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Fraud losses exceed actual monetary amount stolen Mobile is the new target International criminal organizations are significant players One of the harsh realities of fraud: actual LOSSES due to fraud exceed the monetary amount involved in the transaction. Digital Transactions reported on LexisNexis Risk Solutions’ “True Cost of Fraud” study for e-commerce and retail merchants,…
In case you missed it, over the past month, we have published incredible content on our OrboNation Blog and Modernizing Omnichannel Check Fraud Detection. Review the latest OrboNation Newsletter online or via PDF download.
Congratulations go out to Symcor Inc. on their 25th anniversary in business! Symcor got its start as a joint venture between three of Canada’s largest financial institutions (the Toronto Dominion Bank, Royal Bank of Canada, and Bank of Montreal), and evolved from processing checks and printing financial documents into a market-leading organization with unique expertise…
August, it turns out, is the most popular month for fraud “Back to School” purchasing and new campus arrivals at college make for good targets Campus wifi can be a threat as well We’ve always known that “back to school” makes August a big month for retailers, but here’s a little-known fact: August, as it…
In any industry, dealing effectively and efficiently with suppliers is a challenge. This challenge is enormously compounded in the world of liquor sales, a maze of regulations and restrictions that change from region to region and bedevil even the most experienced manager.
Wanna-be “influencers” targeted Scammers are often tripped up by the language gap Detecting patterns stops fraud The Action 10 News Troubleshooter Series took a look at a popular scam that “fishes” for potential influencers by offering to pay them in return for allowing a “decal wrap” advertising a popular energy drink on their automobile. In…
A commentary at Digitaltransactions.net by Peter Jensen, chief executive of RocketFuel Blockchain Inc., explores the reasons the Millennial generation are not only unintimidated by cryptocurrency, but also prefer it as the digital payment of choice: As the generation that grew up during the financial crisis and the expansion of the Internet, Millennials realized the shortcomings…
Scammers are opportunists COVID relief checks provided a “porthole” to scams Consumers need reminders to stay vigilant even in challenging times It is no surprise to note that scammers are, first and foremost, opportunists. When the United States government began issuing several rounds of stimulus checks, they were right there with complicated — and not-so-complicated…
Kevin Levitt, Global Business Development, Financial Services, NVIDIA, has an excellent post at Finextra.com examining the prevalence — and importance — of Artificial Intelligence adoption in fintechs, investment firms, and consumer banks.
PaymentsJournal offers a podcast wherein Patricia Rojas, Senior Manager Data Scientist at ACI Worldwide, and Tim Sloane, VP of Payments Innovation at Mercator Advisory Group discuss the ways Machine Learning (ML) has become a vital component in the fight against fraud — particularly during the pandemic, when fraud rates have escalated.