Remove Bots Remove Cybersecurity Remove Fraud Prevention
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Banking Bots: The Good, The Bad And The Ugly

PYMNTS

Artificial intelligence (AI) and mac hine learning (ML) applications often form the core of these cybersecurity systems and are being deployed across banks, retailers, telecommunications companies and many other businesses. Developments From Around the World of Digital Fraud. Axos Bank on How to Separate the Good Bots From the Bad.

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Mangopay Launches New AI-driven Fraud Prevention Solution for Platforms

Fintech Finance

Mangopay , a modular and flexible payment infrastructure provider for platforms, today announces the launch of its new Fraud Prevention solution. Platforms can connect to the solution through the Mangopay product ecosystem, meaning they can easily protect themselves against fraud without any additional integration.

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Kount Debuts New Bot Detection Solution

PYMNTS

Kount , which works in fraud prevention and identity trust, has rolled out its new Event-Based Bot Detection solution, which will provide a more comprehensive level of security for eCommerce, according to a press release emailed to PYMNTS. And today, we’re taking the next step with Event-Based Bot Detection.

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The growing threat of AI-enabled fraud

Neopay

Recent research by Signicat reveals that AI-driven fraud now constitutes 42.5% of all detected fraud attempts in the financial and payments sector, marking a critical turning point for cybersecurity. Alarmingly, an estimated 29% of these attempts are considered successful.

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How Axos Bank Uses Multilayered Filtering To Keep Bad Bots Out And Good Bots In

PYMNTS

Many cybercriminals rely on bots to conduct their schemes, leveraging automated data skimming programs that can overwhelm banks’ defenses through sheer volume. We like to think of [bots] like bacteria,” Raghu Valipireddy, senior vice president and chief information security officer at Axos Bank, told PYMNTS in a recent interview.

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AI/BOTS: Machine Learning Tips Online Fraud Scales

PYMNTS

The increased use of machine learning was found to be one of the main contributing factors in helping to reduce fraud across most industries, except for department stores and jewelry stores.

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Shutting The Front Door On Online Fraudsters

PYMNTS

And that has made it more critical than ever for firms of all types and descriptions to think hard about taking a more balanced approach to fraud prevention — but think more holistically about the field they are protecting. Their systems, he noted, are keyed to spot the warning signs around those fraudulent purchase attempts.