The Payments Association

NOVEMBER 20, 2024

From payment card fraud and identity theft to chargeback fraud and refund fraud, scammers are continuously devising new ways to siphon money away from cardholders and merchants illegally. The good news is that innovations in the AI space are making chargeback prevention a much more manageable prospect. Another 39.7%

AI

PYMNTS

OCTOBER 13, 2020

The October Digital Identity Tracker ® explores how sellers are adopting biometric-based verification and artificial intelligence (AI) tools to draw in customers and fend off fraudsters. Around The Digital Identity Ecosystem. Read more in the Tracker. Deep Dive: Leveraging Digital ID Verification To B oost Consumer Convenience.

Account Takeovers

Seon

JANUARY 29, 2024

This is your complete guide to understanding and detecting account takeover (ATO) fraud in your business. What Is Account Takeover Fraud? In layman’s terms, users may refer to account takeover fraud as account hacking – when they realize someone stole their online credentials.

Account Takeovers

Fraud.net

MARCH 1, 2024

Understand the mechanics of account takeover fraud and discover effective prevention strategies to safeguard against ATO attacks.

Account Takeovers

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.

Blocks

PYMNTS

NOVEMBER 16, 2020

Ragan noted that advanced technologies like artificial intelligence (AI) and machine learning (ML) can help FIs embed defense mechanisms that glean deeper insights into consumer behavior and recognize anomalous patterns — in the process raising red flags to better prevent unauthorized transactions, identity theft and account takeover.

Identity Theft

The Fintech Times

MARCH 6, 2024

Artificial intelligence (AI) has been a godsend in the fintech industry. AI will not be the only development accelerating fraud attempts. The guide also identifies the dual role of AI in fraud dynamics, rising fraud types and countermeasures and the importance of strategic investment in fraud prevention.

AI

The Fintech Times

MAY 17, 2024

The rapidly increasing prevalence of AI-generated content and deepfakes has left many questioning everything they see online. New data from Jumio , the automated, AI-driven identity verification and compliance solutions provider, comes from its new 2024 Online Identity Study , the third instalment of its annual global consumer research.

Deepfake

FICO

FEBRUARY 28, 2018

This defeat skyrocketed artificial intelligence (AI) into the headlines. Twenty years on, AI has transformed our daily lives: from the medical field to voice controlled devices that will order your favorite pizza to self-driving autonomous vehicles. How Is AI Different from Machine Learning? Want to learn more about AI?

AI

PYMNTS

JANUARY 16, 2020

RVShare Uses AI, Machine Learning To Preserve Owner And Renter Trust. That is why RV sharing platform RVshare is utilizing artificial intelligence (AI) and machine learning to protect both RV renters and owners, said company CEO Jon Gray in a recent interview with PYMNTS.

AI

Fintech News

JUNE 6, 2024

This underscores the need for more robust, multi-layered identity verification solutions that can effectively mitigate the risks of these evolving fraud tactics,” said Frederic. Losses exceeded S$13 million (US$9.59

Scams

PYMNTS

JUNE 13, 2019

One of the latest involves hackers successfully accomplishing account takeovers (ATOs) of users of Zelle, the digital payment service. More businesses are adopting artificial intelligence (AI) and other technology to fight fraud. According to the AI Innovation Playbook , 63.6 acquire personal data via account takeovers.

AI

PYMNTS

JUNE 22, 2020

Consider the fact that, as estimated by Javelin Strategy and Research, the combined estimated losses of new account fraud and account takeover in the U.S. When it comes to identity and risk management, there are so many smaller hills along the way that you have to scale and figure out: Is this a fraudster?

Identity Theft

The Fintech Times

AUGUST 17, 2024

The emergence of generative AI-driven fraud has motivated companies across industries from financial services to healthcare and e-commerce to seek new types of fraud-detection technology. Jack Alton, CEO at NeuroID “We are in a new era of fraud driven by AI. For example, how they navigate a form and enter information.

Risk

Finovate

OCTOBER 24, 2024

Socure has acquired risk decisioning company Effectiv for $136 million Socure will integrate Effectiv’s AI-powered orchestration platform into its digital identity verification and fraud solutions. Digital identity verification company Socure has acquired risk decisioning company Effectiv in a $136 million deal.

Risk

PYMNTS

SEPTEMBER 17, 2019

Banks lost about $4 billion to account takeover (ATO) fraud attempts last year and fraudsters have been reluctant to abandon the scheme as this year progresses. This is precisely where technologies like AI and ML can help, says Dominic Venturo, executive vice president and chief innovation officer for U.S. There were 4.1

Online and Mobile Banking

PYMNTS

OCTOBER 29, 2018

The various parts come together to produce a nefarious whole, one that targets personal and payment data to enable product or identity theft , account takeovers and other illegal activities that, left unchecked, can ruin lives and take down companies.

