PYMNTS

MARCH 25, 2020

The March edition of the Digital Fraud Tracker® explores recent developments, including the use of AI and ML to fight application fraud, the importance of separating good bots from bad bots, and the potential impact of the new coronavirus on the cybersecurity industry. Developments From Around the World of Digital Fraud.

Bots 59

Bots Cybersecurity Phishing Fraud Prevention 59

Fintech News

MARCH 20, 2024

Sumsub, a global verification provider, is addressing the sharp increase in fraud networks in the Asia-Pacific (APAC) region with its enhanced Fraud Prevention Solution. This tool is designed to help businesses tackle fraud rings, account takeovers, chargeback fraud, and bot attacks.

APACS 107

APACS Fraud Prevention Deepfake Account Takeovers 107

Payments Source

AUGUST 14, 2017

Companies involved in content sharing or social media are seeing fraudsters try to create new accounts for their sites with fake credentials through bot attacks.

Fraud Prevention 62

Fraud Prevention Bots Credential Accounts 62

PYMNTS

MARCH 26, 2020

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.

Bots 56

Bots Ransomware Blocks Credential 56

PYMNTS

DECEMBER 16, 2020

Fraud prevention developer Kount , however, is working to thwart these attacks with new bot detection solution that uses a customizable, rules-based detection system to differentiate between bad and good bots.

Bots 124

Bots Federal Trade Commission Monetary Loss AI 124

PYMNTS

JULY 25, 2017

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.

Bots 78

Bots AI Fraud Detection Fraud Prevention 78

Neopay

JANUARY 22, 2025

Despite the rising risk, less than a quarter (22%) of financial institutions have implemented AI-driven fraud prevention measures, highlighting a significant vulnerability.

AI 59

AI Deepfake Phishing Audit 59

PYMNTS

JANUARY 13, 2021

Some of the most common tactics include phishing emails or impersonation scams, with some bad actors harnessing bots to reach thousands of consumers at once with these schemes. Stopping these fraudsters requires partnerships with trusted payments processors and dedicated teams of in-house fraud prevention experts.

Fraud Prevention 75

Fraud Prevention Posting Multifactor Authentication Scams 75

PYMNTS

OCTOBER 29, 2018

It’s about combining insight and connecting the dots” when it comes to fraud, he told Webster. Fraud prevention is getting more sophisticated, and at a fast clip. According to Marques, the goal is to look beyond specific instances of fraud to spot “the bigger picture,” which in turn can lead to better defenses.

Fraud Prevention 79

Fraud Prevention Identity Theft Third-Party Service Provider Account Takeovers 79

PYMNTS

APRIL 9, 2020

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.

Account Takeovers 94

Account Takeovers Fraud Prevention Push-to-Card Accounts 94

The Paypers

NOVEMBER 11, 2020

US-based fraud prevention company Kount has launched Event-Based Bot Detection, the newest solution in Kount’s Identity Trust Platform.

Bots 28

Bots Fraud Prevention 28

The Fintech Times

AUGUST 17, 2024

Empowering businesses NeuroID’s behavioural analytics solutions are available through CrossCore on the Experian Ascend Technology Platform as a key fraud-detection capability. Experian’s identity verification and fraud prevention solutions helped clients avoid an estimated $15billion in fraud losses globally last year.

Risk 59

Risk Fraud Detection Bots Identity Theft 59

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. Can You Spot the Bot?

Security 52

Security Fraud Prevention Bots AML 52

PYMNTS

FEBRUARY 12, 2019

But it’s in service of a larger, very important point: Online fraudsters are much smarter than they were just a decade ago, and slavish adherence to rule-based fraud prevention systems will, essentially, leave a door or two open for those criminals to come through. Okay, that’s hyperbolic. Numbers Game.

Fraud Prevention 56

Fraud Prevention Rules Breach Bots 56

PYMNTS

MAY 28, 2020

“As Kount broadens both its merchant and banking relationships, it is perfectly positioned to access all the dimensions of fraud activity enabling it to further expand its already highly-ranked fraud platform.”. As fraud threats evolve, we will continue to advance our products to protect our customers.”. Kount placed No.

