Payment fraud

A coordinated effort would make it possible to develop the widely applicable standardized processes we need by collecting perspectives from every dimension of the payments process, writes Monica Eaton-Cardone, COO of Chargebacks 911 and CIO of its parent company Global Risk Technologies.

Tax refund payment fraud has become far more sophisticated with attacks targeting tax professionals, human resource departments and even payroll offices, writes Deb Geister, financial crimes strategist and subject matter expert for NICE Actimize.

Some companies believe that their employees will know the difference between legitimate versus spoofed emails. While this might be true some of the time, even one mistake can be costly, writes David Barnhardt, executive vice president of product at Giact.

Tax-related identity theft can be especially worrisome, not only for the monetary consequences it carries, but tax documents often contain highly sensitive information, like Social Security numbers, writes Paige Schaffer, president and COO of Generali Global Assistance’s Identity and Digital Protection Services Global Unit.

Crooks are going after automated tax communications, text and streaming video. Here's what payment companies should do to educate their consumers, according to Robert Fodor, chief data scientist and vice president of fraud for Interac.

The number of IoT devices is growing quickly, but not all are properly connected to security systems, according to Pip Courcoux, sales and product manager for CLIQ Systems at Abloy UK.

Compliance officers should demand better means to quickly gather, organize, and view data regarding accounts and transactions that may be partaking in financial crime, argues Elsa Chan, head of Americas for ComplyAdvantage.

American Banker won 11 journalism awards during the past week, including its first Grand Neal, the highest of the honors announced at this year's Jesse H. Neal business journalism awards.

MoneyGram is investing more time and technology in helping law enforcement agencies spot the scammers moving money on its network.

Users don’t have all the tools they need to ensure the security of their mobile devices, so it’s all the more important for providers of mobile financial services to help users by hardening mobile apps with technology, writes Samuel Bakken, senior product manager at OneSpan.

First it was the signatures. Now the biggest U.S. banks could be looking to get rid of card numbers, too.

Readers debate the odds of legislative reform to Fannie Mae and Freddie Mac, consider the growing problem of "friendly fraud," weigh ways to avoid reputation problems and more.

However, before we put all of our eggs in the blockchain basket, we need to examine whether the technology is ready to protect merchants from chargebacks and fraud, contends Suresh Dakshina, president of Chargeback Gurus.

Even as regulations are getting tougher, criminals are getting more sophisticated and creative, writes Ron Teicher, CEO of EverCompliant.

Fraud attacks against online food and beverage businesses in the U.S. increased by nearly 80 percent in the past year, as fraudsters have decided that dining establishments are the perfect places to test stolen card credentials.

Reports of improper charges by perpetrators who know the victim soared last year. Issuers and card networks are failing to tighten security, clearly label transactions and police chargebacks, critics say.

An overwhelming amount of transactions can cause noncompliant payments to fall through cracks. New technology such as AI can be helpful, says Josephine McCann, a senior marketing associate at AppZen.

A proactive and preventive security strategy will go a long way to building consumer trust and ensuring continued loyalty, writes Maria Allen, global head of financial services for Unisys.

Regulators have taken a critical look at AML controls and handed out significant fines to financial institutions found to be lacking, according to Chad Hetherington, global vice president of professional services for NICE Actimize.

The days of odd emails are gone. Phishing has become a complex big business for crooks, according to Rafael Lourenco, an executive vice president at ClearSale.