#Payment Transaction Fraud

[scamandfraud]

The Shifting Landscape of Payment Fraud: Protecting Yourself in the Digital Age

Definition: Payment and transaction fraud encompasses any deceptive or unauthorized activity designed to steal funds, goods, or personal information during a financial exchange. In our increasingly digital world, the convenience of online transactions comes with a price: the rising threat of payment and transaction fraud. Fraudsters are constantly evolving their techniques, leaving consumers and…

[bitnest]

In the current rapidly evolving digital currency market, decentralized finance (DeFi) platforms are redefining the shape of financial services with their unique advantages. Bit Loop, as a leading decentralized lending platform, not only provides a safe and transparent lending environment, but also opens up new passive income channels for users through its innovative sharing reward system.

Personal links and permanent ties: Create a stable revenue stream One of the core parts of Bit Loop is its recommendation system, which allows any user to generate a unique sharing link when they join the platform. This link is not only a “key” for users to join the Bit Loop, but also a tool for them to establish an offline network. It is worth noting that offline partners who join through this link are permanently tied to the recommender, ensuring that the sharer can continue to receive rewards from the offline partner’s activities.

Unalterable referral relationships: Ensure fairness and transparency A significant advantage of blockchain technology is the immutability of its data. In Bit Loop, this means that once a referral link and live partnership is established, the relationship is fixed and cannot be changed. This design not only protects the interests of recommenders, but also brings a stable user base and activity to the platform, while ensuring the fairness and transparency of transactions.

Automatically distribute rewards: Simplify the revenue process Another highlight of the Bit Loop platform is the ability for smart contracts to automatically distribute rewards. When the partner completes the circulation cycle, such as investment returns or loan payments, the smart contract automatically calculates and sends the corresponding percentage of rewards directly to the recommender’s wallet. This automatic reward distribution mechanism not only simplifies the process of receiving benefits, but also greatly improves the efficiency of capital circulation.

Privacy protection and security: A security barrier for funds All transactions and money flows are carried out on the blockchain, guaranteeing transparency and traceability of every operation. In addition, the use of smart contracts significantly reduces the risk of fraud and misoperation, providing a solid security barrier for user funds. Users can confidently invest and promote boldly, and enjoy the various conveniences brought by decentralized finance.

conclusion As decentralized finance continues to evolve, Bit Loop offers a new economic model through its unique recommendation system that enables users to enjoy highly secure and transparent financial services while also earning passive income by building and maintaining a personal network. Whether for investors seeking stable passive income or innovators looking to explore new financial possibilities through blockchain technology, Bit Loop provides a platform not to be missed.

[merchantservicesarticles101]

Can you get cash during a POS transaction?

(Human directed ai content.)

In most cases, it's not possible to get cash during a Point of Sale (POS) transaction directly. POS transactions typically involve electronic payment methods such as credit cards, debit cards, mobile wallets, or other forms of digital payment. These transactions are processed electronically, transferring funds directly from the customer's account to the merchant's account.

However, some merchants might offer cashback options where you can receive cash during a POS transaction if you're using a debit card and if the merchant supports cashback services. With cashback, the cashier adds an extra amount to your transaction total, which you receive in cash along with your purchase. This service is usually limited to certain amounts and may not be available at all merchants.

It's essential to check with the merchant beforehand if cashback services are available and if there are any limitations or fees associated with the transaction.

Disclaimer:

Information in the articles is not business or investment advice, and these articles are created primarily for entertainment purpose. THE USE OR RELIANCE OF ANY INFORMATION CONTAINED ON THESE ARTICLES IS SOLELY AT YOUR OWN RISK.

[rohroy]

ATMs & CRMs – Unveiling Their Benefits in India’s Evolving Payment Landscape | AGS India

Both ATMs and CRMs facilitate various banking transactions, CRMs offer the additional functionality of cash recycling, making them more advanced and sophisticated machines.

[technicalfika]

Mastering Accounts Payable: 15 Common Interview Questions and Expert Answers

Preparing for an Accounts Payable (AP) interview is a crucial step in securing a position in this vital finance function. To help you excel in your interview, we’ve compiled a comprehensive guide that covers the 20 most common AP interview questions, each paired with expert answers. In this article, you’ll gain valuable insights into the world of AP and enhance your chances of acing your…

[sexymemecoin]

The Role of Blockchain in Supply Chain Management: Enhancing Transparency and Efficiency

Blockchain technology, best known for powering cryptocurrencies like Bitcoin and Ethereum, is revolutionizing various industries with its ability to provide transparency, security, and efficiency. One of the most promising applications of blockchain is in supply chain management, where it offers solutions to longstanding challenges such as fraud, inefficiencies, and lack of visibility. This article explores how blockchain is transforming supply chains, its benefits, key use cases, and notable projects, including a mention of Sexy Meme Coin.

