In the mad dash to secure Paycheck Protection Program (PPP) funds, small businesses have faced confusion, anxiety and often a lack of clarity as to when they would receive capital – if at all. The process was chaotic for the lenders, too, creating greater potential...
Fraud warnings continue to grow louder as bad actors uncover new opportunities to take advantage of market volatility and other aspects of the unique circumstances of the pandemic. For the B2B fraud landscape, the threat is particularly large. A recent regulatory notice issued by the...
Fraud was all over the headlines this past week, with top stories related to Travelex’s ransomware payment, Luckin Coffee’s internal accounting fraud investigation, and new research anticipating an ongoing surge in payments fraud. B2B payments are far from immune to fraud, and in this week’s...
As B2B fraud threats like the business email compromise (BEC) scam or internal employee theft continue to grow for businesses large and small, experts are urging business owners and executives to take the lead in combatting fraudsters. Indeed, the latest cases rounded up by PYMNTS...
May 12, 2020
In the mad dash to secure Paycheck Protection Program (PPP) funds, small businesses have faced confusion, anxiety and often a lack of clarity as to when they would receive capital – if at all. The process was chaotic for the lenders, too, creating greater potential for fraud amid an unprecedented SMB stimulus effort. Only days […]
September 13, 2019
Pretty much every consumer knows the pain of filling out applications for automotive loans, mortgages and other types of borrowing, of having to produce pay stubs or W-2s to prove...
October 02, 2019
The Reserve Bank of India is trying to reassure savers that all is well after a recent crisis involving Punjab and Maharashtra Co-operative Bank (PMC). In a tweet on Tuesday (Oct. 1), India’s central bank addressed “rumours in some locations about certain banks, including co-operative banks, resulting in anxiety to depositors.” “RBI would like to […]
August 13, 2018
In a move that has surprised military families, the Consumer Financial Protection Bureau (CFPB) is planning to suspend routine examinations of lenders for violations of the Military Lending Act, which...
April 27, 2018
India might be dealing with more illegal activity at a bank. This time, it’s an alleged 6 billion rupee ($90 million) case of loan fraud at IDBI Bank. According to...
