Fintech Finance

FEBRUARY 29, 2024

By combining Socure’s accurate and inclusive identity verification and fraud prevention ID+ platform with Trustly’s guaranteed Pay by Bank offering, merchants can onboard users and process payments in one integrated flow. Trustly, with direct banking integrations, provides instant Open Banking payments with transaction guarantees.

Fraud Prevention 52

Fraud Prevention Process FinTech Online and Mobile Banking 52

Fintech Finance

AUGUST 2, 2024

ComplyTek introduces an advanced transaction screening solution for instant payments , designed to ensure compliance and mitigate fraud within the critical 10-second processing window. Leveraging machine learning and AI, the platform offers comprehensive monitoring and fraud detection capabilities.

Instant Payments 94

Instant Payments Transactions Payment APIs and Integration Compliance 94

Clearly Payments

JULY 16, 2024

Rank Industry Fraud Rate Most Common Fraud Type 1 Travel and Hospitality 3.2% POS fraud incidents rose by 27% in 2023, highlighting the growing threat to physical retail locations. According to the Association of Certified Fraud Examiners (ACFE) , financial institutions account for 16.8% billion in losses.

Risk 52

Risk Identity Theft Phishing Account Takeovers 52

PYMNTS

JUNE 13, 2019

If it seems like cases of fraud and hacking are always in the news, that’s because new incidents pop up practically every day. One of the latest involves hackers successfully accomplishing account takeovers (ATOs) of users of Zelle, the digital payment service. acquire personal data via account takeovers.

AI 44

AI Account Takeovers Fraud Detection Online and Mobile Banking 44

PYMNTS

MAY 5, 2020

In an interview with PYMNTS, Mitch Pangretic, senior vice president of strategic partnerships at Elan , said that in-person card fraud may have decreased thanks to EMV chips and multi-factor authentication, but card-not-present (CNP) scams are increasingly gaining traction.

Fraud Detection 78

Fraud Detection Online and Mobile Banking Scams Issuers 78

The Fintech Times

DECEMBER 21, 2023

Today we hear insights from payments experts, including the adoption of tap-to-pay technology, the role of blockchain and AI in payments, flexible payment terms, security in authentication methods, PSD3 implementation, vertical-specific solutions, and the rise of digital wallets.

Cross-Border Payments 115

Cross-Border Payments Cross-Border Online and Mobile Banking Payments 115

PYMNTS

AUGUST 21, 2020

Hacking, cybercrime and various forms of digital fraud are a never-ending worry for digital-first banks, with fraudsters leveraging techniques as diverse as phishing schemes, identity theft, account takeovers and botnets to target both banks themselves and their customers. About The Tracker.

Blocks 106

Blocks Identity Theft ATM Online and Mobile Banking 106

PYMNTS

JANUARY 16, 2020

Biometric authentication solutions provider BehavioSec is among those innovating its products for more protection, announcing upgrades to its behavioral biometrics platform surrounding customer authentication and other verification safeguards. Experimentation with biometrics and other behavioral analysis tools is also advancing.

AI 53

AI Identity Theft Authentication Verification 53

PYMNTS

JANUARY 24, 2020

Merchants can better trust transactions made with cards issued by firms with strong authentication approaches, for example. . This is “because that trust should be derived through the payment channel [as well as] through authentication capabilities, [bridging] the issuer to the merchant, and folks like Worldpay facilitate those connections.

Issuers 61

Issuers Card Issuer Authentication Processors 61

FICO

MARCH 22, 2022

Account takeover fraud (ATO) occurs when an unauthorized person takes control of an account. The fraudster takes steps to actively control the account, for example by applying for a new card or changing the account contact information or password. What Do Fraudsters Do with Accounts They Have Taken Over?

Account Takeovers 52

Account Takeovers Accounts Authentication Data Breach 52

PYMNTS

OCTOBER 29, 2018

In this Deep Dive, PYMNTS examines the authentication challenges posed by PSD2 and other data sharing initiatives, and the security risks that may be lurking in open banking systems. New open banking tools mean new types of financial transactions, which could make fighting digital fraud even more difficult for banks.

Security 76

Security Payment APIs and Integration API Authentication 76

FICO

AUGUST 24, 2020

Contextual decision-making capabilities are already in place at banks that use the FICO® Falcon® Platform for fraud management, which comes with built-in functionality for real-time payments, person-to-person payments, card not present transactions, application and identity fraud, mobile wallets, payment cards account takeover and more.

Online and Mobile Banking 52

Online and Mobile Banking Mobile Deposit Funds Availability Fraud Detection 52

Seon

JULY 10, 2024

Fraud monitoring is a broader term encompassing the overall detection and prevention of fraudulent activities within an organization. These may include various types of fraud, such as identity theft, account takeover, payment fraud and application fraud. Fraud transaction monitoring’s scope is narrow.

Transactions 52

Transactions Fraud Prevention Regulatory Compliance Payments 52

PYMNTS

JULY 30, 2020

With so much highbrow industry chatter about topics like payments fraud detection, it’s good to remember that this is actual crime-fighting. Traditional fraud-fighting approaches often fail against scammers who use synthetic IDs to trick financial institutions (FIs) into letting them open new accounts. Check it out.

