Home Archive for category "Industry News"
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Equifax Acquires Kount for $650M Becoming Third Credit Bureau to Acquire a Device ID Provider

Equifax finalized a deal to purchase Kount for $650 million, following suit after TransUnion acquired iovation in 2018 and Experian acquired 41st Parameter in 2013. Kount will maintain their headquarters in Boise, Idaho, as it becomes a part of Equifax’s United States Information Solutions (USIS) company. The deal is expected to close in the first

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Fraudsters Raised the bar in 2020 Increasing the Average Fraud Purchase Value to Over $700

The average order value during the Black Friday weekend was up 64 percent year-over-year, but during the entire months of October and November the average order value of fraud attempts was up 70 percent. Read More

 
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More than 36 percent of Consumers Admit to Friendly Fraud

More than 36 percent of consumers admitted to falsely claiming a transaction was unauthorized or fraudulent while 31 percent falsely claimed a product never arrived, arrived damaged or was unsatisfactory, according to a recent study. While there is overlap of consumers who have made each of these false claims, this represents a meaningful share of

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Mobile Wallets Responsible for The Rise in Friendly Fraud

Merchants are less likely to dispute chargebacks on transactions originating from mobile wallets and significantly less likely to win those they choose to represent. Consumers may be more prone to commit friendly fraud with mobile wallet transactions and the dishonest ones may already be exploiting this trend. Read More

 
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New Survey Report & White Paper: Attract, Develop and Retain Talent in Payments and Risk

  This joint survey report and white paper from The Fraud Practice and Executive Search firm Greenings focuses on the talent planning needs and concerns of organizations while providing insights around attracting, developing and retaining talent in the payments and fraud space. Download the Free Report

 
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Black Friday and Cyber Monday Online Sales Set Records but Fall Short of High Expectations

Cyber Monday once again set the record for the largest online shopping day in the United States as consumers spent more than $10.8 billion online. Black Friday online sales also topped last year’s with $9.03 billion in online sales, but neither day lived up to the elevated expectations for online holiday spending during the pandemic.

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Banco Santander to Acquire Wirecards’s Technology Assets

Following a series of accounting fraud scandals that resulted in the insolvency of German processor and payments provider Wirecard AG, Banco Santander will be acquiring their payment technology assets for €100 million. The acquisition only includes the assets related to merchant services and payment processing with the approximately 500 employees who manage the assets, who

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The Fed and FinCEN Propose to Lower Reporting Threshold on International Transfers to $250

The Financial Crimes Enforcement Network (FinCEN), along with the Board of Governors of the Federal Reserve, recently proposed new rules related to the Bank Secrecy Act (BSA) and anti-money laundering regulations requiring financial institutions to collect and report information related to international transfers. The proposed changes would lower the threshold requiring when this information is

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Nacha Approves Amendments to Operating Rules Focused on Supporting More Technologies and Handling Unauthorized Payments

Nacha, who enables Automated Clearing House (ACH) payments, has approved eight amendments to their Operating Rules focused on infrastructure around improving Same Day ACH and providing a framework for authorizing consumer ACH payments that can be applied to the growing channels and technologies consumers want to use to make digital payments. Additional new rules pertain

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