FICO

MARCH 22, 2022

Account takeover fraud (ATO) occurs when an unauthorized person takes control of an account. The fraudster takes steps to actively control the account, for example by applying for a new card or changing the account contact information or password. Source: Cifas Fraudscape 2021.

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Fraud.net

DECEMBER 1, 2023

Modern account takeover protection requires implementing machine learning, geolocation, and anomaly detection to spot and prevent ATO fraud.

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Account Takeovers Best Practices Accounts Fraud Detection 52

The Payments Association

JUNE 11, 2025

Consequently, the cost of fraud prevention now reaches $4.61 for every $1 of actual fraud incurred, intensifying the trade-off between safeguarding the platform and maintaining scale. The infrastructure supporting fraud operations underscores the UK’s dual role in the global fraud economy—as both target and enabler.

Risk 88

Risk Fraud Prevention Fraud Detection Payment APIs and Integration 88

Fintech Review

APRIL 20, 2025

In the financial sector, it includes fraud detection, threat intelligence, data encryption, biometric verification, and risk monitoring. The risks range from phishing and account takeovers to ransomware and insider threats. What Is Cybertech? Why Finance Needs It Financial institutions are frequent targets for cybercrime.

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Fi911

JULY 8, 2024

This type of fraud can take various forms, including identity theft, chargeback fraud, and phishing attacks. Fraudsters exploit vulnerabilities in online payment systems and often use stolen credit card information or create fake accounts to make unauthorized purchases. How Big of a Problem is eCommerce Fraud?

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The Payments Association

NOVEMBER 20, 2024

Data from Visa suggests that friendly fraud could account for as many as 75% of all disputes. Why are AI tools especially effective at fighting fraud? The technology is gaining traction because these tools excel at fraud detection in several ways. say they plan on using AI fraud-detection solutions in the future.

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Fi911

DECEMBER 3, 2024

By setting a cap on the number of transactions a user can initiate within a specific period, velocity checks aid in reducing the incidence of fraud, thereby mitigating potential losses to merchants. The function of velocity checks extends to monitoring the frequency and speed of cardholder transactions, logins, and account modifications.

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The Fintech Times

JUNE 1, 2024

To find out how efforts of pitting AI against AI are taking shape, and how this could evolve in the future, we take a look at some of the latest anti-fraud approaches utilising AI. Kate Frankish, chief business development officer and anti-fraud lead at Pay.UK This would equate to over £112million worth of fraud detected annually.

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PYMNTS

MAY 28, 2020

Digital-fraud-protection company Kount said Thursday (May 28) that Mercator Advisory Group has named it the best eCommerce Fraud Detection Solution from among more than 40 products ranked.

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Fi911

JANUARY 18, 2024

They subsequently gain control over existing accounts, or establish new ones without the victim’s awareness. These accounts frequently pertain to credit cards and serve as a means to make unauthorized purchases A criminal might use stolen personal information to open a bank account, for example.

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PYMNTS

JULY 9, 2020

Banks have been facing a concerning rise in account takeover (ATO) attacks targeting their customers, with financial institutions (FIs) losses due to such schemes rising 72 percent from 2018 to 2019. The July FI Fraud Decisioning Playbook examines how FIs are working to better detect and defend against ATOs.

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Fintech Finance

MARCH 3, 2025

Built-in fraud protection prevents e-wallet account takeover risks. Antom Shield: Advanced AI for risk mitigation and fraud prevention Antom Shield is an intelligent risk solution that strengthens fraud detection while helping merchants boost order conversion rates and drive growth.

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Fraud.net

MARCH 29, 2024

Discover advanced fraud detection systems used by banks and explore the solutions offered by Fraud.net for proactive fraud prevention.

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PYMNTS

JULY 2, 2020

But the bad news is that fraudsters see a once-in-a-lifetime opportunity to jump into the increased flow of transactions, Gary Sevounts , executive at fraud detection firm Kount , told PYMNTS in a recent conversation. He added that fraudsters have been showing up across the board in terms of fraud types attempted.

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PYMNTS

MAY 7, 2018

In its analysis of the Same-Day ACH rollout, NACHA found no evidence that it led to an increase in fraud attempts or successful breaches. That doesn’t mean that fraud linked to ACH transactions is nonexistent, however. That doesn’t mean that fraud linked to ACH transactions is nonexistent, however.

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PYMNTS

SEPTEMBER 24, 2019

One of the biggest problems, Blanco said, is account takeover. . Account takeover, which involves the targeting of financial institution customer accounts to gain unauthorized access to funds, is an extremely common cybercrime affecting U.S. financial institutions,” he said.

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FICO

FEBRUARY 19, 2020

For many consumers and businesses, the ability to quickly send money directly from their bank account is a win in terms of convenience, but it isn’t without risk, when it comes to fraud and other types of financial crime. It has been named ‘authorized’ because the legitimate account holder is initiating the payment.

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PYMNTS

AUGUST 21, 2020

Digital banking is reaching unprecedented levels of popularity amid the pandemic, with 89 percent of American bank customers using mobile banking apps to manage their savings and checking accounts. This reduces the success rate of fraudsters asking for money to be transferred to their own accounts by claiming to be somebody else.

