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.

Ex-Wirecard CEO Ordered to Pay $155 Million Over Unpaid Loans
Ex-Wirecard CEO Ordered to Pay $155 Million Over Unpaid Loans
September 05, 2024  |  Legal

Former Wirecard CEO Markus Braun’s legal troubles are reportedly worsening. A judge ordered Braun and two other executives from the defunct German payments company to...

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Visa’s New A2A Offering ‘Opens’ Choice and Security Via Direct Bank Transfers in the UK
Visa’s New A2A Offering ‘Opens’ Choice and Security Via Direct Bank Transfers in the UK
September 05, 2024  |  Payments Innovation

Direct debits have been popular through the decades — across a variety of use cases — especially when it comes to bill payments and subscriptions....

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Liability Remains Murky Despite Reduction in UK Push Payments Fraud Fine
Liability Remains Murky Despite Reduction in UK Push Payments Fraud Fine
September 04, 2024  |  Security & Fraud

It’s said in jurisprudence that hard cases make bad law. Bad laws have the unintended consequences of hurting society, encouraging bad behavior, or both. In...

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OCC’s Hsu: Agility and Teamwork Critical as Banks Confront New Risks
OCC’s Hsu: Agility and Teamwork Critical as Banks Confront New Risks
September 04, 2024  |  Security & Fraud

Banks are confronting new, digital risks, and guarding against them demands a more agile, teamwork-focused approach. Michael Hsu, acting Comptroller of the Currency, said in...

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Report: UK Regulator Makes Massive Cut to Fraud Reimbursement Plan
Report: UK Regulator Makes Massive Cut to Fraud Reimbursement Plan
September 04, 2024  |  Security & Fraud

The U.K.’s payment regulator is reportedly making a drastic cut to its fraud reimbursement plan. Banks and payment companies in England would have had to...

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FTC Reports Tenfold Increase in Scams Involving Bitcoin ATMs
FTC Reports Tenfold Increase in Scams Involving Bitcoin ATMs
September 03, 2024  |  Security & Fraud

As bitcoin ATMs have been installed in more locations, they have become a “payment portal for scammers,” the Federal Trade Commission (FTC) said in a...

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From Partnerships to Problem Banks: FDIC Report Looms Large
From Partnerships to Problem Banks: FDIC Report Looms Large
September 03, 2024  |  Regulation

Technology and third-party relationships — with service providers and digitally-focused FinTechs — have helped transform banks’ operations. Banks have been able to pivot fully into...

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Intellicheck CEO Warns: Every Data Breach Is a Step Closer to Someone Else Stealing Your Life
Intellicheck CEO Warns: Every Data Breach Is a Step Closer to Someone Else Stealing Your...
September 03, 2024  |  Security & Fraud

In the wrong hands, digital footprints can turn into a blueprint for fraud. Particularly as identity theft proliferates and becomes more sophisticated, data breaches are...

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Finexio CEO: Security Offers Competitive Edge in Payments Landscape
Finexio CEO: Security Offers Competitive Edge in Payments Landscape
September 03, 2024  |  Opinion

Staying ahead in fraud prevention is a competitive advantage for today’s businesses, Finexio CEO Ernest Rolfson writes in a new PYMNTS eBook, “Beyond the Horizon:...

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