Fraud Detection 52

Fraud Detection Fraud Prevention Account Takeovers Bots 52

PYMNTS

FEBRUARY 26, 2020

Many chains have thus been turning to fraud detection programs driven by artificial intelligence (AI) to make the most of their limited prevention resources, leveraging various techniques to stop bad actors’ advances. AI systems can prevent these attacks and are inexpensive when compared to the cost of human fraud prevention teams.

Credential 56

Credential AI Fraud Detection Account Takeovers 56

PYMNTS

SEPTEMBER 24, 2020

At the same time, online businesses actually invested less in fraud prevention tools as their general budgets tightened due to external pressures. Every recession leads to an increase in fraud ,” he said. And they also know that companies have fewer resources to defend themselves against fraud.”. People are desperate.

APACS 98

APACS Risk Online and Mobile Banking Verification 98

The Paypers

JANUARY 26, 2023

US-based fraud prevention company Arkose Labs has launched an email intelligence solution to stop bots and bad actors from using fake or risky email addresses in online attacks.

Fraud Prevention 36

Fraud Prevention Bots Addressing 36

PYMNTS

JUNE 11, 2020

The company uses over 170 factors to determine if order fraud is taking place, the press release says, and the sophistication behind the methods allow merchants to continue doing business even while the detection process is ongoing. NS8 looks at advertising campaigns and determines which ones are bots unjustly eating up space and money.

Fraud Detection 60

Fraud Detection Fraud Prevention Bots Advisors 60

Fintech News

OCTOBER 28, 2024

Wimika RMS Technologies Ltd (Nigeria) The Wimika team is composed of seasoned professionals with diverse, yet complementary, expertise covering cybersecurity, software engineering, product management, insurance, fintech, digital fraud prevention, risk management, legal and leadership.

FinTech 114

FinTech Financial Literacy Cross-Border Distributed Ledger Technology (DLT) 114

PYMNTS

FEBRUARY 13, 2020

Theoretically – but not actually.

Authentication 98

Authentication Bots Identity Theft Mitigation 98

PYMNTS

SEPTEMBER 21, 2018

By the time a flood of chargebacks shows a retailer that criminals have committed fraud, it’s too late, she said, which puts a premium on enacting defenses as early as possible, and making sure they are flexible enough to respond to the movements of online, globally active digital thieves. Attack can be a simpler proposition than defense.

Account Takeovers 58

Account Takeovers Fraud Prevention Accounts Bots 58

PYMNTS

APRIL 10, 2017

BioCatch’s software is being integrated into Experian’s fraud prevention platform and will analyze how users interact with their devices and websites by tracking a slew of different things such as how fast someone types or moves the mouse around a website.

Bots 41

Bots Credit Cards Fraud Prevention Automation 41

PYMNTS

DECEMBER 20, 2019

Fraud prevention tech has to scale. That’s because fraudsters (especially state-backed ones, but other groups too) are now launching massive bot attacks that are getting almost as sophisticated as the top security software.

AI 55

AI Law Enforcement Fraud Prevention Issuers 55

PYMNTS

JULY 13, 2020

A popular brute force method used to accomplish this is credential cracking , which involves fraudsters using bots to automatically plug potential usernames and passwords into login screens in the hopes of stumbling across the correct credentials.

Credential 58

Credential Bots Authentication Online and Mobile Banking 58

Finovate

AUGUST 14, 2024

Businesses ranging from Capital One and SoFi to DraftKings and the State of California rely on Socure’s technology for accurate identity verification and fraud prevention. “This view arms companies with a proactive, first line of defense to detect sophisticated fraud rings and bot attacks.

Credential 64

Credential FinTech Deepfake Fraud Detection 64

PYMNTS

OCTOBER 1, 2019

In the study, the most common challenge cited by businesses was balancing fraud prevention and customer friction (68 percent), a 65 percent increase from the previous year. According to Kount CEO Brad Wiskirchen, AI and ML can help QSRs and other restaurants become more proactive about fraud rather than reactive. problematic.