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PYMNTS

MAY 5, 2020

The good news, Pangretic added, is that consumers and businesses are getting better at detecting fraudsters trying to ply their trade across mobile and online transactions. This can really create a proactive communications strategy to significantly decrease the incidence of successful fraud attempts,” said Pangretic.

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FICO

JANUARY 7, 2019

The tremendous interest in AI and machine learning drove the readership on the Fraud & Security blog in 2018. 5 Keys to Using AI and Machine Learning in Fraud Detection. Author TJ Horan, FICO vice president for fraud solutions, wrote a five-part series on the keys to using AI and machine learning in fraud detection.

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The Payments Association

DECEMBER 11, 2024

This transformation, coupled with credit and debit cards accounting for an additional 32%, changes how transactions occur and introduces new vulnerabilities that sophisticated cybercriminals quickly exploit.

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Fintech Finance

OCTOBER 21, 2024

Our solutions can accurately detect suspicious transactions without disrupting customer service,” added Tat Wee Koh, NetGuardians’ APAC Sales Director. PalawanPay and other financial institutions are taking these threats seriously.

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Neopay

FEBRUARY 27, 2025

Three years ago, deepfake fraud barely registered as a concern today, it is the most common type of digital identity fraud. Deepfake fraud, however, is rapidly climbing the ranks, presenting a new and sophisticated challenge for fraud prevention systems. The Lag in Fraud Detection: Are You Prepared?

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PYMNTS

FEBRUARY 26, 2020

Their research found that nearly half of surveyed restaurants’ online and mobile ordering solutions require only usernames and passwords to log in — a known security weakness given that customers often use the same passwords for multiple accounts. Selecting the Target. ML can be divided into two types: supervised and unsupervised.

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The Fintech Times

AUGUST 17, 2024

This includes account openings, logins and transactions. Robert Boxberger, president of Experian’s North American identity and fraud business “Our acquisition of NeuroID highlights our commitment to provide our clients with world-class data, analytics and insights to prevent fraud. “In

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Risk Fraud Detection Bots Identity Theft 59

Finovate

AUGUST 14, 2024

Use cases for Selfie Reverification include preventing account takeover, securing high-risk transactions, streamlining account recovery and re-verification/re-validation, and more. “Our goal is to help our customers manage security while providing the best experiences for their account holders.”

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Fintech Finance

AUGUST 2, 2024

ComplyTek introduces an advanced transaction screening solution for instant payments , designed to ensure compliance and mitigate fraud within the critical 10-second processing window. Leveraging machine learning and AI, the platform offers comprehensive monitoring and fraud detection capabilities.

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FICO

NOVEMBER 30, 2017

How do we keep our fraud controls relevant, agile, and modern to accommodate new products, new channels, increased digitization and more faceless interactions? Lastly, step 3 requires thinking big across the risk and the fraud continuum. How do we facilitate growth of the business and new customer acquisition?

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PYMNTS

FEBRUARY 10, 2017

The bigger and more widespread cyber threat, as opposed to shimmers, may actually be the ability for cybercriminals to use or sell stolen data for fraudulent online purchases that are typically made in groups of small purchases as to go undetected by fraud detection systems. has fallen significantly behind the curve.

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Payments Source

NOVEMBER 19, 2017

Widespread data breaches have sparked a rise in account-takeover fraud using stolen consumer credentials, prompting merchants to crack down on suspicious purchases. But too many legitimate customers are getting caught in the process.

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PYMNTS

MARCH 22, 2018

Fraud detection startup Sift Science has raised $53 million in a series D round, bringing its total amount raised to $107 million. Founded in 2011, Sift Science plans to use this latest round of funding to grow its fraud detection and prevention product globally. For example, Palo Alto-based Simility received $17.5

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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.

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PYMNTS

JUNE 13, 2019

If it seems like cases of fraud and hacking are always in the news, that’s because new incidents pop up practically every day. One of the latest involves hackers successfully accomplishing account takeovers (ATOs) of users of Zelle, the digital payment service. acquire personal data via account takeovers.

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AI Account Takeovers Fraud Detection Online and Mobile Banking 44

PYMNTS

APRIL 24, 2020

Incidences of account takeover (ATO) were up 347 percent and shipping fraud skyrocketed 391 percent, respectively, from 2018 to 2019, before anyone except virologists had ever heard of COVID-19. Fraud experts are seeing renewed vigor among online crooks as COVID-19 confusion roils markets flooded with bailout dollars.

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PYMNTS

OCTOBER 29, 2018

This is particularly true for legacy FIs, as they must now allow third parties — once considered competitors — access to customer transaction histories and other information, and give FinTech firms the ability to initiate payments from customer accounts to pay for goods and services.

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FICO

JANUARY 15, 2018

Their case is that the receiving bank has been negligent in their account-opening procedures and opened an account for a fraudster using a stolen or synthetic identity. This account has then been used to accept the proceeds of the authorized push payment fraud.

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The Fintech Times

MARCH 18, 2024

These malicious scammers are growing in number and refining their strategies, employing ever more sophisticated methods, including account takeovers, synthetic identity fraud, and social engineering scams. In the UK alone, fraudsters syphoned off £1.2billion in 2022, with almost 80 per cent of app fraud cases starting online.

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