Tagged: fraud

October 31, 2025 @ 8:53 am By Tony Zerucha  |  

According to recent research from NordVPN, prices for stolen payment cards on dark-web marketplaces rose in most countries. While the global average still sits around $8, some markets jumped by as much as 444%. In Canada, the average price fell from C$11.06 in 2023 to… Read More

October 31, 2025 @ 8:48 am By Tony Zerucha  |  

According to Ravelin’s Global Fraud Trends in Online Retail Report, 76% of retailers have seen fraud increase in the past year, with 16% reporting a significant rise.  The report finds that fraud is costing online retailers an average of $11 million a year. Ravelin finds… Read More

October 30, 2025 @ 4:43 pm By Omar Faridi  |  

A research study by global tech strategists Juniper Research anticipates a  85% surge in fraud detection and prevention investment by 2030; increasing significantly from $21 billion in 2025 to $39 billion in 2030. This reflects the urgent need to combat various fraud techniques, like real-time… Read More

October 30, 2025 @ 6:07 am By Omar Faridi  |  

Mastercard (NYSE: MA) has recently announced Mastercard Threat Intelligence, the threat intelligence offering applied to payments at scale. The solution brings together Mastercard’s fraud insights and network visibility with curated cyber threat intelligence from Recorded Future‘s platform to help payment fraud and merchant compliance teams… Read More

October 28, 2025 @ 4:44 pm By Omar Faridi  |  

Digital assets firm Kraken has issued an alert about the increase in recruitment and job-related scams via networks like LinkedIn and social media platform X. Indeed, job scams are nothing new but they continue to take on new forms with an increasing level of sophistication…. Read More

October 24, 2025 @ 8:08 am By Omar Faridi  |  

More than £600 million has reportedly been stolen by fraudsters in first half of 2025. UK Finance releases its half year fraud report, detailing the amount its members reported as stolen through payment fraud and scams in the first half of 2025. Criminals stole £629.3… Read More

October 21, 2025 @ 9:25 am By Omar Faridi  |  

FutureBank, a banking and payments integration platform, announced an international partnership with Regtech company Sumsub, a global verification provider. The latest collaboration should help banking service providers with enhancing their digital transformation strategies and control all identity operations via a unified platform. The partnership brings… Read More

October 15, 2025 @ 12:31 am By Omar Faridi  |  

Regtech firm Sumsub released the latest edition of its Global Fraud Index, developed in collaboration with Statista, CryptoUK, Digital Assets Association, Vixio Regulatory Intelligence and MENA Fintech Association. Timothy Owens, Tech and AI Industry Expert, and Senior Research Lead Technology and TeleCommunications at Statista shared… Read More

October 9, 2025 @ 4:52 pm By Omar Faridi  |  

The payments industry has been combatting fraud for many years. But according to Chargebacks911, a global firm focused on dispute resolution and chargeback prevention, data reveals that merchants are losing more money and goodwill to false declines than to fraudulent activities. This appears to be… Read More

October 7, 2025 @ 10:06 am By Omar Faridi  |  

October 7, 2025 marks the first year since the UK’s Payment System Regulator or PSR introduced mandatory APP fraud reimbursement rules. Although 88% (£112m) of losses under the policy have reportedly been returned to victims, the total value of claims increased from Q1 to Q2… Read More

October 4, 2025 @ 7:09 am By Tony Zerucha  |  

Socure, a provider of artificial intelligence for digital identity verification, authentication, KYC, KYB, sanctions screening, and fraud prevention, has launched Socure Signals, giving enterprises direct access to the feature store powering Socure’s ML models. At launch, Socure Signals delivers more than 250 features, with expansion planned in… Read More

October 1, 2025 @ 12:00 pm By Omar Faridi  |  

Digital bank Revolut has reportedly recorded the highest number of fraud and scam complaints that had been referred to the Financial Ombudsman Service (FOS). Data reviewed by Which? found that fraudulent activity complaints from clients of the digital banking service provider had outnumbered all other… Read More

September 30, 2025 @ 12:42 pm By JD Alois  |  

The founder of Fintech Frank, Charlie Javice, a platform that sought to streamline the process for students to tap into available funds for college, has been sentenced to seven years in prison for fraud. According to reports, Javice is also reportedly required to return $22.4… Read More

September 26, 2025 @ 4:47 pm By Omar Faridi  |  

In a move against the rise of cyber fraud, Australia’s Westpac Banking Corporation has unveiled innovative tools to fortify customer protections, coinciding with a notable downturn in scam-related losses. Announced on September 26, 2025, the bank’s initiatives underscore a sort of multi-pronged strategy to outpace… Read More

September 25, 2025 @ 11:34 am By JD Alois  |  

The European Commission is going after big tech again. This time, the Commission is demanding Apple, Google, Microsoft and Booking.com what they are doing to mitigate financial scams. The request falls under the EU Digital Services Act, as “very large online platforms and search engines… Read More

September 24, 2025 @ 11:44 pm By Tony Zerucha  |  

Fraud officially crossed the digital divide in 2024, as digital document forgery surpassed physical counterfeits for the first time. According to Entrust’s 2025 Identity Fraud Report, digital forgeries accounted for 57% of all document fraud. Digital document forgeries are growing at an annual clip of… Read More

September 23, 2025 @ 8:32 am By Tony Zerucha  |  

A new study conducted by MoneyThumb, a provider of automated document evaluation and fraud detection solutions, in partnership with deBanked, a merchant cash advance publication, reveals an alarming trend in the small business lending sector: fraud is not only on the rise but is significantly… Read More

September 22, 2025 @ 6:45 pm By Tony Zerucha  |  

Fraud prevention platform Ravelin urges merchants to take immediate action on Visa’s updated VAMP (Visa Acquirer Monitoring Program). It warns that failure to minimize fraud will mean incurring significant, recurring fees, and even losing the ability to accept Visa payments. VAMP enforcement begins on Oct. 1…. Read More

September 16, 2025 @ 2:42 pm By Omar Faridi  |  

The Bank of Ireland has unveiled key updates that reflect its evolving role in nation’s financial services industry. As the nation grapples with economic pressures, sustainability demands, and rising cyber threats, these developments highlight the bank’s proactive stance. From expanding green financing for farmers to… Read More

September 14, 2025 @ 1:27 pm By Omar Faridi  |  

The Federal Trade Commission (FTC) is intensifying its oversight of emerging technologies and persistent financial frauds. The agency has launched a sweeping inquiry into AI chatbots that function as digital companions, while recently securing settlements that permanently ban operators of a notorious student loan forgiveness… Read More