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Visa announced that its fraudprevention system blocked nearly 85% more suspected fraudulent transactions globally this Cyber Monday compared to the same day last year. Featured image credit: Edited from Freepik The post Visa Ramps Up AI-Powered FraudPrevention During Holiday Shopping Globally appeared first on Fintech Singapore.
Trustfull , a leader in Identity Intelligence for fraudprevention, is proud to announce a strategic partnership with Scalapay , a premier European buy-now-pay-later (BNPL) provider. This empowers fraud teams to detect synthetic identities and preventfraud while maintaining a seamless user experience.
But, did you know it can also be used to help stop card-not-present fraud? Geolocation & FraudPrevention Geolocation helps preventfraud by verifying the location of a user or device during transactions, especially in card-not-present scenarios. Can Geolocation Technology Be Spoofed?
Traditional fraudprevention methods are struggling to keep up with the sheer scale and speed of today’s changing threat landscape. Synthetic identity fraud now ranks among the top five threats keeping fraud teams up at night, particularly in mobile-first, high-growth markets like Southeast Asia.
Operating across more than 40 countries and processing over 100 million transactions annually, Vesta has been at the forefront of digital fraudprevention for nearly three decades, ensuring seamless and secure online payments. “For millions of creators, seamless and secure payments are the backbone of their businesses.
The collaboration will help banks, fintechs, and financial institutions enhance fraudprevention without compromising the user experience. The integration of Sumsub’s compliance solutions will help financial institutions deal with the growing threat of fraud and financial crime. The company was founded in 2019.
The latest addition to this network is Forter, a global leader in AI-powered fraudprevention, who joins Paydock in transforming fraud detection and prevention for online businesses. By automating fraud detection, businesses can eliminate manual reviews, accelerating fulfilment and providing a smooth customer experience.
Merchants can track and manage disputes, access detailed analytics to identify trends, and receive actionable insights to improve fraudprevention strategies. Comprehensive chargeback management: By combining all these features into a single platform, Avoided.io provides businesses with a holistic view of their chargeback activity.
Instant payments and fraudprevention have quickly become the areas fintechs need to focus on most, according to the third portion of the ‘2024 Payment State of the Union’ study by Discover Global Network , the global payment network.
We’re excited to share that Lynx has won the Anti-Fraud Solution of the Year award at the 2025 FSTech Awards, a celebration of financial services innovation in the UK and EMEA. Financial institutions (FIs) grapple with complex, interconnected fraud and financial crime challenges.
Financial data network Plaid has been in the fintech headlines of late for its new partnership with data and technology company Experian , and for the launch of its Plaid Protect fraudprevention solution.
Sumsub has launched Sumsub Academy, an educational initiative aimed at empowering professionals in compliance, risk, and fraudprevention. The post Sumsub Academy Launched, Providing Expert-Led FraudPrevention Courses appeared first on Fintech Singapore. The launch of Sumsub Academy comes at a crucial time.
Worldpay , a global industry leader in payments technology and solutions, today announced it has entered into a definitive agreement to acquire Ravelin , an AI-native fraudprevention platform headquartered in London, UK. KeyBanc Capital Markets served as exclusive financial advisor to Ravelin.
The acquisition also allows Chainalysis to support government agencies and financial institutions in detecting fraud trends and identifying early signs of suspicious activity on fiat payment systems.
Selling products and services internationally means facing new challenges, especially regarding payment processing, regulatory requirements, currency exchanges, and fraudprevention. FraudPrevention and Security Cross-border transactions have higher fraud risks than domestic payments.
About 52% of businesses reported a rise in fraud attempts over the past year, with 60% observing an increase in fraudulent activities during peak shopping seasons. A significant 62% of businesses are using AI-driven fraudprevention technologies to enhance security. Photo taken from Adyen Index: Retail Report 2024.
GAV is designed to combat Authorised Push Payment (APP) fraud, where fraudsters impersonate banks or trusted entities to deceive victims into transferring money. The expansion comes as regulators tighten rules on fraudprevention and reimbursements.
Featurespaces advanced fraud detection and risk-scoring capabilities will be integrated into Visas existing portfolio of fraudprevention solutions. This integration will enable real-time detection of sophisticated fraud attacks while maintaining a seamless user experience.
From a Press Release dated July 2, 2025, Reston, VA Eftsure, a global leader in payment fraudprevention, has been named a Nacha Preferred Partner, joining a select group of technology providers recognized for advancing the ACH Network.
However, it also holds potential for building security and adaptability in defenses: 60% have adapted AI/ML in fraudprevention, while another 25% plan to do so in the coming months.
This will bolster Visas fraud protection capabilities and enhance security for its customers and consumers worldwide. Visa will add Featurespaces capabilities into its range of fraudprevention and risk-scoring offerings. The Featurespace business will become part of Visas Risk and Identity Solutions business unit.
