Page 7 - Fraud Report News Today

Banks and specialised deposit-taking institutions (SDIs) have been urged to invest in setting up strong cybersecurity systems to help combat cyber fraud and reduce financial losses.   Mrs. Ursula Owusu-Ekuful,  Minister of Communications and Digitalisation, who gave the advice,  also encouraged them to invest in requisite digital forensic capabilities to collect, preserve,…

If digital matchmaking platforms lack the means to protect their users from, the loss of trust could threaten their reputation and their future.

(The Center Square) – A federal indictment unsealed this week accused seven people of stealing $11 million from 50 victims in West Michigan and nationwide, most of whom were elderly

Consumer expectations continue to rise with 85% of people expecting businesses to respond to fraud concerns.

New Experian report finds businesses need to better meet evolving consumer security expectations

Almost €85m was defrauded from people in Ireland last year, according to new figures from Banking and Payments Federation Ireland - an increase of 8.8% on 2021. The latest FraudSMART Payment Fraud Report outlines how card fraud accounted for over 95% of fraudulent payment transactions by volume but only 40% of fraud losses at €33.4m. It said that most of the increase was driven by online card fraud or "card not present" fraud where a criminal uses the victim's compromised card ...

Today PayU, the leading online payment service provider operating in over 50 emerging markets, announces the integration of two new payments methods – Mastercard Click to Pay and Capitec Pay. The integration of these payments methods will enable merchants to reduce checkout abandonment and fraud via seamless and secure authentication, further solidifying PayU’s position as the

Experts say there are several reasons why seniors are often targets of scammers. Seniors may be more trusting than others and oftentimes have more access to cash.

Speculation for the cause of the split centers around the fact that Triumph was giving aggressive estimates.

At least three financial fraud types saw some exponential growth in 2022, compared to the numbers recorded in 2021. The three were cyber/email fraud, fraudulent withdrawals and impersonation. This is contained in the Bank, Special Deposit-taking Institutions (SDIs) and Payment Service Providers (PSPSs) Fraud Report for 2022, published by the…