PYMNTS

JULY 9, 2020

Banks have been facing a concerning rise in account takeover (ATO) attacks targeting their customers, with financial institutions (FIs) losses due to such schemes rising 72 percent from 2018 to 2019. The July FI Fraud Decisioning Playbook examines how FIs are working to better detect and defend against ATOs.

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Fraud Prevention Account Takeovers Authentication Identity Theft 104

Fi911

JULY 8, 2024

Furthermore, the growing sophistication of fraud techniques, including synthetic identity fraud and account takeovers, exacerbates the challenge. This makes it imperative for businesses to stay ahead with robust fraud detection and prevention strategies.

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Account Takeovers Fraud Detection Phishing Fraud Prevention 94

PYMNTS

MAY 28, 2020

Digital-fraud-protection company Kount said Thursday (May 28) that Mercator Advisory Group has named it the best eCommerce Fraud Detection Solution from among more than 40 products ranked. 1 in the detection/action and delivery categories and had the highest score overall — 4.58 Kount placed No. Kount placed No.

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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?

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Account Takeovers Accounts Authentication Data Breach 52

Fraud.net

MARCH 29, 2024

Discover advanced fraud detection systems used by banks and explore the solutions offered by Fraud.net for proactive fraud prevention.

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Fraud Detection Fraud Prevention Identity Theft Account Takeovers 52

Fintech Finance

OCTOBER 21, 2024

Award-winning Swiss FinTech, NetGuardians , known for its enterprise risk platform focused on combating bank fraud, has been chosen by PalawanPay , the e-wallet app from the Palawan Group of Companies, to bolster its fraud prevention measures. PalawanPay and other financial institutions are taking these threats seriously.

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Fraud Prevention Account Takeovers APACS Scams 98

The Payments Association

DECEMBER 11, 2024

Digital payments demand advanced fraud prevention, blending AI and human intelligence to counter evolving threats while ensuring seamless user experiences. Multifaceted approaches to fraud prevention Effective fraud prevention now requires a combination of technological and human intelligence, transcending traditional security models.

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Fraud Prevention Risk Assessment Payments Account Takeovers 88

Fraud.net

DECEMBER 1, 2023

Modern account takeover protection requires implementing machine learning, geolocation, and anomaly detection to spot and prevent ATO fraud.

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Account Takeovers Best Practices Accounts Fraud Detection 52

PYMNTS

JULY 2, 2020

But the bad news is that fraudsters see a once-in-a-lifetime opportunity to jump into the increased flow of transactions, Gary Sevounts , executive at fraud detection firm Kount , told PYMNTS in a recent conversation. He added that fraudsters have been showing up across the board in terms of fraud types attempted.

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Transactions Push-to-Card Account Takeovers Fraud Prevention 112

PYMNTS

MARCH 22, 2018

Fraud detection startup Sift Science has raised $53 million in a series D round, bringing its total amount raised to $107 million. Founded in 2011, Sift Science plans to use this latest round of funding to grow its fraud detection and prevention product globally. For example, Palo Alto-based Simility received $17.5

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Fraud Prevention Fraud Detection Account Takeovers Data Breach 43

Neopay

FEBRUARY 27, 2025

The study, which surveyed over 1,200 financial and payment sector professionals across seven European countries, found that account takeover remains the leading type of fraud affecting customers, followed by card payment fraud and phishing. The Lag in Fraud Detection: Are You Prepared?

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Deepfake Fraud Detection Account Takeovers Fraud Prevention 52

The Fintech Times

AUGUST 17, 2024

Empowering businesses NeuroID’s behavioural analytics solutions are available through CrossCore on the Experian Ascend Technology Platform as a key fraud-detection capability. Experian’s identity verification and fraud prevention solutions helped clients avoid an estimated $15billion in fraud losses globally last year.

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Risk Fraud Detection Bots Identity Theft 59

PYMNTS

FEBRUARY 26, 2020

This also means fraud runs relatively unchecked among quick-service restaurants (QSRs), with total fraud losses on an average order of $15 reaching as high as $36.25. AI systems can prevent these attacks and are inexpensive when compared to the cost of human fraud prevention teams. Selecting the Target.

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Credential AI Account Takeovers Fraud Detection 56

PYMNTS

MAY 5, 2020

The good news, Pangretic added, is that consumers and businesses are getting better at detecting fraudsters trying to ply their trade across mobile and online transactions. This can really create a proactive communications strategy to significantly decrease the incidence of successful fraud attempts,” said Pangretic.

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Fraud Detection Online and Mobile Banking Scams Issuers 78

Seon

SEPTEMBER 11, 2023

As neobanks evolve, the one downside of their innovation is that it opens up many new methods of attack for fraudsters, such as identity theft, fraud rings, and account takeover attacks. We know neobank risk teams must stay aware of evolving threats and take an active approach to closing those routes to fraud.

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Identity Theft Money Laundering Account Takeovers Fraud Prevention 52

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.”

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Credential FinTech Deepfake Fraud Detection 64

The Fintech Times

AUGUST 13, 2024

How do the Latin American AI and anti-fraud sectors compare to that of the rest of the world? While fraudsters attempt to use AI for nefarious purposes, Latin America is firmly embracing the technology to fight back with advanced fraud detection and prevention tools that learn and adapt over time.

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AI Fraud Detection Fraud Prevention Phishing 59

Fintech Finance

FEBRUARY 29, 2024

Socure , the leading provider of artificial intelligence for digital identity verification, sanction screening and fraud prevention, and Trustly , a leading global Open Banking payments provider, today announced an industry-first partnership to offer merchants and fintechs a streamlined onboarding and guaranteed Pay by Bank solution.

