Visa and MC Raise Fraud Thresholds As Gas Prices Soar
Gas prices are soaring and credit cards are just not able to handle the rapid increases. Visa and Mastercard and changing their fraud liability rules for gas stations to allow larger transactions after gas price surges have made it hard for many drivers to fill up their cars using their credit cards. Most gas stations […]
ACFE – Internal Fraud Losses Globally Hit $4.7 Trillion
The ACFE released its annual report on fraud and they estimate that organizations are losing $4.7 Trillion to occupational fraud each year. That means that companies are losing up to 5% of their revenue to fraud committed by their employees. The term occupational fraud refers to frauds that are committed by individuals against the organizations […]
SBA Bolstering Fraud Program To Crack Down on Losses
The SBA is making big changes. Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America’s 32.5 million small businesses in President Biden’s Cabinet, announced an all-hands-on-deck, multi-faceted expansion of efforts to identify and support the SBA Inspector General’s recovery of fraudulently obtained COVID economic relief funds and to prevent potential […]