Fraud.net

JULY 29, 2024

Learn how Fraud.net's award-winning platform helped a BNPL payment processor reduce account takeovers, first payment defaults, and fraud.

Account Takeovers 59

Account Takeovers Accounts BNPL Processors 59

Seon

JANUARY 29, 2024

In this guide, we’ll see why accounts are targeted, how fraudsters acquire them, and, of course, which steps you should take to secure them. This is your complete guide to understanding and detecting account takeover (ATO) fraud in your business. What Is Account Takeover Fraud?

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Account Takeovers Accounts Fraud Prevention Fraud Detection 52

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. What Do Fraudsters Do with Accounts They Have Taken Over?

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Account Takeovers Accounts Authentication Data Breach 52

Fraud.net

DECEMBER 1, 2023

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

Account Takeovers 52

Account Takeovers Best Practices Accounts Fraud Detection 52

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.

Fraud Detection 52

Fraud Detection Fraud Prevention Account Takeovers Bots 52

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. Each use case should be supported by expertly crafted anomaly detection techniques that are optimal for the problem at hand.

Posting 74

Posting AI Fraud Detection Security 74

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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Transactions Push-to-Card Account Takeovers Fraud Prevention 112

The Fintech Times

AUGUST 13, 2024

Identifying fraud in the age of artificial intelligence (AI) is much harder than it ever has been before. Fraudsters are more cunning and deceiving, taking advantage of those who either do not know or refuse to acknowledge the power of AI. What are some AI fraud trends we’re seeing in Latin America?

AI 59

AI Fraud Detection Fraud Prevention Phishing 59

PYMNTS

FEBRUARY 26, 2020

This also means fraud runs relatively unchecked among quick-service restaurants (QSRs), with total fraud losses on an average order of $15 reaching as high as $36.25. AI to the Rescue. AI systems can prevent these attacks and are inexpensive when compared to the cost of human fraud prevention teams. AI in Action.

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Credential AI Account Takeovers Fraud Detection 56

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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Fraud Detection Fraud Prevention Identity Theft Account Takeovers 52

Fintech Finance

OCTOBER 21, 2024

PalawanPay, trusted by over 19 million customers across the Philippines for affordable, fast, and secure money transfers, bills payments, mobile e-loading, and scan-to-pay services, sought to further enhance its fraud protection by partnering with NetGuardians. PalawanPay and other financial institutions are taking these threats seriously.

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Fraud Prevention Account Takeovers APACS Scams 98

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.

Fraud Prevention 59

Fraud Prevention AI Fraud Detection Payments 59

PYMNTS

AUGUST 21, 2020

Up to one in five account openings are believed to be fraudulent , but financial institutions (FIs) are deploying a number of countermeasures to protect themselves and the customers, including biometrics and artificial intelligence (AI). Deep Dive: Keeping Digital-First Banking Secure With AI, Biometrics. About The Tracker.

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Blocks Identity Theft ATM Online and Mobile Banking 106

The Payments Association

DECEMBER 11, 2024

Digital payments demand advanced fraud prevention, blending AI and human intelligence to counter evolving threats while ensuring seamless user experiences. Emerging trends and challenges Matt DeLauro, CRO, SEON The proliferation of diverse payment methods introduces unprecedented complexity to fraud prevention.

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Fraud Prevention Risk Assessment Payments Account Takeovers 88

Neopay

FEBRUARY 27, 2025

The financial sector is facing an unprecedented surge in AI-driven fraud, with deepfake-related attacks increasing by a staggering 2,137% over the past three years. of all fraud attempts detected in the financial sector now involve AI-generated forgeries, with deepfakes leading the charge.

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Deepfake Fraud Detection Account Takeovers Fraud Prevention 52

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. According to the AI Innovation Playbook , 63.6

AI 44

AI Account Takeovers Fraud Detection Online and Mobile Banking 44

Fintech Finance

AUGUST 2, 2024

Leveraging machine learning and AI, the platform offers comprehensive monitoring and fraud detection capabilities. ComplyTek’s advancements in AI have significantly contributed to its recent industry recognition. Real-Time Capabilities : Instant alerts, live dashboards for transaction monitoring.

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Instant Payments Transactions Payment APIs and Integration Compliance 94

Fintech Finance

MAY 30, 2024

Mangopay , a modular and flexible payment infrastructure provider for platforms, today announces the launch of its new Fraud Prevention solution. Platforms can connect to the solution through the Mangopay product ecosystem, meaning they can easily protect themselves against fraud without any additional integration.

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Fraud Prevention AI Payment APIs and Integration Fraud Detection 52

The Fintech Times

AUGUST 17, 2024

“In today’s highly competitive and digital-first world, the use of behavioural analytics is now vital for innovating for the future of fighting fraud.” Empowering businesses NeuroID’s behavioural analytics solutions are available through CrossCore on the Experian Ascend Technology Platform as a key fraud-detection capability.

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Risk Fraud Detection Bots Identity Theft 59

M2P Fintech

MARCH 24, 2025

With the evolution of cutting-edge technology came centralized data management that provides real-time insights, and AI-driven monitoring and analytics. From loan underwriting to collections, AI algorithms streamline processes, enhance accuracy, and improve the overall customer experience. Explainable AI (XAI) promotes transparency.

