Risk: Page 19
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Anastasia Vlasova / Stringer via Getty Images
Visa, Mastercard block Russian banks from network
The card giants said they've disconnected Russian banks from their international payment networks to comply with the slew of sanctions being imposed on Russia after its invasion of Ukraine.
By Jonathan Berr • March 1, 2022 -
NicoElNino via Getty Images
FTC report shows consumer fraud losses jumped last year
Consumers lost a whopping $5.9 billion to fraud in 2021, with bank payments and cryptocurrency transactions generating the highest losses, the government report said.
By Caitlin Mullen • March 1, 2022 -
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TrendlinePayments industry seeks to keep pace with fraudsters
As losses from fraud in payments have climbed, companies are seeking new tools to combat illicit schemes.
By Payments Dive staff -
Drew Angerer via Getty Images
G-7 nations impose limited Swift sanctions
Japan on Sunday joined a coalition of six nations and the European Union in imposing Swift money transfer system sanctions on a limited number of Russian banks.
By Jonathan Berr , Dan Ennis • Updated Feb. 27, 2022 -
Alex Wong via Getty Images
Deep DiveUS banks brace for stricter sanctions against Russia
The Russian banks the U.S. targeted Tuesday account for only 5% of the country's total bank assets. But penalties aimed at larger banks of greater systemic importance may be in the offing.
By Robin Bradley • Feb. 25, 2022 -
Adam Berry via Getty Images
Payment companies mainly skirt Russia-Ukraine impact
Payments industry executives likely aren't worrying too much about Russia's invasion of Ukraine, based on the amount of revenue coming from the region, at least not yet.
By Jonathan Berr • Feb. 25, 2022 -
Poike via Getty Images
Firms tackle ballooning BNPL fraud
In another sign of buy now-pay later’s skyrocketing popularity, companies that tackle fraud are rolling out tools to address risk related to the payment option.
By Caitlin Mullen • Feb. 22, 2022 -
Freepik.com
Sponsored by EverCHow deep fakes are hurting the payments industry
How payments players can protect themselves against deep fakes.
Feb. 22, 2022 -
Andrei Berezovskii via Getty Images
SIM swap schemes threaten mobile payments
The FBI says SIM card swap fraud, where cybercrooks snatch sensitive data from mobile phones, is on the rise. The Federal Communications Commission is trying to do something about it, but it's not an easy crime to stop.
By Mercedes Cardona • Feb. 15, 2022 -
Courtesy of Tricia Harte
Experian debuting BNPL bureau later this year
The Ireland-based credit reporting agency said it's creating a designated bureau to handle real-time reporting of buy now-pay later data, as the installments trend becomes increasingly popular with consumers.
By Caitlin Mullen • Jan. 20, 2022 -
Matt Cardy via Getty Images
ColumnWhy consumers like me are getting a barrage of credit card offers
Think it's weird that my cat got offered a credit card? That's part of the wave of offers arriving as card issuers and their processing networks seek to recover from a COVID-19 credit spending drop.
By Jonathan Berr • Jan. 12, 2022 -
Tero Vesalainen via Getty Images
7 payments trends for 2022 as innovation climbs
From cross-border services to BNPL to cybersecurity tools, there will be no shortage of innovation and competition in the payments industry as businesses and their regulators shape new digital tools in the wake of the COVID-19 pandemic.
By Jonathan Berr , Caitlin Mullen , Lynne Marek • Jan. 4, 2022 -
Courtesy of Tricia Harte
BNPL growth prompts change from credit bureaus
Paying in installments has become wildly popular, but many of these plans aren't reflected on consumers' credit reports. Credit agencies say adaptations are coming.
By Caitlin Mullen • Dec. 20, 2021 -
Courtesy of Klarna
Feds increase scrutiny of buy now-pay later
The Consumer Financial Protection Bureau is concerned about consumers taking on too much debt, and about BNPL providers evading laws. As a result, it's demanding information from five of the biggest players in the emerging industry.
