Card fraud

Despite some declines, payments fraud remains a major concern for credit unions. Here's how experts suggest tackling the problem.

One New Jersey credit union is starting 2018 with an unexpected crash course in fraud prevention, but there may only be so much anyone can do to curtail the problem.

Breaches help crooks diversify, but stolen cards thrive in the black market, writes Angel Grant, director at RSA's fraud and risk intelligence unit.

The anxiety that a crook is using a lost or stolen card can be a powerful lure to mobile technology, Citigroup has learned.

With most of the major card brands deciding to no longer require signature authorization on card transactions, merchants want to see more network rules go the way of the dinosaur.

The debit card is growing in popularity in the U.S. for retail transactions, and consequently FIs are making debit a top priority. However, the strength of debit is a double-edged sword.

American Express is falling in line with Mastercard and Discover in eliminating the signature requirement for authorization on all card transactions at the point of sale, starting in April of 2018.

Nearly half of the cardholders in the U.S. have had at least one card reissued in the past year, with those experiencing fraud multiple times saying they have had nearly five cards reissued.

Credit unions are taking steps to ward off fraud as holiday shopping season gets underway.

A week before he is due to resign, CFPB Director Richard Cordray sent a letter to 29 CEOs at banks, credit unions and other financial companies, urging them to help consumers exert more control over credit cards, debit cards and other payment methods.

Most larger credit unions have reissued chip-enabled cards, but some small CUs have lagged — and it’s nearly impossible to get an industry-wide picture of where adoption stands.

It has now been two years since the EMV fraud liability shift took effect in the U.S. for most companies. This is enough time to evaluate the EMV migration's effect on fraud, and whether it can be blamed for anything happening in digital channels.

The massive data breach impacted nearly half of all Americans, and credit unions will now need to be on guard for a variety of fraud types that could arise as a result.

Mastercard is unveiling an anti-fraud tool that’s been in development for more than three years, bringing a new way to pinpoint cards and accounts at the highest risk of fraud following data breaches.

Historically, the industry has placed much greater emphasis on preventing fraud at the point of transaction without doing enough to stop fraudulent account openings, writes Melissa Townsley, co-founder and CEO of GIACT systems.

Credit card issuers are beginning to see significant upticks in credit card account charge-offs, with Discover the latest to report a spike, flagging a 55% hike in losses during the most recent quarter. But what exactly is driving the increase?

The simplest scams are sometimes the hardest to thwart. Rather than redesign its prepaid card with added security, InComm is redesigning the packaging in a way that should render stolen cards unusable.

U.K. corporations are increasingly worried about business payment fraud, and while more than half fear attacks from the outside, concerns over insider fraud have spiked, according to a new report from Bottomline Technologies.

Family Savings CU helped police catch a suspect in a crime spree worth more than $43,000, but analysts say card skimming remains so pervasive that it may be nearly impossible to stop.

The U.S. shift to EMV technology has dramatically reduced levels of counterfeit card fraud, but merchants and the card networks are divided on whether it caused the expected shift of fraud to digital channels.