Payment fraud definition

Payment fraud means a fraudulent payment
Payment fraud means a fraudulent payment transaction made by the unauthorized use of a payment card or other electronic means.
Payment fraud means a communication from a Third Party purporting to be from an Employee, customer, vendor or business affiliate that intentionally misleads an Employee and requests the transfer, payment or delivery of Money or Securities.

Examples of Payment fraud in a sentence

  • Payment fraud can include: creating bogus customer records and bank accounts so that false payments can be generated.

  • Certain types of Authorised Push Payment fraud can also be addressed through the use of CoP, where the fraudster impersonates another person or entity as the CoP check would not match.

  • Payment fraud can be characterized as fraudulent or unauthorized transactions, lost or stolen merchandise, false requests for a refund, return or bounced checks.

  • Payment fraud can include fraudulent or unauthorised transactions, lost or stolen merchandise or false requests for a refund, return or bounced checks.

  • In case reimbursement problems are detected, this proof can be used as evidence.• Payment fraud detection capability (D6).

  • Based on Mckinsey’s research the potential total annual value of AI and analytics across industries will reach to $9.5T - $15.4T (The executive’s AI playbook, McKinsey Analytics) These AI applications already made much changes and values in many industries through work process automation and optimization: Banking Payment fraud, payment automation, risk management, loan approvals, credit scoring, collections, customer acquisition and retention.

  • Building on its demonstrated success, we apply the Critical Decision Method to guide our investigation.

  • Payment fraud prevention relies on two specific KPIs: (mon- etary) it rate and false alarm ratio.

  • Fraud Payment fraud is any type of false or illegal transaction completed by a cybercriminal.

  • In addition, Carl Clump, CEO of Retail Decisions, said that Payment fraud reached$2.14 billion in 2009 in the United States (Hernandez, 2010).

Related to Payment fraud

  • Loss of Value Payment As defined in Section 2.03(a) of this Agreement.

  • Settlement Payment means the transfer, or contractual undertaking (including by automated clearing house transaction) to effect a transfer, of cash or other property to effect a Settlement.

  • Payout Amount means the vested portion of the Final Amount expressed as an amount of cash equal to the Fair Market Value of the shares of Stock underlying the RSUs and related Dividend Equivalents.

  • Agent Payment Account means account no. 5000000030266 of Agent at Wachovia Bank, National Association, or such other account of Agent as Agent may from time to time designate to Administrative Borrower as the Agent Payment Account for purposes of this Agreement and the other Financing Agreements.

  • Down payment means all partial payments, whether made in cash or otherwise, received by or for the benefit of the seller before or substantially contemporaneous with either the execution of the installment sale contract or the delivery of the motor vehicle sold under that contract, whichever occurs later.

  • Estimated Swap Termination Payment means, with respect to an Early Termination Date, an amount determined by Party A in good faith and in a commercially reasonable manner as the maximum payment that could be owed by Party B to Party A in respect of such Early Termination Date pursuant to Section 6(e) of the ISDA Master Agreement, taking into account then current market conditions.

  • Payment Amount as defined in Section 3.5.

  • Cash Payment System means a payment system that generates any transfer of funds through a transaction originated by cash, check, or similar paper instrument. This includes electronic payments to a financial institution or clearing house that subsequently issues cash, check, or similar paper instrument to the designated payee.

  • Late Payment Fee means the excess of the Price Differential paid as a result of its calculation at the Post-Default Rate over the Price Differential as would have been calculated at the Pricing Rate.

  • Distribution Payment Date has the meaning set forth in paragraph 2(b) of Annex I.

  • Payment Ahead means, with respect to a Precomputed Receivable and a Collection Period, any Excess Payment (not representing, when added to any Deferred Prepayment with respect to such Precomputed Receivable, a prepayment in full of such Precomputed Receivable) which the Servicer, in accordance with its customary servicing practices, will apply towards the payment of Scheduled Payments due in one or more future Collection Periods.

  • Payment Recipient has the meaning assigned to it in Section 11.12(a).

  • Termination Payment Date means the date on which the RECIPIENT is required to repay to ECOLOGY any outstanding balance of the loan and all accrued interest.

  • Calculation Amount means the amount specified as such on the face of any Note, or if no such amount is so specified, the Denomination Amount of such Note as shown on the face thereof;

  • Series A Distribution Payment Date has the meaning assigned to such term in Section 5.11(b)(i)(A).

  • Net Payment means the amount the Issuer or any paying agent pays the Holder after deducting or withholding an amount for or on account of any present or future tax, assessment or other governmental charge imposed with respect to that payment by a taxing authority (including any withholding or deduction attributable to additional amounts payable pursuant to this Section).

  • Transfer Payment Received As defined in Section 4.03.

  • PAGA Payment means the penalties pursuant to PAGA that the Parties have agreed is a

  • Upfront Payment has the meaning set forth in Section 4.1.

  • Agreement Payment means a Payment paid or payable pursuant to this Agreement.

  • Coupon Payment Date means each day specified to be an Coupon Payment Date in the Product Terms.

  • Settlement Amount has the meaning specified in Section 14.02(a)(iv).

  • Improper Payment means: (a) any payment, offer, gift or promise to pay or authorization of the payment or transfer of other things of value, including without limitation any portion of the compensation, fees or reimbursements received hereunder or the provision of any service, gift or entertainment, directly or indirectly to (i) a Government Official; (ii) any director, officer, employee or commercial partner of a Party or its Affiliates; or, (iii) any other person at the suggestion, request or direction or for the benefit of any of the above-described persons and entities, for purposes of obtaining or influencing official actions or decisions or securing any improper advantage in order to obtain, retain or direct business; (b) payments made and expenses incurred in connection with performance of obligations under this Agreement that are not made and recorded with sufficient accuracy, detail, and control to meet the standards in applicable Anti-Corruption Laws; or, (c) any other transaction in violation of applicable Anti- Corruption Laws.

  • Termination Payment has the meaning set forth in Section 6.03.

  • Cash Payment has the meaning set forth in Section 2.02(a).

  • Debit Payment means a particular transaction where a debit is made.