Tagged: fraudulent activities

Account Takeover Fraud Is Now an Increasingly Common Online Crime: Report

Account takeover fraud is an alarmingly common type of online crime, which can “affect businesses and individuals alike,” according to an update from SEON. This form of attack tends “to occur when a fraudster poses as an established, genuine client of a business, or as… Read More

Persona, Serpro to Combat Identity Fraud in Brazil

Persona announced it has partnered with Serpro, the federal government technology company of Brazil. As part of the partnership, Persona has “integrated with Serpro to unlock the ability to validate both PII and biometric information against government data sources.” The joint initiative will enable organizations… Read More

Consumers’ Online Payment Security Concerns Grow During Cost-of-Living Crisis: Report

Over half (59%) of consumers are “more concerned about becoming a victim of fraud now than they were in 2021.” That’s according to research released by specialized payments platform, Paysafe (NYSE: PSFE) which indicates that consumers across North America, Latin America and Europe are “prioritizing… Read More

Kyle Ferdolage: Lead Trust and Safety Analyst at N26 Says They’re Raising Awareness About Potential Scams

The past 12 months have seen phishing attacks rise 29% globally to reach a new record of 873.9M attacks, with the highest uptake of over 400% in the retail and wholesale industries, according to the 2022 ThreatLabz Phishing Report by ZscalerTM. The United States, Singapore,… Read More

Checkout.com Makes Authentication Enhancements to Enhance Payment Performance

Checkout.com, the cloud-based payments service provider, announced updates to its Authentication product “to help merchants combat fraud and optimize their revenues, with an evolving toolkit of products and features to help merchants navigate the rapidly evolving landscape.” Checkout.com’s enhancements to its Authentication solution “comes at… Read More

Kåre Kjelstrøm: CTO at Concordium Explains How Blockchain Tech May Enhance Social Media Platforms

We recently connected with Kåre Kjelstrøm, Chief Technology Officer at layer-1 blockchain company Concordium. Kåre, who has an MS in Computer Science from the University of Aarhus, Denmark, is leading the development of Concordium’s blockchain platform – which embeds encrypted ID into on-chain transactions in… Read More

Scammers Are Exploiting Crypto Owners in Liquidity Mining Scam: Report

The FBI recently issued a Public Service Announcement to “warn American citizens about a cryptocurrency scam using an investment strategy called Liquidity Mining in which scammers exploit owners of cryptocurrency, typically Tether (USDT) and/or Ethereum (ETH).” The scammer “builds a professional or personal relationship with… Read More

NanoPay Mexico Selects BPC’s SmartVista Anti-Fraud Tech

BPC, the international payments solution provider, has been selected as partner by NanoPay in Mexico, and has launched its anti-fraud solution SmartVista in order to safeguard credit card transfers for its clients. Daniel Hernández, Business Development Director and Country Manager Mexico at BPC, said: “The… Read More

CBA Introduces AI Tech to Protect Clients from Scams

In a bid to prevent more Australians falling victim to scams, Commonwealth Bank has introduced AI tech to detect suspicious and unusual behavior on its virtual banking platforms, keeping more clients safe by alerting them to potential scams. The new AI technology uses machine learning… Read More

Fintech Enfuce Selects Konsentus Verify for Secure Open Banking

​​Enfuce, which claims to be one of the fastest-growing Fintech firms in Europe, has reportedly chosen Konsentus Verify in order to protect its clients from unauthorized/fraudulent third parties gaining access to account data and funds. Enfuce offers a modern, flexible, scalable, open banking service that… Read More

LHV UK Introduces Confirmation of Payee to Address APP Fraud

LHV UK, a banking services provider to more than 200 Fintech and crypto firms, is pleased to announce its Confirmation of Payee (CoP) service is currently live for all its direct clients. Introduced in July 2020, CoP is a fraud prevention system that’s led by… Read More

Singapore’s OCBC Hit With SGD 330M Additional Cap Requirement Following Phishing Scams

The Monetary Authority of Singapore (MAS) has imposed an additional capital requirement of around SGD 330 million on OCBC Bank. The city-state’s regulatory authority noted that this latest move was in response to the deficiencies in the banking institution’s response to a set of “spoofed”… Read More

BNPL Fintech Laybuy Appoints Risk Management Professional Jamie Byles as Chief Risk Officer

New Zealand’s Buy Now Pay Later (BNPL) service provider Laybuy recently revealed that it has appointed risk management professional Jamie Byles as its Chief Risk Officer (CRO). In this position, which is reportedly a part of Laybuy’s senior leadership team and based in London, Jamie… Read More

Nationwide Building Society Reportedly Stops 2,000 More Online Shopping Frauds with SCA

New payment checks at online checkouts are “proving invaluable” as Nationwide Building Society reports it is “protecting its members from an additional 2,000 cases of online card fraud a month.” Despite the fact that some transactions now take a little longer, new research from UK’s… Read More

Early Warning Introduces Verify Identity, an ID Fraud Detection Solution

Early Warning Services, LLC, announces Verify Identity, a synthetic identity fraud detection solution “for qualifying financial services organizations (FSOs), mobile network providers, corporations and government entities.” This new technology service combines predictive scoring with rules-based solutions “to determine the likelihood that a prospective customer is… Read More

Security Report Reveals Fraudsters Passed “Knowledge Based” Authentication Questions 92% of the Time

Pindrop, which claims to be an international leader in voice tech, recently shared its annual Voice Intelligence & Security Report “uncovering how companies might be accidentally inviting fraud, threat mongers from the dark web and bad actors better prepared to pass authentication.” As noted in… Read More

Millions of UK Consumers Now at Risk of Fraud after “Ignoring” Bank Payment Warnings: Report

Millions of UK bank account holders are “putting themselves at a much greater risk” of fraud by ignoring warnings provided by the Confirmation of Payee (CoP) service. This, according to research by Lloyds Bank. When sending funds online to someone that hasn’t been paid before,… Read More

BNPL: Survey Reveals that Nearly 25% of those Who Experienced Fraud No Longer Use Buy Now Pay Later Services

Callsign, the digital trust pioneer, recently announced the results of their first Buy Now Pay Later (BNPL) survey which polled over 2,000 U.S. adults on their experience with Buy Now Pay Later services “offered via retail sites.” Buy Now Pay Later services have “continued to… Read More

Croatian Lender Robo.cash Comments on Red Flags in P2P Investments, How to Spot Scams

In recent years, the peer-to-peer market has become “a competitive alternative to traditional assets due to attractive returns on investments, their predictability (yield and term are known in advance), ease of management and low volatility.” according to an update from Robo.cash. However, Robocash clarifies that… Read More

André Ferraz: CEO at Incognia Discusses Why Location Spoofing Is Critical for Crypto Firms Amid Sanctions on Russia

André Ferraz. CEO at Incognia, a “privacy-first” innovator in location technology, enabling “frictionless” zero-factor authentication for mobile. recently commented on why location spoofing is critical for crypto companies amid sanctions on Russia. He talked about why it is important to keep track of users’ activities… Read More

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