Tagged: online fraud

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

Fintech Seon, which Specializes in Fraud Prevention, Acquires $94M in Funding

Seon, a startup that’s focused on assisting Fintechs like Revolut with addressing online fraud, has secured $94 million in capital, in order to implement various tools for preventing sanctions evasion by Russia. The London-headquartered firm secured the funding via an investment round that was led… Read More

Hubert Rachwalski: CEO at Nethone Explains How His Data Science, Security Team Combats Online Fraud

We recently connected with Hubert Rachwalski, CEO at Nethone, a company focused on a “Know Your Users” strategy to resolve fraud, so clients are able to gain more loyal customers while rejecting only fraudsters. Hubert talked about how cybercriminals are attempting to exploit online platforms… Read More

Online Fraud Predicted to Surge 60% This Holiday Season: Arkose Labs

A combination of a re-opening society and technical sophistication has online fraud poised to increase 60 per cent this season, new data from fraud deterrence platform Arkose Labs suggests. Industry watchers should be prepared for increased online fraud threats during the holidays such as rising… Read More

COVID-19 Outbreak Results in International Rise of Digital Commerce and Online Fraud: Report

The Coronavirus crisis has led to an international surge in digital commerce sales and online or all-digital businesses, as nationwide lockdowns have forced customers to engage with e-commerce platforms. As consumers continue to use digital commerce platforms and make cashless payments with virtual cards and… Read More

Hong Kong Monetary Authority Executive Director Reveals how They’re Protecting Consumers from Emerging Threats

In a keynote speech that focused on fraud and financial crime at a conference in Asia, Carmen Chu, Executive Director (Enforcement and AML), Hong Kong Monetary Authority, discussed anti-money laundering and financial crime risk issues and the ability of authorities to address these problems. While… Read More

ACI Worldwide, Provider of Real-Time Payment Solutions, Partners Swedbank, Will Combat Online Fraud

ACI Worldwide (NASDAQ: ACIW), an international provider of real-time payments and digital payment software applications, reveals that it has teamed up with Swedbank, a leading issuing and acquiring bank in the Nordic and Baltic regions. The company has contributed to a 55% decrease in payment… Read More

European Transactional Service Worldline Partners Microsoft to Enable Fraud Protection for E-Commerce Payments

Worldline (Euronext: WLN), the European leader in payments and transactional services firm, has teamed up with Microsoft (NASDAQ: MSFT) in order to integrate Dynamics 365 Fraud Protection into Worldline’s digital commerce payments solution. Online fraud has increased considerably during the COVID-19 crisis and resulting economic… Read More

Cybersecurity: Kompli-Global Launches Initiative to Help Firms Evaluate their Financial Fraud Prevention Strategies

With fraudulent activities on the rise and malicious actors becoming a lot smarter and more sophisticated in navigating online systems, it has become quite critical for payments and financial services providers to make sure they’ve got the right cybersecurity measures in place to combat online… Read More

HSBC UK Reports that Biometric Verification with its Caller ID Program, Voice ID, Reduced Bank Fraud by 50%

HSBC‘s caller ID program Voice ID has reportedly managed to reduce telephone banking fraud by more than 50% during the past 12 months, indicating that biometric verification can be quite effective in fighting against bad actors. HSBC says that its voice biometrics system has helped… Read More

London Regtech ComplyAdvantage Releases Report Noting that Firms Update Risk Enterprise-Wide Assessments to Account for Digitization Trends

London-based ComplyAdvantage, a company that offers real-time financial crime insight that “puts you in control,” notes that the European Union has introduced a strategy to deal with  organized and financial crime and the US recently imposed new sanctions on Russia. While sharing recent financial crime… Read More

Mastercard Says its AI and Machine Learning Solutions Aim to Stop Fraudulent Activites which have Increased Significantly due to COVID

Ajay Bhalla, President, Cyber and Intelligence Solutions, Mastercard, notes that artificial intelligence (AI) algorithms are part of the payment company’s “first line of defense” in protecting over 75 billion transactions that Mastercard processes on its network every year. Bhalia recently revealed the different ways that… Read More

Bank of America Shares Tips to Prevent Financial Fraud During October, the Cybersecurity Awareness Month

Bank of America or BoA (NYSE: BAC), one of the largest US banks in terms of total assets and scope of operations, has noted that the month of October is Cybersecurity Awareness Month. The BoA, which recently reported that around 97% of its transactions are… Read More

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