Law Enforcement 56

Law Enforcement Credit Union Account Takeovers Federal Reserve 56

PYMNTS

JANUARY 31, 2020

Doug Clare, vice president of fraud product management at FICO – a consumer credit score, analytics software and fraud detection platform provider – knows this dilemma well. He recently spoke with PYMNTS about what it takes to keep debit cards and their associated bank accounts safe from cybercriminals. .

ATM 59

ATM Debit Card Fraud Detection Credential 59

FICO

MARCH 9, 2022

Our survey revealed that the primary fraud concerns for the UK banking population do not match the kind of fraud that is having the biggest impact in the UK. For consumers, the biggest concerns are falling victim to account takeover (26%), and ID theft (26%). In reality, they make up only 16% and 5% of UK fraud. . .

Fraud Prevention 59

Fraud Prevention Scams Online and Mobile Banking Account Takeovers 59

PYMNTS

MARCH 30, 2016

TSYS’ ProPay has paired up with InfoTrax to help direct selling companies battle fraudsters by integrating ProPay’s Guardian CyberShield fraud detection and protection service into its DataTrax back-office software. It is also used to prevent account takeover, payment fraud, identity spoofing, malware and data breaches.

Account Takeovers 41

Account Takeovers Fraud Detection Fraud Prevention Best Practices 41

PYMNTS

OCTOBER 1, 2019

Sophisticated AI tools are being used by QSRs to enable ordering via voice assistants, to work behind the scenes and to make operations more efficient, as well as to help fight fraud. QSRs are fighting back against bad actors by partnering with third-party payment processors and incorporating security technologies to authenticate customers.

Data Breach 57

Data Breach Breach Account Takeovers AI 57

PYMNTS

SEPTEMBER 6, 2019

The number of facilities looking for alternatives has doubled since 2018, with 17 percent utilizing MFA to better protect against fraud. The need for newer, stringent authentication comes as call centers — especially those for banks and other financial services — are getting hit with increasingly sophisticated fraud.

MFA 49

MFA Authentication Phishing Verification 49

PYMNTS

JULY 18, 2018

Those increases result in more pressure being put on fraud detection systems — which, in turn, provide obvious opportunity for businesses that sell fraud prevention technology. Fraud prevention is certainly getting more sophisticated. Call Center Threat.

Fraud Prevention 41

Fraud Prevention Account Takeovers Online and Mobile Banking On-Demand 41

The Fintech Times

MAY 22, 2024

The report found that card ID theft increased, with losses up 53 per cent to £79.1million, as many criminals reverted to stealing ID and falsely applying for new credit cards or account takeovers, were they not able to trick someone through APP.

Scams 59

Scams Finance Push-to-Card Romance Scams 59

Finovate

AUGUST 14, 2024

Use cases for Selfie Reverification include preventing account takeover, securing high-risk transactions, streamlining account recovery and re-verification/re-validation, and more. “Our goal is to help our customers manage security while providing the best experiences for their account holders.”

Credential 64

Credential FinTech Deepfake Fraud Detection 64

Fintech Labs Insights

DECEMBER 20, 2016

At its FinDEVr Silicon Valley debut this fall , digital authentication specialist NuData demonstrated how its technology, NuDetect , enabled verification using a combination of behavioral biometrics identification and analytics, device location, and entity linking.

Security 17

Security Identity Theft Account Takeovers Fraud Detection 17

Nanonets

MAY 31, 2023

Common examples of external payment fraud include: Impersonation: Fraudsters pose as legitimate customers or vendors to deceive organizations into making unauthorized payments. Account Takeover: Criminals gain unauthorized access to customer accounts, allowing them to make fraudulent transactions or transfer funds.

Fraud Detection 52

Fraud Detection Payments Audit Fraud Prevention 52

Finovate

MAY 2, 2024

The company leverages behavioral biometric intelligence to offer account opening fraud detection, mule account detection, account takeover protection, customer authentication solutions, and more.

Acquirers 52

Acquirers Account Takeovers Fraud Detection Fraud Prevention 52

Fintech Labs Insights

AUGUST 22, 2024

Spring/West 2020 (Digital): Breach Clarity (acquired by TransUnion): Cybersecurity solutions for financial fraud detection, received critical acclaim for its innovation. iProov: Raised $70M, leading the way in online biometric authentication, securing important European governmental contracts.

Online and Mobile Banking 15

Online and Mobile Banking Acquirers Payment APIs and Integration AI 15

Fintech Labs Insights

FEBRUARY 14, 2017

Through the partnership, Israel-based BioCatch will leverage consumer behavior to power continuous authentication for the Nuance Security Suite solution. this is through continuous authentication and by extension, behavioral biometrics, because it works in the. background, passively, without disrupting the user experience.

Account Takeovers 16

Account Takeovers Fraud Detection Fraud Prevention Authentication 16

Seon

MAY 8, 2024

Multi-Accounting Detection Through meticulous tracking of device and browser IDs associated with each user account, device intelligence facilitates the detection of multiple users accessing your platform from the same device, enabling proactive measures to preserve the integrity of your user base.

Online and Mobile Banking 52

Online and Mobile Banking Fraud Prevention Account Takeovers Bots 52

Seon

JUNE 21, 2023

Like any online account, virtual credit card accounts, the mobile wallets they are kept in, and even the online bank accounts they may be connected to are vulnerable to account takeover (ATO) fraud , phishing, and more sophisticated attacks, such as man-in-the-middle attacks.

Credit Cards 52

Credit Cards Risk Online and Mobile Banking Phishing 52