On 7 October, new mandatory reimbursement rules came into effect, making it quicker and simpler for victims of APP fraud to get back money they’ve lost to criminals, with a guaranteed minimum level of protection in place. These rules also incentivise payment firms to innovate and implement stronger fraudprevention methods.
Questions address both immediate challenges (fraudprevention, regulatory compliance, technology readiness) and forward-looking opportunities (AI implementation, collaborative defence strategies, regulatory evolution). Coupled with a culture of innovation and trust, this drives effective, customer-centred fraudprevention."
It shows that forward-thinking merchants using diverse, strategic payment solutions gain clear advantages in cost control, fraudprevention, and customer experience. 29% of businesses find fraudprevention extremely challenging—making it the most severe concern across all payment-related issues. Why is it important?
As digital payments evolve, AI is reshaping fraudprevention with real-time insights, adaptive controls, and improved security across financial systems. A new approach to fighting fraud Regarding fraudprevention, simple rule-based systems arent enough anymore. Whats needed is a more dynamic, joined-up approach.
Shared knowledge enables rapid responses to new fraud trends, ensuring the system remains effective against evolving threats. As more institutions participate, the system’s effectiveness increases, creating a powerful network effect that strengthens fraudprevention for everyone involved.
Additionally, Checkout.com’s robust fraudprevention measures and secure payment protocols will ensure the protection of all financial information. End users of noqodis platform can now enjoy greater convenience with faster and smoother transaction processes, leading to quicker payment processing times.
Balancing fraudprevention with maintaining a good service to customers is a constant struggle. We are investing in new technologies to preventfraud taking place on our network, he said. The challenge is not just detecting fraud but anticipating its evolution.
The Economic Crime and Corporate Transparency Act 2023, specifically the “failure-to-preventfraud” offence, and outlines how businesses can mitigate fraud risks. Firms must be required to have fraudprevention policies in place and demonstrate their effectiveness. Why is it important?
The possibility of splitting payments between several people or cards makes shopping easier and further reduces the barriers to flying, says Yago Casasnovas, Head of Payments, FraudPrevention and Distribution at Air Europa.
Designed to meet the demands of modern banking, ACI Connetic integrates payments processing with fraudprevention features and modern cloud architecture. Together, they support the reference architecture of ACI Connetic, which brings card and account-to-account processing onto a single platform.
Manpreet Haer, CEO and Co-Founder of PayFuture, commented: “Our entry into Pakistan offers businesses a comprehensive solution that combines localised payment integration, currency conversion, and robust fraudprevention.
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 fraudprevention, 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.
Work With Your Payment Provider Most payment processors and gateways offer fraudprevention tools, but its up to you to make sure youre using them effectively. Monitor for Suspicious Patterns Look for unusual activity like multiple logins for the same account from different IPs or repeated use of flagged passwords.
The choice affects compliance, efficiency, and fraudprevention capabilities. Meanwhile, outdated and fragmented systems hinder many organisations’ fraudprevention efforts, increasing operational costs and impeding decision-making. What is this article about? Why is it important? What’s next?
Sumsub has expanded its fraudprevention capabilities by integrating advanced device intelligence from Fingerprint, a provider of real-time device signal analysis. Together, our solutions provide greater accuracy and a more complete fraudprevention system, with no coding required on the clients’ side.
Businesses increasingly leveraged BNPL services to improve cash flow flexibility, while AI played a crucial role in enhancing fraudprevention and transactional security. It also points to generative AI as a future driver for fraudprevention and authentication, enhancing security measures in 2025.
Security & compliance risks: Meeting growing AML, fraudprevention, and regulatory demands is difficult with rigid, outdated infrastructure. Future-proof payment and banking infrastructure by implementing cloud-native, AI-driven automation, and Open API solutions that streamline payments and improve fraud detection.
Fraudprevention and regulatory compliance are the major challenges facing the industry When asked about the top challenges expected for the year ahead, fraudprevention topped the list, with 63% of respondents identifying it as a primary concern.
It explores the role of artificial intelligence in fraudprevention, the potential of account-to-account (A2A) transactions, and the need for clear regulatory frameworks to support innovation.
Keynote sessions and expert panels will delve into critical themes such as fraudprevention, embedded finance, and sustainability, offering attendees both strategic and practical takeaways. FraudPrevention and Cybersecurity: Developing robust strategies to mitigate risks in a rapidly digitalising world.
Mastercard has launched Account Intelligence Reissuance, a fraudprevention service designed to oversee the card reissuance process in the EEMEA region.
Modern platforms operate in an environment where 269 million card records were posted on dark web platforms in 2024 , and friendly fraud accounts for 75% of all chargeback losses. Consequently, the cost of fraudprevention now reaches $4.61 Static, manual-heavy models are no longer viable.
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