Stax

AUGUST 22, 2024

Identity theft, data breaches, and chargeback fraud are some of the most common types of risks. This is why you need robust fraud detection mechanisms and ensure that they are up-to-date. It can also help to teach them about best practices they can follow to prevent fraudulent transactions.

Risk Management 88

Risk Management Risk Regulatory Compliance Payment APIs and Integration 88

FICO

JUNE 20, 2018

In a recent blog post , I discussed how FICO is fighting application fraud by leveraging artificial intelligence (AI) and machine learning in fraud detection, including an overview of supervised, unsupervised, and adaptive analytics techniques and the need to balance transparency (explainable AI) with predictiveness.

Fraud Detection 55

Fraud Detection Identity Theft AI Fraud Prevention 55

Segpay

APRIL 16, 2024

In this case, both the cardholder and the merchant are victims of Fraud. Merchants should implement robust fraud detection tools, such as address verification systems (AVS) and card verification value (CVV) checks. Each card brand applies different chargeback thresholds. Chargeback ratios also differ per industry.

Disputes 52

Disputes Address Verification System (AVS) Fraud Prevention Fraud Detection 52

Fintech News

APRIL 7, 2024

Their comprehensive discussion sheds light on the significance of advanced AI and fraud detection technologies, and the importance of collaborative efforts to mitigate these risks. “Even people who are trained on deep fakes have a real difficulty determining what’s a real image from an image created using a deep fake.”

Deepfake 132

Deepfake Scams Fraud Detection Verification 132

Seon

SEPTEMBER 11, 2023

We know neobank risk teams must stay aware of evolving threats and take an active approach to closing those routes to fraud. This is why, in this article, we examine the five most common types of fraud in neobanking and how to protect against them – no matter how mature your approach to fraud prevention is.

Identity Theft 52

Identity Theft Money Laundering Account Takeovers Fraud Prevention 52

Finovate

APRIL 1, 2024

“In most cases, the quality and quantity of data used for training, testing, and refining an AI model, including those used for cybersecurity and fraud detection, directly impact its eventual precision and efficiency.” These observations are among ten takeaways from the report shared last week.

Treasury 64

Treasury Cybersecurity AI Risk 64

Seon

APRIL 23, 2024

Advanced technologies, including artificial intelligence (AI), blackbox and whitebox machine learning (ML), digital footprinting and device intelligence, collectively transform the real-time fraud detection and prevention paradigm. Engage senior leadership in the governance and oversight of fraud risk management efforts.

Risk Management 40

Risk Management Risk Technology Fraud Detection 40

Fintech Finance

JUNE 20, 2024

It will focus on several key areas: Advanced Fraud Detection and Prevention: Developing and implementing cutting-edge technologies to detect and prevent financial fraud. The center will provide a platform for the exchange of ideas and best practices between the public and private sectors.

Financial Crimes 97

Financial Crimes Crime FBI Law Enforcement 97

Core

FEBRUARY 6, 2024

The digitization of public financial systems introduces new challenges for online payment fraud prevention. Because public financial systems involve essential funds and taxpayer dollars, dedicated government fraud detection systems are paramount to combat fraud—and ensure government accountability.

Best Practices 52

Best Practices Governance Government Fraud Prevention 52

Nanonets

FEBRUARY 21, 2024

Businesses are encouraged to familiarize themselves with the procedural steps of cash reconciliation, adopt best practices to enhance accuracy, and consider the benefits of automating the process to mitigate risks associated with manual reconciliation. Looking out for a Reconciliation Software?

Reconciliation 52

Reconciliation Best Practices Automation Point-of-Sale (POS) 52

Stax

JANUARY 8, 2024

Common risk management strategies for PayFacs include proper merchant vetting and onboarding, transaction monitoring and fraud prevention, chargeback mitigation, KYC/AML compliance, and data breach prevention. Fraud detection and prevention. Early detection can help in the rapid mitigation of fraud.

Risk Management 88

Risk Management Risk Money Laundering Mitigation 88

Fraud.net

NOVEMBER 14, 2023

The risk of card-not-present fraud increases with the evolution of digital payments. Protect your business with the latest best practices.

