Finovate

JANUARY 24, 2025

Many FIs need to significantly upgrade their payment processing systems to handle real-time transactions, which also need to uphold fraud detection and AML/CTF rules in real time. It increases the risk of data breaches, identity theft, and payment fraud. However, several areas still need more attention.

Regulations

Segpay

NOVEMBER 26, 2024

Leveraging technologies like artificial intelligence (AI) and machine learning (ML) can enhance the accuracy of identity verification and fraud detection. The Importance of Reliable Digital Identity Verification In a digital world, ID verification is a trust-building mechanism that protects both the user and the organization.

Verification

Stax

AUGUST 22, 2024

Thorough due diligence, technology, and adherence to regulatory guidelines are essential in a PayFac’s risk management strategy. You need thorough due diligence, technology, and adherence to regulatory guidelines in your risk management strategy. The due diligence doesn’t stop at onboarding.

Risk Management

Core

FEBRUARY 6, 2024

This type of government fraud can occur at various levels of the payment process, including the initiation, authorization, processing, and reconciliation of payments. The digitization of public financial systems introduces new challenges for online payment fraud prevention.

Best Practices

Seon

JULY 10, 2024

Fraud monitoring is a broader term encompassing the overall detection and prevention of fraudulent activities within an organization. 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.

Transactions

Trade Credit & Liquidity Management

MARCH 11, 2025

Common problems such as bid rigging, false billing, and subcontractor fraud can obscure accountability, making it challenging to trace responsibility for financial discrepancies. Healthcare: Companies in this industry face challenges, with billing fraud, prescription fraud, and identity theft.

Due Diligence