The Fintech Times

FEBRUARY 22, 2024

“As real-time connectivity increases transaction volumes, this provides more avenues for fraudsters, and traditional reactive approaches to fraud prevention are no longer sufficient. Instead, banks and fintechs must adopt proactive and pre-emptive measures. “The great thing about AI is that it never gets bored. .

Cross-Border Payments 136

Cross-Border Payments Cross-Border AI Payment Security 136

The Payments Association

OCTOBER 23, 2024

By leveraging advanced screening tools and AI-driven insights, businesses can significantly reduce identity verification costs while minimizing customer friction—resulting in lower acquisition costs and higher satisfaction for legitimate users.

Fraud Prevention 88

Fraud Prevention Fraud Detection Best Practices AML 88

PYMNTS

DECEMBER 18, 2018

Now comes a comic book contribution to one of the most vexing and vital issues of modern payments and commerce — fraud prevention and ID compliance. Trulioo , which sells identity verification services, said on Tuesday (Dec. Compliance is a complex topic,” said Stephen Ufford, CEO and founder of Trulioo.

Compliance 61

Compliance AML Money Laundering Office of the Comptroller of the Currency 61

PYMNTS

JANUARY 27, 2020

Payment service providers (PSPs) must carefully attend to their know your customer (KYC) and know your customer’s customer (KYCC) checks, anti-money laundering (AML) strategies and other fraud prevention approaches. Identity Verification and Confirmation .

AML 62

AML Service Provider Real Time Payments Money Laundering 62

PYMNTS

SEPTEMBER 24, 2020

In a Masterclass interview with PYMNTS, Tom Donlea , vice president and general manager, APAC at global identity verification provider Ekata , said Asia offers greenfield opportunities — and some areas of risk — for merchants looking to offer digital wallets. Every recession leads to an increase in fraud ,” he said.

APACS 98

APACS Risk Online and Mobile Banking Verification 98

CB Insights

APRIL 26, 2022

Clients can download the full Fraud Prevention & Compliance for Payments Leaders report at the top left sidebar. The post Why payments leaders are prioritizing identity verification, KYC, & AML appeared first on CB Insights Research. Want the full expert post? Become a CB Insights customer.

AML 36

AML Verification Fraud Prevention Financial Crimes 36

Finovate

OCTOBER 24, 2024

Socure has acquired risk decisioning company Effectiv for $136 million Socure will integrate Effectiv’s AI-powered orchestration platform into its digital identity verification and fraud solutions. Digital identity verification company Socure has acquired risk decisioning company Effectiv in a $136 million deal.

Risk 64

Risk Acquirers Fraud Prevention Identity Theft 64

PYMNTS

DECEMBER 14, 2016

Socure, a digital identity verification technology company, announced Tuesday (Dec. Socure said the funds will enable the company to more quickly innovate its digital identity verification platform. In a press release, Socure said it will use the capital to scale operations, accommodating the 300 percent growth it has seen in 2016.

Verification 69

Verification AML Money Laundering Fraud Prevention 69

PYMNTS

APRIL 3, 2019

Cognito CEO Alain Meier and his colleagues at the identify verification service have a peculiar way of freaking out payment and commerce operators. In a new PYMNTS interview, Karen Webster and Meier talked about the power of the phone number and the role it can play as companies and consumers put more focus on ID verification.

Verification 59

Verification Money Laundering Authentication API 59

PYMNTS

DECEMBER 29, 2020

One recent example of a response to the proliferation was the inclusion of a long-fought anti-money laundering (AML) provision within the recently passed defense spending bill in the U.S. It’s great to see the prioritization on innovation with this bill,” Wingert said, calling the AML regulatory changes important.

AML 108

AML Money Laundering Compliance Law Enforcement 108

Fintech News

MAY 22, 2024

In May, Fintech Global released its inaugural FinCrimeTech50 list, recognizing the world’s leading technology companies fighting money laundering, fraud and financial crime. The list features the 50 most innovative tech companies offering solutions in financial crime and fraud prevention in the world.

Financial Crimes 85

Financial Crimes Crime APACS Risk Assessment 85

Fintech News

SEPTEMBER 9, 2024

Most agree that digital identity is the first and most crucial step in fraud prevention and banks must make the management of these IDs a priority by putting in place more robust authentication measures, and of course, monitoring them well.

