FICO

JUNE 20, 2018

In a recent blog post , I discussed how FICO is fighting application fraud by leveraging artificial intelligence (AI) and machine learning in fraud detection, including an overview of supervised, unsupervised, and adaptive analytics techniques and the need to balance transparency (explainable AI) with predictiveness.

Fraud Detection 55

Fraud Detection Identity Theft AI Best Practices 55

Fraud.net

MAY 30, 2024

Discover the complexities & challenges of fraud detection in banking. Learn actionable solutions to combat evolving threats in finance.

Fraud Detection 52

Fraud Detection Finance Identity Theft Verification 52

Fraud.net

MARCH 29, 2024

Discover advanced fraud detection systems used by banks and explore the solutions offered by Fraud.net for proactive fraud prevention.

Fraud Detection 52

Fraud Detection Fraud Prevention Identity Theft Account Takeovers 52

PYMNTS

DECEMBER 10, 2019

More than 446 million consumer records were exposed in data breaches in 2018, an increase of 126 percent compared to 2017, according to a 2018 Identity Theft Resource Center report. But even more worrisome, said Barnhardt, is how much better cybercriminals are getting at this type of fraud.

Fraud Detection 63

Fraud Detection Data Breach Identity Theft Social Security 63

PYMNTS

AUGUST 21, 2020

These machines can be vulnerable to fraud, however, ranging from physical techniques like card skimmers to digital methods like identity theft. Interactive teller machines (ITMs) offer a variety of services that are normally only available inside a physical branch, like loan applications and cash deposits. About The Tracker.

Blocks 106

Blocks Identity Theft ATM Online and Mobile Banking 106

Fi911

JULY 8, 2024

This type of fraud can take various forms, including identity theft, chargeback fraud, and phishing attacks. Furthermore, the growing sophistication of fraud techniques, including synthetic identity fraud and account takeovers, exacerbates the challenge.

Account Takeovers 105

Account Takeovers Fraud Detection Phishing Fraud Prevention 105

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 111

Verification Identity Theft Money Laundering Due Diligence 111

Segpay

FEBRUARY 21, 2024

Generative AI in Digital Payments: Enhanced Fraud Detection: Generative AI improves the security of digital payments by enhancing fraud detection mechanisms. This makes real-time detection and prevention possible. Fraud Detection Generative AI contributes to fraud detection and prevention in KYC processes.

AI 105

AI Innovation Fraud Detection Encryption 105

PYMNTS

JULY 9, 2020

Breaches like those experienced by Equifax in 2017 and Capital One in 2019 may have contributed to the high prevalence of identity thefts reported in 2019, with new data revealing that such attacks comprised 20.33 percent of all fraud reported in 2019.

Fraud Prevention 104

Fraud Prevention Account Takeovers Authentication Identity Theft 104

The Fintech Times

APRIL 15, 2024

Whilst this is still relatively novel compared to other applications of AI in embedded finance, it is a segment that will become more refined to deliver models capable of creating highly efficient fraud detection capabilities.” This means minimising false claims, identity theft and exaggerated/staged accidents.”

Embedded Finance 134

Embedded Finance AI Finance Assessments 134

The Payments Association

MARCH 14, 2025

These rules help prevent fraud, identity theft, and illicit transactions. 4) Payment approvals and restrictions Some MCCs are blocked or restricted by certain banks and payment processors due to high fraud risks or regulatory concerns. 5) Leverage Avoided.io

Risk 88

Risk Disputes Processors Fraud Detection 88

The Fintech Times

AUGUST 17, 2024

“In today’s highly competitive and digital-first world, the use of behavioural analytics is now vital for innovating for the future of fighting fraud.” Empowering businesses NeuroID’s behavioural analytics solutions are available through CrossCore on the Experian Ascend Technology Platform as a key fraud-detection capability.

Risk 59

Risk Bots Fraud Detection Identity Theft 59

Fi911

JANUARY 18, 2024

That said, here are some of the most common types of third-party fraud. To combat third-party fraud effectively, banks should take several proactive measures to protect both their customers and their own financial systems.

