The Payments Association

JANUARY 13, 2025

Stronger fraud detection and better industry collaboration are needed to protect consumers The Payment Systems Regulator’s (PSR) findings in its December’s Unmasking how fraudsters target UK consumers in the digital age report reveal a stark picture of the growing threat posed by authorised push payment (APP) scams.

Scams 88

Scams Romance Scams Phishing Volume 88

PYMNTS

JULY 25, 2019

billion people send around 269 billion emails every single day – this type of online communication is vulnerable to phishing attacks. Recent research indicates 30 percent of targeted attempts are made via phishing emails, and that 15 percent of victims are repeat targets. Humans as Weak Links. Removing Humans from the Equation.

Phishing 69

Phishing Fraud Detection Automation Ransomware 69

Fintech Review

APRIL 20, 2025

In the financial sector, it includes fraud detection, threat intelligence, data encryption, biometric verification, and risk monitoring. The risks range from phishing and account takeovers to ransomware and insider threats. What Is Cybertech? Why Finance Needs It Financial institutions are frequent targets for cybercrime.

Finance 59

Finance Security Fraud Detection Encryption 59

Neopay

JANUARY 22, 2025

Impersonation fraud: Voice cloning technology allows scammers to convincingly impersonate family members, colleagues, or business executives. Phishing attacks: AI-generated content enables fraudsters to create highly personalised and convincing phishing emails that bypass traditional detection methods.

AI 59

AI Deepfake Phishing Audit 59

Fi911

JULY 8, 2024

This type of fraud can take various forms, including identity theft, chargeback fraud, and phishing attacks. How Big of a Problem is eCommerce Fraud? This makes it imperative for businesses to stay ahead with robust fraud detection and prevention strategies.

Account Takeovers 105

Account Takeovers Fraud Detection Phishing Fraud Prevention 105

PYMNTS

MAY 22, 2020

Banks must instead leverage multilayered defenses that harness employee and customer education, ironclad verification and artificial intelligence (AI)-enhanced fraud detection systems to keep customers’ money and personal data safe. People are one click away from a malware download or credential phishing [website].

Fraud Prevention 74

Fraud Prevention Financial Crimes Federal Trade Commission Crime 74

PYMNTS

JULY 9, 2020

Fraudsters have only upped their efforts during the pandemic, with phishing attacks alone increasing 667 percent between late February and late March. The July FI Fraud Decisioning Playbook examines how FIs are working to better detect and defend against ATOs. Read the full story in the Playbook.

Fraud Prevention 104

Fraud Prevention Account Takeovers Authentication Identity Theft 104

Seon

MAY 23, 2024

across age groups and income brackets, the volume of digital activities and transactions are on the rise – and effective fraud prevention measures have never been more critical to safeguard a business’s bottom line. The global market for fraud detection and prevention solutions is expected to reach over $50 billion this year.

Fraud Prevention 52

Fraud Prevention Deepfake Fraud Detection Authentication 52

PYMNTS

JULY 2, 2020

But the bad news is that fraudsters see a once-in-a-lifetime opportunity to jump into the increased flow of transactions, Gary Sevounts , executive at fraud detection firm Kount , told PYMNTS in a recent conversation. He added that fraudsters have been showing up across the board in terms of fraud types attempted.

Transactions 112

Transactions Account Takeovers Push-to-Card Fraud Prevention 112

The Payments Association

OCTOBER 14, 2024

The Payment Systems Regulator’s decision to lower the cap for APP fraud reimbursements to £85,000. It affects how victims of fraud are compensated and how payment service providers (PSPs) approach fraud prevention. Why is it important? What’s next? However, the decision has sparked debate.

Caps 88

Caps Fraud Prevention Fraud Detection Scams 88

The Payments Association

MAY 7, 2025

This article explores the top 5 fraud trends impacting high-risk merchants in 2025 and how innovative solutions like avoided.io can safeguard your business with real-time chargeback prevention and fraud management. helps: Near real-time fraud detection: By leveraging combined alerts from Ethoca and Verifi, avoided.io

Risk 88

Risk Disputes Debit Card Cross-Border 88

The Payments Association

OCTOBER 22, 2024

According to the Payment Systems Regulator (PSR) , the volume of APP fraud cases rose by 12% last year. This increase was driven by fraudsters leveraging sophisticated techniques, such as fraud networks, phishing scams and AI-generated deepfakes, to trick victims into authorising payments.

Rules 88

Rules Fraud Prevention Caps Deepfake 88

FICO

FEBRUARY 23, 2022

A simple phish or smish can turn into a nightmare for a consumer whose guard is down and is using their preferred communication method (text or email) to respond to a legitimate-looking message. At FICO, we’ve been committed to fighting fraud for more than 30 years, and we’re continually innovating to combat evolving schemes.