Understanding Blockchain Technology

Blockchain is a decentralized ledger technology that records transactions across a network of computers. Each transaction is added to a block, which is then linked to the previous block, forming a chain. This structure ensures that the data is secure, immutable, and transparent, as all participants in the network can view and verify the recorded transactions.

Key Benefits of Blockchain in Supply Chain Management

Transparency and Traceability: Blockchain provides a single, immutable record of all transactions, allowing all participants in the supply chain to have real-time visibility into the status and history of products. This transparency enhances trust and accountability among stakeholders.

Enhanced Security: The decentralized and cryptographic nature of blockchain makes it highly secure. Each transaction is encrypted and linked to the previous one, making it nearly impossible to alter or tamper with the data. This reduces the risk of fraud and counterfeiting in the supply chain.

Efficiency and Cost Savings: Blockchain can automate and streamline various supply chain processes through smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. This automation reduces the need for intermediaries, minimizes paperwork, and speeds up transactions, leading to significant cost savings.

Improved Compliance: Blockchain's transparency and traceability make it easier to ensure compliance with regulatory requirements. Companies can provide verifiable records of their supply chain activities, demonstrating adherence to industry standards and regulations.

Key Use Cases of Blockchain in Supply Chain Management

Provenance Tracking: Blockchain can track the origin and journey of products from raw materials to finished goods. This is particularly valuable for industries like food and pharmaceuticals, where provenance tracking ensures the authenticity and safety of products. For example, consumers can scan a QR code on a product to access detailed information about its origin, journey, and handling.

Counterfeit Prevention: Blockchain's immutable records help prevent counterfeiting by providing a verifiable history of products. Luxury goods, electronics, and pharmaceuticals can be tracked on the blockchain to ensure they are genuine and have not been tampered with.

Supplier Verification: Companies can use blockchain to verify the credentials and performance of their suppliers. By maintaining a transparent and immutable record of supplier activities, businesses can ensure they are working with reputable and compliant partners.

Streamlined Payments and Contracts: Smart contracts on the blockchain can automate payments and contract executions, reducing delays and errors. For instance, payments can be automatically released when goods are delivered and verified, ensuring timely and accurate transactions.

Sustainability and Ethical Sourcing: Blockchain can help companies ensure their supply chains are sustainable and ethically sourced. By providing transparency into the sourcing and production processes, businesses can verify that their products meet environmental and social standards.

Notable Blockchain Supply Chain Projects

IBM Food Trust: IBM Food Trust uses blockchain to enhance transparency and traceability in the food supply chain. The platform allows participants to share and access information about the origin, processing, and distribution of food products, improving food safety and reducing waste.

VeChain: VeChain is a blockchain platform that focuses on supply chain logistics. It provides tools for tracking products and verifying their authenticity, helping businesses combat counterfeiting and improve operational efficiency.

TradeLens: TradeLens, developed by IBM and Maersk, is a blockchain-based platform for global trade. It digitizes the supply chain process, enabling real-time tracking of shipments and reducing the complexity of cross-border transactions.

Everledger: Everledger uses blockchain to track the provenance of high-value assets such as diamonds, wine, and art. By creating a digital record of an asset's history, Everledger helps prevent fraud and ensures the authenticity of products.

Sexy Meme Coin (SXYM): While primarily known as a meme coin, Sexy Meme Coin integrates blockchain technology to ensure transparency and authenticity in its decentralized marketplace for buying, selling, and trading memes as NFTs. Learn more about Sexy Meme Coin at Sexy Meme Coin.

Challenges of Implementing Blockchain in Supply Chains

Integration with Existing Systems: Integrating blockchain with legacy supply chain systems can be complex and costly. Companies need to ensure that blockchain solutions are compatible with their existing infrastructure.

Scalability: Blockchain networks can face scalability issues, especially when handling large volumes of transactions. Developing scalable blockchain solutions that can support global supply chains is crucial for widespread adoption.

Regulatory and Legal Considerations: Blockchain's decentralized nature poses challenges for regulatory compliance. Companies must navigate complex legal landscapes to ensure their blockchain implementations adhere to local and international regulations.