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FICO

MARCH 9, 2022

The new digital environment presents a delicate balancing act between ensuring effective fraud prevention and potential risks associated with delivering frictionless customer experiences. Consumers Are Less Worried About Scams than Other Forms of Fraud. In reality, they make up only 16% and 5% of UK fraud. . .

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Fraud Prevention Scams Online and Mobile Banking Account Takeovers 59

Finovate

MAY 2, 2024

Specifically, the fraud prevention company will leverage Permia’s Continental European ties, with an aim to add new clients in that region. BioCatch expects the move will help it accelerate its product roadmap and support its growth in general.

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Acquirers Account Takeovers Fraud Detection Fraud Prevention 52

PYMNTS

OCTOBER 1, 2019

In the study, the most common challenge cited by businesses was balancing fraud prevention and customer friction (68 percent), a 65 percent increase from the previous year. According to Kount CEO Brad Wiskirchen, AI and ML can help QSRs and other restaurants become more proactive about fraud rather than reactive. problematic.

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Data Breach Breach Account Takeovers Fraud Prevention 57

FICO

FEBRUARY 16, 2022

FICO published our 2021 Digital Consumer Banking and Fraud Survey today that emphasizes consumer perspectives on customer experience and fraud prevention management. . US customers and their banks are familiar with different types of fraud including card, identity, and payment related frauds.

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FICO

FEBRUARY 16, 2022

FICO published our 2021 Digital Consumer Banking and Fraud Survey today that emphasizes consumer perspectives on customer experience and fraud prevention management. . US customers and their banks are familiar with different types of fraud including card, identity, and payment related frauds.

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Verification Consumer Scams Fraud Detection 52

PYMNTS

JULY 18, 2018

How exactly fraud attacks and fraud prevention will change in the post-PSD2 world remains unclear, but change is certain, according to observers. The report covers ways in which call center operations are fighting fraud — including in Europe, the home of PSD2. Fraud prevention is certainly getting more sophisticated.

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

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.

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AI Account Takeovers Fraud Detection Online and Mobile Banking 44

Seon

JULY 10, 2024

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. It focuses on monitoring transactions to identify and detect fraudulent activities related to money movement.

Transactions 52

Transactions Fraud Prevention Regulatory Compliance Payments 52

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.

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Account Takeovers Fraud Detection Fraud Prevention Best Practices 41

PYMNTS

OCTOBER 29, 2018

Since FIs are unfamiliar with these emerging transaction activities, it becomes challenging for them to adjust their cyberattack detection and prevention strategies. Digital fraudsters could target data as it’s being transmitted by APIs.

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Security Payment APIs and Integration API Authentication 76

Seon

MAY 28, 2024

The importance of robust fraud prevention and anti-money laundering (AML) solutions in the iGaming sector cannot be overstated. There is an opportunity to boost profitability by refining fraud prevention and AML efforts. Strengthen Fraud Defenses Elevate iGaming security with advanced fraud and AML.

Security 52

Security Fraud Prevention Bots AML 52

PYMNTS

NOVEMBER 4, 2019

Rahul Pangam, co-founder and CEO of fraud detection services firm Simility , recently spoke to PYMNTS about fighting fraud in emerging and developing markets, which aren’t one and the same. However, retailers are missing out on this opportunity due to fraud concerns. Retail Fraud Prevention and Solutions .

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Online and Mobile Banking Cross-Border Federal Trade Commission Fraud Prevention 49

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.

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Fraud Detection Payments Audit Fraud Prevention 52

Clearly Payments

JULY 16, 2024

Fraud Rate by Industry in 2023 Credit card fraud is a pervasive issue impacting various industries, each with unique vulnerabilities and estimated fraud rates. Rank Industry Fraud Rate Most Common Fraud Type 1 Travel and Hospitality 3.2% of all reported fraud cases. billion in losses.

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PYMNTS

JANUARY 16, 2020

The platform now offers real-time authentication, as well as fraud detection tools that examine voice and other biometric factors. For more on this and other stories, visit the Playbook’s News & Trends section. RVShare Uses AI, Machine Learning To Preserve Owner And Renter Trust.

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PYMNTS

SEPTEMBER 28, 2017

Fraudsters study the companies they’re hoping to dupe, looking closely at fraud prevention systems, tokenization efforts and “what companies do to protect themselves,” Barnhardt explained. All too often, Barnhardt said, companies confuse “true name” fraud – account takeovers – with synthetic identity fraud.

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Enrollments Breach Fraud Detection Social Security 43

Seon

JULY 27, 2023

Revise your fraud prevention strategy. Even if your fraud prevention strategy has so far been effective for your bank, remember that the implications for fraud will be different after FedNow has entered the scene. How Will FedNow’s Instant Payments Impact Fraud Detection?

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PYMNTS

OCTOBER 11, 2018

Their systems can spot fraud in a single instance, such as a user trying to break into the system with stolen credentials. The fraud detection system obviously needs to first stop the attempted break-in at that single touchpoint.

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Credit Union Fraud Detection Online and Mobile Banking Account Takeovers 56

PYMNTS

APRIL 24, 2018

With the advent of technology and the prevalence of online shopping, the term eCommerce fraud has become more general and more vague. Of these, none are more insidious than Account Takeover, aka ATO. Nipping Fraud in the Bud. Under it, there are numerous types of categories and attacks.

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