Account Takeovers 105

Account Takeovers MFA Fraud Detection Credit Cards 105

PYMNTS

SEPTEMBER 24, 2019

“By using stolen data to create fraudulent accounts on fintech platforms, cybercriminals are able to exploit the platforms’ integration with various financial services to initiate seemingly legitimate financial activity while creating a degree of separation from traditional fraud detection efforts,” he said.

Fincen 71

Fincen Account Takeovers Identity Theft Financial Crimes 71

FICO

NOVEMBER 30, 2017

In my previous post on application fraud, we explored the drivers behind the rapid acceleration of identity-based fraud , which includes identity theft / third-party fraud, synthetic identity fraud, and first-party fraud. Step 3 – Collaboration with Risk.

Risk 82

Risk Fraud Detection Assessments Origination 82

FICO

JANUARY 27, 2020

Identity Theft Demands Self-Advocacy. We all know that fraud can happen to you or your loved ones, but what we should we be doing to advocate and protect ourselves? My colleague, TJ Horan, recently blogged about his predictions regarding the very real threat of identity theft for consumers in 2020.

Financial Crimes 52

Financial Crimes Crime Identity Theft AML 52

Seon

JUNE 27, 2024

These advancements have changed the way we approach cybersecurity and fraud detection. Uncover Complex Fraud Patterns Continuously improve your fraud detection with proven AI insights. A-driven tools can analyze financial transactions, detect unusual patterns and facilitate money-laundering schemes.

Cybersecurity 52

Cybersecurity Fraud Detection Identity Theft Money Laundering 52

PYMNTS

FEBRUARY 18, 2020

Machine learning models, which cause minimal payment frictions and optimal fraud protections, could be deployed to effectively orchestrate complex authentication decisions as fraud becomes more sophisticated. Tracking The Payment Journey .

Authentication 52

Authentication Identity Theft Multifactor Authentication Fraud Prevention 52

Clearly Payments

JULY 16, 2024

Rank Industry Fraud Rate Most Common Fraud Type 1 Travel and Hospitality 3.2% Rank Industry Fraud Rate Most Common Fraud Type 1 Travel and Hospitality 3.2% Rank Industry Fraud Rate Most Common Fraud Type 1 Travel and Hospitality 3.2% In 2023, there were over 2.3

Risk 52

Risk Identity Theft Phishing Account Takeovers 52

Seon

SEPTEMBER 11, 2023

As neobanks evolve, the one downside of their innovation is that it opens up many new methods of attack for fraudsters, such as identity theft, fraud rings, and account takeover attacks. We know neobank risk teams must stay aware of evolving threats and take an active approach to closing those routes to fraud.

Identity Theft 52

Identity Theft Money Laundering Account Takeovers Fraud Prevention 52

Trade Credit & Liquidity Management

MARCH 27, 2025

an accounts receivable management technology provider, announced the integration of advanced fraud security and applicant verification capabilities into its credit application process. Bectran previously announced a partnership with GIACT, to enhance ACH fraud prevention.

Identity Theft 40

Identity Theft Fraud Prevention Fraud Detection Verification 40

Finovate

AUGUST 14, 2024

The addition of credential stuffing protection is the latest example of Alkami’s layered approach to fraud detection and prevention in digital banking. Data and technology company Experian is adding behavioral analytics to its fraud detection capabilities courtesy of a newly announced acquisition of NeuroID.

Credential 65

Credential FinTech Deepfake Fraud Detection 65

FICO

DECEMBER 11, 2018

And for more information on application fraud and how to fight it , check out the posts in my series. Trends in Application Fraud – From Identity Theft to First-Party Fraud. Best Practices in Establishing Your Fraud Risk Appetite. What Data Do I Need to Fight Application Fraud?

