The Payments Association

JANUARY 3, 2025

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.

Fraud Detection 88

Fraud Detection Fraud Prevention Participant Financial Crimes 88

Finovate

MARCH 19, 2025

The integration of Sumsub’s compliance solutions will help financial institutions deal with the growing threat of fraud and financial crime. This includes a global, fourfold increase in AI-driven deepfake scams. This will enable them to onboard customers faster and comply with international KYC/AML regulations.

Fraud Prevention 96

Fraud Prevention Fraud Detection Payment APIs and Integration Verification 96

Fintech News

APRIL 7, 2024

In the contemporary digital world, the proliferation of deepfake technology and generative AI heralds an era fraught with online scam challenges, notably within the financial sector in Asia. Economic Ramifications of Deepfake Scams The global impact of impersonation scams can be far-reaching, and expensive.

Deepfake 134

Deepfake Scams Fraud Detection Verification 134

FICO

FEBRUARY 23, 2022

New data suggest that people are concerned about fraud, but one of the biggest threats seems to be flying under the radar, at least for consumers. That threat is fraud scams – tactics and techniques that fraudsters are using to trick people into giving away their money. Preferred Communications Channels are Susceptible to Fraud.

Scams 98

Scams Fraud Detection Smishing Fraud Prevention 98

Fintech Finance

NOVEMBER 20, 2024

Authorized push payment (APP) scam losses are on the rise, expected to climb to $7.6 This trust-based manipulation makes APP scams particularly challenging to detect as the transaction appears legitimate and bypasses traditional fraud detection systems and controls.

Scams 97

Scams Real Time Payments Fraud Prevention Fraud Detection 97

The Payments Association

APRIL 8, 2025

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.

Fraud Detection 88

Fraud Detection Fraud Prevention Scams Participant 88

The Fintech Times

MARCH 31, 2025

It found that fraud poses a substantial threat to Europe’s financial industry, with an estimated $103.6billion in losses resulting from various scams and bank fraud scenarios.

Cross-Border 64

Cross-Border Addressing Financial Crimes Elder Abuse 64

The Payments Association

JANUARY 21, 2025

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 fraud detection, and the continued digitalisation of payment platforms.

Payments Trends 88

Payments Trends Financial Crimes Cross-Border Payments 88

The Fintech Times

FEBRUARY 14, 2025

As a result, a full 30 per cent of identity fraud attacks targeted social media in Q4, compared to a mere three per cent in Q1. Enhanced selfie and fraud detection tools are necessary to protect social media engagement, ensure account authenticity, and prevent the risks posed by fake accounts.

Deepfake 78

Deepfake APACS Law Enforcement Fraud Detection 78

The Fintech Times

FEBRUARY 17, 2025

Plus, we dive into cybersecurity challenges, proactive AI governance, and the evolving risks of AI-driven scams. Could handing more control to AI mean less human oversight in critical decisions, or even open the door to new risks in fraud detection and compliance? Happy reading! These are the challenges that cant be ignored.

FinTech 59

FinTech Romance Scams Scams AI 59

The Fintech Times

JULY 29, 2024

Lynx Tech , the fintech specialising in AI-driven fraud detection, is scaling its solutions across the UK and European markets as it has identified NTT Data , the business and tech services provider, as the perfect partner to take the business forward. This will mandate banks and payment service providers to reimburse scam victims. “We

Fraud Detection 59

Fraud Detection Fraud Prevention Scams Regulations 59

The Payments Association

MAY 13, 2025

To many, that makes APP scams seem unsolvable. Most of these scams dont begin with a phone call; they begin long before, with reconnaissance, setup, and signals that can be detected in the session or across prior ones. APP fraud persuades, it doesnt breach In todays scams, criminals no longer force their way in.

Scams 88

Scams Fraud Detection Deepfake Phishing 88

BioCatch

OCTOBER 16, 2024

Of all the risks that financial institutions (FIs) are managing today, none rely more on the intuition and efforts of an actual human being than that of scams. Which is why it is no wonder that banks and credit unions have resisted taking on liability for scams affecting their customers and members.

