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New highs of Bitcoin price inspiring a new wave of scams
The surge in Bitcoin price has led to an uptick in related crimes during the first three weeks of March, just as the cryptocurrency was moving to integrate into conventional financial markets – new research from the security firm ZeroFox shows. The scams varied from straightforward phishing attempts to more elaborate pyramid schemes — but in [...]
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Collaboration between banks and FinTechs now key to survival with connected consumers
With the EU’s Second Payment Services Directive (PSD2) and open architecture framework set to come into force next year, regulation may well tip the scales between banks and FinTechs for customer loyalty. Concessions must be made on both sides along the way, but in the end the collaborators will be the ones to survive – [...]
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US Payments Forum provides guidance on card-not-present fraud
With card-not-present fraud a global concern, many countries have deployed various fraud prevention tools to help curb fraud in both online and mobile channels. In this report, the U.S. Payments Forum has reviewed experiences from countries around the world to assist the US payments industry in mitigating card-not-present fraud. Globally, card-not-present fraud includes telephone, Internet, and mail-order [...]
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Bench marking the US Debit Issuers performance – 2014 to 2016
A recent First Annapolis Consulting survey showed that leading US debit issuers continued to experience strong portfolio performance in 2016, with year-over-year transaction growth in the high single-digits. Issuers averaged 24.5 debit transactions per active card per month in 2016, with average monthly spend per active card of $928 (see Figure 1). Results are based [...]
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FCA investigate British banks‘ role in Russian money laundering scheme “Laundromat”
The FCA is investigating the role of British banks in the alleged processing of hundreds of millions of pounds for a Russian money laundering scheme dubbed “the Laundromat” the growing scrutiny is weighing whether to launch a full investigation. Simon Kirby, the City minister, was forced to answer a question in parliament about the latest revelations [...]
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