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Payment APIs and Integration Blockchain Regulatory Compliance Compliance 52

FICO

APRIL 10, 2019

Charis Research has named FICO a category leader in the AI in Financial Services, 2019; Market and Vendor Landscape. FICO was named a category leader in both AI analytics and packaged AI applications. FICO has also developed AI techniques in response to regulatory encouragement for innovation and efficiency in AML programs.

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AI Real Time Payments Account Takeovers AML 51

PYMNTS

JANUARY 16, 2020

The platform now offers real-time authentication, as well as fraud detection tools that examine voice and other biometric factors. RVShare Uses AI, Machine Learning To Preserve Owner And Renter Trust. To learn more about how RVShare is using AI for greater trust, visit the Tracker’s feature story.

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AI Identity Theft Authentication Verification 53

Finovate

AUGUST 14, 2024

The battle against fraud is a never-ending one. From the challenge of AI-powered deepfakes to the sad fact that many of our own bad habits continue to keep fraudsters in business, fintechs are busy developing solutions to help us get and stay at least one step ahead of the bad guys. ” Alex Shootman is CEO.

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Credential FinTech Deepfake Fraud Detection 64

The Fintech Times

DECEMBER 21, 2023

Today we hear insights from payments experts, including the adoption of tap-to-pay technology, the role of blockchain and AI in payments, flexible payment terms, security in authentication methods, PSD3 implementation, vertical-specific solutions, and the rise of digital wallets.

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Cross-Border Payments Cross-Border Online and Mobile Banking Payments 115

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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Account Takeovers Fraud Detection IRS AI 58

PYMNTS

OCTOBER 1, 2019

In the latest Mobile Order-Ahead Tracker , PYMNTS explores the latest developments in the world of digital ordering, including the rise of artificial intelligence (AI) and machine learning (ML), especially for QSRs protecting themselves against fraud. Artificial Intelligence to Fight Mobile Fraud. problematic.

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Data Breach Breach Account Takeovers Fraud Prevention 57

PYMNTS

OCTOBER 8, 2020

A survey found that 62 percent of customers worry about fraud — such as pilfered payment details, account takeovers or fake reviews being left in their names — when interacting with QSRs. Customers’ top priority regarding restaurants is their own safety, however.

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Innovation Account Takeovers Fraud Detection Bots 56

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

JANUARY 9, 2019

As they craft their omnichannel strategies, most luxury retailers are using a variety of fraud detection programs to counteract increasingly devious methods. With our current fraud detection system, we are utilizing device fingerprinting,” Ciborowski said. The Importance Of AI.

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Fraud Detection Data Breach Account Takeovers Breach 43

Fintech Finance

FEBRUARY 29, 2024

By combining Socure’s accurate and inclusive identity verification and fraud prevention ID+ platform with Trustly’s guaranteed Pay by Bank offering, merchants can onboard users and process payments in one integrated flow. Trustly, with direct banking integrations, provides instant Open Banking payments with transaction guarantees.

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Fraud Prevention Process FinTech Online and Mobile Banking 52

PYMNTS

JULY 30, 2020

With so much highbrow industry chatter about topics like payments fraud detection, it’s good to remember that this is actual crime-fighting. Traditional fraud-fighting approaches often fail against scammers who use synthetic IDs to trick financial institutions (FIs) into letting them open new accounts. Check it out.

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Law Enforcement Credit Union Account Takeovers Federal Reserve 56

PYMNTS

JANUARY 24, 2020

Knowledge-based authentication (KBA) measures such as security questions are not enough as synthetic IDs and account takeovers (ATOs) can often evade issuers’ defenses, Fox said. Issuers thus must shake free of traditional security approaches that may be less effective against modern threats.

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Seon

MAY 8, 2024

Fueled by technology advancements and the widespread availability of affordable cloud computing, this evolution has democratized the ability to launch large-scale cyberattacks and fraud schemes, enabling virtually anyone to orchestrate them. This is where you can integrate residential proxy detection to bolster bot attack mitigation.

Online and Mobile Banking 52

Online and Mobile Banking Fraud Prevention Account Takeovers Bots 52

PYMNTS

MARCH 5, 2019

She stated, too, that a fraud detection team is tasked with watching for and preventing account takeovers. Data breaches, identity fraud and online scams are never identical or static instances,” she said.

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Economy Cross-Border Alternative Payment Methods Account Takeovers 59

FICO

MARCH 9, 2022

Our survey revealed that the primary fraud concerns for the UK banking population do not match the kind of fraud that is having the biggest impact in the UK. For consumers, the biggest concerns are falling victim to account takeover (26%), and ID theft (26%). In reality, they make up only 16% and 5% of UK fraud. . .

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Fraud Prevention Scams Online and Mobile Banking Account Takeovers 59

PYMNTS

NOVEMBER 4, 2019

The rise in fraud is not going unnoticed by the Federal Trade Commission (FTC), however, which noted that millennial consumers are especially vulnerable to fraud, losing $450 million to fraudsters in the past two years, of which $71 million was lost in online shopping scams. International Issues. trillion from the worldwide economy.

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

FICO

OCTOBER 7, 2022

The threat from synthetic identity fraud is amplified as the number of identities that can be created is virtually unlimited and there is no real person that owns the identity who could spot and report the misuse.". Account takeover (ATO) fraud is also using BNPL as an easy gateway. What Is Account Takeover Fraud?

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BNPL Account Takeovers CFPB Consumer Financial Protection Bureau (CFPB) 52