Scams 59

Scams Fraud Detection Credit Union Financial Crimes 59

The Fintech Times

JUNE 1, 2024

To find out how efforts of pitting AI against AI are taking shape, and how this could evolve in the future, we take a look at some of the latest anti-fraud approaches utilising AI. Kate Frankish, chief business development officer and anti-fraud lead at Pay.UK This would equate to over £112million worth of fraud detected annually.

SWIFT 124

SWIFT AI Fraud Detection Fraud Prevention 124

Payments Source

MARCH 11, 2020

Financial institutions need to alert customers about emails or websites that pretend to offer important COVID-19 information but instead could end up stealing their account numbers or logins.

Scams 127

Scams Accounts Fraud Detection Phishing 127

Fintech Finance

MAY 30, 2024

Pay.UK , the independent, not-for-profit operator of the UK’s national retail payments system including Faster Payments, Bacs and Direct Debit, can today announce the results of its pioneering fraud detection and prevention pilot in collaboration with partners Visa , Synectics Solutions and Featurespace.

Fraud Detection 52

Fraud Detection Overlay Service Crime Scams 52

Fintech Finance

NOVEMBER 5, 2024

GSMA and UK Finance have joined forces to provide a collaborative framework for the UK’s leading mobile network operators and banks to develop and launch Scam Signal, a new solution to help address Authorised Push Payment (APP) fraud in the UK. million was lost to APP fraud in the first half of 2024.

Online and Mobile Banking 98

Online and Mobile Banking Scams Fraud Detection API 98

Neopay

JANUARY 22, 2025

According to a recent report by the National Crime Agency (NCA), GenAI represents one of the most substantial threats to the fraud landscape today. Fraudsters are exploiting GenAI tools such as large language models (LLMs), voice cloning, and deepfakes to carry out increasingly sophisticated scams that are harder to detect and prevent.

AI 59

AI Deepfake Phishing Audit 59

Fintech News

NOVEMBER 6, 2024

The integration of ADVANCE.AI’s technology provides features such as real-time identity verification, fraud detection, and risk assessments, which help financial institutions meet regulatory demands securely. These tools are also intended to reduce the risk of fraud and scams.

Compliance 106

Compliance Payment APIs and Integration Fraud Detection Risk Assessment 106

The Fintech Times

JULY 19, 2024

Develop AI platforms for industry-wide use cases : Encourage collaboration on industry-wide issues, such as scam and fraud detection, by developing secure frameworks and platforms for data exchange. These centres will focus on AI model building, training, deployment, governance, risk management, and monitoring.

AI 129

AI Fraud Detection Use Case Scams 129

The Payments Association

MAY 7, 2025

As we navigate through 2025, high-risk merchants face a rapidly evolving fraud landscape. From AI-driven scams to rising chargeback rates, the challenges are growing more complex and costly. billion to chargebacks, a figure projected to rise as fraud tactics become more sophisticated. In 2024 alone, businesses lost $8.9

Risk 88

Risk Disputes Debit Card Cross-Border 88

The Fintech Times

NOVEMBER 5, 2024

The new solution, dubbed Scam Signal, will enable banks to better identify and stop fraudulent bank transfers by analysing real-time network data and identifying correlations between phone calls and fraudulent bank transfers.

Scams 59

Scams Fraud Detection Origination Finance 59

PYMNTS

JUNE 11, 2020

Fraud detection software platform NS8 has closed a Series A funding round for $123 million, led by Lightspeed Venture Partners , a press release states. The software utilizes real-time data analytics and real-time scoring to help merchants snuff out fraud and deliver seamless transactions, the press release says.

Fraud Detection 60

Fraud Detection Fraud Prevention Bots Advisors 60

Fintech News

NOVEMBER 6, 2024

In deploying AI in merchant services, enhanced fraud detection and prevention against new scamming schemes like deepfaking is as important, if not more important, as increasing operational efficiency.”

Cross-Border 109

Cross-Border AI Deepfake Transactions 109

FICO

MAY 9, 2023

Home Blog Feed test How Guided AI Helps FICO Detect 59% More Scams in the UK Guided AI is akin to the nervous system in the Corpus AI Thu, 05/04/2023 - 04:33 JenniferPiccinino@fico.com by Scott Zoldi Chief Analytics Officer expand_less Back to top Tue, 05/09/2023 - 20:25 The problems we use machine learning (ML) to solve are often multi-faceted.

