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.

FTC: Fraud Losses Surged 30% Last Year, Cost Consumers $8.8B
FTC: Fraud Losses Surged 30% Last Year, Cost Consumers $8.8B
March 01, 2023  |  Security & Fraud

Fraud has a price tag — and it keeps going up. As reported by the Federal Trade Commission last week, consumers lost $8.8 billion last...

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PYMNTS Intelligence: Technology Is Needed to Safeguard Faster Payments
PYMNTS Intelligence: Technology Is Needed to Safeguard Faster Payments
March 01, 2023  |  B2B Payments

Robust fraud prevention measures, having always been an important tool for businesses, are now a must. When payments took hours or days to go through, companies had more...

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AI Fraud Detection Efforts Fall Short Without Proper Data and Formatting
AI Fraud Detection Efforts Fall Short Without Proper Data and Formatting
March 01, 2023  |  Artificial Intelligence

It’s become impossible to ignore the recent boom in artificial intelligence interest, and while AI is not new to the payments space, its utility is...

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Algorand Hack Drains $9.6M From Crypto Investor Wallets 
Algorand Hack Drains $9.6M From Crypto Investor Wallets 
February 28, 2023  |  Cryptocurrency

Proof-of-stake blockchain cryptocurrency protocol Algorand is urging users to withdraw their funds from MyAlgo wallets. This is as MyAlgo, the native wallet provider for Algorand, reported Monday...

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Retail Crypto Investors Find Hope in Recent Regulatory Actions
Retail Crypto Investors Find Hope in Recent Regulatory Actions
February 28, 2023  |  Cryptocurrency

The cryptocurrency market is off to a better start in 2023 than many expected post-FTX. This, as a spate of recent industry actions and regulatory...

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Unpacking the Ying and Yang of Modern Fraud Tools
Unpacking the Ying and Yang of Modern Fraud Tools
February 28, 2023  |  Security & Fraud

As attractive as new technology and digital tools appear, they also have a darker side. “There’s a bit of Ying and Yang,” Gerhard Oosthuizen, chief...

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AI Becomes the Human-Machine Bridge That Makes Payments Safe and Smart
AI Becomes the Human-Machine Bridge That Makes Payments Safe and Smart
February 28, 2023  |  Artificial Intelligence

As the world buzzes about ChatGPT, the payments and financial sectors are already sizing up advanced new artificial intelligence (AI) tools relating to how they...

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Invoice Verification Slows Pace of Real-Time Business Payments Fraud
Invoice Verification Slows Pace of Real-Time Business Payments Fraud
February 28, 2023  |  B2B Payments

Business-to-business (B2B) payments are transforming as companies of all sizes swap checks and traditional payment methods for real-time payments, embedded finance solutions and banking-as-a-service (BaaS)...

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FinCEN Warns of Rise in Mail-Related Check Fraud
FinCEN Warns of Rise in Mail-Related Check Fraud
February 27, 2023  |  Security & Fraud

The Financial Crimes Enforcement Network (FinCEN) is warning banks of a nationwide surge in check fraud. “Criminals have been increasingly targeting the U.S. Mail and...

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