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Authentication Creates Opportunity To Solve FIs' $1 Trillion Fraud Problem

PYMNTS

But, as three banking security experts told Karen Webster, that same trillion-dollar loss represents a significant authentication opportunity for financial institutions (FIs) if they leverage risk-based authentication and behavioral analytics to help shape and safeguard the great digital shift. Deputizing The Consumer.

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Paper Checks, COVID-19 And The Flaw With Analog Relief Payments

PYMNTS

The government has digital disbursements — for tax refunds, for Social Security payments and the like — but those all require a registration process for consumers that gives the government both access to an email account to reach them and a mechanism to authenticate them and the accounts they want their funds deposited to.

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DataVisor and Mitek Team Up to Help Financial Institutions Fight Check Fraud

Finovate

Additionally, the combination of Mitek’s check image analysis and DataVisor’s analysis of check and customer lifecycle data will enable users to detect a wide variety of check fraud tactics including check kiting, remote deposit capture fraud, check washing, counterfeit checks, and identity theft.

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‘Scattered Canary’ BEC Scams Aim At US Firms

PYMNTS

The group’s genesis traces to West Africa in 2008, where Craigslist was used as a conduit to send counterfeit checks. The machine learning process looks at charges as they are incurred, and mandates additional authentication for charges that look atypical. companies and government agencies.