fraud,” in collaboration with Ingo Payments, the speed of these payments creates […]
May 24, 2024
Today’s rapidly evolving payments and financial landscape brings with it both challenges and opportunities. And the challenges and opportunities center around effective authentication, as the need for advanced security measures...
March 21, 2024
It’s often said that history repeats itself. It’s hard to look at the current state of play regarding instant, or real-time, payments in the EU and U.K. right now and...
March 13, 2024
The world’s cybercriminals all share one thing in common: they understand people can be exploited. After all, people make mistakes. They fall for scams, and frequently either ignore or fail...
December 02, 2024
Revolut is reportedly facing a lawsuit tied into a wave of anti-fraud complaints. As Bloomberg News reported Monday (Dec. 2), the fraud claim was filed by Serbian firm Terna Energy Trading. The energy company had instructed its bank to send a payment of 700,000 euros ($735,880) to a Revolut account it thought was owned by a business partner. […]
September 30, 2024
British lenders are reportedly divided over whether to charge scam victims under new fraud reimbursement rules. Beginning Oct. 7, banks in the U.K. will be required to reimburse customers who...
September 24, 2024
Mastercard has introduced what it says are new protections against real-time payment scams. The update to the company’s Consumer Fraud Risk (CFR) solution, announced Tuesday (Sept. 24), uses artificial intelligence (AI) to provide...
September 18, 2024
FICO is working with Jersey Telecom (JT) to push back against authorized push payment fraud. The analytics software company said Wednesday (Sept. 18) it has collaborated with the British Channel Islands-based telecom to develop...