Scams 52

Scams AI Fraud Detection Romance Scams 52

FICO

FEBRUARY 23, 2022

New data suggest that people are concerned about fraud, but one of the biggest threats seems to be flying under the radar, at least for consumers. That threat is fraud scams – tactics and techniques that fraudsters are using to trick people into giving away their money. Preferred Communications Channels are Susceptible to Fraud.

Scams 52

Scams Consumer Fraud Detection Smishing 52

FICO

MAY 3, 2023

In the 2023 FICO Global Scams Survey , we asked consumers worldwide what they think banks could do better to combat scams and create a better customer experience for victims. Their top five responses provide a blueprint of customer-friendly steps banks can take to counter RTP scams and improve customer experiences when scams occur.

Scams 10

Scams RTP Fraud Detection Real Time Payments 10

Bank Automation

FEBRUARY 8, 2024

Industrywide, financial institutions are seeing an uptick in synthetic identities, scam activity and check fraud even as digital channel adoption grows. In fact, check fraud is expected to reach $24 billion in 2024, according to a Jan. As consumers lean into […]

Checks 78

Checks Fraud Detection Scams AI 78

Fintech News

JULY 18, 2024

For example, MAS has identified scam and fraud detection as a use case for the first pilot project, and will work with banks, technology solution providers, and public agencies on this. The funding will support projects that accelerate the development of industry-wide AI solutions and high-impact use cases.

AI 120

AI Use Case Fraud Detection Scams 120

Fintech Finance

MARCH 4, 2025

However, regulators have been expanding accountability beyond financial institutions to the digital channels used in fraud scams, such as telecommunications and social media. An AI Arms Race The emergence of AI has added a new dimension to this battle, with both scammers and fraud prevention efforts leveraging advanced technologies.

Fraud Prevention 52

Fraud Prevention Deepfake Scams Fraud Detection 52

Fintech Finance

MAY 30, 2024

In a groundbreaking pilot in partnership with Pay.UK , Visa , a world leader in digital payments, has shown how leveraging the latest AI technology has the potential to drastically cut the £600m1 lost annually to account-to-account scams and fraud over recent years in the UK.

Scams 52

Scams Faster Payments Fraud Detection AI 52

FICO

APRIL 26, 2023

Home Blog FICO Survey: Do Customers Think Banks Are Fair to Scam Victims? According to the Australian Competition and Consumer Commission’s Scamwatch , for example, more than 57,000 scams were reported in the first two months of 2023 alone. Are Banks Fair with Victims of Scams? So what happens when customers are dissatisfied?

Scams 52

Scams RTP Push-to-Card Fraud Detection 52

The Paypers

APRIL 18, 2025

Ecommpay urges merchants to adopt modern and improved fraud prevention and detection technologies due to increased ticked scams.

Scams 36

Scams Fraud Detection Fraud Prevention Technology 36

The Payments Association

DECEMBER 18, 2024

By leveraging the vast amounts of data available, AI can identify trends and scams more effectively than ever before, he explains. Beyond fraud detection, Moore points to broader efficiency gains that could result from better data utilisation. One area where this collaboration is particularly vital is combating financial crime.

Innovation 88

Innovation Financial Crimes Payments Regulations 88

FICO

MAY 20, 2021

I’m very pleased to announce the release of the FICO® Falcon® Fraud Manager Retail Banking Consumer v3.0 model, which adds a Scam Detection Score to Falcon’s existing third-party fraud detection score for retail banking transfers. The Rise of Scams. APP scams are not just a major problem in the UK.

Scams 52

Scams Financial Crimes Non-Bank Crime 52

Fintech Finance

NOVEMBER 13, 2024

Essentially, APP fraud is any type of fraud that uses an Authorised Push Payment – whenever a person is tricked into voluntarily sending a payment to another person. It is estimated that criminals stole £580 million in the first half of 2023, a staggering figure that is likely to grow more each year.

Cross-Border Payments 98

Cross-Border Payments Cross-Border Law Enforcement Romance Scams 98

The Paypers

MAY 27, 2025

Several Argentinian banks and fintechs such as Banco Galicia and Santander Argentina have joined a new real-time intelligence-sharing network designed to combat financial fraud and scams.

Fraud Detection 36

Fraud Detection Scams FinTech 36