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

SEPTEMBER 11, 2023

As neobanks evolve, the one downside of their innovation is that it opens up many new methods of attack for fraudsters, such as identity theft, fraud rings, and account takeover attacks. We know neobank risk teams must stay aware of evolving threats and take an active approach to closing those routes to fraud.

Identity Theft 52

Identity Theft Money Laundering Account Takeovers Fraud Prevention 52

PYMNTS

FEBRUARY 18, 2020

This creates new security challenges as firms must learn to centrally manage their fraud protection methods while also gauging threats across many different channels. Fraud orchestration can help solve this issue as it allows banks to build holistic fraud prevention defense systems and gain 360-degree views of their customers.

Authentication 52

Authentication Identity Theft Multifactor Authentication Fraud Prevention 52

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. We now have fraud detection systems that use machine learning and AI to identify and prevent fraud and cyberattacks.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

Core

FEBRUARY 6, 2024

Government fraud in payments can involve several practices, including: Altered documentation Embezzlement False billing Forgery Identity theft Kickbacks Unauthorized use of government accounts Unsubstantiated reimbursement Essentially, government fraud in payments encompasses any practice aimed at diverting public funds for unauthorized purposes.

Best Practices 52

Best Practices Governance Government Fraud Prevention 52

PYMNTS

MAY 6, 2020

Fraudsters can also carefully hoard a cache of stolen bank account data, credit and debit card information, Social Security numbers and other details to impersonate legitimate customers, using these details outright or cobbling them together to perpetrate identity theft, new account fraud and gain entry to other platforms.

Fraud Prevention 72

Fraud Prevention Money Laundering AI Identity Theft 72

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. More specifically, Experian is looking to bolster its defenses against AI-generated fraud threats. ” Alex Shootman is CEO.

Credential 64

Credential FinTech Deepfake Fraud Detection 64

Clearly Payments

JULY 16, 2024

Fraud Rate by Industry in 2023 Credit card fraud is a pervasive issue impacting various industries, each with unique vulnerabilities and estimated fraud rates. Rank Industry Fraud Rate Most Common Fraud Type 1 Travel and Hospitality 3.2% Rank Industry Fraud Rate Most Common Fraud Type 1 Travel and Hospitality 3.2%

Risk 52

Risk Identity Theft Phishing Account Takeovers 52

Fintech Finance

MARCH 18, 2024

Equifax and VTEX , the composable and complete commerce platform for premier B2C and B2B brands, join forces to help fortify fraud prevention capabilities for merchants across the globe. ” The partnership aligns with the rising demand for robust fraud prevention measures globally in the e-commerce landscape.

Fraud Prevention 52

Fraud Prevention Fraud Detection Identity Theft Cybersecurity 52

Seon

JANUARY 29, 2024

In layman’s terms, users may refer to account takeover fraud as account hacking – when they realize someone stole their online credentials. It is also considered a form of identity theft, because it happens when someone logs into an account that isn’t theirs to exploit it.

Account Takeovers 52

Account Takeovers Accounts Fraud Prevention Fraud Detection 52

Seon

JULY 10, 2024

These may include various types of fraud, such as identity theft, account takeover, payment fraud and application fraud. Fraud transaction monitoring’s scope is narrow. It focuses on monitoring transactions to identify and detect fraudulent activities related to money movement.

Transactions 52

Transactions Fraud Prevention Regulatory Compliance Payments 52

The Payments Association

OCTOBER 4, 2024

Security concerns and fraud prevention One of the most significant challenges is the persistent threat of fraud. Cybercriminals are constantly innovating, targeting vulnerabilities in payment systems to carry out unauthorised transactions, identity theft, and data breaches.

Cross-Border Payments 88

Cross-Border Payments Online and Mobile Banking Cross-Border Alternative Payment Methods 88

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

Finovate

APRIL 11, 2024

Additionally, the combination of Mitek’s check image analysis and DataVisor’s analysis of check and customer lifecycle data will enable users to detect a wide variety of check fraud tactics including check kiting, remote deposit capture fraud, check washing, counterfeit checks, and identity theft.

Checks 59

Checks Remote Deposit Capture Counterfeit Check Identity Theft 59

Clearly Payments

JANUARY 8, 2024

Here are some key types of risks that merchants should be mindful of in payment processing: Fraud Risk: Fraud risk involves unauthorized or deceptive activities aimed at exploiting the payment system for financial gain. This can include stolen credit card information, identity theft, or fraudulent transactions.

