Online shopping is becoming increasingly popular in South Africa as more and more people are discovering the convenience of transacting online. But while online shopping does offer convenience and great deals it is also important to be aware of the risks and protect yourself accordingly. Fraudsters are increasingly turning to the anonymity of the internet
It’s the phone call from a stranger who claims your relative is in trouble and needs cash or an email that says you’ve won a prize for a contest you never entered. These are tell-tale signs you’re being scammed. As part of National Consumer Protection Week, MoneyGram, a global money transfer and payment services company,
Visa Inc. has announced that it has completed technical development of a new service aimed at detecting and preventing fraud schemes that target the use of prepaid cards. Visa’s Prepaid Clearinghouse Service (PCS) is a centralized database that allows financial institutions, processors and prepaid program managers to share prepaid card data such as enrollments, load
When it comes to wire and automated clearinghouse (ACH) fraud, global financial executives agree that the biggest negative impact is reputational damage. Regionally, North American financial executives are experiencing less fraud than their global counterparts, according to a recent survey from electronic payment and banking systems leader ACI Worldwide, which examines global fraud trends in
Tackling fraud and extending banking services to previously underserved populations are just some of benefits Lorenzo Gaston, Technical Director of the Smart Payment Association (SPA) will highlight when he takes the stage today at www.cartes.com to explain why the Time is Now for Biometrics in Financial Services. The introduction of biometric cardholder verification represents an
TSYS a leading global payments solution provider, and FICO® a leading analytics software company, have announced the integration of FICO’s latest version of its fraud management solution, FICO® Falcon® Fraud Manager 6 with TSYS’ licensed PRIME card and merchant management solution. This extension to TSYS’ global strategic alliance with FICO will enable TSYS to offer the Falcon
SecureBuy, a provider of payment fraud prevention technology announced today that it has released SecureBuy 2.0 for Call Centers. As eCommerce payment transactions become more secure, call center security must become more sophisticated to foil internal theft, and the more sophisticated external fraudster. Call Center payment fraud is at an all-time high, and whether it’s
Ogone, a leading global online payment services specialist, has upgraded its online payment fraud protection package with the latest detection technology tools and launched a new product, Ogone Fraud Expert™. Merchants are being offered improved protection against online fraudsters which features the added benefit of helping those merchants increase their online payment revenues by reducing
MasterCard Worldwide and Kount, a leading provider of fraud prevention and management technology in the US, announced an agreement to make MasterCard’s Expert Monitoring Fraud Scoring for Merchants available to Kount and its merchant customers. MasterCard’s Expert Monitoring Fraud Scoring for Merchants Application Programming Interface (API) improves an online merchant’s ability to detect and prevent
A four-count federal indictment was unsealed in Brooklyn, USA charging eight defendants with participating in two worldwide cyberattacks that inflicted $45 million in losses on the global financial system in a matter of hours. The defendants allegedly formed the New York-based cell of an international cybercrime organization that used sophisticated intrusion techniques to hack into
