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

PYMNTS

AUGUST 26, 2019

22) the Justice Department unsealed an indictment —spanning 252 counts — against 80 defendants for alleged online scams that bilked firms and individuals of tens of millions of dollars. The individuals are charged with using business e-mail compromise (BEC) scams to dupe victims. Late this past week, on Thursday (Aug. Individual Case.

Business Email Compromise 58

Business Email Compromise Romance Scams Scams Identity Theft 58

PYMNTS

OCTOBER 1, 2019

bank found that one group, in particular, is most vulnerable to fraudsters’ scams. A report by Lloyds Bank noted that the share of millennial consumers who fall victim to scams increased by 400 percent in the past year, even though overall fraud incidents declined. Federal regulators in the U.S.,

Romance Scams 62

Romance Scams Scams Federal Trade Commission FTC 62

PYMNTS

FEBRUARY 14, 2020

In today’s top news, at least four Puerto Rico government agencies were targeted in a $4 million online scam, and India’s court hit pause on their antitrust investigation into Amazon and Flipkart. Puerto Rico Falls Prey To $4M Online Fraud. Also, Flywire raised $120 million and acquired Simplee Healthcare. CEO, told Karen Webster.

Romance Scams 56

Romance Scams Scams Acquirers Payments 56

FICO

APRIL 29, 2022

All these evolutions mean a changing landscape for retail fraud and scam trends. The New York Times recently ran a home page story on how criminals have concocted elaborate scams – complete with authentic ‘hold’ music – to impersonate bank customer service reps, tricking consumers into sending them money via Zelle.

Retail Payments 52

Retail Payments Zelle Consumer Romance Scams 52

The Fintech Times

MAY 22, 2024

In its Annual Fraud Report 2024 , UK Finance detailed the amount its members reported as stolen through payment fraud and scams, with a primary focus on authorised push payment (APP) fraud and unauthorised fraud. The main driver behind this was purchase scams.

Scams 59

Scams Finance Push-to-Card Romance Scams 59

Neopay

MAY 28, 2024

UK Finance releases its 2024 annual fraud report, detailing the amount its members reported as stolen through payment fraud and scams in 2023. billion through unauthorised and authorised fraud in 2023, a four per cent decrease compared to 2022. Banks prevented a further £1.25 Criminals stole £1.17

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Push-to-Card Scams Romance Scams Crime 52

PYMNTS

NOVEMBER 6, 2019

Even the most aggressive fraud prevention efforts are often behind the times, so to speak – and that creates another vulnerability in the form of blind spots from which fraudsters can attack. Fraud is a massive global problem, and you can bet that right now, fraudsters are thinking up new ways to defraud consumers and businesses.

Romance Scams 41

Romance Scams Account Takeovers Federal Trade Commission FTC 41

Seon

APRIL 18, 2024

Advancements have not increased the complexity of fraud tactics but have significantly amplified their scale, making it easier for less sophisticated fraudsters to execute more significant scams with broader reach. Often, the fraudsters enter through impersonation, a romance scam or another type of social engineering fraud scam.

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Authorization Technology Fraud Prevention Real Time Payments 52

Fintech Finance

APRIL 10, 2024

Deceptively simple, APP fraud involves a person being tricked into buying goods that don’t exist or sending a bank transfer to a fraudster posing as someone trustworthy. More complex and financially damaging types of APP fraud include romance scams. Both share a multitude of similarities with APP fraud.

AI 40

AI Romance Scams Fraud Prevention Scams 40

FICO

JUNE 14, 2022

Innovative Customer Communications for Fraud. Detecting possible fraud is important, but what you do with that suspicion may matter even more. Taking the most strident fraud prevention actions might seem the intuitive answer but suspicion is often unfounded, and most customers are not fraudsters.

Bots 52

Bots Scams Financial Crimes Push-to-Card 52

Fintech Finance

APRIL 29, 2025

that reveals two in three UK adults say they’ve been targeted by a scam, but many stay silent. Shame, embarrassment and scepticism are stopping victims coming forward, leaving fraud unreported and unchallenged. Alongside these responses, the data also points to how scam types vary across the U.K.

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Scams Research Fraud Prevention Romance Scams 65

The Payments Association

FEBRUARY 18, 2025

AI-driven fraud is evolving fastbanks must adopt adaptive AI models to detect and prevent scams in real-time. In the first half of 2024, criminals stole571million in the UK through unauthorised and authorised frauda stark reminder that existing fraud prevention methods are failing to keep pace.

AI 88

AI Romance Scams Fraud Prevention Scams 88

The Fintech Times

APRIL 30, 2025

Shame, embarrassment and scepticism have been revealed to be major reasons those who have been targeted by a scam choose to remain silent, as Wise , the global money management firm, finds that two in three UK adults have experienced a fraudulent attack.

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Scams Fraud Prevention Romance Scams Financial Crimes 45