UK Urged to Lead Cross-Border War on £420 Billion “Fraudemic” Sweeping the Globe
- 2 months 3 weeks ago
- Fraud Detection
The Social Market Foundation (SMF) – a cross-party think tank – in partnership with Santander UK, have today published the first-of-its-kind ‘Fraud Threat Prevalence Report’. Through data from a survey spanning 15 countries and 28,000 respondents, the SMF has revealed the global nature of the ‘fraudemic’, and the action that the UK must take to address it1.
FICO and Jersey Telecom Collaborate to Tackle Authorized Push Payment Fraud
- 3 months 5 days ago
- Fraud Detection
In the fight against the growing problem of financial scams, global analytics software leader FICO has collaborated with Jersey Telecom (JT) to develop a powerful solution that enables direct, near real-time intervention to protect customers.
FICO Solutions Help Bank Mandiri Slash Fraud by 80% on Cards and 85% on Digital App as Digital Channels Boom
- 3 months 6 days ago
- Fraud Detection
Bank Mandiri, Indonesia’s largest financial institution, is using the industry-leading capabilities of
Trustly: Nearly £60 Million Stolen in Card Fraud in Past 3 Years
- 3 months 2 weeks ago
- Fraud Detection
Almost £60 million has been reported stolen through card fraud over the past three years in the UK according to new research from Trustly, the global leader in open banking payments. The figures were obtained via a freedom of information request sent to the National Fraud Intelligence Bureau run by City of London Police.
Visa in Talks to Acquire British Fraud-Fighting Firm Featurespace in a Deal Worth £700 Million
- 3 months 3 weeks ago
- Fraud Detection
Visa, the global leader in digital payments, is reportedly in advanced discussions to acquire Featurespace, a pioneering British company specializing in financial fraud prevention. The potential deal is valued at approximately £700 million, according to a report by Sky News.
New Experian Report Reveals Generative AI, Deepfakes, and Cybercrime Are the Top Fraud Concerns for Businesses
- 4 months 3 days ago
- Fraud Detection
Experian® today released its 2024 U.S. Identity and Fraud Report revealing that generative AI (Gen AI), deepfakes and cybercrime are critical threats putting intensifying pressures on businesses.
Investment Fraud Attempts Surge by 76% in the First Half of 2024
- 4 months 5 days ago
- Fraud Detection
According to the latest Bank of Ireland fraud data for the first half of 2024, the volume of investment fraud attempts has surged by 76% compared to the same period in 2023. Investment fraud happens when fraudsters, posing as legitimate firms, offer consumers investment opportunities on social media or in a sponsored search result. A common tactic is to promise high returns and then put people under considerable pressure to commit to the... more
Sionic Announces Fraud Protection Service Using Google Cloud AI Technology
- 4 months 1 week ago
- Fraud Detection
Sionic, a leading provider of real-time, Pay-by-Bank Commerce (PbBC) services, today announced the launch of its comprehensive fraud detection and mitigation service built exclusively for real-time, bank-to-bank payments at checkouts, whether online, mobile or in-store. Using Google Cloud’s Vertex AI platform, Sionic is able to help financial institutions and retailers detect fraud more effectively.
90% of Americans Worry About Rise in Fraud, 74% Think AI Will Increase Successful Fraud Attempts, Abrigo Survey Finds
- 4 months 1 week ago
- Fraud Detection
Abrigo, a leading provider of financial crime prevention and risk management solutions for U.S. financial institutions, today announced compelling new survey results revealing how Americans feel about financial fraud, their fears about AI’s impact on fraud, and some misconceptions that endure. The vast majority of Americans (90%) are worried about the rise in fraud: More than half (51%) are “extremely concerned” and another 39% are “somewhat... more
Safecypher to Drive Safer, More Robust Online Card Payments with the Launch of Evolutionary Technology
- 4 months 3 weeks ago
- Fraud Detection
Safecypher, one of Europe’s leading card payments security companies, has launched an advanced new anti-fraud technology in partnership with An Post. The Irish Post office will now embed the Safecypher security technology for CNP (Cardholder-Not-Present) payments into its popular An Post Payments app. CNP fraud is one of the most devious and pernicious types of credit and payments card fraud, and CNP global losses predicted for 2024 are $35.8... more
Barclays Scams Bulletin: Men More Likely to Fall Victim to Romance Scams, While Women Lose More Money
- 4 months 3 weeks ago
- Fraud Detection
Barclays is issuing a warning to those looking for love this summer, as the Bank’s latest data1 reveals romance scams are on the rise, with the amount claimed in May/June up 139 percent compared to March/April 2024.
Galileo Financial Technologies Adds 3D Secure to Bolster Online Fraud Protection
- 5 months 1 day ago
- Fraud Detection
Galileo Financial Technologies, a leader in financial technology solutions and a subsidiary of SoFi Technologies, Inc. today announced the launch of Galileo 3D Secure Access Control Server. This enhancement helps clients protect against card-not-present debit and credit card fraud, projected to escalate to $28.1 billion globally by 2026—up 40% from 2023.
Featurespace and OrboGraph Partner to Help Financial Institutions Prevent Check Fraud Using World-Class Analytics and Image Forensics
- 5 months 2 days ago
- Fraud Detection
Global fraud and financial crime prevention company, Featurespace, has partnered with OrboGraph, supplier of check processing automation and fraud detection software and services, to better protect the financial services industry from check fraud.
Etraveli Group and Outpayce Partner to Help the Travel Industry Reduce Fraud With a New Solution
- 5 months 2 days ago
- Fraud Detection
Etraveli Group and Outpayce from Amadeus have joined forces in a new partnership to tackle fraud in the travel industry. Through this new partnership, airlines and other travel stakeholders using Outpayce’s Xchange Payment Platform, can now benefit from Precision’s industry-leading risk management solution through a single connection.