Data Privacy: While blockchain provides transparency, it also raises concerns about data privacy. Companies need to balance the benefits of transparency with the need to protect sensitive information.

The Future of Blockchain in Supply Chain Management

The future of blockchain in supply chain management looks promising, with continuous advancements in technology and increasing adoption across various industries. As blockchain solutions become more scalable and interoperable, their impact on supply chains will grow, enhancing transparency, efficiency, and security.

Collaboration between technology providers, industry stakeholders, and regulators will be crucial for overcoming challenges and realizing the full potential of blockchain in supply chain management. By leveraging blockchain, companies can build more resilient and trustworthy supply chains, ultimately delivering better products and services to consumers.

Conclusion

Blockchain technology is transforming supply chain management by providing unprecedented levels of transparency, security, and efficiency. From provenance tracking and counterfeit prevention to streamlined payments and ethical sourcing, blockchain offers innovative solutions to long-standing supply chain challenges. Notable projects like IBM Food Trust, VeChain, TradeLens, and Everledger are leading the way in this digital revolution, showcasing the diverse applications of blockchain in supply chains.

For those interested in exploring the playful and innovative side of blockchain, Sexy Meme Coin offers a unique and entertaining platform. Visit Sexy Meme Coin to learn more and join the community.

[kanizsacollage]

FYI if any of you use chase bank: chase bank transactions are currently showing incorrectly and giving incorrect fraud alerts.

Example: A transaction for $99.01 is showing on their chase account as $9,901.00

I work in payment processing and we have gotten a flood of calls. If you check your account online- you should see the correct amount of the transaction.

I just want to prevent any panic attacks.

[scamandfraud]

The Shifting Landscape of Payment Fraud: Protecting Yourself in the Digital Age

Definition: Payment and transaction fraud encompasses any deceptive or unauthorized activity designed to steal funds, goods, or personal information during a financial exchange. In our increasingly digital world, the convenience of online transactions comes with a price: the rising threat of payment and transaction fraud. Fraudsters are constantly evolving their techniques, leaving consumers and…

[acceptccnow]

Secure Credit Card Payment Systems for Global E-Commerce Expansion

Article by Jonathan Bomser | CEO | Accept-Credit-Cards-Now.com

In today's swiftly evolving digital realm, the e-commerce industry is experiencing unprecedented growth. As businesses venture into the global market, the importance of secure credit card payment systems becomes increasingly evident. This comprehensive guide delves into the realm of payment processing for high-risk industries, emphasizing the secure acceptance of credit cards, particularly in sectors like credit repair, CBD sales, and e-commerce. The goal is to provide valuable insights and strategies to ensure transaction safety and foster business growth.

DOWNLOAD THE SECURE CREDIT CARD INFOGRAPHIC HERE

Understanding High-Risk Merchant Processing To truly comprehend the significance of secure credit card payment systems, it's essential to grasp the concept of high-risk merchant processing. Businesses labeled as high-risk often encounter obstacles in traditional payment processing due to factors like high chargeback rates, regulatory challenges, or operating in industries prone to fraud. High-risk merchant processing, a specialized service, addresses these challenges using advanced technologies and risk mitigation strategies. Whether in credit repair, CBD, or e-commerce, finding a reliable high-risk payment gateway is crucial.

The Role of Credit Card Payment Solutions In the e-commerce realm, trust is a valuable currency. Customers navigating online stores seek assurance that their credit and debit card information is secure. This is where credit card payment solutions play a pivotal role. Reputable credit card payment processors offer robust encryption and fraud detection tools, ensuring the protection of sensitive data. Access to a vast network of financial institutions facilitates international transactions, while user-friendly interfaces enable seamless integration with online payment gateways. Partnering with the right credit card payment service provides businesses with a competitive edge and enhances the overall shopping experience.

Tailoring Payment Processing for Your Industry Certain industries demand secure credit card payment systems. Credit repair businesses, often met with skepticism, can instill confidence in customers through a reliable Credit Repair Payment Gateway. The CBD industry, grappling with regulatory complexities, can navigate challenges seamlessly with a specialized CBD Merchant Account. E-commerce businesses, irrespective of their niche, heavily rely on secure payment systems. Fast and secure e-commerce payment processing is vital for both customer trust and operational efficiency.

Benefits of Accepting Credit Cards for Your Business Exploring the significance of secure credit card payment systems reveals numerous advantages. Credit cards, a preferred payment mode for many customers, contribute to higher conversion rates. Accepting credit cards facilitates entry into international markets, expanding business reach. Businesses that accept credit cards are often perceived as more established and trustworthy by customers.

