Fintech Finance

AUGUST 19, 2024

Unit21 , a global risk and compliance leader that proactively mitigates risks tied to fraud, money laundering, and other financial crimes, today announced a new bundle of features for Automated Clearing House (ACH) transactions.

ACH 52

ACH Fraud Prevention AI Same Day ACH 52

PYMNTS

OCTOBER 16, 2020

Peer-to-peer (P2P) payment apps like CashApp , PayPal , Venmo and Zelle are especially popular targets for financial crime, with fraud attacks against these apps increasing by 733 percent since 2016. Developments Around The Financial Crimes Space. The nation’s banks managed to reduce their financial crime losses by 374.3 billion) in attacks.

Zelle 89

Zelle P2P Scams Financial Crimes 89

PYMNTS

OCTOBER 24, 2018

When it comes to deploying corporate resources in the battle against online fraud and account takeovers (ATOs), all too often, guiding principles fail to spot what’s really happening to a business in real time. What also jumped out at us was the pattern of behavior after an account takeover,” Huang told PYMNTS.

Rules 63

Rules Account Takeovers Fraud Prevention Risk 63

PYMNTS

MAY 20, 2020

As bad guys wrangle account details, cobble together synthetic identities and conduct account takeover attacks with ferocity, the old rules-based systems, password challenges and other lines of defense provide only part of the picture as to whether “good” customers are buying or “bad” actors are, well, getting away with it.

Issuers 83

Issuers Fraud Prevention Online and Mobile Banking Rules 83

PYMNTS

MAY 27, 2020

Account takeovers (ATOs) rose 347 percent from 2018 to 2019 — a problem that will only worsen if financial institutions (FIs) are not vigilant. Fraudsters seek to fly under the radar by stealing information through one channel that they then use to execute ATOs or other attacks.

Scams 98

Scams Account Takeovers Online and Mobile Banking Credit Union 98

PYMNTS

NOVEMBER 17, 2020

During this hectic time of year, merchants are particularly vulnerable to promotion abuse, account takeover and transaction fraud. To successfully address fraud, merchants need to have a fraud prevention strategy in place well before the holiday season.". Behavioral Biometrics Ensure You Are You .

Volume 72

Volume Transactions Account Takeovers Phishing 72

Fintech News

JUNE 6, 2024

Strengthening Defences: Banks’ Strategies to Combat Scams and Fraud To combat this growing threat, banks in ASEAN are implementing a range of measures to strengthen their defences against scams and fraud.

Scams 109

Scams Phishing Deepfake Verification 109

PYMNTS

MARCH 18, 2020

Fraud is a perennial concern for quick-service restaurants (QSRs), and digital channels open ample new avenues for cybercrime, with hackers targeting restaurants for their cash, data and even customers’ loyalty points. Digital And Analog Fraud Prevention.

Phishing 70

Phishing Smishing Fraud Prevention Point-of-Sale (POS) 70

PYMNTS

FEBRUARY 26, 2020

AI systems can prevent these attacks and are inexpensive when compared to the cost of human fraud prevention teams. QSRs and third-party ordering apps process thousands of transactions every day, making it impossible for human analysts to examine each exchange for fraud. AI to the Rescue.

Credential 56

Credential AI Account Takeovers Fraud Detection 56

PYMNTS

FEBRUARY 14, 2020

The fraud prevention race is the same as it has always been, with merchants and security companies sprinting to stay ahead of cybercriminals to keep data safe and secure. Although fraud losses from banks, retailers and online platforms have continued into 2020, so has security innovation.

Online and Mobile Banking 60

Online and Mobile Banking Fraud Prevention Authentication Account Takeovers 60

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

OCTOBER 1, 2019

In the study, the most common challenge cited by businesses was balancing fraud prevention and customer friction (68 percent), a 65 percent increase from the previous year. According to Kount CEO Brad Wiskirchen, AI and ML can help QSRs and other restaurants become more proactive about fraud rather than reactive. problematic.

Data Breach 57

Data Breach Breach Account Takeovers Fraud Prevention 57

PYMNTS

MAY 5, 2020

“This can really create a proactive communications strategy to significantly decrease the incidence of successful fraud attempts,” said Pangretic. On the “back end” of the business, Elan leverages state-of-the-art fraud detection tools to identify and prevent transactional fraud, account takeover and fraudulent applications.

Fraud Detection 78

Fraud Detection Online and Mobile Banking Scams Issuers 78

PYMNTS

MAY 4, 2020

The FIs must decide in situations like these whether freezing the card payments will rescue the cardholders from fraudsters’ attacks or block legitimate customers from getting the items they need. AI-Powered Analysis Of Transaction Data Fuels Fraud Fighting.

Online and Mobile Banking 79

Online and Mobile Banking Credit Union Data Breach Breach 79

PYMNTS

JULY 18, 2018

How exactly fraud attacks and fraud prevention will change in the post-PSD2 world remains unclear, but change is certain, according to observers. In fact, call center fraud already costs companies $0.58 The report covers ways in which call center operations are fighting fraud — including in Europe, the home of PSD2.

