Seon

MAY 23, 2024

across age groups and income brackets, the volume of digital activities and transactions are on the rise – and effective fraud prevention measures have never been more critical to safeguard a business’s bottom line. Safeguard Your Business, Protect Your Future Don’t let fraud drain your resources.

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Fraud Prevention Deepfake Fraud Detection Authentication 52

The Fintech Times

JUNE 24, 2024

As many as 15 million Brits could have fallen victim to scams in the past 12 months, according to new research from Wise , the international money app. Among those hit by scams, 17 per cent reported a significant financial impact, with 10 per cent even having to delay retirement plans as a result.

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Fintech Review

SEPTEMBER 5, 2024

Palo Alto, California, United States, September 5th, 2024, Chainwire AI-driven platform detects fraud at its earliest stages, preventing billions in potential crypto losses As scams grow more sophisticated and increasingly target crypto for laundering billions in losses, CUBE3.AI AI is pioneering a new era in fraud prevention.

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Fintech News

APRIL 7, 2024

In the contemporary digital world, the proliferation of deepfake technology and generative AI heralds an era fraught with online scam challenges, notably within the financial sector in Asia. Economic Ramifications of Deepfake Scams The global impact of impersonation scams can be far-reaching, and expensive. ” says Wells.

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The Payments Association

OCTOBER 22, 2024

While this marks a significant step toward protecting consumers from authorised push payment (APP) fraud, concerns remain that the reduced compensation cap may leave some victims vulnerable. Further, it is unclear whether the rules address the complexities and evolving fraud tactics. AI is a double-edged sword in fraud prevention.

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Neopay

SEPTEMBER 11, 2024

The Payment Systems Regulator (PSR) has set a crucial date of 7 October 2024 for implementing new protections against Authorised Push Payment (APP) scams, reaffirming its commitment to tackling this growing threat. The post PSR confirms APP scam protection updates and consults on high-value fraud cap appeared first on Neopay.

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The Fintech Times

AUGUST 20, 2024

Global cryptocurrency exchange Binance is joining forces with the Macau Judiciary Police to launch a joint anti-scam campaign to increase risk awareness and reduce the risk of fraud in the digital space. The latest campaign will start as a month-long trial.

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Fintech News

JUNE 6, 2024

In recent years, the banking sector in the Association of Southeast Asian Nations (ASEAN) has witnessed a significant surge in scams and fraud activities. DBS isn’t the only bank making news for phishing scams. US$129,841). Losses exceeded S$13 million (US$9.59 Losses exceeded S$13 million (US$9.59

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Scams Phishing Deepfake Verification 105

The Fintech Times

MARCH 27, 2024

Form3 , the cloud-native account-to-account platform, has launched a new authorised push payment fraud (APP fraud) prevention solution, powered by Feedzai , the anti-fraud and financial crime software provider.

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Fintech Finance

AUGUST 19, 2024

“Our new ACH fraud solution uses GenAI and machine learning to bring real-time risk monitoring and investigating tools to fraud practitioners, empowering them to mitigate risk while further gaining their customers’ trust and loyalty along the way.”

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Fintech Finance

MAY 30, 2024

In a groundbreaking pilot in partnership with Pay.UK , Visa , a world leader in digital payments, has shown how leveraging the latest AI technology has the potential to drastically cut the £600m1 lost annually to account-to-account scams and fraud over recent years in the UK.

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BioCatch

MAY 14, 2024

As I’ve previously blogged , the state of scams in Sweden has been a hot topic in the media over the past few months, not least due to a show on Swedish SVT where an investigative journalist followed a criminal gang who used social engineering to convince elderly people to transfer their savings through a hybrid smishing and vishing campaign.

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Neopay

NOVEMBER 27, 2023

Revolut is the most common recipient of Faster Payments made by crypto investment scam victims at Lloyds Banking Group, which is reporting a surge in get-rich-quick adverts on social media. The number of cryptocurrency investment scams reported by victims so far this year has risen by 23%, compared to the same period in 2022, notes the bank.

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Fintech Finance

OCTOBER 21, 2024

Award-winning Swiss FinTech, NetGuardians , known for its enterprise risk platform focused on combating bank fraud, has been chosen by PalawanPay , the e-wallet app from the Palawan Group of Companies, to bolster its fraud prevention measures. PalawanPay and other financial institutions are taking these threats seriously.

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Accertify

NOVEMBER 16, 2023

The Paypers Fraud Prevention in Ecommerce 2023 – 2024, Keeping Fraudsters Out While Balancing a Seamless Customer UX has been released and it has been made available for download. It discusses the most common, yet ever-evolving types of fraud, including chargebacks, scams, and account takeover (ATO), with their latest developments.

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BioCatch

SEPTEMBER 19, 2024

There is no escaping the scam problem, and Australia has been no exception. There were over 600,000 scam cases reported in 2023, costing Australians $2.7 The Scams Prevention Framework (SPF) is part of a broader initiative to modernise Australia's laws for the digital age, including privacy and online safety reforms.

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Seon

OCTOBER 2, 2023

We look at how refund scams work and how the right precautions can stop them from damaging your business. What Are Refund Scams? Refund scams involve a criminal tampering with a POS (point of sale) terminal so it sends them an unwarranted refund. How Do Refund Scams Work?

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FICO

FEBRUARY 23, 2022

New data suggest that people are concerned about fraud, but one of the biggest threats seems to be flying under the radar, at least for consumers. That threat is fraud scams – tactics and techniques that fraudsters are using to trick people into giving away their money. Preferred Communications Channels are Susceptible to Fraud.

