- The MTA has been installing the system as part of a modernization effort to phase out the plastic MetroCards that have been in use since the ’90s.
- The new tap-to-pay system is available at 472 stations and on 5,800 buses in total.
- With new payment methods like contactless payments, providers are encountering new customer behaviors.
- Kount recommends using an AI-driven fraud prevention platform with a large identity trust network. A service like Kount’s can make a huge difference in quickly delivering both positive customer journeys for eCommerce models as well as real-time protection against fraud.
- According to a press release, the subscriptions economy has become a growth segment of the US services economy. Through 2022, online subscriptions will find higher growth due to continued consumer popularity of streaming services and software.
- As subscriptions surge, so do complaints from customers saying they’re being charged for things they say they never meant to buy. In light of this, businesses that use subscription models need to be very clear and direct in their policies and put protections in place to safeguard from chargebacks.
- The scam tells recipients they are “eligible to apply for your vaccine” with a link to a bogus NHS website, trading standards officers have warned.
- That, in turn, asks for personal information and – crucially – bank details “for verification”.
- Businesses need to protect against the use of stolen credentials on eCommerce platforms. Next-generation AI protects against new and existing fraud attacks before they become chargebacks.
- Equifax Inc.agreed to acquire Kount Inc., which offers fraud protection for e-commerce retailers, for $640 million.
- The transaction is expected to close in the first quarter, Atlanta-based Equifax said in a statement.
- Kount’s employees will continue to be based in Boise, Idaho, and will report to Equifax’s U.S. information-solutions unit.
- The U.S. has pumped billions of dollars into the unemployment system since the spring — a magnet for criminals that’s led to surging theft and fraud attacks.
- Criminals have led fraud attacks on U.S. unemployment systems, which has contributed to at least $36 billion being taken from out-of-work Americans.
- Real time linking with advanced machine learning and AI can identity risky interactions and stop fraud in real time.
- Fraudulent interactions can be managed with controls in place like Kount’s Identity Trust Global Network.
- According to the BBB, scammers are connecting stolen credit cards to Venmo and using them to transfer money to unsuspecting users. If you send the money back to the scammer, they will delete the stolen credit card from their account and add their own card in its place.
- TikTok has announced an updated version of its community guidelines. Under a section of policy prohibiting various types of “Frauds and Scams”—which used to focus on outright Ponzi schemes, get-rich-quick hoaxes, and phishing attempts—the company became the first major social-media platform to declare that multilevel marketing was verboten as well.
An excerpt from ‘A Look Forward, What Executives Wish for American And The World in 2021’
January 11, 2021
Weekly news digest