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.

Fraud Prevention 104

Fraud Prevention Account Takeovers Authentication Identity Theft 104

FICO

JANUARY 7, 2019

The tremendous interest in AI and machine learning drove the readership on the Fraud & Security blog in 2018. 5 Keys to Using AI and Machine Learning in Fraud Detection. Author TJ Horan, FICO vice president for fraud solutions, wrote a five-part series on the keys to using AI and machine learning in fraud detection.

Posting 74

Posting AI Fraud Detection Security 74

PYMNTS

OCTOBER 29, 2018

These initiatives could also lead to an increase in security risks, since sharing data among a range of financial service providers creates new opportunities for it to fall into the wrong hands. 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

Fi911

JANUARY 18, 2024

Common Types of Third-Party Fraud Each type of fraud (first-, second-, or third-party fraud) poses unique challenges for detection and prevention. Financial institutions employ various security measures to combat them. That said, here are some of the most common types of third-party fraud.

Account Takeovers 93

Account Takeovers MFA Fraud Detection Credit Cards 93

PYMNTS

MAY 7, 2018

That doesn’t mean that fraud linked to ACH transactions is nonexistent, however. In corporate payments, while fraud is typically linked to wire and checks , the rise in Business Email Compromise (BEC) and account takeovers means ACH fraud is a growing threat, same-day or not.

Same Day ACH 47

Same Day ACH Fraud Detection ACH NACHA 47

PYMNTS

AUGUST 21, 2020

Mobile banking is under constant attack from fraudsters, however, who are targeting both customers’ funds and personal data, such as account numbers, Social Security numbers, payment card data and login credentials. The Security Threats Facing ITMs And How FIs Can Protect Them. billion by 2024. About The Tracker.

Blocks 106

Blocks Identity Theft ATM Online and Mobile Banking 106

PYMNTS

SEPTEMBER 24, 2019

One of the biggest problems, Blanco said, is account takeover. . Account takeover, which involves the targeting of financial institution customer accounts to gain unauthorized access to funds, is an extremely common cybercrime affecting U.S. financial institutions,” he said.

Fincen 71

Fincen Account Takeovers Identity Theft Financial Crimes 71

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.

Fraud Prevention 88

Fraud Prevention Risk Assessment Payments Account Takeovers 88

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. Pangretic cautioned that there will continue to be a rising tide of email scams (phishing) and synthetic fraud.

Fraud Detection 78

Fraud Detection Online and Mobile Banking Scams Issuers 78

M2P Fintech

MARCH 24, 2025

Future technological advancements, including blockchain for secure transactions, machine learning for personalized offers, and peer-to-peer lending platforms , promise to further enhance the digital lending landscape. This future means faster, more personalized, and secure lending experiences. With the market projected to soar to $ 71.8

Payment APIs and Integration 52

Payment APIs and Integration Blockchain Regulatory Compliance Compliance 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.

Fraud Prevention 98

Fraud Prevention Account Takeovers APACS Scams 98

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

Neopay

FEBRUARY 27, 2025

This alarming statistic, highlighted in a recent report, The Battle Against AI-Driven Identity Fraud , underscores the evolving sophistication of cybercriminal tactics and the urgent need for enhanced security measures across industries. The Lag in Fraud Detection: Are You Prepared?

Deepfake 52

Deepfake Fraud Detection Account Takeovers Fraud Prevention 52

PYMNTS

FEBRUARY 26, 2020

These merchants have always been vulnerable to in-person fraud, including coupon or promotion scams, but digital channels create new avenues that bad actors can exploit. Security standards have largely not kept up with such threats, according to a joint study from Javelin Research and Kount. Selecting the Target. AI in Action.

Credential 56

Credential AI Fraud Detection Account Takeovers 56

PYMNTS

AUGUST 18, 2017

Retailers are retailers, not security experts. Too often, their best efforts can create friction at the point of sale for consumers, which leads to shopping cart abandonment and lost revenue, all while feeding the illusion of “too much security.”. There’s never ‘too much’ security,” Grant said.

Security 52

Security Account Takeovers Chip Cards Cybersecurity 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.”

Credential 64

Credential FinTech Deepfake Fraud Detection 64

The Fintech Times

AUGUST 17, 2024

“In today’s highly competitive and digital-first world, the use of behavioural analytics is now vital for innovating for the future of fighting fraud.” Empowering businesses NeuroID’s behavioural analytics solutions are available through CrossCore on the Experian Ascend Technology Platform as a key fraud-detection capability.

Risk 59

Risk Fraud Detection Bots Identity Theft 59

FICO

NOVEMBER 30, 2017

In my previous post on application fraud, we explored the drivers behind the rapid acceleration of identity-based fraud , which includes identity theft / third-party fraud, synthetic identity fraud, and first-party fraud. Managing fraud is a balancing act that starts with knowing your fraud risk appetite.

Risk 82

Risk Fraud Detection Assessments Origination 82

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

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. Any measure of security introduces friction.