Deepfake 115

Deepfake PCI DSS Verification Financial Inclusion 115

PYMNTS

APRIL 25, 2019

The interview comes amid heightened attention to synthetic and other growing forms of digitally-based fraud. Stealing IDs from the deceased is not the first thing people think about when preparing a [ fraud prevention ] strategy,” Cohen told Webster. But this type of fraud is not something to ignore. Fraud Prevention.

Fraud Prevention 90

Fraud Prevention Money Laundering Accounts Social Security 90

PYMNTS

JANUARY 3, 2019

Trulioo , the global identity verification company, has announced that it now offers verification services to customers in the Czech Republic and Slovakia through its GlobalGateway platform. ” With money laundering on the rise, both the Czech Republic and Slovakia are taking steps to prevent it and other types of fraud.

Verification 51

Verification Money Laundering AML Economy 51

PYMNTS

JULY 10, 2020

Open banking comes in several flavors, yet its rise requires robust Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures, Zac Cohen , chief operating officer at identity verification firm Trulioo told Karen Webster in a recent interview. Webster noted that KYC and AML procedures aren’t governed by global standards.

AML 108

AML Privacy Procedures Money Laundering 108

The Paypers

MAY 20, 2021

Acuant , an identity platform for fraud prevention and AML compliance, and Airside , a digital identity management provider, has partnered to provide mobile identity verification.

Verification 34

Verification Fraud Prevention AML Compliance 34

Clearly Payments

NOVEMBER 13, 2024

Card Verification and Authentication : BINs support the verification process by providing immediate access to the issuing institution’s information. Verification and Approval : The issuing bank reviews the transaction, confirms the cardholder’s account details, and assesses if there are sufficient funds or available credit.

Process 80

Process Processors Payments Compliance 80

The Paypers

JULY 13, 2022

UK-based identity verification, fraud prevention, and KYC/AML compliance provider Sumsub has updated its offering launching it on Salesforce AppExchange.

Verification 31

Verification Fraud Prevention AML Compliance 31

PYMNTS

JUNE 12, 2018

Trulioo , the global identity and business verification provider announced Tuesday (June 12) that it has partnered with Acuant , a global provider of data capture and identity authentication solutions, to enhance GlobalGateway, its online identity verification marketplace.

Verification 46

Verification Online and Mobile Banking Authentication Money Laundering 46

Finovate

MARCH 25, 2024

Digital identity solutions provider Signicat has acquired fraud prevention firm SmartWorks. The Norway-based company has acquired fraud prevention innovator SmartWorks. Headquartered in Iceland, SmartWorks is the largest provider of e-signatures and anti-fraud solutions in the country.

Acquirers 52

Acquirers Fraud Prevention Cross-Border Verification 52

The Paypers

AUGUST 12, 2021

Acuant has added video KYC capabilities including face biometrics to its Trusted Identity Platform for fraud prevention and compliance with AML requirements.

Fraud Prevention 36

Fraud Prevention Verification AML Compliance 36

Finovate

NOVEMBER 27, 2024

Digital identity and fraud prevention solutions provider Signicat has forged a strategic partnership with APAC-region data specialist AsiaVerify. The strategic partnership will help businesses looking to expand from Europe to Asia, and vice versa, meet local regulatory compliance requirements with regards to KYC, KYB, and UBO.

Compliance 64

Compliance APACS Regulatory Compliance Fraud Prevention 64

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.

Security 52

Security Fraud Prevention AML Bots 52

The Fintech Times

JUNE 30, 2024

The solution helps banks swiftly identify and prevent money mule activities, addressing global regulatory demands and significant laundering operations. Cifas , the not-for-profit UK fraud prevention service, estimates that 37,000 British bank accounts exhibited behaviour associated with muling in 2023.

Financial Crimes 75

Financial Crimes Law Enforcement SWIFT Blocks 75

PYMNTS

JANUARY 29, 2019

Those were the main topics in a new PYMNTS interview, featuring Karen Webster and Zac Cohen, general manager at Trulioo , a global identity verification service. It all comes down to security, authentication and fraud prevention. but help with other tasks that involve online retail and transactions.

