This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Blockchain analysis firm Chainalysis has acquired Alterya , an AI-based frauddetection platform focused on identifying scams before they impact victims. Frauddetection faces new challenges with advanced technologies like generative AI enabling more complex scams.
The acquisition is expected to bolster Visa s fraud protection capabilities and enhance security for its customers worldwide. Featurespaces advanced frauddetection and risk-scoring capabilities will be integrated into Visas existing portfolio of fraud prevention solutions.
Real-Time FraudDetection: Defence at Machine Speed Traditional fraud systems rely on static rules and after-the-fact analysis. But fraud doesn’t wait, and neither can protection. In a world of instant expectations, rising digital risk, and hypercompetition, AI is not a future concept,it’s the present differentiator.
AdvanThink, the European leader in payment frauddetection, and Quandela, a French start-up and leader in photonic quantum computing, have formed a scientific partnership to create the future of payment frauddetection.
HPS , a leading global provider of payment software and solutions, and Enigma , a global leader in artificial intelligence enabled entity resolution and decision-making, today announced a strategic collaboration to deliver cutting-edge AI frauddetection models to businesses worldwide.
Swift is also testing frauddetection use cases in a sandbox environment. Additionally, Swift is exploring the use of federated learning, a privacy-preserving AI technique, to allow banks to share information securely and improve frauddetection models collaboratively.
Payment giant Visa is set to acquire Featurespace, a company specialising in artificial intelligence (AI) technology for real-time payments fraud protection. The acquisition aims to bolster Visa’s frauddetection and risk management capabilities, which are used globally by financial institutions and businesses to safeguard transactions.
Swift, the global financial messaging service provider, is collaborating with Google Cloud to develop innovative anti-fraud technologies. This approach enhances frauddetection capabilities while ensuring data confidentiality.
As payment systems become more digitised and interconnected, the attack surface expands, and the stakes for payments firms to invest in robust, AI-driven frauddetection and prevention systems have never been higher. fingerprints, facial recognition), and behavioural biometrics (e.g., keystroke dynamics or mouse movements).
The solution has already been used by early-access customers, with one Latin American fintech company reporting over 30 percent more fraud attempts detected, including injection attacks and deepfakes.
Organised crime groups target FIs and their customers, adapting attack methods across payment channels to bypass frauddetection systems, with authorised push payment fraud (APPF), account takeover (ATO) fraud, and AI-enabled deep fake scams. Static and inflexible fraud prevention solutions are no longer sufficient.
The dual impact of generative AI on payment security, highlighting its potential to enhance frauddetection while posing significant data privacy risks. From frauddetection to customer support, AI-driven solutions are revolutionising how payments are processed and safeguarded. What is this article about?
By integrating real-time data sharing, artificial intelligence, and advanced frauddetection tools, avoided.io Real-time frauddetection and prevention: Avoided.io leverages advanced frauddetection technology to identify suspicious transactions in real-time. Avoided.io
Research from the investment bank Jefferies suggests generative artificial intelligence could be used in the payments industry to improve frauddetection and make transactions happen faster.
LexisNexis Risk Solutions, a global data and analytics company under RELX, has agreed to acquire IDVerse , a provider of AI-powered document authentication and frauddetection solutions. This move will enable LexisNexis Risk Solutions to further enhance its capabilities in combating AI-generated fraud, including deepfakes.
. “With new frameworks like PSD3 and DORA shaping the industry, banks and fintechs must embed resilience, security, and real-time frauddetection into their core operations.” This will enable them to onboard customers faster and comply with international KYC/AML regulations.
A roundtable discussion among merchants addressing the evolving challenges of fraud in their operations across various sectors. It highlights the necessity of advanced frauddetection and greater industry collaboration. Improving regulations, using technology for detection, and fostering industry-wide cooperation.
Fraud Prevention and Security Cross-border transactions have higher fraud risks than domestic payments. Cybercriminals often target international transactions due to the complex nature of frauddetection across regions.
Hotels can offer a wider variety of payment options, enhanced fraud protection, and an easier way to manage international transactions, improving guest satisfaction and increasing revenue potential. To find out more about PXP, please visit: [link]
Additionally, it can help detect suspicious patterns, such as multiple transactions from vastly different locations in a short time. This added layer of security enhances frauddetection systems, enabling businesses to take proactive measures in protecting their customers and their data.
The challenge: Traditional frauddetection is falling behind The lack of visibility across the payment lifecycle creates vulnerabilities that can be exploited by criminals. A collaborative approach to fraud modeling offers significant advantages over traditional methods in combating financial crimes.