Best Practices 52

Best Practices Digital Payments Risk Payments 52

Stax

AUGUST 29, 2024

The best PSP is the one that provides the right package of payment options for your customer base, adequate fraud detection & prevention tools, scalability, robust customer care services, and charges affordable processing fees.

Payment Service Provider (PSP) 88

Payment Service Provider (PSP) Service Provider Payment Gateways Online and Mobile Banking 88

PYMNTS

JUNE 20, 2019

According to the latest Payments 2022 Playbook: Building A High-Performing Payments Team For Fraud Detection , a PYMNTS study in collaboration with Stripe, digital platforms continue to express discontent with their current fraud strategies, and false positives are compromising their brands, customer relationships, and bottom lines.

B2B 73

B2B Fraud Detection Third Party Vendors Payments 73

Fintech Finance

APRIL 10, 2024

Identity fraud can be used to make a scam seem more realistic by hijacking the established identity of a real person. To turn the tide, more than half of respondents (57%) said that the next game-changer in the fraud prevention space will be AI.

AI 52

AI Romance Scams Fraud Prevention Scams 52

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?

FedNow 40

FedNow Federal Reserve ISO 20022 Fraud Detection 40

PYMNTS

MAY 25, 2020

Many are using digital banking services for the first time, though, meaning they may be unaware of personal security best practices. Lori Hodges, vice president of risk in North America for Visa, has said even fraud prevention professionals have let their guards down. Phishing attacks are some of the most common scams.

Financial Crimes 67

Financial Crimes Crime Scams Fraud Prevention 67

Nanonets

DECEMBER 25, 2023

Real-time Fraud Detection The healthcare industry is, unfortunately, susceptible to fraudulent activities, and AI provides a robust defense mechanism. Predictive Analytics for Resource Optimization AI's predictive analytics capabilities extend beyond fraud detection.

AI 59

AI Process Payer Fraud Detection 59

FICO

APRIL 26, 2023

The challenge for banks is balancing the ease and convenience of RTP with fraud prevention for authorized push payment fraud (APP fraud) – without impacting customer experience. Better detection Overwhelmingly, customers want banks to improve their fraud detection capabilities to stop scams before they happen.

Scams 52

Scams RTP Push-to-Card Fraud Detection 52

PYMNTS

NOVEMBER 26, 2019

FIs must ensure that their analytics and business intelligence efforts are constantly recalibrated, with an eye on fraud detection, user friction and false positives. Fraud is not static, said Srinivasan.

Real Time Payments 61

Real Time Payments Authentication Fraud Prevention Credential 61

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.

Account Takeovers 41

Account Takeovers Fraud Detection Fraud Prevention Best Practices 41

FICO

JULY 26, 2018

Derek has worked in machine learning and advanced analytics for 20+ years, and he is a specialist in the development and application of predictive analytics for application fraud detection. What do you see as the biggest challenges for machine learning to fight application fraud.

AI 45

AI Fraud Detection Rules Identity Theft 45

PYMNTS

NOVEMBER 28, 2017

The Anti-Fraud Collaboration recently published a report outlining best practices for corporations to combat financial reporting fraud after holding roundtable discussions with its members to explore how businesses can protect themselves from this threat. Fear of Retaliation.

Fraud Prevention 40

Fraud Prevention AFP Procedures Mitigation 40

Nanonets

SEPTEMBER 21, 2023

By establishing strong internal controls and segregation of duties, businesses can reduce the risk of  fraud  and unauthorized activities. Additionally, educating employees about fraud prevention and creating a culture of ethics and compliance can further mitigate the risk of fraudulent activities.

Accounts 52

Accounts Audit Payroll Compliance 52

PYMNTS

APRIL 22, 2016

The urgency of robust and multilayered fraud detection systems becomes especially clear against a backdrop where card-not-present fraud is likely to grow by leaps and bounds in the wake of the EMV liability shift from last year. And since the U.S.

Online and Mobile Banking 40

Online and Mobile Banking EMV Processors Fraud Detection 40

EBizCharge

JULY 16, 2024

Under NACHA’s operational guidelines, entities are expected to establish risk management practices proportional to the extent and nature of their ACH activities. As transaction volumes or the complexity of the ACH services increase, institutions or service providers must enhance their fraud detection and prevention mechanisms.

