Card fraud

Visa pilots card-not-present security app with MSUFCU


The pilot leverages Keyno’s CVVkey technology that uses a dynamic card verification value 2 (CVV2) code to provide a higher level of security against fraud for online and mobile payments.


Dimon counsels against bank stock buybacks; Texas banks call off merger


The JPMorgan CEO says the recovery has to start first, and future buybacks won’t be as big as before; Texas Capital Bancshares and Independent Bank blame the coronanvirus market impact.


Banks reengineer instant debit card issuance amid pandemic


Customers normally receive debit and credit cards inside a branch. Now banks are shifting the process to their drive-throughs and finding alternative ways for cardholders to key in their PINs.


Coronavirus scams to watch out for


Financial institutions need to alert customers about emails or websites that pretend to offer important COVID-19 information but instead could end up stealing their account numbers or logins.


U.S. charges four Chinese military members over Equifax hack


The Department of Justice announced charges Monday against four members of China’s People’s Liberation Army for hacking into Equifax Inc., according to Attorney General William Barr.


CFPB sues Citizens over card fraud claims, but bank pledges to fight


The consumer bureau alleges the Providence, R.I., bank mismanaged billing error claims over a six-year period. Citizens Bank says it is “puzzled and disappointed” by the agency’s action.


Treasury renews Comerica contract for benefits program hit by fraud


Comerica Bank won another five-year contract from the Treasury Department to run the prepaid Direct Express card program despite criticism of how it handled past fraud cases and customer service blunders.


What FICO sees through its window into fraud


Doug Clare explains how the organization uses artificial intelligence to spot crime rings and skimmers.


Fake ID fraud is declining, but small lenders are still vulnerable


Though synthetic identity fraud is down across the industry, there's been an uptake in such attacks targeting credit unions.