Finovate

OCTOBER 16, 2024

Banks can add a layer of protection by deploying real-time fraud monitoring systems to detect suspicious activities using AI and machine learning. Also, firms can implement advanced consumer authentication methods and mandate ongoing fraud prevention training for staff to further mitigate risks.

FedNow 58

FedNow Instant Payments Disputes Federal Reserve 58

PYMNTS

JUNE 2, 2020

As Kount Executive Gary Sevounts noted in a recent conversation, this combination has left payments players worldwide trapped between two sources of pressure: They’re responding to a global pandemic and the attendant increase in fraud, while at the same time preparing for a major regulatory change.

Compliance 55

Compliance Authentication Push-to-Card Fraud Prevention 55

FICO

NOVEMBER 30, 2022

But there are other significant actions that, when implemented as a part of a layered approach to fraud prevention, can make a big difference in protecting consumers and lowering false positives. Discover how Customer Communications Services for Fraud can alert customers about potential scams in real-time. Debbie Cobb.

Scams 52

Scams Push-to-Card Fraud Prevention CashApp 52

PYMNTS

NOVEMBER 16, 2016

The eCommerce fraud protection company, headquartered in Cleveland, Ohio, announced last Friday (Nov. 11) that it will be making its eCommerce authentication (CCA) platform available to thousands of small, emerging businesses; independent retailers; and entrepreneurs looking to get a piece of that $117 billion holiday pie.

Phishing 64

Phishing Authentication Scams Fraud Prevention 64

PYMNTS

SEPTEMBER 28, 2020

Strong consumer authentication comes in several forms, and it’s time to pick one. “A Some are posing as government officials and asking for personal information for stimulus checks, for example, while others are targeting cryptocurrencies.”.

Financial Crimes 81

Financial Crimes Crime Due Diligence Federal Trade Commission 81

PYMNTS

JUNE 26, 2020

Many of these consumers are exploring digital banking for the first time, however, and are frustrated by customer onboarding pain points. Time-consuming authentication methods, redundant application forms and sluggish processes can all drive away potential customers.

Online and Mobile Banking 88

Online and Mobile Banking Checks Consumer Authentication Audit 88

PYMNTS

JANUARY 3, 2019

includes enhancements to support new authentication procedures for online purchases, which could help stop unauthorized card not present transactions. Its EMV 3-D Secure Protocol and Core Functions Specification v2.2.0

EMV 60

EMV Fraud Detection Consumer Authentication Authentication 60

PYMNTS

FEBRUARY 13, 2020

Between synthetic ID fraud and good old-fashioned identity theft, buttressed by the reams of available consumer data, said Xie, cybercriminals have gotten better at looking like real consumers – making it all the more imperative for the security industry to realign its paradigm with the lifecycle habits of legitimate users.

Authentication 98

Authentication Bots Identity Theft Mitigation 98

PYMNTS

JANUARY 7, 2019

What that means for future use of biometrics for consumer authentication in payments and commerce is unclear, but it’s a good idea to keep an eye on such cases to see how the law develops. In fact, the Wendy’s fast food chain was recently hit with such a suit in Illinois.

Consumer 64

Consumer Laws Privacy Authentication 64

FICO

MAY 3, 2023

As my colleague Adam Davies, vice president of fraud and identity solutions here at FICO recently noted , “Banks can avoid reputational and regulatory impacts by using the latest in fraud prevention technology, such as the FICO Platform, which can help identify and stop existing and emerging threats before they can impact customers.”

Scams 10

Scams RTP Fraud Detection Real Time Payments 10

PYMNTS

APRIL 27, 2016

Can the data trapped in “Digital Exhaust” – like online and social media data – be used to validate identity and predict fraud? Socure sure thinks so. And it has the data model to prove it.

Verification 46

Verification Addressing Authentication Participant 46

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. Debbie has 25 years product management and product marketing experience in fraud management and financial services. Debbie holds a B.A.

Scams 52

Scams RTP Push-to-Card Fraud Detection 52

PYMNTS

APRIL 27, 2016

For Ziolkowski, who was tasked with building out the company’s fraud risk management program, offering paperless tickets and transactions meant progressing beyond “first generation fraud prevention tools” toward more sophisticated solutions using multi-factor authentication.

Authentication 40

Authentication Issuers Fraud Prevention Best Practices 40