Scams 98

Scams Fraud Detection Smishing Fraud Prevention 98

Neopay

FEBRUARY 27, 2025

The study, which surveyed over 1,200 financial and payment sector professionals across seven European countries, found that account takeover remains the leading type of fraud affecting customers, followed by card payment fraud and phishing. The Lag in Fraud Detection: Are You Prepared?

Deepfake 52

Deepfake Fraud Detection Account Takeovers Fraud Prevention 52

The Fintech Times

AUGUST 13, 2024

Latin America also saw a staggering 617 per cent increase in phishing attacks in 2023, with cyber criminals using AI to craft more realistic and targeted phishing emails. Brazil and Mexico were the most affected, recording millions of phishing attempts aimed at stealing financial data and credentials.

AI 59

AI Fraud Detection Fraud Prevention Phishing 59

PYMNTS

MAY 5, 2020

The good news, Pangretic added, is that consumers and businesses are getting better at detecting fraudsters trying to ply their trade across mobile and online transactions. This can really create a proactive communications strategy to significantly decrease the incidence of successful fraud attempts,” said Pangretic.

Fraud Detection 78

Fraud Detection Online and Mobile Banking Scams Issuers 78

Fintech Finance

APRIL 15, 2025

Action Fraud has launched its campaign ahead of the summer with key music events lined up, urging people to stay alert for criminals who are trying to sell tickets online for top events and sold-out concerts. The post Ecommpay Urges Merchants to Adopt Modern Mindsets as Ticket Fraud Soars appeared first on FF News | Fintech Finance.

Fraud Prevention 59

Fraud Prevention Fraud Detection Phishing Disputes 59

PYMNTS

MAY 25, 2020

Phishing attacks are some of the most common scams. Lori Hodges, vice president of risk in North America for Visa, has said even fraud prevention professionals have let their guards down. Banks will need to step up their fraud prevention measures to curb fraud growth during the pandemic.

Financial Crimes 67

Financial Crimes Crime Scams Fraud Prevention 67

Seon

JANUARY 29, 2024

There are many paths to successful ATO fraud. This could be accidental, or more sophisticated, for example following a mass phishing email campaign. To target these accounts, fraudsters often rely on spear-phishing techniques (targeted phishing), or SIM-Swapping attacks.

Account Takeovers 52

Account Takeovers Accounts Fraud Prevention Phishing 52

FICO

SEPTEMBER 21, 2016

For instance, data released by Financial Fraud Action UK , shows that UK online banking fraud losses increased by 38% in 2014 from 2013, and by 64% in 2015 from 2014. The rapid growth of fraud losses calls for an effective e-payments fraud prevention solution and one that can adapt to varying fraud patterns.

Payer 64

Payer Payee Fraud Detection Payments 64

PYMNTS

MAY 6, 2020

FIs must thus reconsider how they employ AI to protect against new account fraud or high-risk transactions. is one FI using AI and deep learning to detect phishing, malware and trojan software, tactics upon which fraudsters rely to collect more sensitive information once they gain entry into banking systems. percent and 5.8

Fraud Prevention 72

Fraud Prevention Money Laundering AI Identity Theft 72

Fintech Review

DECEMBER 3, 2024

Businesses also faced logistical challenges, including cash handling and fraud prevention. Phishing attacks and malware remain prevalent, undermining consumer confidence. AI-powered fraud detection systems analyse patterns to identify suspicious activity in real time.

Payment Solutions 97

Payment Solutions Payments Contactless Payments Online and Mobile Banking 97

Seon

JUNE 7, 2024

As a result, organizations face large volumes of fraudulent data, necessitating heightened vigilance and advanced detection methods to protect themselves – and their customers or users. Other AI applications include enhancements to traditional scams, such as phishing and social engineering attacks.

AI 52

AI Innovation Fraud Prevention Fraud Detection 52

Fintech Finance

MARCH 18, 2024

Equifax and VTEX , the composable and complete commerce platform for premier B2C and B2B brands, join forces to help fortify fraud prevention capabilities for merchants across the globe. ” The partnership aligns with the rising demand for robust fraud prevention measures globally in the e-commerce landscape.

Fraud Prevention 52

Fraud Prevention Fraud Detection Identity Theft Cybersecurity 52

Seon

SEPTEMBER 11, 2023

We know neobank risk teams must stay aware of evolving threats and take an active approach to closing those routes to fraud. This is why, in this article, we examine the five most common types of fraud in neobanking and how to protect against them – no matter how mature your approach to fraud prevention is.

Identity Theft 52

Identity Theft Money Laundering Account Takeovers Fraud Prevention 52

Nanonets

MAY 31, 2023

Phishing Attacks: Fraudsters send deceptive emails or messages, often mimicking reputable organizations, to trick employees or customers into revealing their payment details. In 2021, a staggering 323,972 internet users worldwide became victims of phishing attacks, indicating that half of the cybercrime victims fell prey to this method.