Wires 67

Wires Wire Fraud Prevention Legal 67

The Paypers

MAY 15, 2017

(The Paypers) Trulioo and Mitek have joined forces to offer a global identity verification solution for fraud prevention and AML/KYC compliance.

Verification 28

Verification Fraud Prevention AML Compliance 28

Finovate

APRIL 11, 2024

Fraud and risk platform DataVisor announced a partnership with identity verification company Mitek this week. DataVisor will integrate Mitek’s Check Fraud Defender solution into its platform to offer FIs real-time check fraud decision orchestration. Today, 99% of U.S.

Checks 59

Checks Remote Deposit Capture Counterfeit Check Identity Theft 59

Seon

SEPTEMBER 20, 2023

The prospective customer is then eligible for the organization’s KYC verification. KYC onboarding is crucial: It is required by AML-obligated and/or fraud prevention-focused industries. What Is the Relationship Between KYC Onboarding and AML? KYC onboarding is sometimes even a prerequisite for AML regulations.

Process 52

Process Due Diligence AML Verification 52

The Paypers

DECEMBER 14, 2021

UK-based AML and online fraud prevention startup Sumsub has launched a Self-Start Service and offers new identity verification plans for small businesses.

Fraud Prevention 36

Fraud Prevention AML Verification Small Business 36

The Fintech Times

JUNE 20, 2024

Sumsub , the full-cycle verification platform, is partnering with Finastra , the global financial software applications and marketplaces provider, to support financial institutions worldwide with their compliance processes. Last year, the APAC region saw a spike in reported fraud crimes.

Compliance 59

Compliance Process APACS Money Laundering 59

Fintech Review

MARCH 20, 2024

Financial services providers are increasingly open to using AI within credit risk management and AML, and AI is already widely used in fraud prevention systems. Natwest has launched APIs for sharing customer data with third parties, allowing for data provision, verification, and updates.

AI 104

AI API Risk Credit Risk 104

Neopay

NOVEMBER 26, 2024

Key concerns include sanction screening, anti-money laundering (AML) requirements, fraud detection, and the Verification of Payee protocols. In the realm of fraud prevention and sanction screening, banks are adopting a multi-layered approach. Compliance hurdles are significant.

ISO 20022 52

ISO 20022 Instant Payments Regulations ISOs 52

Seon

JULY 10, 2024

Fraud transaction monitoring’s scope is narrow. These types of monitoring contribute to a robust fraud prevention strategy, with fraud monitoring providing a more comprehensive defense mechanism across the entire customer journey and fraud transaction monitoring offering targeted protection for transactions.

Transactions 52

Transactions Fraud Prevention Regulatory Compliance Payments 52

The Fintech Times

DECEMBER 11, 2023

Today, we bring you insights from industry leaders regarding the changing dynamics of cybersecurity threats and trends in 2024, including AI’s impact, behavioural biometrics, fraud prevention, masking and enhanced security for financial services. Penalties for this include huge fines and potentially even criminal proceedings.

Cybersecurity 107

Cybersecurity Ransomware Authentication AI 107

FICO

MARCH 6, 2020

By combining advanced AML analytics in scoring processes and robotics in alert and case handling you tremendously improve efficiency and effectiveness in compliance. Our analytics-driven AML solution monitors transactions for unusual behavior and offers advanced link analysis, pattern recognition, profiling based detection. In the U.S.

Financial Crimes 81

Financial Crimes Crime Compliance Technology 81

PYMNTS

JUNE 23, 2016

Santander InnoVentures , a FinTech venture capital fund, announced on Wednesday (June 22) that it is making a strategic investment in identity verification platform Socure. The technology is typically used by financial institutions to help prevent fraud when customers open a new bank account or when issued credit or debit cards.

Security 42

Security Verification Money Laundering Fraud Prevention 42

Finovate

AUGUST 16, 2024

The financial institution will leverage Fenergo’s transaction monitoring solution to enhance and streamline its anti-money laundering (AML) compliance operations. After making more than 60 enhancements to its mobile banking app, including biometrics and fraud monitoring, the bank saw an 18% year-on-year increase in active digital users.

AML 64

AML Disaster Recovery Payments Non-Bank 64