Crypto fraud rate, %, Source: State of the Crypto Industry 2025, Sumsub, Feb 2025 According to the report, these results can largely be attributed to advancements in fraud prevention technologies, with innovations like biometrics checks and artificial intelligence (AI)-backed automation significantly enhancing security and frauddetection.
stands out as the most proactive and comprehensive chargeback prevention solution, offering a unique combination of features that differentiate us from traditional fraud prevention tools: Real-time frauddetection and alerts: Leveraging Ethoca and Verifi, Avoided.io Why avoided.io is unique Avoided.io
Unfortunately, older frauddetection methods often cant keep up with todays fast-moving threats. A new approach to fighting fraud Regarding fraud prevention, simple rule-based systems arent enough anymore. And the risks are real. Whats needed is a more dynamic, joined-up approach.
The latest addition to this network is Forter, a global leader in AI-powered fraud prevention, who joins Paydock in transforming frauddetection and prevention for online businesses. By automating frauddetection, businesses can eliminate manual reviews, accelerating fulfilment and providing a smooth customer experience.
While banks and payment providers are making strides in frauddetection and prevention, the report stresses the need for more robust collaboration with technology and telecom sectors. Internet banking fraud , once a dominant form of remote fraud, saw a dramatic 37% drop in cases and an 11% reduction in losses.
With this new partnership, FinMont’s global payment platform will support a wide range of payment methods, and ensure a seamless transaction process, fortified by robust frauddetection features.
Further, fraudsters are increasingly adept at circumventing and subverting rules-based AML and frauddetection strategies. To address this, Hawk puts AI-powered technology to work increasing the frauddetection accuracy to find more crime while keeping false positives low.
FraudDetection: A Key Focus When it comes to AI in the payments world, frauddetection is still the heavyweight champion, according to Sundt. “There’s merchant onboarding and there’s transactional settlement fraud that we focus on.”
A roundtable discussion among merchants addressing the evolving challenges of fraud in their operations across various sectors. It highlights the necessity of advanced frauddetection and greater industry collaboration. Improving regulations, using technology for detection, and fostering industry-wide cooperation.
In deploying AI in merchant services, enhanced frauddetection and prevention against new scamming schemes like deepfaking is as important, if not more important, as increasing operational efficiency,” says Yang Peng, Chief Executive Officer of Ant International.
Filip Berlikowski CTO, Payall "RT2’s real-time capabilities and ISO 20022 structured data will transform UK payments—enabling immediate frauddetection, reducing false positives, and turning compliance into a competitive edge. Democratised access will foster fintech-bank collaboration, driving innovation.
Financial institutions are looking to deepfake detection solutions in their fight against the growing threat of generative AI-driven fraud. The growing deepfake detection market is expected to be a $15.7 billion industry by 2026, according to consultancy firm Deloitte.
It might not be enough for financial institutions to invest heavily to upgrade their technology and educate their customers to combat fraud. The financial frauddetection and prevention market is projected to reach $27.27 billion in 2025, up from $24.31
Table of Contents Voices from the industry: Insights into the 2024 payments landscape In 2024, we witnessed a convergence between consumer and B2B payments, driven by the rise of BNPL adoption, AI-powered frauddetection, and the continued digitalisation of payment platforms.
AI-enabled document processing company ParaScript has updated its check recognition solution, CheckXpert.AI, bringing advanced endorsement reading to its tool.
Visas AI-powered Anti-Money Laundering AI enhances frauddetection and prevention, while tokenization reduces fraud risk by replacing sensitive card details with unique tokens. Enhanced Security: With the rise of digital payments, security is paramount.
Sumsub said the solution is particularly useful in high-risk sectors like crypto, fintech, banking, and e-commerce, where early detection can prevent financial losses and protect platform integrity. Together, our solutions provide greater accuracy and a more complete fraud prevention system, with no coding required on the clients’ side.
Global paytech solution provider Worldpay has forged a new partnership with Capital One , the American bank holding company, in a move to optimise payment fraud decisioning and enhance payment security and efficiency with a data sharing agreement.
Frauddetection – Frauddetection and prevention measures identify and block any fraudulent activities in the payment system. Digital goods & services – Businesses that sell ebooks, software, and online courses should consider processors that support instant payouts and frauddetection.
Consumer behaviour adds another layer of complexity to the fraud landscape. 45% of shoppers in the UK have admitted to return fraud or policy abuse, representing an estimated £22.8 billion in return-based fraud in 2022. The global frauddetection market was valued at £33.13 CAGR from 2025 to 2030.
Loan origination systems MeridianLink and Sync1 Systems selected AI-driven lending technology provider Zest AI to integrate its frauddetection tool Zest Protect last week.
Mastercards deployment of generative AI to fight fraud in 2024 has reduced false positives and enhanced frauddetection. The tool processes 143 billion transactions annually and uses generative AI to scan 1 trillion […] The post Mastercard taps gen AI for fraud prevention appeared first on Bank Automation News.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content