Payment fraud definition

Payment fraud means a fraudulent payment
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Payment fraud means a fraudulent payment transaction made by the unauthorized use of a payment card or other electronic means.
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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.
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Examples of Payment fraud in a sentence

  • Payment fraud becomes increasingly sophisticated, with fraudsters using manipulative and impersonating techniques which are difficult for payment service users to detect without a sufficient level of awareness and information about fraud.

  • Payment fraud data shared under a multilateral information sharing arrangement that may entail the disclosure of personal data, including unique identifiers of payees potentially involved in fraud in credit transfers, should only be used by payment services providers for the purpose of enhancing transaction monitoring.

  • Payment fraud data shared amongst payment services providers in the context of such arrangements should not constitute grounds for withdrawal of banking services without detailed investigation.

  • MFAT is the Agency nominated to lead the procurement process and to contract with the Successful Respondent for the provision of the services (refer ToR).All decisions relating to this procurement will be jointly made by the Agencies.

  • Aligned to the rest of the industry, we continue to experience losses related to Push Payment fraud.

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

  • 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.

  • Matvey SurkovWe call a rook placement D non-singular if the fact that α and β are in D implies that α β / D.

  • CoP addresses certain types of Authorised Push Payment fraud, by introducing another hurdle for fraudsters, and giving effective warnings to customers about the risks of sending payments to an account where the name did not match.

  • We also see a need under the Duty (its customer support outcome in particular) for firms to consider their handling of alleged cases of fraud, especially Authorised Push Payment fraud, and of complaints about such.

Related to Payment fraud

  • 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.

  • 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.

  • Payment Recipient The meaning specified in Section 11.10(a).

  • 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;

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

  • Settlement Amount means, with respect to a party and any Early Termination Date, the sum of: --

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

  • Adjustment Payment shall have the meaning specified in Section 3.09(a).