Remove Fraud Detection Remove Fraud Prevention Remove Mitigation
article thumbnail

HPS and Enigma Join Forces to Revolutionise Fraud Detection With AI

Fintech Finance

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 fraud detection models to businesses worldwide.

article thumbnail

Justt and Ravelin Partner to Strengthen AI-Powered Fraud Prevention and Chargeback Management Across Key Sectors

Fintech Finance

Justt , a leader in AI-powered chargeback mitigation, today announced a strategic partnership with Ravelin , a global provider of AI-native fraud detection and prevention solutions. According to the Ravelin Fraud and Payments Survey 2024 , 52.4% According to the Ravelin Fraud and Payments Survey 2024 , 52.4%

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Economic Crime and Corporate Transparency Act examined: A guide to avoiding failure-to-prevent fraud measures

The Payments Association

The Economic Crime and Corporate Transparency Act 2023, specifically the “failure-to-prevent fraud” offence, and outlines how businesses can mitigate fraud risks. Compliance requires proactive fraud risk assessment, the implementation of preventive procedures, and a culture of accountability.

Crime 88
article thumbnail

Fraud unveiled: Key takeaways from merchant roundtable discussion

The Payments Association

A roundtable discussion among merchants addressing the evolving challenges of fraud in their operations across various sectors. It highlights the necessity of advanced fraud detection and greater industry collaboration. Improving regulations, using technology for detection, and fostering industry-wide cooperation.

article thumbnail

Navigating the rise of AI-enabled fraud

The Payments Association

Fraudsters are continuously finding new sophisticated ways of leveraging AI to carry out cyber threats, with traditional fraud prevention methods, which rely on fixed rules and human intervention, being no longer sufficient to detect and mitigate the complex and evolving tactics used by fraudsters.

AI 88
article thumbnail

Leveraging Machine Learning to Reinforce Financial Fraud Prevention

Fi911

In finance, AI’s role is becoming increasingly pivotal, particularly in fraud prevention and management. As digital banking services grow in popularity, the unfortunate byproduct is a corresponding rise in fraud. As integral players in the payment ecosystem, banks must focus on chargeback prevention and mitigation.

article thumbnail

Scrapping the £100 Contactless Limit: What It Means for Consumers, Merchants and Security

The Fintech Times

As well as bank cards, an increasing number of people are using smartphones and watches to make contactless payments Having a contactless limit is important in terms of fraud prevention, but we believe overall limits and the number of times a customer needs to enter a PIN should be determined by industry rather than the regulator.