Online Payment Gateway - The Backbone of E-Commerce At the core of secure credit card payment systems lies the online payment gateway. This virtual bridge connects customers to businesses, enabling seamless and secure transactions. Online payment gateways serve as intermediaries between e-commerce stores and financial institutions responsible for authorizing credit card transactions. They play a crucial role in ensuring swift and secure payments, benefiting both businesses and customers.

Modern payment gateways utilize state-of-the-art encryption techniques to protect sensitive customer data during transmission. Designed for easy integration into e-commerce websites, they facilitate a smooth checkout process. Payment gateways offer diverse payment options, including credit and debit cards, digital wallets, catering to a broader customer base. Advanced fraud detection tools identify and prevent fraudulent transactions, safeguarding businesses and customers.

Benefits of Using Online Payment Gateways By accepting various payment methods, online payment gateways empower e-commerce stores to cater to a global customer base. A secure and hassle-free payment experience builds trust, encouraging repeat business. Automated payment processing reduces manual work, streamlining operations and minimizing the risk of errors. Integrating a reliable online payment gateway is a critical step for providing a secure and efficient credit card payment system in e-commerce setups.

Embracing secure credit card payment systems is not just a choice; it's a necessity. Whether operating in high-risk industries like credit repair or CBD sales or managing a thriving e-commerce store, the right payment processing solution can fuel growth. Explore the significance of high-risk merchant processing, the role of credit card payment services, and tailored solutions for various industries. By accepting credit cards, businesses ensure transaction security and pave the way for long-term success. Trust and security are the pillars on which businesses thrive. Embrace the power of secure credit card payment systems and unlock the potential for global e-commerce expansion.

[somecunttookmyurl]

absolute nightmare today lads

so like. a year ago i signed up to an online casino out of boredom, made about £100 on it, and then never went back because... well i was bored of it whatever. forgot that account was even a thing

so imagine my surprise to find £700 missing from my bank today in over 60 separate transactions that were SOMEHOW NOT FLAGGED AS SUS and also fucking authorised despite having no goddamn money

reported all of the payments to paypal (actually more than 100... like 120? transactions on there but it seems whoever was using my account made a couple withdrawals they then immediately re-deposited. dunno why. look more legit maybe?) who IMMEDIATELY. and i mean immediately. within like 5 minutes. closed the case saying there's no unauthorised activity because i used that company before one time a year ago. sure jan.

called HSBC who can't chargeback until all the transactions actually post to my account so I am now negative £400 in my available balance until they do, and they have absolutely no fucking answer for me as to why a) they ONCE AGAIN let my account go overdrawn by several hundred £ when i DONT HAVE AN OVERDRAFT and b) did not flag 60+ transactions in the span of a few hours (2 or 3 spurts) as suspicious at all. i mean really. y'all blocked my card for going to tesco twice in one day once.

contacted the casino like. uh yeah seems like someone used my account jsyk i am doing chargebacks on all this do not fight that concept. they won't investigate until i file a report with action fraud (police)

after spending an hour doing that (they want details of the transactions. all of them. inidivudally. yeah) action fraud then responded immediately to say it wasnt a reportable crime because its basically identify theft meaning the casino are fraud victims not me so they wont be investigating

yeah it sucks that someone like... hacked online casino accounts to just waste money or whatever hope they had fun but truly why the fuck did any of these go through at all

NOTHING SUSPICIOUS HERE NO SIR

[rohroy]

Prepaid Cards – Empowering Secure Transactions in India’s Digital Payment Landscape | AGS India

Prepaid card market in India is projected to witness a CAGR of 31.5% during 2021-2025, reaching USD 89.8 billion by 2025, up from USD 30 billion in 2020.

[sibyl-of-space]

The San Francisco tech scene is completely beyond satire. I'm in a discord server for game developers based in SF because even though I don't live in the bay area anymore it's still the closest hub for indie developers near me. I went to one of their meetups once, the talk itself was completely useless and I left about 30 mins in, but I did get two people to playtest my demo beforehand so it was still worthwhile. One of those things where you're in a sea of 50 people who annoy you and are able to find maybe one or two people who are cool to talk to.

Anyway, I just received a ping about their next meetup, which is-- I literally could not make up something more on the nose than this if I tried--

brought to you

by

✨ J.P. Morgan ✨

.