NACHA 52

NACHA Nacha Rules ACH Network ACH 52

Seon

MAY 16, 2024

Understanding the Scope of iGaming Fraud Fraud in iGaming deeply impacts players, operators and the industry’s integrity and compromises the digital gaming space’s security and trust. Types of iGaming Fraud Multi-Accounting This is a practice where an individual creates multiple accounts on a single platform.

Fraud Prevention 52

Fraud Prevention Accounts Verification Legal 52

Nanonets

MAY 31, 2023

Enhance Employee Awareness and Training: Provide comprehensive training to employees on fraud prevention, detection, and reporting. Promote a culture of ethics and integrity, emphasizing the consequences of fraud. Educate employees on common fraud schemes and red flags to watch out for in day-to-day operations.

Fraud Detection 52

Fraud Detection Payments Audit Fraud Prevention 52

Clearly Payments

JANUARY 8, 2024

Additionally, leveraging advanced fraud detection tools and machine learning algorithms in real-time helps analyze transaction patterns and differentiate between legitimate and potentially fraudulent activities. One key practice involves prioritizing customer satisfaction through the delivery of exceptional customer service.

Risk Management 69

Risk Management Risk PCI DSS Process 69

EBizCharge

MAY 20, 2024

The EBizCharge for NetSuite payment integration delivers real-time payment processing, automatic reconciliation, customizable reporting, recurring billing capabilities, and fraud prevention, enabling businesses to manage their finances more efficiently and improve the overall customer experience. Is NetSuite payment processing secure?

Process 52

Process PCI DSS Processors Payment APIs and Integration 52

Nanonets

SEPTEMBER 21, 2023

Proactive vendor communication, prompt invoice capturing, and batch invoice  payment processing  are best practices for efficient accounts payable management. With the rise of digital transactions and remote work, the risk of accounts payable fraud has increased significantly.

Accounts 40

Accounts Best Practices Automation Reconciliation 40

FICO

NOVEMBER 8, 2022

Organisations can tackle this risk much earlier on, by bringing together all the data about the customer and their application in a format that can be used for fraud detection. Consumers have high expectations of their providers and the fraud protection they provide. In Sweden, fewer consumers have this view (17%). Conclusion.

Scams 52

Scams Authentication Fraud Prevention Push-to-Card 52

FICO

NOVEMBER 1, 2022

The results show that Canadians want slick onboarding processes, where fraud controls work but don’t delay account opening. Processes that Balance Customer Experience and Fraud Protection. Fraud teams fight a constant battle to balance fraud prevention with customer experience.

Checks 52

Checks Risk Identity Theft Accounts 52

FICO

MARCH 22, 2022

Account Takeover Fraud – No Single Fix. The complexity of account takeover fraud means that financial institutions have to take a layered approach to prevention and detection. When and how fraud prevention solutions are deployed must be balanced with other factors such as customer experience and operational costs.

Account Takeovers 52

Account Takeovers Accounts Authentication Data Breach 52

Stax

JANUARY 10, 2024

A business with a good credit score and compliance with best practices for fraud prevention and monitoring will be considered more reliable and therefore may be eligible for better rates. On the flip side, frequent incidences of fraud or unstable processing volumes can result in higher fees.

Credit Cards 88

Credit Cards Processors Debit Card Processing Costs 88

Nanonets

DECEMBER 11, 2023

Using AI, every transaction is kept secure through duplication detection, fraud prevention, and payment tracking features. Key Features Embedded fraud detection capabilities, advanced vendor management, and compliance features are a few user favorites.

Process 52

Process Payment APIs and Integration Automation Multi-Currency 52

Nanonets

JANUARY 17, 2024

Let's see how InnovateX, or any other company adopting expense management best practices and solutions is able to effectively address traditional expense management issues: Real-Time Data is King : In the fast-paced business world, making decisions based on last quarter’s data is like driving using your rearview mirror.

Payment APIs and Integration 52

Payment APIs and Integration Compliance Automation Audit 52