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, Client, 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.

  • 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 8.09(a).

  • Termination Payment Date means the earlier of the first Distribution Date following the liquidation or sale of the Receivables as a result of an Insolvency Event and the occurrence of the Scheduled Series 1995-1 Termination Date.

  • 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 With respect to any Distribution Date on or prior to the Swap Contract Termination Date, an amount equal to the sum of (i) any Current Interest and Interest Carry Forward Amounts in respect of the Benefited Certificates, (ii) any Net Rate Carryover in respect of the Benefited Certificates, (iii) any Unpaid Realized Loss Amounts in respect of the Benefited Certificates and (iv) any Overcollateralization Deficiency Amount, in each case remaining unpaid (or in the case of Overcollateralization Deficiency Amount, remaining) following the distribution to the Benefited Certificates of Excess Cashflow and Credit Comeback Excess Cashflow pursuant to Section 4.04(c) of the Pooling and Servicing Agreement. With respect to any Distribution Date after the Swap Contract Termination Date, zero.

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

  • 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 2.03(b)(iii) below.

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

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