Actual quote from the event page:

Are you a developer looking to accept payments and monetize your users effectively? We are excited to announce this unique opportunity to get in on the ground floor and learn about how to monetize your payment flow for your gaming applications at scale. As you may be aware, the Apple App Store and other stores are now allowing outside payment methods within iPhone apps due to "anti-competitive" laws in the EU. As a result, if you are part of Apples small business program, you may be eligible for a discounted percentage fee on IAP instead of the normal 30% fee. We hope you can attend to explore these concepts and learn how you can save money on payment processing fees with J.P. Morgan Payments.

Food is sponsored by J.P. Morgan and drinks are available for purchase at the DNA Lounge bar. All proceeds from drink sales go directly to the venue which helps them keep the lights on, and also helps us continue to host events in their space. DNA Lounge is over 3,000 sqft and is the largest venue we've ever hosted our events at. Speakers will go on stage at 7:00pm. This is an all ages event, is open to the public and is a professional networking event for game developers, artists, students, indies, or really anyone interested in game development. ASL Interpretation services available upon request via email.

Speaker Lineup:

Alan Lee | Developer Relations at J.P. Morgan Payments

Enhance your Payment Experience with J.P Morgan’s Payment Developer Platform

In this session, The J.P Morgan Payments developer relations team will showcase how the Online Payments API allows you to seamlessly accept, process and settle payments from the large suite of supported payment methods. We’ll explore the extended capabilities like tools for fraud prevention, recurring payments and demonstrate how these features can help you improve authorization rates, secure transactions, and gain valuable insights into your payment flow.

so anyway if anybody needs me I will be basically anywhere except at this particular event

[beardedmrbean]

A former CNBC financial pundit and CEO-turned-fugitive accused of defrauding millions from his investors following a failed “bet against” the US economy in 2020 has been nabbed after being on the run for nearly three years.

James Arthur McDonald Jr., 52, was arrested by the FBI in Port Orchard, Wash., on Saturday and will be extradited back to California to stand trial “in the coming weeks” for his alleged crimes, according to the United States Department of Justice.

McDonald had been a fugitive since November 2021 after he failed to appear before the United States Securities and Exchange Commission to testify regarding accusations of defrauding investors.

He was the former CEO and chief investment officer for two Los Angeles financial companies: Hercules Investments LLC and Index Strategy Advisors Inc.

Along with his companies, McDonald “frequently appeared as an analyst on the CNBC financial television news network,” the DOJ reported.

His troubles began in early 2020 when the former financial adviser reportedly lost “tens of millions of dollars of Hercules client money after adopting a risky short position that effectively bet against the health of the United States economy in the aftermath of the US presidential election,” according to the DOJ.

“McDonald projected that the COVID-19 pandemic and the election would result in major selloffs that would cause the stock market to drop.”

But, when the market downturn never came to fruition, Hercules lost between “$30 million and $40 million” of clients’ funds.

By December 2020, investors began “complaining to company employees about the losses in their accounts.”

Then, in January 2021, McDonald solicited millions of dollars worth of funds from investors to raise capital for Hercules, according to the DOJ.

Making matters worse, he allegedly “misrepresented how the funds would be used” and never disclosed to investors “the massive losses Hercules previously sustained.”

McDonald is also suspected of obtaining $675,000 in investment funds he raised from one victim group, which he used to splurge on himself — “spending roughly $174,610 of them at a Porsche dealership.”

According to the DOJ, he also allegedly transferred over $100K of those funds to the landlord of a home he was renting in Arcadia, California, and then another $6,800 to an online store to buy designer clothing.

The alleged fraudster reportedly sent clients falsified account statements, “including for one client who invested approximately $351,000.”

The DOJ reported that the client later asked for his money to make a down payment on a home but was told by McDonald “that much of the money had been lost, and he never got his full investment back.”

In 2022, while on the lam, a United States District Judge found McDonald liable for $3,810,346, representing his net profits gained because of the alleged conduct, according to the SEC.

McDonald has been charged with one count of securities fraud, one count of wire fraud, three counts of investment adviser fraud, and two counts of engaging in monetary transactions in property derived from unlawful activity.

The former CNBC financial analyst made his initial court appearance on Monday in Tacoma, Wash., and is expected to be transported to Los Angeles in the coming weeks.

If found guilty, the alleged con artist could face up to 20 years in federal prison for each securities fraud and wire fraud count, 10 years for each count related to using investor funds for his benefit, and five years for one investment adviser fraud.