PYMNTS

SEPTEMBER 24, 2019

“Some criminals are also monetizing stolen credit card information through fraudulent merchant accounts to charge victims’ cards, or are simply creating fraudulent user accounts on fintech platforms as part of identity theft or synthetic identity fraud.”.

Fincen 71

Fincen Account Takeovers Identity Theft Financial Crimes 71

Fintech News

MAY 22, 2024

of respondents lost money to scams or identity theft in the past year, resulting in an estimated US$1 trillion in financial losses. In May, Fintech Global released its inaugural FinCrimeTech50 list, recognizing the world’s leading technology companies fighting money laundering, fraud and financial crime.

Financial Crimes 87

Financial Crimes Crime APACS Risk Assessment 87

The Fintech Times

JULY 10, 2024

Existing solutions traditionally either require a new identity verification before a Qualified Electronic Signature (QES) can be issued or the identification needs to be handled by the financial institution. “InstantSign has been proven to reduce drop-offs and accelerate contract completion.

Security 64

Security Verification Identity Theft AML 64

PYMNTS

NOVEMBER 13, 2020

Following a cyberattack that exposed patients’ mental health records last month, Finland is moving ahead with legislation that would let people change their personal identity codes in certain instances, according to an Associated Press (AP) report. The current law makes it difficult to change a personal identity code.

Breach 69

Breach Laws Identity Theft Data Breach 69

Finovate

OCTOBER 24, 2024

Effectiv, which demoed at FinovateFall 2023, was founded in 2021 to provide an open platform that integrates a wide range of risk solutions– including identity and payment fraud controls, underwriting, Know Your Business (KYB) and anti-money laundering (AML) tools– to facilitate decisions in real-time.

Risk 64

Risk Acquirers Fraud Prevention Identity Theft 64

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. Identity theft: Scammers can commit identity theft by using methods like phishing and vishing to impersonate genuine users.

Identity Theft 52

Identity Theft Money Laundering Account Takeovers Fraud Prevention 52

The Payments Association

MARCH 14, 2025

3) Regulatory compliance Certain industries, such as cryptocurrency exchanges, gambling, and financial services, must comply with stringent know-your-customer (KYC) and anti-money laundering (AML) regulations. These rules help prevent fraud, identity theft, and illicit transactions.

Risk 88

Risk Disputes Processors Fraud Detection 88

FICO

JANUARY 13, 2020

Congress takes the lead in promoting AML/CFT reform. The laws and rules governing anti-money laundering and combating the financing of terrorism compliance have not been substantively updated since the Bank Secrecy Act was adopted in 1970.

AML 52

AML Authentication Finance OCC 52

The Fintech Times

OCTOBER 5, 2024

In 2021, the FCA investigated Starling and identified serious concerns with its anti-money laundering and sanctions framework. A fine alone won’t ensure compliance; the bank must demonstrate an internal commitment to strengthening compliance, oversight, and improving AML systems. million in 2023.

Financial Crimes 83

Financial Crimes Crime Compliance Money Laundering 83

Fintech News

FEBRUARY 27, 2024

In pursuit of clearer regulatory guidelines, Anti-Money Laundering (AML) registration requirements were enforced from March 2023. Moreover, the Directorate of Enforcement in India confiscated over 1,144 crore Indian Rupees (approximately US$130 million) linked to crypto-related money laundering offences.

APACS 120

APACS Regulations Stablecoins Cryptocurrency 120

The Fintech Times

MARCH 6, 2024

The end-to-end fraud prevention and AML platform, SEON, has published its latest findings in its Fraud Trends 2024 guide , revealing businesses’ challenges for the year ahead. Seventy-three per cent of respondents expect an uptick in these types of fraud: phishing, synthetic fraud, identity theft, account takeovers (ATO) and money-laundering.

AI 59

AI Fraud Prevention Identity Theft Account Takeovers 59

Finovate

APRIL 11, 2024

Additionally, the combination of Mitek’s check image analysis and DataVisor’s analysis of check and customer lifecycle data will enable users to detect a wide variety of check fraud tactics including check kiting, remote deposit capture fraud, check washing, counterfeit checks, and identity theft.

