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Fraud Scams Skyrocket, But People Worry More About Pickpockets

Fico Collections

When it comes to fraud, are people worried about the wrong things? New data suggest that people are concerned about fraud, but one of the biggest threats seems to be flying under the radar, at least for consumers. That threat is fraud scams – tactics and techniques that fraudsters are using to trick people into giving away their money.

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Retailers brace for tougher times and more frugal customers in 2023

Collection Industry News

January is typically an overlooked month for retailers. The next few weeks, which close out many retailers’ fiscal year, could help determine whether the holiday quarter is a win or a bust. January could also set the tone for 2023 — when some economists and retail industry watchers anticipate the U.S. will tip into a recession.

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Retail Payments Fraud: How Consumers and Banks Can Fight Back

Fico Collections

There’s a lot going on in the retail payments space – defined as transactions between two consumers, between consumers and businesses, or between two businesses. Some of the changes are related to new digital payments methods like P2P apps, tap-to-pay, and cryptocurrency, which are all growing options in retail environments.

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U.S. States With The Most People Behind On Their Rent Payments

Collection Industry News

Renters are more likely to work in the sorts of lower-wage occupations that have been most disrupted by the pandemic, like retail and hospitality, and less likely to have savings or other assets to help them weather hard times. Here are the states with the most people behind on their rent. Census Bureau. The post U.S.

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Reflections 2022: The Power of Patents and the People Behind Them

Fico Collections

Reflections 2022: The Power of Patents and the People Behind Them. FICO placed first in six categories including Artificial Intelligence Applications, Financial Crime – Enterprise Fraud and Retail Credit Analytics and Innovation – AI and Decision Management Platform, and we placed first in Innovation for the sixth year in a row!

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FICO Integrates Fraud and Scam Detection in FICO Falcon Retail Banking 3.0 Model

Fico Collections

I’m very pleased to announce the release of the FICO® Falcon® Fraud Manager Retail Banking Consumer v3.0 model, which adds a Scam Detection Score to Falcon’s existing third-party fraud detection score for retail banking transfers. Based on reports to the U.S. How Scams Differ from Third-Party Fraudulent Transfers.

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Negative Impact of Buy Now Pay Later Schemes

Nexa Collect

Retailer Incentives : Retailers sometimes receive incentives or commissions from BNPL providers for promoting their service. This might cause some retailers to aggressively push BNPL as the preferred payment option even when it might not be in the best interest of the consumer.

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