Fraud Prevention

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. Identity theft: Scammers can commit identity theft by using methods like phishing and vishing to impersonate genuine users.

Identity Theft

Finovate

AUGUST 14, 2024

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

Credential

Accertify

NOVEMBER 16, 2023

Key topics include some of the year’s biggest trends such as identity theft and the use of synthetic identities, romantic scams, Authorised Push Payment (APP) fraud and GenAI fraud. Accertify feature on page 77 and you can access the report here.

Fraud Prevention

Fraud.net

MAY 31, 2024

AI is trending across the board, but how is it transforming payments, productivity, and risk management? Learn more in our blog.

AI

FICO

JANUARY 22, 2020

AI can’t slow down the clock, but it can help create systems that are radically quicker to recognize a transaction that smells likely to be fraudulent. Criminals are trying to fool banks into thinking they are new customers or stealing account access by tricking people into making security mistakes or giving away sensitive information.

Real Time Payments

Seon

JUNE 24, 2024

The rise of online transactions and evolving cybercrime tactics highlight the urgent need for strong identity risk management and monitoring. Identity theft presents significant challenges to businesses, making proactive risk mitigation essential for regulatory compliance, trust, asset protection, and operational integrity.

Risk Management

FICO

DECEMBER 16, 2019

The majority are still using primarily rules-based fraud management systems, with just 6% using AI and machine learning. Subscription fraud continues to be a major issue for operators, whether 1st party no intent to pay, identity theft, synthetic identities or (to a degree) account takeover.

Identity Theft

Fraud.net

JUNE 7, 2024

The post Navigating the Risks of Generative AI: A Pragmatic Approach for Banks, Fintechs and Digital Commerce Organizations appeared first on Fraud.net.

AI

PYMNTS

NOVEMBER 4, 2019

From counterfeiting to identity theft to phishing attacks, digital fraud takes many forms — and online shopping continues to make consumers and merchants vulnerable to such attacks. OfferUp uses AI and machine learning to monitor in-app language to flag suspicious behaviors, and encourage smarter and safer decisions among its users.

Online and Mobile Banking

PYMNTS

SEPTEMBER 3, 2019

Fraud takes many forms, from account takeover attacks to identity theft. AI Solutions. Experts estimate that total fraud losses in 2018 totaled $3.9 trillion, an increase of 49.5 percent over the last 10 years. But ad fraud might be one of the most insidious types. billion to it this year.

Bots

PYMNTS

JANUARY 9, 2019

Undoubtedly, Siddiqui added, account takeovers have emerged as the biggest threat for luxury retailers, especially during the holiday season. “We The Importance Of AI. If we did not utilize AI, we would not be able to keep up with their ability to attack and overcome any obstacle we put in their place,” he added.

Fraud Detection

FICO

OCTOBER 7, 2022

FICO’s EMEA general manager Matt Cox recently blogged : "Another rapidly rising phenomenon that has been highlighted by financial services organizations as even more challenging to identify and address than identity theft is synthetic fraud. Account takeover (ATO) fraud is also using BNPL as an easy gateway.

BNPL

PYMNTS

SEPTEMBER 1, 2017

Augmenting professional care with an AI-powered robot can fuel better treatment compliance while also saving healthcare systems from having to hire more employees, or increase the hours and salaries of existing ones. Fraudsters love the phone channel,” said Prugar.

Identity Theft

Fraud.net

JUNE 10, 2024

AI is trending across the board, but how is it transforming payments, productivity, and risk management? Learn more in our blog.

Risk Management

Seon

JULY 10, 2024

These may include various types of fraud, such as identity theft, account takeover, payment fraud and application fraud. Machine Learning : Using advanced technologies, such as artificial intelligence (AI) and machine learning (ML), sophisticated patterns and potential fraud can be predicted and stopped.

Transactions

Nanonets

MAY 31, 2023

million individuals in the United States fell victim to identity theft in 2021. Account Takeover: Criminals gain unauthorized access to customer accounts, allowing them to make fraudulent transactions or transfer funds. According to the Federal Trade Commission, USA, over 1.4

Fraud Detection

Fraud.net

APRIL 25, 2024

Get a closer look at the different types of bank fraud affecting the financial sector. Explore proven solutions to address these effectively.

Addressing

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.

Fraud Detection

FICO

MAY 19, 2020

This will result in more cases of account takeover during this time and for months ahead. As anti-fraud professionals, we should: Be aware of increased account takeover and customers susceptible to scams and help by educating our customers ( Here is some recent advice and tips for consumers ).

Account Takeovers