Fraud Prevention 41

Fraud Prevention Account Takeovers Online and Mobile Banking On-Demand 41

PYMNTS

FEBRUARY 11, 2020

The future of eCommerce, and fraud prevention, is flipping the script from just stopping bad transactions to enabling personalized customer experiences. That is why legacy fraud prevention tools are becoming less and less efficient and effective.”. Behind each one of those interactions is an identity,” Sevount said.

Fraud Prevention 58

Fraud Prevention Push-to-Card Account Takeovers Blocks 58

PYMNTS

JANUARY 27, 2020

Such firms cannot grow safely without robust security measures blocking fraud and other abuses from their offerings. Payment service providers (PSPs) must carefully attend to their know your customer (KYC) and know your customer’s customer (KYCC) checks, anti-money laundering (AML) strategies and other fraud prevention approaches.

AML 62

AML Service Provider Real Time Payments Money Laundering 62

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. For fraud prevention, these systems detect unusual patterns or suspicious activities indicative of fraudulent transactions.

Transactions 52

Transactions Fraud Prevention Regulatory Compliance Payments 52

PYMNTS

AUGUST 7, 2020

The research also noted a 40 percent increase compared to February in the number of blocked attempts to guide users to phishing websites for one of the most-visited gaming platforms. . The following Deep Dive examines how fraudsters’ schemes target gamers as well as how data breaches enable bad actors to commit account takeover (ATO) fraud.

Phishing 89

Phishing Data Breach Account Takeovers Verification 89

Seon

MAY 8, 2024

By using thousands of real-time device signals, from geolocation and IP information to behavioral data such as battery life, phone orientation and font count, suspicious setups and settings across desktop and mobile devices can be flagged and blocked.

Online and Mobile Banking 52

Online and Mobile Banking Fraud Prevention Account Takeovers Bots 52

FICO

MARCH 16, 2021

But when the consumer provides personal data and authorization credentials, the bogus service provider captures the information and uses it to commit an account takeover. . To find out more about the impacts of open banking on fraud and financial crime read Open Banking: Will it Increase Fraud and Financial Crime?

Money Laundering 52

Money Laundering Fraud Prevention Financial Crimes Due Diligence 52

PYMNTS

OCTOBER 29, 2018

Many digital fraud detection and prevention tools must be refined and trained for a period of 18 months to 2 years before they become familiar with the types of cybercrimes that come with those transactions, and how to stop them. The resulting transactions brought about by open banking aren’t the only digital fraud concerns for banks.

Security 76

Security Payment APIs and Integration API Authentication 76

The Fintech Times

AUGUST 13, 2024

Our daily adaptative model not only learns from what has happened in the past from a behaviour and transactional perspective but also analyses each day’s transactions to understand and prevent evolving fraudulent activity. What are some AI fraud trends we’re seeing in Latin America?

AI 59

AI Fraud Detection Fraud Prevention Phishing 59

Seon

MAY 28, 2024

The importance of robust fraud prevention and anti-money laundering (AML) solutions in the iGaming sector cannot be overstated. There is an opportunity to boost profitability by refining fraud prevention and AML efforts. Strengthen Fraud Defenses Elevate iGaming security with advanced fraud and AML.

Security 52

Security Bots Fraud Prevention AML 52

Seon

JUNE 15, 2023

Thankfully, as BEC attacks are often a product of human error, many can be avoided with due diligence and training – both of which can be enhanced with the right fraud prevention tools. A BEC attack is when a fraudster gains unauthorized access to a business’s account. What Is a Business Email Compromise Attack?

Email Compromise 52

Email Compromise Compromise Business Email Compromise Risk 52

PYMNTS

SEPTEMBER 28, 2017

The fact remains that the very data that is readily available across all conduits of transactions – from phone numbers to Social Security numbers – are there for the taking, across all manner of firms, and can be used as building blocks to create sophisticated ways to defraud the innocent. The former has been around for a long time.

Enrollments 43

Enrollments Breach Fraud Detection Social Security 43

PYMNTS

JUNE 1, 2020

In a roundtable discussion, the last in the “Powering the Digital Shift” series with Karen Webster, six experts in money movement, fraud prevention, banking and financial technology discussed one sure bet: “Digital optional” is no option as we move toward contactless commerce. Looking At Digital IDs — And Friction.

Cross-Border 69

Cross-Border Payments Privacy Issuers 69

PYMNTS

OCTOBER 11, 2018

Training, Fagan noted, is often an area that sits on the funding chopping block, because the payout from the investment isn’t always as obvious. Fraud, Fagan noted, is complicated — one might be looking at an account takeover, or at a fraudster attempting to access a reward system and do some points looting.

Credit Union 56

Credit Union Fraud Detection Online and Mobile Banking Account Takeovers 56

FICO

MAY 19, 2020

It's imperative that we do our best to protect our customers from fraud during this vulnerable time, especially when record numbers of people are losing their jobs, unable to work, and facing adversity with their health. 2) Top 5 Fraud Manager Considerations During COVID-19: Scams are now tailored, so we need to modify our strategies.

Account Takeovers 52

Account Takeovers Identity Theft Scams Online and Mobile Banking 52