Fraud Detection

SEON - SMEs let down up to 6500 times a day by current fraud prevention measures

SEON, the fraud fighters, today announce new insight into the scale of the cybercrime problem UK SMEs face, estimating that there may be as many as 6,500 preventable cybercrimes committed against UK SMEs every day. Read more »

Proprietary fraud tools set to be ‘obsolete’ by 2023

Banks set to move to open source to combat rising tide of fraud, predicts Instaclustr Read more »

Bottomline 2020 Business Payments Barometer reveals: businesses incur greater losses year-on-year due to payment fraud

Bottomline (NASDAQ:EPAY), a leading provider of financial technology that makes business payments simple, smart and secure, revealed today that 58% of financial decision makers in businesses surveyed across Great Britain view financial loss due to payment fraud as ‘part and parcel of running their business.’ Of those surveyed, 81% were unable to recover more than half of their losses caused by fraud, a figure which rises to 88% for small... more Read more »

SEON advances COVID-19 fraud strategies with a solution like no other

For many working online is their lifeline as we navigate the restrictions COVID-19 has placed on economies across the world. Tamas Kadar CEO of Hungarian start-up SEON, the fraud fighters, warns that many have been too slow to react to the increasing threat level posed by cybercriminals before and during the pandemic. As many industries have undergone a huge digital migration and businesses have had to rapidly respond by moving online, SEON is... more Read more »

Federal Bank of India Combats Card and Merchant Fraud with ACI Worldwide’s UP Payments Risk Management Solution

ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced that India’s Federal Bank is leveraging its UP Payments Risk Management solution to identify fraudulent card activity, mitigate losses and enhance customer relationships. Read more »

Australian Fintech Hay Selects Featurespace to Strengthen Prepaid Card Security and AML

Featurespace™, the leading provider of Enterprise Financial Crime prevention software, has revealed that Australian fintech Hay has selected its ARIC™ Risk Hub to detect and prevent fraud and money laundering on its mobile-first solution. Read more »

CWG Inks Strategic Partnership with Clari5 to help African Banks Combat Financial Crime in Real-Time

Leading information technology company CWG, today announced that it has partnered with Banking Enterprise Financial Crime Risk Management products company Clari5 to jointly help African banks combat enterprise fraud and money laundering. Read more »

PXP Financial partners with ROAR Digital

PXP Financial, the expert in global acquiring, payment, fraud and data analysis services, has today announced its provision of Gateway services, along with a comprehensive portfolio of payment solutions to gaming giant, ROAR Digital, the joint venture between MGM Resorts International and GVC Holdings Plc. Read more »

Featurespace Named as Representative Vendor in Gartner's May 2020 Market Guide for Online Fraud Detection

Featurespace™, the leading provider of Enterprise Financial Crime prevention software, has been recognised as a Representative Vendor in Gartner's 2020 Market Guide for Online Fraud Detection1. The report states, "online fraud detection is expanding beyond traditional use cases, and market overlap with identity proofing and authentication is growing. SRM leaders focused on fraud should select vendors based on desired business outcomes and... more Read more »

Worldpay from FIS Helps Crypto Brokers and Exchanges with New Chargeback Indemnification Service from Forter

FIS™ (NYSE: FIS), a global leader in financial services technology, today announced Fraud Freedom, a new chargeback indemnification service designed for cryptocurrency brokers and exchanges. Read more »

Norway’s State Housing Bank Selects Temenos to Rapidly Offer Billions in Loans, Grants and Housing Support to Residents and Municipalities

Temenos (SIX: TEMN), the banking software company, today announced that the Norwegian State Housing Bank, Husbanken, will replace its legacy IT system and deploy Temenos Transact to digitalize and optimize its lending operations. Temenos’ partner, Syncordis, will support the implementation. Temenos’ cloud-native core banking product will drive operational efficiencies across the bank’s back-office operations and reduce cost and complexity.... more Read more »

Adaptive Behavorial Risk Models Automatically Protect Consumers

Fraud and financial crime continue to increase during societal changes. Data has altered due to a dramatic shift in consumer spending patterns. Machine learning models traditionally created on historic data need re-training to learn new consumer behaviors and be effective at identifying fraud and financial crime and optimizing payment flow.   Read more »

Liberty Bank reinforces its fraud strategy to further protect its customers

Liberty Bank, the third largest bank in the Georgia, has reinforced its fraud strategy to address the rising volume of fraud the industry is currently seeing. The bank has teamed up with long-term partner Compass Plus to launch a new fraud detection and prevention system built on their solutions. Read more »

Paymentology introduces new card scoring model

Cloud based payment processor Paymentology has launched its new Instream Fraud Scoring model which aims to improve the identification and blocking of fraudulent activity at point of sale on card usage, by more than 30%. The technology built into the new model ensures that the rapid speed of authorisation, for which Paymentology has become recognised as the market leader, is not compromised and the accuracy of the data ensures that all non-fraud... more Read more »

NICE Actimize and Infosys announce strategic partnership to offer end-to-end financial crime solutions

NICE Actimize, a NICE (Nasdaq: NICE) business and a leader in Autonomous Financial Crime Management and Infosys (NYSE: INFY), a global leader in next-generation digital services and consulting, together today announced the expansion in their strategic collaboration. This global partnership will allow Infosys to offer its best-in-class delivery capabilities and resell NICE Actimize’s end-to-end financial crime software solutions through either a... more Read more »

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