PinDrop Reports Big Increase in Phone Fraud
Social engineering is on the rise because fraudsters have found the weakest link in the security chain – the call center operator. According to the 2016 Call Center Fraud Report, fraudulent calls spiked 45% in the last 3 years and now 1 in every 2000 calls into call centers is by a fraudster trying to […]
NACHA Reports Zero Increase in Fraud with Same Day ACH
Nacha is reporting that there has been zero increase in fraud after the much-feared launch of Same Day ACH in September of last year. The report comes after Nacha survey 23 financial institutions about their experience with Same Day ACH. 100% of those banks reported no increase in fraud. And it’s not for lack of […]
Online Merchants Will Not Be Liable For Fraud In 3 Years
Here is a bold statement. “Within three years merchants will no longer be liable for credit card fraud online”, said Skye Spear, vice president of partnerships at Signifyd That quote in Forbes caught my attention. Then I took a closer look at what Skye Spear and his company are doing to make that possible. Yes, […]
Auto Finance – Auto Loan Fraud Set to Double in 2017
An article by William Hoffman in Auto Finance News reports Auto Lending Fraud is set to double. Here is the article in its entirety. Consumer fraud in auto lending could double in 2017, compared with the year prior, in large part due to prevailing trends in the finance industry, said Tim Grace, chief executive of […]
Fraud Continues Unprecedented Climb Higher
Are we at the beginning or end of a dramatic spike in fraud across all industries? It might be open for debate but clearly, all signs are pointing to the fact that we may be in the very early stages of a long and treacherous climb upward. I reviewed the Top 10 Reported Fraud Losses last month […]