Remove Fraud Prevention Remove Identity Theft Remove Scams
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The platform risk paradox: Managing digital commerce fraud at scale

The Payments Association

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 fraud prevention now reaches $4.61 Static, manual-heavy models are no longer viable.

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Sumsub Launches Australia DVS Verification for Secure ID Checks

Fintech News

Additionally, it enhances fraud prevention by identifying data inconsistencies, helping to reduce identity theft and fraudulent account creation. A recent initiative, the Scam Prevention Framework, aims to enforce stricter safeguards, introducing penalties of up to US$50 million for non-compliance.

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Taking the Preemptive Strike to Thwart Rising Scams and Fraud in ASEAN Banking

Fintech News

In recent years, the banking sector in the Association of Southeast Asian Nations (ASEAN) has witnessed a significant surge in scams and fraud activities. DBS isn’t the only bank making news for phishing scams. US$129,841). Losses exceeded S$13 million (US$9.59 Losses exceeded S$13 million (US$9.59

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From account takeover to pig butchering: What SARs data reveals about fraud in 2025

BioCatch

Over the years, I witnessed firsthand the explosion of these crimes, evolving from simple credit card fraud to highly sophisticated global operations. As a retired U.S. Recent data and case studies underscore the alarming trajectory of these crimes, necessitating heightened vigilance and proactive measures.

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Enfuce Challenges the Global Payments Industry to Go Beyond Compliance With Launch of Fortitude Pledge

Fintech Finance

Powered by AI and advanced technology, they’re automating scams and exploiting weaknesses across the digital payment landscape at an alarming pace. Card identity theft losses have increased by 200% since 2021 (1) and human trafficking alone has become a nearly £400 billion industry (2).

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Meet Grey Nickel, the AI Crime Syndicate Targeting Banks and Crypto Across Asia

Fintech News

Consider Hong Kong, where in early 2024 a deepfake scam tricked a corporate employee into transferring USD $25.6 Unlike old-school identity theft, this involves creating completely new digital identities by stitching together real and fake information.   million to fraudsters impersonating company executives.

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The Paypers Fraud Prevention in eCommerce 2023 – 2024: Keeping Fraudsters Out While Balancing a Seamless Customer UX

Accertify

The Paypers Fraud Prevention in Ecommerce 2023 – 2024, Keeping Fraudsters Out While Balancing a Seamless Customer UX has been released and it has been made available for download. It discusses the most common, yet ever-evolving types of fraud, including chargebacks, scams, and account takeover (ATO), with their latest developments.