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.

New Tech Helps Merchants, Banks Beat Back Rising Tide of Friendly Fraud
New Tech Helps Merchants, Banks Beat Back Rising Tide of Friendly Fraud
June 02, 2022  |  Fraud Prevention

Sometimes the biggest threats come from the foes who pose as friends, spinning tales that seem legitimate and often urgent. And then comes the realization: Get...

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The No. 1 Reason Consumers Lose Trust in Online Merchants: Stolen Personal Data
The No. 1 Reason Consumers Lose Trust in Online Merchants: Stolen Personal Data
June 01, 2022  |  eCommerce

How much consumers trust the grocers and retail merchants with which they shop online correlates with how long they have used those merchants’ services, according...

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FTC: Financial Education Services Ran $213M Pyramid Scheme
FTC: Financial Education Services Ran $213M Pyramid Scheme
June 01, 2022  |  Security & Fraud

The Federal Trade Commission (FTC) has acted against credit repair company Financial Education Services, accusing it of running a $213 million pyramid scheme, according to...

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PYMNTS AM Radar: Crypto Counter-Lobby; Big Paycheck Reality Check; Crypto Money Laundering; ICYMI
PYMNTS AM Radar: Crypto Counter-Lobby; Big Paycheck Reality Check; Crypto Money Laundering; ICYMI
June 01, 2022  |  Economy

It’s Wednesday, June 1 and it’s a special day in the NFL due to a recent rule change that allows two players in the off-season...

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Banks’ Battle vs the Fraudsters May Be Won in the Cloud
Banks’ Battle vs the Fraudsters May Be Won in the Cloud
June 01, 2022  |  Fraud Prevention

David Excell, founder of Featurespace, tells Karen Webster how cloud-based and other advanced tech are finding scammers while also surfacing better insights so that legitimate...

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UK to Close Online Advertising Consultation Eyeing Stricter Rules, Regulator
UK to Close Online Advertising Consultation Eyeing Stricter Rules, Regulator
May 31, 2022  |  Regulation

Google, Meta, TikTok and other companies in the online advertising industry may face a new regulatory landscape in the United Kingdom as a result of...

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PYMNTS AM Radar: Indigestion; Connected Demand; Weaponized Fraud; Super Apps to the Rescue; ICYMI
PYMNTS AM Radar: Indigestion; Connected Demand; Weaponized Fraud; Super Apps to the Rescue; ICYMI
May 31, 2022  |  Delivery

It’s Tuesday, May 31 and President Joe Biden is meeting with Federal Reserve Chair Jerome Powell today to discuss inflation and the state of the...

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Authorized Push Payment Fraud Challenges CFPB’s Open Banking Stance
Authorized Push Payment Fraud Challenges CFPB’s Open Banking Stance
May 30, 2022  |  Regulation

Despite the absence of specific legislation mandating the use of open banking in the U.S., this practice is growing across the country. Open banking —...

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Fraud Played ‘Significant’ Role in $163B Leak from Pandemic-Era Unemployment System
Fraud Played ‘Significant’ Role in $163B Leak from Pandemic-Era Unemployment System
May 27, 2022  |  Security & Fraud

Fraudsters bilked about $163 billion from the unemployment system during the COVID-19 pandemic, according to the semiannual report to Congress by the Office of Inspector...

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