Data Breach 57

Data Breach Breach Account Takeovers Fraud Prevention 57

Seon

JANUARY 29, 2024

Account Takeover Fraud Detection While it can be challenging to catch ATO attempts, these attacks can be detected by monitoring for out-of-the-ordinary account behavior. Deploying end-to-end fraud prevention and detection software helps you keep track of user activity and helps you spot suspicious patterns.

Account Takeovers 52

Account Takeovers Accounts Fraud Prevention Fraud Detection 52

PYMNTS

OCTOBER 30, 2019

In this month’s feature story, Garnett explains how to use machine learning tools to detect early signs of fraud, as well as provide customers with verification options and safety tips to keep themselves — and their money — safe. Deep Dive: Increasingly Advanced Bots Face Off Against Increasingly Sophisticated Defenses.

Bots 40

Bots FBI Cross-Border AI 40

PYMNTS

OCTOBER 3, 2016

Due to this, both consumers and businesses have to work off the assumption that online identities are already in the hands of cybercriminals and these identities being channeled through compromised computers and bots.

Cross-Border 76

Cross-Border Authentication Fraud Prevention Security 76

PYMNTS

JUNE 29, 2020

These credential abuse attacks come in a variety of forms, with some hackers choosing to overwhelm API defenses with simultaneous logins from a host of bots and others using more targeted techniques like phishing individual API developers and using their login credentials. There were 85.42 million were aimed at the financial industry.

MFA 96

MFA Risk Security API 96

PYMNTS

SEPTEMBER 3, 2019

The Ever-Shifting Face of Ad Fraud. Ad fraud can wear many masks, but the most common types rely on bots, crawlers or other automated clicking methods. One type of bot-driven click fraud, known as click spamming, simulates an incredibly high number of clicks that appear to be from real devices.

Bots 49

Bots Money Laundering FBI Push-to-Card 49

PYMNTS

APRIL 24, 2018

The highest bidder then uses a bot to run automated scripts that test username and password combinations against the breached site to weed out accounts that no longer work. These data points are known as behavior analytics, and, according to Shem-Tov, they can help spot bot behavior a mile away. Separating the Wheat from the Chaff.

Breach 50

Breach Bots Credential Data Breach 50

PYMNTS

JUNE 26, 2018

Dave Endler, co-founder and president of security and fraud prevention solutions provider SpyCloud , illuminated the trend for the Tracker team. hotel and travel sites) are classified as “impersonators of known browsers,” which is a known fraud conduit, said Kaspersky. Account takeovers are finding favor among fraudsters.

Account Takeovers 46

Account Takeovers Faster Payments Breach Credit Cards 46

PYMNTS

NOVEMBER 26, 2019

Their technology is designed to recognize illicit activity that comes from either human cybercriminals or bots. The company was started in 2010 to identify malicious actors who try to impersonate legitimate bank account holders. Buguroo said its technology can identify new types of malware on a web browser or mobile app.

Fraud Detection 56

Fraud Detection Bots Cybersecurity Credential 56

FICO

AUGUST 3, 2022

For payments, risk, fraud prevention and financial crimes professionals, FICO World 2022 delivered a wealth of information on rapidly emerging trends and solutions. The Rise of the Bots. Criminals are making use of automation to industrialize their fraudulent attacks, including card fraud. A Greatest Hits Compilation.

Financial Crimes 52

Financial Crimes Crime Scams Bots 52

PYMNTS

DECEMBER 26, 2019

billion transactions found that between July and September 2019, about 20 percent of accounts opened were the result of massive bot attacks , not humans. The robot army marched on eCommerce, financial services, gaming and travel sites mostly — a 70 percent rise in bot-driven registrations in Q3 2019 alone. One analysis of more than 1.3

Fraud Detection 52

Fraud Detection Bots Law Enforcement AI 52