PYMNTS

OCTOBER 16, 2020

In this month’s Preventing Financial Crime Playbook, Armistead explains how artificial intelligence (AI) can offer a bird's eye view of suspicious transactions and stop fraudsters from exploiting legitimate customer vulnerabilities. Developments Around The Financial Crimes Space. trillion a year. Banks in the U.K.

Zelle 89

Zelle P2P Scams Financial Crimes 89

PYMNTS

OCTOBER 19, 2020

It is no wonder that payment apps like CashApp , Venmo and Zelle are used by more than 70 percent of Americans. Venmo users alone lost more than $40 million in 2018. Gone are the days of diners handing waiters a stack of credit cards to split a bill, and instead seamless money transfers occur in a matter of seconds.

Zelle 68

Zelle Scams AI CashApp 68

FICO

APRIL 8, 2022

Looking at combinations of favorites [transactions types, times and places], and combining them with other features of abnormality associated with transaction amounts (frequencies, time of day, and many other characteristics), allows FICO’s models to differentiate customers into classes of third-party fraud, APP scam and non-financial crime.

Scams 52

Scams TPS Non-Bank Payee 52

FICO

NOVEMBER 7, 2022

On one side, there are regulators concerned about the perceived growth of scam losses through popular P2P payments apps like Zelle, Venmo and CashApp. For more of my latest thoughts on fraud, financial crime and FICO’s entire family of software solutions, follow me on Twitter @FraudBird.

Scams 52

Scams Authorization P2P Consumer Financial Protection Bureau (CFPB) 52