Fraud Detection

Crèdit Andorrà Financial Group Selects NICE Actimize to Strengthen its Global Anti-Money Laundering Solutions Strategy

Facing the complexities of global regulations, Crèdit Andorrà Financial Group has selected NICE Actimize, a NICE (Nasdaq:NICE) business and the leader in Autonomous Financial Crime Management, to strengthen its anti-money laundering solutions strategy. Crèdit Andorrà Financial Group, the benchmark bank in Andorra, will integrate a suite of NICE Actimize anti-money laundering solutions into its financial crime operations in order to more... more Read more »

Accuity Rated a category leader in Chartis’ 2017 RiskTech Quadrant® for watchlist monitoring solutions

Accuity, the leading provider of financial crime compliance, payments and counterparty know-your-customer (KYC) solutions, announced today that it has been recognised by Chartis Research as a category leader in theRiskTech Quadrant® for watchlist monitoring solutions. The watchlist monitoring solutions category features in Chartis’ 2017 Financial Crime Risk Management update report. Read more »

Automated decision-making can save UK plc £7bn in the fight against financial fraud

With the value of UK fraud rising to nearly £200 billion a year, Rainbird predicts that AI-driven automated decision-making platforms c Read more »

Ocado launches AI-based fraud detection system for online orders powered by Google Cloud

Today Ocado Technology (the technology division of Ocado, the world's largest online only supermarket) is revealing the world's first AI-based fraud detection system for online grocery purchases. The new system relies on an advanced machine learning algorithm developed by Ocado Technology using TensorFlow and the power of Google Cloud.    Read more »

Learnings from the PNB Saga: Control Fixes at Banks

Reams have been written about who, whom, and how the fraud was perpetrated in the PNB story and it’s likely that the fraud will become a case study in business schools, and part of credit training at banks and Financial Institutions, regarding the ‘Do’s’ and ‘Don’ts’ when lending. While the fraud itself is best left to the investigating agencies to explore, there are a number of learnings for bankers even at this early stage of investigations. Read more »

Signicat secures second round of Horizon 2020 funding to develop ID Assurance as a Service

Signicat, the first and largest identity assurance provider in the world, has secured phase two funding from the EU’s Horizon 2020 programme, the framework for funding research and innovation. The funding will be used to further develop Signicat’s IDAaaS (Identity Assurance as a Service) toolbox for use across Europe—helping to create a single digital identity market for Europe, one of the European Commission’s priorities for the latter half of... more Read more »

Barclays warns UK faces most fraudulent online Christmas ever

This Christmas looks set to be the UK’s most fraudulent ever for online shoppers, according to new data from Barclays1. With fraud and scams becoming increasingly sophisticated, and with record numbers getting ready to do their Christmas shopping online, Barclays is warning of a perfect storm for seasonal online theft. Read more »

Chargebacks911 Announces Partnership with LimeLight to Reduce Credit Card Chargebacks

Chargebacks911, a leading international dispute mitigation and loss prevention firm (known as The Chargeback Company in Europe), has announced the integration of its comprehensive chargeback management services into continuity commerce platform, LimeLight. Read more »

More than Half of UK Public Think Fraud is Inevitable When Shopping Online and Want Business to Heighten Security Measures

More than half (52 percent) of UK consumers think fraud is an inevitable part of shopping online, according to new research conducted by Paysafe, a leading global payments provider. Read more »

Accuity unveils screening technology for transparent, traceable and auditable financial crime compliance

Accuity, the global financial crime compliance, payments and KYC solutions provider, today announced the launch of its latest generation of transaction screening technology designed to help clients automate and gain an end-to-end view of their financial crime compliance screening so that they can demonstrate their compliance policy in action to regulators.  Read more »

EastNets Showcases its Real-time Fraud Detection Solution at Sibos

EastNets (eastnets.com), a leading provider of compliance, payment and cloud solutions for the financial services industry, will showcase en.SafeWatch PaymentGuard, an advanced real-time fraud detection solution for SWIFT payments. The product will be showcased alongside the company’s numerous anti-money laundering and financial crime and compliance risk (FCCR) solutions, at the 2017 SWIFT International Banking Operations Seminar (Sibos). Read more »

FICO Machine Learning Algorithms Improve Card-Not-Present Fraud Detection by 30%

FICO is releasing new payment card fraud detection models focused on making card-not-present (CNP) transactions more convenient and secure. Read more »

Mastercard Arms Banks with Predictive Tool to Combat Card Fraud After Data Breaches

It can now take as little as 9 minutes for stolen card and account data to be used via the dark web. With this in mind, Mastercard today announced the launch of Early Detection System, a new service that provides banks with a unique advanced alert for high-risk cards and accounts that are exposed in security incidents or data breaches. Read more »

FICO Achieves Amazon Web Services (AWS) Financial Services Competency status

Silicon Valley analytic software firm FICO announced that its TONBELLER® Siron® suite of anti-money laundering (AML) and know your customer (KYC) solutions have achieved Amazon Web Services (AWS) Financial Services Competency status. This designation recognises FICO for delivering robust solutions on AWS to help organisations manage critical issues pertaining to the industry, such as risk management, data management, navigating compliance... more Read more »

Pulse: US Debit Card Fraud Declines in Wake of Chip Roll Out

According to the 2017 Debit Issuer Study, commissioned by PULSE, one of the nation’s leading debit/ATM networks, U.S. financial institutions substantially increased issuance of chip debit cards in 2016 and experienced reduced fraud losses.  Since the fraud liability shift for most debit transactions took effect in 2015, an estimated 80 percent of U.S. debit cards have been converted to chip cards. The study also found that fraud loss rates... more Read more »

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