Fraud Detection 52

Fraud Detection Payments Audit Fraud Prevention 52

Seon

MAY 8, 2024

Account Takeover Prevention Device intelligence is a robust defense mechanism against unauthorized access by identifying unfamiliar devices or browsers attempting to log in. This is where you can integrate residential proxy detection to bolster bot attack mitigation.

Online and Mobile Banking 52

Online and Mobile Banking Fraud Prevention Account Takeovers Bots 52

Clearly Payments

JULY 16, 2024

Fraud Rate by Industry in 2023 Credit card fraud is a pervasive issue impacting various industries, each with unique vulnerabilities and estimated fraud rates. Rank Industry Fraud Rate Most Common Fraud Type 1 Travel and Hospitality 3.2% ATO fraud increased by 72% in 2023, with losses totaling $11.4

Risk 52

Risk Identity Theft Phishing Account Takeovers 52

FICO

FEBRUARY 23, 2022

A simple phish or smish can turn into a nightmare for a consumer whose guard is down and is using their preferred communication method (text or email) to respond to a legitimate-looking message. At FICO, we’ve been committed to fighting fraud for more than 30 years, and we’re continually innovating to combat evolving schemes.

Scams 52

Scams Consumer Fraud Detection Smishing 52

PYMNTS

NOVEMBER 4, 2019

In the company’s ongoing efforts to prevent fraud on its site, Amazon announced a new program, Intellectual Property Accelerator, last month to help sellers make sure their products won’t be copied or counterfeited. According to a new LexisNexis study , overall retail fraud attempts doubled year-over-year and tripled since 2017.

Online and Mobile Banking 49

Online and Mobile Banking Cross-Border Federal Trade Commission Fraud Prevention 49

Segpay

MARCH 10, 2025

Evaluate transaction fees, chargeback policies, and currency conversion rates to prevent unexpected expenses and optimize revenue retention. Security & Fraud Prevention Given the high-risk nature of online gaming, security is non-negotiable. Implement real-time fraud detection and chargeback management to enhance security.

Payment Gateways 40

Payment Gateways Gateways Payment Solutions Payment APIs and Integration 40

PYMNTS

DECEMBER 26, 2019

Companies are getting much better at fraud detection and prevention, partly in response to its rapid spread. It’s all in the latest PYMNTS Fraud Decisioning Playbook. War against digital fraud uses live ammo or, in some cases, recently live. Digital fraudsters aren’t taking this lightly. Fighting Fakes With Fire.

Fraud Detection 52

Fraud Detection Bots Law Enforcement AI 52

Trade Credit & Liquidity Management

MARCH 11, 2025

The extensive supply chains and large inventories typical of this sector create opportunities for deception, often making it hard to detect irregularities. Technology Industry: Rapid innovation and the ever-evolving digital landscape expose companies to risks such as intellectual property theft, cyber fraud, and phishing scams.

Due Diligence 40

Due Diligence Fraud Prevention Phishing Identity Theft 40

Seon

JULY 27, 2023

New fraud risks: New technology gives rise to new vehicles for attack, and FedNow’s systems will be no different. In fact, phishing attacks may become even more prevalent as FedNow rises in popularity. Revise your fraud prevention strategy. How Will FedNow’s Instant Payments Impact Fraud Detection?

FedNow 40

FedNow Federal Reserve ISO 20022 Fraud Detection 40

Seon

APRIL 18, 2024

And since fraud victims unwittingly initiate the transactions themselves, traditional fraud prevention measures aren’t designed to intercept self-authorized transactions, rendering a significant gap in current defenses. This obscurity can impede the ability to fine-tune or understand the basis of certain fraud alerts.

Authorization 52

Authorization Technology Fraud Prevention Real Time Payments 52

PYMNTS

DECEMBER 26, 2019

Thwarting fraud in one area is not enough to prevent it from cropping up elsewhere, and businesses are essentially playing whack-a-mole as fraudsters’ attacks move across channels. Digital fraud rose 30 percent in Q3 2019, with one out of every five new accounts revealed to be illegitimate.

Online and Mobile Banking 52

Online and Mobile Banking Fraud Detection Data Breach Phishing 52

Seon

JUNE 21, 2023

Like any online account, virtual credit card accounts, the mobile wallets they are kept in, and even the online bank accounts they may be connected to are vulnerable to account takeover (ATO) fraud , phishing, and more sophisticated attacks, such as man-in-the-middle attacks. How Can Virtual Credit Card Fraud Affect Your Business?

Credit Cards 52

Credit Cards Risk Online and Mobile Banking Phishing 52