Checks 59

Checks Remote Deposit Capture Counterfeit Check Identity Theft 59

The Payments Association

OCTOBER 4, 2024

Cybercriminals are constantly innovating, targeting vulnerabilities in payment systems to carry out unauthorised transactions, identity theft, and data breaches. Cross-border payments also face heightened scrutiny regarding anti-money laundering (AML) and combating the financing of terrorism (CFT) regulations.

Cross-Border Payments 88

Cross-Border Payments Online and Mobile Banking Cross-Border Alternative Payment Methods 88

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.

Risk Management 52

Risk Management Mitigation Risk Identity Theft 52

Stax

AUGUST 22, 2024

Fraudulent transactions Malicious parties are always on the lookout to exploit vulnerabilities online to steal information and money. Identity theft, data breaches, and chargeback fraud are some of the most common types of risks. Payfacs need to have regular AML screenings and strictly implement KYC procedures.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

PYMNTS

MAY 22, 2018

According to Bloomberg , Megan Butler, director of supervision at the Financial Conduct Authority (FCA), said that banks have been wary of rolling out the latest technology to fight money laundering and fraud because they are afraid they will be punished by regulators if the new systems fail to identify any illegal activity.

Crime 40

Crime Identity Theft Money Laundering Financial Crimes 40

PYMNTS

JUNE 13, 2019

AI isn’t just used for fraud detection in the financial industry – it can also help with regulation compliance and adherence to anti-money laundering (AML) standards. Joseph Sieczkowski, head of technology architecture and data at BNY Mellon, explained how it isn’t enough to use AI reactively.

AI 44

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. It focuses on monitoring transactions to identify and detect fraudulent activities related to money movement. Fraud transaction monitoring’s scope is narrow.

Transactions 52

Transactions Fraud Prevention Regulatory Compliance Payments 52

PYMNTS

JULY 31, 2019

consumers are afraid hackers might access their personal, credit card or financial information, and that 67 percent were afraid of identity theft. These figures considerably outweighed those of non-digital crimes like burglary and car theft, which came in at 40 percent and 37 percent, respectively. .

Credit Union 49

Credit Union AI Identity Theft Money Laundering 49

Segpay

DECEMBER 14, 2023

Users can make payments without revealing personal information, reducing identity theft risk, and protecting their privacy. Accepting cryptocurrency with Segpay is secure and is Know Your Customer (KYC) and Anti Money Laundering (AML) compliant. Segpay accepts crypto wallets.

Cryptocurrency 52

Cryptocurrency Privacy Bitcoin Blockchain 52

PYMNTS

MARCH 29, 2018

Traditional KYC and anti-money laundering (AML) protocols typically account for known risks, but they might not offer a complete picture of whether a specific customer or company is trustworthy. Rethinking Risk-Based Systems.

Authentication 43

Authentication Risk Compliance Database 43

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

Fintech News

JANUARY 27, 2025

eKYC or electronic know-your-customer refers to the use of digital technologies to verify the identity of a customer remotely. This process serves the same purpose as a traditional KYC protocol: to prevent fraud and identity theft while ensuring compliance with regulatory requirements.

Money Laundering 112

Money Laundering Online and Mobile Banking AML Authentication 112

Fintech News

OCTOBER 28, 2024

Frederic Ho, Jumio VP of APAC said his eKYC firm addresses the vulnerabilities of database and biometric identity verification systems to deepfake and identity theft, by implementing advanced liveness detection to counter sophisticated fraud tactics like face morphing, face swapping, and camera injection in eKYC processes.

Verification 116

Verification Deepfake AI Identity Theft 116

Segpay

DECEMBER 19, 2024

With growing concerns around data breaches, identity theft, and unauthorized access, organizations need to ensure that only authenticated users can access their systems and sensitive information. Benefits of Adopting IDaaS Solutions Enhanced Security One of the primary benefits of IDaaS is the enhanced security it provides.

Verification 104

Verification Authentication MFA Compliance 104