A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.
Search Payments News
May 8, 2019
On the web
A Surprising Jump in ACH Fraud
Digital Transactions
“Which payment method holds the dubious distinction of racking up the fastest growth in fraud last year? According to the latest annual fraud report from the Association for Financial Professionals, it’s debits and credits on the automated clearing house network. In fact, the ACH was the only payment method examined in the report that registered an increase in fraud in 2018. Some 33% of responding organizations said they had been the victims of actual or attempted fraud on ACH debits last year, up from 28% in 2017. Meanwhile, 20% reported being the targets of ACH credit fraud, up markedly from 13%.”
April 11, 2019
Top Post
The Latest AFP Fraud Study Unveils a Surprising Jump in Fraud on the ACH
Digital Transactions
“Some 33% of responding organizations said they had been the victims of actual or attempted fraud on ACH debits last year, up from 28% in 2017. Meanwhile, 20% reported being the targets of ACH credit fraud, up markedly from 13%. Surprised? So was Magnus Carlsson, manager for treasury and payments at the Bethesda, Md.-based AFP, a trade group for financial managers in a wide variety of industries. The ACH results were “probably the most stunning numbers we saw in this report,” says Carlsson. Before releasing the study, Carlsson adds, “I went back to the research department and said, ‘You have to double-check these numbers.’””
August 13, 2018
On the web
FBI Warns of ‘Unlimited’ ATM Cashout Blitz
Krebs on Security
“The Federal Bureau of Investigation (FBI) is warning banks that cybercriminals are preparing to carry out a highly choreographed, global fraud scheme known as an “ATM cash-out,” in which crooks hack a bank or payment card processor and use cloned cards at cash machines around the world to fraudulently withdraw millions of dollars in just a few hours.”
April 16, 2018
On the wires
Guardian Analytics® to feature Same Day ACH Fraud Detection and ACH Fraud Analytics Solutions at NACHA’s PAYMENTS 2018
“Guardian Analytics, the #1 Financial Crime Investigation behavioral analytics and machine learning platform for banking payment fraud detection, enterprise B2B portal fraud and AML, today announced their attendance at PAYMENTS 2018, NACHA’s destination to learn about fast, secure and frictionless payments.”
Take us with you
Payments on Fire is available on iTunes, Spotify, Google, Stitcher, Pocket Casts, and other podcast apps and services. Or just say “Alexa, play Payments on Fire podcast.”