By Lynne Marek , Jonathan Berr , Caitlin Mullen • Dec. 16, 2021 -
ViewApart via Getty Images
Gen Zers relied on buy now-pay later for holiday shopping. It's time to pay up.
Look up #Klarna, #Afterpay or #Affirm on the social media site TikTok. Beneath some of those BNPL provider hashtags are videos of teens dancing and lip syncing to viral sounds, with the balances they owe in the background.
By Maria Monteros • Dec. 15, 2021 -
Win McNamee/Getty Images via Getty Images
How Elon Musk's mood drives crypto
The world's richest man can send cryptocurrency prices soaring or plummeting depending on his mood. This year, Dogecoin has been the object of his affection, and derision.
By Jonathan Berr • Dec. 14, 2021 -
Retrieved from Flickr/frankieleon.
Card industry faces $400B in fraud losses over next decade, Nilson says
Fraud-fighting efforts kept card industry losses at bay last year, according to Nilson Report, but the research firm says don’t expect the same when this year wraps up. "The decline in the dollar amount of fraud losses in 2020 will not be repeated in 2021," the report said.
By Caitlin Mullen • Dec. 14, 2021 -
Megan Quinn/Payments Dive
Crypto execs urge regulation tailored to risks
They told lawmakers at a Wednesday hearing on Capitol Hill that nothing short of U.S. leadership in the field of digital assets is at stake.
By Dan Ennis • Dec. 10, 2021 -
Rebecca Pifer/Payments Dive
Fintech firms lock arms for new standard
Digital finance company Plaid is leading a group of fintechs, data security companies and compliance firms in developing a new standard to protect confidential consumer data from hackers.
By Jonathan Berr • Dec. 9, 2021 -
Chip Somodevilla via Getty Images
New York Fed, BIS partner on fintech research center
The innovation hub is meant to support the U.S. central bank's analysis of digital currencies, including CBDCs, and to help make cross-border payments faster and less expensive, Fed Chair Jerome Powell said.
By Robin Bradley • Dec. 7, 2021 -
Matt Cardy via Getty Images
Hackers sell stolen US cards at dirt cheap prices
"Even though the biggest number of card details found for sale were from these 3 countries, this doesn’t mean that they are the most vulnerable," a cybersecurity company report on the topic said.
By Jonathan Berr • Dec. 6, 2021 -
Chip Somodevilla via Getty Images
SEC Chair Gensler to crypto platforms: Come to us before we come for you
The SEC head called on digital asset exchanges to register with the agency, citing concerns for "vulnerable" investors. "If we don’t address these issues, I worry a lot of people will be hurt," he said.
By Caitlin Mullen • Dec. 3, 2021 -
Kevin Dietsch via Getty Images
Senate banking chair queries crypto CEOs
The complexity of stablecoins makes it difficult for investors and consumers to fully understand their potential risks, Sen. Sherrod Brown, D-OH, said in letters to eight issuers and exchanges, including Coinbase and Tether.
By Anna Hrushka • Nov. 29, 2021 -
vchal via Getty Images
Enterprises prepare for ransomware threats during Thanksgiving
Retail, transportation and other sectors are bracing for heightened cyber risks during the holiday, placing renewed pressure on security operations.
By David Jones • Nov. 24, 2021 -
RyanJLane via Getty Images
Deep DivePayment Choice Act wins bipartisan backing
New Jersey Democrat Rep. Payne is trying to preserve cash as a form of payment and collecting support across the aisle, even as the possibility of a U.S. digital dollar gains traction.
By Lynne Marek • Nov. 23, 2021 -
Courtesy of Peloton
Affirm reports better outlook, sidesteps Peloton question
The BNPL payments company provided a brighter sales and revenue forecast for the fiscal year, but it skirted a question about the impact of a gloomier outlook at its long-time big customer Peloton.
By Lynne Marek • Nov. 11, 2021
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