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BioCatch

MAY 9, 2024

Working as a fraud fighter on the front lines every day, there is not a scam or threat I have not seen. What I do for work makes me skeptical of every text message, phone call or email I receive – much more than your average consumer.

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FICO

NOVEMBER 15, 2021

Their lives can be turned upside down and their finances ruined when they become victims of clever scam artists. We can all become victims of fraud. This is compounded by a feeling that scams happen to those who are vulnerable or in some way naïve or stupid. . The truth is that anyone can become a victim of a scam.

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Finovate

OCTOBER 7, 2024

As October gets underway in earnest, Finovate’s Fintech Rundown shares news of expedited payments to help those impacted by hurricane Helene, another partnership to help new Canadians secure credit, as well as a major investment in cross-border payments and a big acquisition in the fraud prevention space.

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Finovate

SEPTEMBER 24, 2024

Global analytics software company FICO has teamed up with Jersey Telecom to offer a new solution to combat Authorized Push Payment (APP) fraud. The new offering, the FICO Customer Communications Service Scam Signal, combines real time network data with customer and payment data to identify and mitigate APP fraud as it happens.

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FICO

NOVEMBER 30, 2022

Stopping Scams with Artificial Intelligence and Machine Learning. Artificial intelligence and machine learning models can help banks stop scams, prevent losses to fraudsters and improve customer experience. Consumers are not as worried about APP fraud and scams as they are for other types of fraud, but awareness is growing.

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BioCatch

OCTOBER 4, 2024

As we discussed earlier this summer , many Southeast Asian nations have begun exploring new fraud-fighting legislation.

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BioCatch

FEBRUARY 26, 2024

When we think of helping scam victims, the first thought that probably comes to mind is providing reimbursement for lost funds. Making victims whole can certainly help ease some of the stress and anxiety they are feeling, however, emotions often run deeper than just seeing money placed back in their bank account.

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FICO

APRIL 26, 2023

Home Blog FICO Survey: Do Customers Think Banks Are Fair to Scam Victims? According to the Australian Competition and Consumer Commission’s Scamwatch , for example, more than 57,000 scams were reported in the first two months of 2023 alone. Are Banks Fair with Victims of Scams? So what happens when customers are dissatisfied?

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Fintech Finance

FEBRUARY 15, 2024

Revolut , the UK’s leading fintech with more than 35 million customers worldwide, has today announced the launch of an advanced scam detection feature to help protect customers from card scams. The customer is then protected from performing other similar payments and sent through a scam intervention flow in-app.

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Fintech Finance

SEPTEMBER 18, 2024

In the fight against the growing problem of financial scams, global analytics software leader FICO has collaborated with Jersey Telecom (JT) to develop a powerful solution that enables direct, near real-time intervention to protect customers. This type of fraud is growing around the world; 2023 losses in the UK alone reached £460million.

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BioCatch

MAY 8, 2024

In 2023, Australian banks, the government, technology partners, and many others worked together to reduce scam losses in the country by 13%. This is an incredible result of inter-bank and cross-industry collaboration that’s made Australia a more difficult target for scammers. And yet, retail-banking customers in the country still lost $2.4

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The Fintech Times

JUNE 1, 2024

Meanwhile, the fraud landscape is rapidly changing. Over a third of fraud attempts (42.5 per cent) targeting financial institutions now use AI, according to a recent study by digital identity and fraud prevention solution Signicat. Overall, around 29 per cent of these AI-driven fraud efforts are successful.

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FICO

MARCH 10, 2022

One of the most interesting takeaways for me is that banks have an opportunity for proactive, personalized customer communication, in the channel of their choice, to provide fraud detection and fraud prevention, as well as to manage fraud cases so that they can be bought to a conclusion more quickly and with a better customer experience.

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FICO

DECEMBER 15, 2022

Our Scams Model Just Won an Award for Machine Learning. Credit & Collections Technology Awards recognize our scams model with the award for Machine Learning - here's why. I’ve previously discussed our company’s work on an Artificial Intelligence-based scams model for FICO® Falcon® Fraud Manager and the technology behind it.

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FICO

JUNE 15, 2023

Home Blog Feed test To Stop Scams, It’s Time to Add Sensible Friction to Easy Money The convenience and speed of real-time payments makes it easy for fraudsters to scam individuals. Now, I can practically send, transfer, or pay by accident by simply looking at my smartphone, which can make fraud prevention a real challenge.

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Finextra

SEPTEMBER 10, 2024

While many financial institutions continue to be concerned about whether they are breaching rules and obligations, in certain situations, the fact that sharing data for fraud prevention can be useful and is a legitimate reason, is lost.

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BioCatch

MARCH 22, 2024

The Global Anti-Scam Alliance (GASA) , together with BioCatch , just released its 2024 State of Scams in Sweden report. billion in scams in the last 12 months alone. It shows Swedes lost $2.75

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FICO

FEBRUARY 23, 2022

New data suggest that people are concerned about fraud, but one of the biggest threats seems to be flying under the radar, at least for consumers. That threat is fraud scams – tactics and techniques that fraudsters are using to trick people into giving away their money. Preferred Communications Channels are Susceptible to Fraud.

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PYMNTS

OCTOBER 19, 2020

These apps are not without danger, though, and fraudsters are looking to cheat and scam their way to paydays from innocent users. We split out scams and frauds,” he explained in a recent interview with PYMNTS. Fraud means someone is trying to access your device, while scams consist of people being tricked into sending money.”.

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