Fraud Detection

HooYu Identifies 1 in 8 Disqualified Directors are Abusing the Commercial Register

Research by fraud investigation technology provider HooYu has identified loopholes at Companies House that enables individuals to register as a director, to run businesses and to enable fraud and money laundering, even after they have been struck-off from holding company directorships. Read more »

Yooz leverages Artificial Intelligence to help UK businesses tackle invoice fraud

Yooz, an international provider of intelligent P2P software in the Cloud, today announced the launch of YoozProtect, a new functionality to assist in the automatic detection of fraudulent and forged documents and enhance regulation compliance for UK businesses. Read more »

Accuity Launches AI-Powered Financial Crime Compliance Screening to Detect and Prioritise Highest Risk Individuals

Accuity, the leading provider of financial crime compliance, payments, and Know Your Customer (KYC) solutions, has announced its AI-driven account screening capability, ‘Firco Automated Alert Reduction’, which increases the level of accuracy in detecting and evaluating screening matches during the KYC process. Read more »

NICE Actimize Signs Mobile Banking Leader Varo Money

Leading the industry with solutions protecting mobile financial services offerings, NICE Actimize, a NICE (Nasdaq: NICE) business and the leader in Autonomous Financial Crime Management, was chosen by Varo Money, Inc. a leading all-mobile banking company to implement its financial crime strategy for anti-money laundering protections including AML/KYC requirements, sanctions screening and transaction monitoring capabilities. Read more »

RISK IDENT crowned back-to-back FinTech Breakthrough Awards champion

RISK IDENT has been named “Best Fraud Prevention Company” at the 2019 FinTech Breakthrough Awards, marking a second consecutive win for the leading European anti-fraud company. The 2019 awards program, which recognizes the leading technologies, companies and products in the global FinTech industry, attracted a record-breaking 3,500+ nominations from across the globe. Read more »

Varo Money Selects Feedzai For Enterprise Fraud Prevention, Preparing For Continued Rapid Scale

Varo Money LLC (Varo), a leading challenger banking company, and Feedzai, the leader in fighting financial crime with artificial intelligence, today announced a new partnership. Varo’s continued growth will be bolstered by Feedzai’s fraud-prevention platform, which provides purpose-built machine learning for risk prevention with a focus on customer experience and flexibility to scale along with the rapidly growing bank. Read more »

Aite Group Recognizes Featurespace as "Best-in-Class" Technology

Aite Group, a global research and advisory firm, recognized Featurespace™ as Best-in-Class in its 2019 report on fraud and AML machine learning platform vendors (download a complimentary copy of the report here). Read more »

Ecommerce fraud increases as consumers increasingly migrate to online shopping

Figures from the annual BRC Retail Crime Survey out today report an exponential increase in ecommerce fraud, specifically fraudulent Card Not Present (CNP) refunds. As consumers shift away from spending on the high street and adopt a proclivity for online shopping, ecommerce fraud is growing at twice the rate of ecommerce sales. It’s expected that retailers will lose around US$130 billion in digital CNP fraud between now and 2023.  Read more »

NICE Actimize Signs Crypto Finance Leader Circle to Implement Markets Surveillance and Protections Strategy

Leading the industry with solutions supporting digital financial services offerings, NICE Actimize, a NICE (Nasdaq: NICE) business and the leader in Autonomous Financial Crime Management, was selected by Circle, a leading global crypto finance company, to implement its market surveillance and protections strategy. Read more »

OneSpan Launches AI-Based Risk Analytics to Stop Account Takeover and New Account Fraud

 OneSpan, a global leader in software for trusted identities, e-signatures and secure transactions, today announced the launch of its open API, cloud-based Risk Analytics solution to help financial institutions stop fraud, including Account Takeover and New Account Fraud. Read more »

Atlanta-based IDology to Be Acquired by GBG for $300m

IDology provides GBG with a strong foothold for Identity Verification and Fraud Prevention in North America, a key growth region for the company.  The acquisition will strengthen GBG's product portfolio and enhance its world-class customer experience, while delivering unbeatable regulatory compliance.  A strong cultural alignment based on an established commercial partnership. Read more »

EnterCard Doubles Fraud Detection and Cuts Fraud Loss Rate 60 Percent Using FICO Machine Learning

EnterCard, one of the leading Scandinavian finance companies, has sharply reduced its fraud rate and generated massive savings using the FICO® Falcon® Platform to combat payments fraud and communicate with its 1.7 million customers in Denmark, Norway and Sweden. As one of the first companies to use the platform’s machine-learning adaptive analytics capability, EnterCard is able to rapidly respond to shifts in fraud patterns, and has reduced net... more Read more »

NICE Actimize Announces IFM-X Integrated Fraud Management Platform Powered by AI

 NICE Actimize, a NICE business (Nasdaq: NICE) and leader in Autonomous Financial Crime Management, today announced IFM-X, its next-generation Integrated Fraud Management (IFM) platform that leverages automation and machine learning to optimize effectiveness while reducing the total cost of implementing and operating an enterprise fraud risk management system. Read more »

Success of AML and KYC processes depends on ability to properly manage resources and capacity, says ActiveOps

For many businesses – especially those operating in the financial services sector – anti-money laundering (AML) and know your customer (KYC) processes are crucial in ensuring that companies are maintaining regulatory compliance and monitoring for suspicious activity. To stay on top of AML and KYC requirements, organisations must ensure they have the ability to adequately plan and manage resource and capacity, so that staff efficiency and impact... more Read more »

FICO Awarded Five New Patents for Fraud, AI and Decision Science

Silicon Valley analytic software firm FICO has been awarded five new patents related to fraud, artificial intelligence (AI) and advanced analytics.  In total, FICO currently holds 192 US and foreign patents, and 93 pending patent applications. Read more »

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