PaymentWorks’ Post

Who carries the burden of fraud? The answer varies widely across regions, countries, and organizations. However, one trend is becoming clear: an increasing number of regulators are implementing policies that shift the cost of fraud from defrauded customers to financial institutions. 💼 In our new white paper, "The Liability Shift: Understanding Fraud Losses Responsibility and Mitigation," we delve into critical questions regarding the responsibility for fraud losses and the evolving regulatory approaches. Highlights include: ✔️ Insight into the rising tide of online fraud and its implications for banks and PSPs. ✔️ An exploration of regulatory changes and their impact on fraud liability. ✔️ Effective strategies and the latest technologies for fraud prevention. Download the white paper here 👉 https://bit.ly/3xfN3M8 #LiabilityShift #FraudPrevention #WhitePaper

Soaring fraud rates are putting more scrutiny on the class action claims fraud detection process. It’s understandable that judges, settlement parties and claims administrators could be skeptical that 98% of claims in a case are flagged as fraudulent. 🤔 That’s why backup data to show why each claim was flagged fraudulent is so important: it provides explainable results that ensure transparency, build trust and get cases to settlement approval efficiently. For more on how ClaimScore’s methodology justifies every fraud determination and other ways to build a successful class action settlement, read our latest insights. https://lnkd.in/eczSwX-2

Day 2 of #FraudWeek: Diving into Friendly Fraud 💳 So, what is friendly fraud? Friendly fraud happens when a cardholder disputes a legitimate transaction on their card, claiming the purchase was unauthorized, faulty or not received. This can happen for many reasons such as human error or buyer’s remorse. 💭 The catch? People who commit friendly fraud may not even realize it’s fraud! In our latest blog, we’ll be diving further into this topic: 📈 Key insights and examples of friendly fraud  🚨 The consequences of friendly fraud on businesses and buyers 🛡️ Protecting your business and bottom line from false chargeback disputes 🔮 Friendly fraud trends and projections for the future 📖 Read the full blog here: https://lnkd.in/g3r8jyRu #FraudAwareness #FraudPrevention #RiskManagement  #Resources #Education Association of Certified Fraud Examiners (ACFE)

Fraud, misuse, and abuse are always top concerns when it comes to corporate credit cards. As we get closer to the end of the year, it’s even more topical than normal. Data shows that instances of corporate credit card fraud tend to spike during the holiday season. Luckily, there are a myriad of tools at your disposal to identify and mitigate corporate card fraud. Card Integrity is hosting a webinar on October 30, 2024 to discuss not only the basics of corporate card fraud, but tools, tips, and tricks at your disposal to get ahead of it. Join us as we delve into the basics of fraud mitigation and share stories of what we've seen. - https://bit.ly/48hei7i - #pcards #fraud #expensemanagement #auditing #corporatecards #policycompliance #spendmanagement #expenses

Today's top 3 fraud scams and how to protect your business, your data and your finances. The post Top 3 Fraud Scams: Keeping Your Business Safe When Making or Accepting Payments appeared first on Discover & Learn.

Supplier fraud isn’t just a business risk—it’s like living in a real-life thriller. Instead of masked villains 🦹, fraudsters hide behind emails 📧 and phone calls 📞, ready to strike when you least expect it. Their attacks are crafty, slipping in through seemingly legit requests or perfectly timed 🕒 calls. But you don’t have to play the victim in this story❗ With the right know-how 🧠, you can turn your supplier verification process into a fortress ⚔️ that’s nearly impossible to breach. We’re sharing the top fraud tactics and, most importantly, how you can defend 🦾 your business like a pro. Don’t let fraudsters steal the scene—stay one step ahead! Get the full scoop below👇 https://hubs.li/Q02S1Mkc0 #supplierfraud #vendorfraud #fraud #fraudprevention #vendorverification #vendorfile #vendorfraud #vendorpayments #indemnification #vendordata #vendormanagement #vendoronboarding

🔍 Fraud is evolving, and so must we. Collaboration is the cornerstone of the fight against financial crime. At the Financial Conduct Authority, Andrea Bowe emphasises the importance of partnerships to reinforce defences and address emerging threats, like mule activity and payment scams. Together, we can move the dial in tackling fraud globally—through innovation, data sharing, and collective effort. To dive deeper into how the FCA drives change, read Andrea's full speech here ➡️ https://lnkd.in/eaUyzBpi

Fraud Fact: Small businesses experience higher median losses (about $150,000 per fraud case) compared to larger organizations due to limited resources for fraud prevention. One of the most efficient ways to prevent fraud within your business is to thoroughly verify new candidates before onboarding them to your team. At Veriswift, we offer credit checks to help business owners like you screen for potential financial red flags. 🚩 Learn more at https://lnkd.in/gW2CbU8T. #backgroundcheck #backgroundscreening #quickbackgroundchecks

Tomorrow, Wednesday, October 30, 2024, we will have our Fighting Corporate Credit Card Fraud: A Back-to-Basics Overview webinar at 10 am CDT. Don’t hesitate to join us to learn about how we discover fraud and solve it like a mystery, complete with a Sherlock Holmes-inspired get-up (it's almost Halloween after all). We'll also be sharing stories and examples of what we've seen over the years. Hope to see you there! 🕵️ 🎃 - https://bit.ly/3YzrRLW - #pcards #fraud #expensemanagement #auditing #corporatecards #policycompliance #spendmanagement #expenses

🚨 New Treliant Takeaway Alert! Richard E. Lee unpacks FinCEN's latest advisory on deepfake media fraud schemes in our newest Treliant Takeaway. This piece explores the risks posed by this emerging threat and offers guidance on how businesses can strengthen their defenses. 👉 Read it here: Treliant Takeaway - https://lnkd.in/g_qJyqtm Stay ahead of the curve on financial crime trends with Treliant. #FinancialCrime #Deepfake #FraudPrevention #TreliantTakeaway