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Javelin Strategy & Research has made available their 2020 Identity Fraud Study (available for download here). The data presents a sobering outlook:
The results of Javelin’s 2020 Identity Fraud Survey serve as a wake-up call—one that will force financial institutions, businesses, and the payment industry to reevaluate how identity fraud is managed. Total identity fraud reached $16.9 billion (USD) in 2019, yet the dollar loss is only part of the story. To have a more fulsome understanding of identity fraud a comprehensive evaluation of the drop in number of victims lead to several unsettling findings. Criminals are targeting smaller numbers of victims, while inflicting damage that is more complex to prevent or remediate.
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The novel coronavirus is having a devastating impact on the healthcare industry Denial write-offs are a new pain point; again Shrewd tech deployment is key to overcoming denials The novel coronavirus has drastically affected the healthcare industry. Hospitals across the country are forced to make the tough decision to furlough many of their employees; rural…
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In addition to disrupting the lives of nearly every person across the globe, the novel coronavirus has utterly upended physicians’ practices, according to a recent article at RevCycleIntelligence. A survey conducted April 10 to 13 by the Primary Care Collaborative and The Larry A. Green Center found that half of primary care practices are unsure…
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Last month, FT Partners hosted a VIP Video Conference to review their new industry research report, Understanding the Impact of COVID-19 on FinTech, which is available HERE. They were joined by three leading FinTech CEOs and discussed their approaches to the COVID-19 era. Video Conference Panelists: Steve McLaughlin, Founder and CEO of FT Partners Greg…
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The COVID-19 pandemic has drastically altered the labor landscape. With mandated shutdowns across the country for non-essential businesses to slow the spread of COVID-19, we’ve seen a shift toward working remotely, AKA “work-from-home.” Although official statistics are not readily available, according to Netskope – a provider of cloud security services for Fortune 100 companies –…
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The Office of the Comptroller of the Currency (under the jurisdiction of the US Department of the Treasury) has rolled out an easy-to-use check fraud and forgery resource at HelpWithMyBank.gov that represents a valuable and easily accessible tool for banks and their customers.
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At our 2019 Healthcare and Check Payment Technology Conference in Charlotte this past May, we were fortunate enough to hear from Rod Springhetti, the VP Product Management at Deluxe Corporation, as he spoke about AI implementation. Mr. Springhetti is known across the industry as a leading authority on AI implementation, and his insights were of…
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In April our post featured “celebrity fraudster” Matt Cox as he described his methods for perpetrating check fraud. He knows of which he speaks; he is the author of the book Shark in the Housing Pool: On the Run With the Secret Service’s Most Wanted (out of 15 Amazon reviews, it has 14 five-star ratings — but let’s remember that the author is a professional fraudster…)
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While the “Hot Spots” of the Novel Coronavirus dominate mainstream media — many of these locations being densely populated cities and urban communities — it is important to shine a light on the how rural hospitals are being impacted. These rural hospitals and healthcare providers are still feeling the impact as resources are less abundant…
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In the era of the coronavirus pandemic, it’s more important than ever for revenue cycle management to operate at maximum efficiency. Many practices are facing economic uncertainty and cannot afford any additional fiscal leakage. Indeed, as recently reported by Healthcare Finance News, waste and inefficiency can be a killer in this environment. How much waste…
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