Risk Management 97

Risk Management Risk PCI DSS Process 97

PYMNTS

NOVEMBER 4, 2019

In the company’s ongoing efforts to prevent fraud on its site, Amazon announced a new program, Intellectual Property Accelerator, last month to help sellers make sure their products won’t be copied or counterfeited. According to a new LexisNexis study , overall retail fraud attempts doubled year-over-year and tripled since 2017.

Online and Mobile Banking 49

Online and Mobile Banking Cross-Border Federal Trade Commission Fraud Prevention 49

PYMNTS

JANUARY 16, 2020

The platform now offers real-time authentication, as well as fraud detection tools that examine voice and other biometric factors. A Multi-Layered Fraud Approach Critical To Consumer Data Protection. For more on this and other stories, visit the Playbook’s News & Trends section.

AI 53

AI Identity Theft Authentication Verification 53

Nanonets

MAY 31, 2023

Common examples of external payment fraud include: Impersonation: Fraudsters pose as legitimate customers or vendors to deceive organizations into making unauthorized payments. million individuals in the United States fell victim to identity theft in 2021. According to the Federal Trade Commission, USA, over 1.4

Fraud Detection 52

Fraud Detection Payments Audit Fraud Prevention 52

FICO

MAY 3, 2023

Implement better fraud detection Survey responses: More than three-quarters (77%) of consumers worldwide believe their banks could provide better fraud detection to protect against scams. Debbie has 25 years product management and product marketing experience in fraud management and financial services.

Scams 10

Scams RTP Fraud Detection Real Time Payments 10

PYMNTS

JUNE 13, 2019

Old manual detection techniques like analyzing geolocations, IP addresses and discrepancies between billing and shipping addresses aren’t able to catch high-level attacks, and often result in false positives. These are patterns that would not be visible to the naked eye.”.

AI 44

AI Account Takeovers Fraud Detection Online and Mobile Banking 44

PYMNTS

MARCH 1, 2019

And that’s causing a problem that goes beyond more traditional forms of ID fraud. In a new PYMNTS discussion, Yinglian Xie, CEO and co-founder at DataVisor , a fraud detection services provider, takes a look at the growth and tactics of synthetic ID fraud.

Social Security 60

Social Security Fraud Prevention Crime Fraud Detection 60

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. FIs need a different perspective to identify when APP fraud is happening. Explore all our fraud prevention and detection offerings.

Scams 52

Scams Push-to-Card Fraud Prevention CashApp 52

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. Want to learn more?

AI 45

AI Fraud Detection Rules Identity Theft 45

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

JULY 28, 2020

Researchers dubbed synthetic ID fraud the “fastest-growing form of identity theft” in the U.S. One study found that FIs’ traditional fraud detection approaches failed to flag between 85 percent and 95 percent of credit applicants believed to be using synthetic IDs, for example. .

Online and Mobile Banking 53

Online and Mobile Banking Social Security Identity Theft Fraud Detection 53

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 Identity Theft Risk Accounts 52

Seon

JUNE 21, 2023

Those people can be enticed by the offer of a VCC and ultimately tricked into providing their financial information, leading to cases of phishing and/or identity theft. Some corrupt websites claim to offer the generation of a VCC to innocent cardholders searching the internet for an alternative to physical credit cards.

Credit Cards 52

Credit Cards Risk Online and Mobile Banking Phishing 52

Fintech Labs Insights

DECEMBER 20, 2016

And once a company is able to tell good users from bad, he said, “all the other technological attacks that are available, such as identity theft, account takeover, new account fraud … become very easy to deal within this framework.”

Security 17

Security Identity Theft Account Takeovers Fraud Detection 17

Fraud.net

FEBRUARY 27, 2024

An incident involving an HK company and a fraudulent payment of $25.6M underscores the need for traditional controls with AI decisioning.

AI 52

AI Payments Identity Theft Fraud Detection 52

Fintech News

OCTOBER 28, 2024

With the proliferation of generative AI expected to result in US$40 billion in fraud losses by 2027 — and that’s just in the United States — financial institutions need to step up their fraud-prevention tactics.

Verification 120

Verification Deepfake AI Identity Theft 120

Finovate

DECEMBER 9, 2024

What are the most challenging fraud threats and, critically, what are the available tools and tactics available to deal with them successfully? Helping companies around the world onboard customers safely, fight fraud, and stay compliant, Tomlinson has more than a decade of experience in the identity industry.

Financial Crimes 69

Financial Crimes Crime Fraud Prevention Cross-Border 69

Segpay

DECEMBER 19, 2024

With growing concerns around data breaches, identity theft, and unauthorized access, organizations need to ensure that only authenticated users can access their systems and sensitive information. Jumio (Austria, UK) Jumio is a global leader in identity verification with European offices in Austria and London.

Verification 104

Verification Authentication MFA Compliance 104