AI 44

AI Account Takeovers Fraud Detection Online and Mobile Banking 44

The Fintech Times

MARCH 18, 2024

These malicious scammers are growing in number and refining their strategies, employing ever more sophisticated methods, including account takeovers, synthetic identity fraud, and social engineering scams. In the UK alone, fraudsters syphoned off £1.2billion in 2022, with almost 80 per cent of app fraud cases starting online.

Fraud Prevention 59

Fraud Prevention AI Fraud Detection Payments 59

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

Fraud Prevention 43

Fraud Prevention Fraud Detection Account Takeovers Data Breach 43

PYMNTS

OCTOBER 8, 2020

Mobile ordering services, advanced drive-thrus and customer safety and security are the top customer priorities for restaurants amid the pandemic. Safety and Security. Securing payment data and other aspects of the customer experience is the keystone to driving customer demand during the pandemic and in the future.

Innovation 56

Innovation Account Takeovers Fraud Detection Bots 56

PYMNTS

FEBRUARY 10, 2017

The bigger and more widespread cyber threat, as opposed to shimmers, may actually be the ability for cybercriminals to use or sell stolen data for fraudulent online purchases that are typically made in groups of small purchases as to go undetected by fraud detection systems. has fallen significantly behind the curve.

Account Takeovers 56

Account Takeovers CHIPS Chip Cards Fraud Detection 56

The Fintech Times

AUGUST 13, 2024

Since securing a Series A funding round in November 2023, Lynx Tech introduced its AI-driven software solutions to solve clients’ most significant fraud and financial crime challenges. Specialising in detecting and predicting financial behavioural patterns, we continue to develop solutions based on our self-learning AI technology.

AI 59

AI Fraud Detection Fraud Prevention Phishing 59

PYMNTS

NOVEMBER 25, 2019

To that end, OneSpan said earlier in the month that Poland’s Bank Millennium has deployed OneSpan’s Cronto technology to secure transactions and enhance the corporate banking experience, tied in part to encryption. At the same time, fraud remains a pressing and persistent problem. By way of one example, U.S.

Account Takeovers 56

Account Takeovers Fraud Detection Encryption Regulations 56

Seon

MAY 28, 2024

Focusing on combating key issues like bonus abuse, multi-accounting, bot activity and affiliate fraud, we’ll examine the attack vectors that can diminish trust and financial stability if they are not addressed efficiently. Strengthen Fraud Defenses Elevate iGaming security with advanced fraud and AML.

Security 52

Security Fraud Prevention Bots AML 52

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.

Identity Theft 52

Identity Theft Money Laundering Account Takeovers Fraud Prevention 52

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 Fraud Prevention 57

PYMNTS

APRIL 24, 2020

Incidences of account takeover (ATO) were up 347 percent and shipping fraud skyrocketed 391 percent, respectively, from 2018 to 2019, before anyone except virologists had ever heard of COVID-19. Fraud experts are seeing renewed vigor among online crooks as COVID-19 confusion roils markets flooded with bailout dollars.

Account Takeovers 58

Account Takeovers Fraud Detection AI IRS 58

PYMNTS

JANUARY 9, 2019

To beat fraudsters at their own game, retailers must change the technology they are relying on and do so in a way that doesn’t add friction to the user experience, said Shamoun Siddiqui, chief information security officer for luxury department store chain Neiman Marcus. How Omnichannel Is Changing The Way Luxury Retailers Respond To Fraud.

Fraud Detection 43

Fraud Detection Data Breach Account Takeovers Breach 43

PYMNTS

JANUARY 31, 2020

Consumers appear to be moving their debit payments away from brick-and-mortar stores toward eCommerce channels, meaning FIs and card issuers must work to support them while minimizing online security risks. These organizations need to fend off anything threatening, combatting both popular and emerging debit fraud attack methods.

ATM 59

ATM Debit Card Fraud Detection Credential 59

FICO

FEBRUARY 16, 2022

US customers and their banks are familiar with different types of fraud including card, identity, and payment related frauds. Most respondents in the US reported that they are most worried about card fraud, having their stolen identity used to open an account, and Account Takeover (ATO) fraud.

Consumer 52

Consumer Scams Fraud Detection Fraud Prevention 52

FICO

FEBRUARY 16, 2022

US customers and their banks are familiar with different types of fraud including card, identity, and payment related frauds. Most respondents in the US reported that they are most worried about card fraud, having their stolen identity used to open an account, and Account Takeover (ATO) fraud.

Verification 52

Verification Consumer Scams Fraud Detection 52

PYMNTS

JANUARY 24, 2020

“To the greatest extent possible, align your [company’s] identity, fraud and cyber practices, [and] ensure [it maintains] data and visibility across those different environments. That will be your best bet to combat fraud across an omnichannel environment.” . Security’s New Face.

Issuers 61

Issuers Card Issuer Authentication Processors 61

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

PYMNTS

MARCH 5, 2019

The executive said that among the most important factors in both sides of the relationship – that is, travelers and home owners – are “trust, protection and reliability,” noting that “every traveler should trust that their payment is secure, and every homeowner should feel confident that they receive payments on time.”.

Economy 59

Economy Cross-Border Alternative Payment Methods Account Takeovers 59