Clearly Payments

JULY 16, 2024

According to the Association of Certified Fraud Examiners (ACFE) , financial institutions account for 16.8% Account Takeover (ATO): Fraudsters gain unauthorized access to customer accounts to steal funds or conduct illicit transactions. million cases of medical identity theft, resulting in $41 billion in losses.

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Risk Identity Theft Phishing Account Takeovers 52

The Fintech Times

AUGUST 17, 2024

Experian’s identity verification and fraud prevention solutions helped clients avoid an estimated $15billion in fraud losses globally last year. 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

Finovate

AUGUST 14, 2024

Digital identity verification innovator Socure has unveiled its Selfie Reverification solution. Built on the company’s Document Verification (DocV) solution, Selfie Reverification also detects signs of deepfaking, and readily identifies age discrepancies between the photo and the credential.

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Credential FinTech Deepfake Fraud Detection 64

Fi911

JANUARY 18, 2024

They demonstrate the diverse methods and strategies employed by fraudsters to exploit individuals and financial institutions for their own gain: Identity Theft A criminal steals an individual’s personal information, such as Social Security number, bank account details, or credit card information, and uses it to impersonate the victim.

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Account Takeovers MFA Fraud Detection Credit Cards 94

Fintech News

JUNE 6, 2024

The Jumio 2024 Online Identity Survey reveals that 85% of Singaporean consumers are willing to spend more time on identity verification measures when accessing financial services accounts to improve security. The benefits of digital identity verification extend beyond just enhanced security.

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Scams Phishing Deepfake Verification 89

Seon

JUNE 24, 2024

The rise of online transactions and evolving cybercrime tactics highlight the urgent need for strong identity risk management and monitoring. Identity theft presents significant challenges to businesses, making proactive risk mitigation essential for regulatory compliance, trust, asset protection, and operational integrity.

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Risk Management Mitigation Risk Identity Theft 52

FICO

JANUARY 11, 2021

Identity-based fraud takes many forms: application fraud , bust-out fraud , account takeover , synthetic identities and identity theft. In response, many institutions have deployed layered controls to ensure they are interacting with genuine customers and help stop identity fraud. Authentication.

Online and Mobile Banking 52

Online and Mobile Banking Authentication Identity Theft Verification 52

PYMNTS

JANUARY 16, 2020

Trade finance and supply chain digitalization company Tradeshift has partnered with fraud protection solutions firm SiS to ward against this, developing a solution that uses blockchain technology for more robust identity verification. Experimentation with biometrics and other behavioral analysis tools is also advancing.

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AI Identity Theft Authentication Verification 53

PYMNTS

JUNE 22, 2020

Consider the fact that, as estimated by Javelin Strategy and Research, the combined estimated losses of new account fraud and account takeover in the U.S. When it comes to identity and risk management, there are so many smaller hills along the way that you have to scale and figure out: Is this a fraudster?

Identity Theft 77

Identity Theft Database Account Takeovers Issuers 77

PYMNTS

JUNE 13, 2019

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. If it seems like cases of fraud and hacking are always in the news, that’s because new incidents pop up practically every day.

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AI Account Takeovers Fraud Detection Online and Mobile Banking 44

PYMNTS

JANUARY 23, 2020

Many of these data breaches are the result of phishing, which dupes victims into giving up login credentials or other sensitive information that is either used for account takeovers or sold on dark-web marketplaces. Phishing is an enormous fear for businesses, with attacks accounting for 90 percent of data breaches.

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Phishing Data Breach Breach Scams 64

FICO

SEPTEMBER 8, 2022

One of the issues is that the platform is often used for transacting small dollar amounts, where hardly any authentication or verification checks are used, making users more vulnerable to fraud. These pit the need for superior fraud management against the desire for easier customer communication, authentication, and verification preferences.

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Posting Real Time Payments Scams Push-to-Card 52

Seon

JULY 10, 2024

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

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Transactions Fraud Prevention Regulatory Compliance Payments 52

PYMNTS

OCTOBER 26, 2016

With massive cyberattacks like the recent Yahoo data breach — which compromised the personal data of an estimated 500 million user accounts — it’s clear that payment data isn’t the only information that needs to be protected. to provide additional layers of security.

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Payment Security Security Identity Theft Compromise 81

PYMNTS

NOVEMBER 6, 2017

Yet those nine numbers have become a standard bearer for identity verification, a gold mine for fraudsters – maybe rendered moot by the huge breaches at Equifax and other companies. After all, your very name, address, telephone number, maiden name and so on are all ticking time bombs, putting you at risk for identity theft.

Security 43

Security Consumer Office of the Comptroller of the Currency Identity Theft 43

PYMNTS

JUNE 12, 2019

There are four keys ways in which the right electronic payments technology solution (the executive pointed to Bottomline’s Paymode-X integrated payables network among them) can help businesses secure their payment processes: They include preventing account takeovers and unauthorized account changes.

Accounts 62

Accounts Email Compromise Same Day ACH Compromise 62

PYMNTS

SEPTEMBER 11, 2019

We’ll see more account takeovers, we will see more theft and certainly more identity theft. Amid the different current biometric iterations used for identifier verification, Pointner said, the strongest candidates are those based on face or fingerprint.

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Authentication Identity Theft Account Takeovers Checks 72

PYMNTS

AUGUST 7, 2019

As Prideaux noted, this isn’t a cut-and-dry question, because authentication and verification is a complex world. There are all kinds of verification use cases, he said, that don’t quite need full AML/KYC compliance, and classification purposes as to whether the consumer is in good standing or not.

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Authentication Consumer Authentication Consumer Ubiquitous 44

FICO

APRIL 8, 2020

The technology available in most smartphones allows quality photographs of documents to be taken to validate identity. Identity Verification. At this stage you need to confirm that the person presenting themselves to you is the same person represented by the identity given. Enrollment.

Accounts 52

Accounts Enrollments Authentication Verification 52

Nanonets

MAY 31, 2023

million individuals in the United States fell victim to identity theft in 2021. Account Takeover: Criminals gain unauthorized access to customer accounts, allowing them to make fraudulent transactions or transfer funds. According to the Federal Trade Commission, USA, over 1.4

Fraud Detection 52

Fraud Detection Payments Audit Fraud Prevention 52

Fraud.net

JUNE 7, 2024

The post Navigating the Risks of Generative AI: A Pragmatic Approach for Banks, Fintechs and Digital Commerce Organizations appeared first on Fraud.net.

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AI Risk FinTech Posting 52

Fraud.net

JUNE 10, 2024

AI is trending across the board, but how is it transforming payments, productivity, and risk management? Learn more in our blog.

Risk Management 52

Risk Management AI Risk Product 52

Fraud.net

MAY 31, 2024

AI is trending across the board, but how is it transforming payments, productivity, and risk management? Learn more in our blog.

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AI Risk Management Payments Risk 52

Fraud.net

APRIL 25, 2024

Get a closer look at the different types of bank fraud affecting the financial sector. Explore proven solutions to address these effectively.

Addressing 52

Addressing Identity Theft Account Takeovers Verification 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.

Fraud Detection 52

Fraud Detection Fraud Prevention Identity Theft Account Takeovers 52

FICO

DECEMBER 13, 2022

While many FIs have worked to streamline digital banking experiences, they have constantly had to add friction back into processes to prevent fraudster tactics, like SIM swaps, account takeover, and impersonation scams. However, this aversion to badly thought-out identity checks extends to use of existing accounts.

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Security Account Takeovers Authentication Payee 52

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

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