Social Security 49

Social Security Security Identity Theft Best Practices 49

Stax

AUGUST 22, 2024

Identity theft, data breaches, and chargeback fraud are some of the most common types of risks. This is why you need robust fraud detection mechanisms and ensure that they are up-to-date. We now have fraud detection systems that use machine learning and AI to identify and prevent fraud and cyberattacks.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

FICO

DECEMBER 3, 2018

If you liked this video, stay tuned for the final installment on synthetic identify fraud soon. And f or more information on application fraud and how to fight it , check out the posts in my series. Trends in Application Fraud – From Identity Theft to First-Party Fraud Best Practices in Establishing Your Fraud Risk Appetite.

Identity Theft 40

Identity Theft Best Practices Fraud Detection Social Security 40

Payments Source

SEPTEMBER 24, 2020

As many businesses and consumers have been forced to deal with the difficult conditions thrust upon them by the COVID-19 pandemic, so too have fraudsters needed to make adjustments just to continue their life of crime.

Crime 205

Crime Adjustments Payments Continuity 205

FICO

NOVEMBER 19, 2018

Auto lenders are being hit hard by synthetic identity fraud, particularly as synthetics are difficult to detect for customer service representatives when they present with a good credit history and falsified documentation such as driver’s licenses or forged paystubs. Best Practices in Establishing Your Fraud Risk Appetite.

Identity Theft 45

Identity Theft Best Practices Fraud Detection AI 45

PYMNTS

JANUARY 16, 2020

The platform now offers real-time authentication, as well as fraud detection tools that examine voice and other biometric factors. A Multi-Layered Fraud Approach Critical To Consumer Data Protection. For more on this and other stories, visit the Playbook’s News & Trends section.

AI 53

AI Identity Theft Authentication Account Takeovers 53

PYMNTS

AUGUST 24, 2020

ATMs and ITMs face a range of security threats, however, from smash-and-grab schemes for stealing physical money to identity theft techniques that trick machines into accessing accounts. Keeping them secure comes down to a combination of physical security measures and digital fraud detection platforms.

Credit Union 61

Credit Union ATM Identity Theft Security 61

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. Worldwide e-commerce fraud is increasing, with enterprise losses from online payment fraud expected to exceed $362 billion between 2023 to 2028.

Fraud Prevention 52

Fraud Prevention Fraud Detection Identity Theft Cybersecurity 52

PYMNTS

JUNE 13, 2019

Old manual detection techniques like analyzing geolocations, IP addresses and discrepancies between billing and shipping addresses aren’t able to catch high-level attacks, and often result in false positives. These are patterns that would not be visible to the naked eye.”.

AI 44

AI Account Takeovers Fraud Detection Online and Mobile Banking 44

The Payments Association

OCTOBER 4, 2024

Security concerns and fraud prevention One of the most significant challenges is the persistent threat of fraud. Cybercriminals are constantly innovating, targeting vulnerabilities in payment systems to carry out unauthorised transactions, identity theft, and data breaches.

Online and Mobile Banking 88

Online and Mobile Banking Cross-Border Payments Cross-Border Alternative Payment Methods 88

Finovate

APRIL 11, 2024

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.

Checks 59

Checks Remote Deposit Capture Counterfeit Check Identity Theft 59

Clearly Payments

JANUARY 8, 2024

Here are some key types of risks that merchants should be mindful of in payment processing: Fraud Risk: Fraud risk involves unauthorized or deceptive activities aimed at exploiting the payment system for financial gain. This can include stolen credit card information, identity theft, or fraudulent transactions.

Risk Management 97

Risk Management Risk PCI DSS Process 97

FICO

JULY 13, 2020

Yes, synthetic identities, even those based on young children’s identity information , are widely used to fraudulently finance vehicles. But stolen identities, not so much. Identity theft victims typically become aware of and report this crime quickly, due to highly available credit-watch apps such as myFICO.

Finance 52

Finance Fraud Detection Crime Identity Theft 52

PYMNTS

JANUARY 9, 2019

As they craft their omnichannel strategies, most luxury retailers are using a variety of fraud detection programs to counteract increasingly devious methods. With our current fraud detection system, we are utilizing device fingerprinting,” Ciborowski said. “The

Fraud Detection 43

Fraud Detection Data Breach Account Takeovers Breach 43

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 52

Best Practices Governance Government Fraud Prevention 52