Fraud Detection

Company Directors at Greater Risk of Identity Fraud – Cifas and LexisNexis Risk Solutions Report Reveals

A new collaborative report, released today by Cifas, the UK’s leading fraud prevention service, and LexisNexis® Risk Solutionsan information solution provider that helps organisations assess, manage and predict risk and part of RELX Group, highlights that company directors are one of the most at-risk groups for identity fraud. Read more »

Tsys Applies Machine Learning Tech to Fraud Scoring

TSYS, in conjunction with Featurespace, announced a new fraud prevention product today, called TSYS Foresight Score with Featurespace.  Foresight Score is a fraud and risk scoring tool that incorporates innovative machine learning — a form of Artificial Intelligence (AI) that allows software to learn over time without being explicitly programmed — to bolster an issuer’s ability to fight transactional fraud. It was built in partnership with... more Read more »

Accuity signs USL,strengthening its position in the Nigerian market

Accuity, the leading provider of financial crime compliance, payments and know-your-customer (KYC) solutions, announced today that it has signed a new partnership agreement with Union Systems Limited (USL), an information technology company supporting advanced software for leading banks and financial institutions in Nigeria, Ghana and Kenya. The partnership enables Accuity to add momentum to the growth of its business across the Nigerian market. Read more »

New Cyber Security Solution Detects WannaCry Attack and Stops It Dead in Its Tracks

With the recent events surrounding the WannaCry ransomware attack, REMTCS' ANNI PASS solution would have identified and mitigated the ransomware attack, preventing it from spreading throughout an organization. Read more »

Chargebacks911 Rebrands as The Chargeback Company in Europe

Chargebacks911, Europe’s first-ever chargeback management and dispute resolution company for online businesses, announced today that it will also be known as The Chargeback Company in Europe. The company will still be known as Chargebacks911 in North America, Australia and elsewhere outside of Europe. Read more »

Nuance Unveils New Biometric Security Suite

Nuance Communications today took a major step towards reducing the risk of consumer fraud by announcing a new suite of biometric security solutions, driven by the latest in artificial intelligence (AI) innovations.  The new Nuance Security Suite includes not only the company’s award-winning voice biometrics technology, but also new advances in facial and behavioural biometrics that combine to provide advanced protection against fraud, across... more Read more »

CA Technologies to reduce online fraud losses by 25 percent

CA Technologies (NASDAQ:CA) today announced CA Risk Analytics Network, the payment industry’s only card-issuer network that stops card-not-present fraud instantly for network members using real-time behavior analytics, machine learning and global transaction data to reduce online fraud losses by an average of 25 percent* – a potential of $2.2 billion in savings.** Read more »

Russia’s Sovcombank implements psychometric scoring from FICO and EFL to increase credit portfolio

Russia’s Sovcombank is using a new form of credit scoring to attract young people looking for their first credit card. The score, developed by Entrepreneurial Finance Lab (EFL) and marketed by Silicon Valley analytics firm FICO, uses an interactive online assessment to evaluate an individual’s credit risk. Sovcombank, a universal bank with more than 2 million customers, is using the score to “gamify” the credit application process. Read more »

IndusInd Bank Wins Celent Model Bank of the Year Award For Growing Revenue While Managing Fraud; Endorsement of Clari5’s ‘Yin & Yang’ Approach to Fraud Management and Cross-sell

IndusInd Bank has won the Celent Model Bank 2017 Global Award for Fraud Management and Cybersecurity for driving a unique initiative, namely how to leverage the investments in fraud management to pay for itself. In the innovation, IndusInd Bank not only implemented the real-time enterprise wide cross-channel fraud and AML management platform, but also began reusing in-memory data to offer simultaneous real-time cross-sell and upsell. Read more »

Experian Handles New Account Fraud With BioCatch Behavioral Biometrics

BioCatch, the global leader in behavioral biometrics, announced today that it has teamed up with Experian, the leading global information services company, to integrate its behavioral biometric technology into the company's fraud and identity platform, CrossCore™, to help prevent new account fraud for its users. Read more »

Aspect Software, logo

Aspect Software Becomes a Service Provider Member of the GSMA

Aspect Software has strengthened its commitment to its work in banking fraud prevention and mobile banking, by becoming a service provider member of the GSMA. Representing the interests of mobile network operators worldwide, the GSMA connects hundreds of stakeholders within the mobile ecosystem to contribute to shaping the future of mobile communications worldwide. Read more »

Jumio, logo

Free2move Partners Jumio for Quick and Easy Identity Verification Process

Free2Move, the car-sharing aggregation app, will use Netverify Trusted Identity as a Service to streamline driving licence verification, improve services and drive expansion.  Read more »

Nethone Supports Almundo.com With Fraud Solution

Nethone – a global provider of AI-driven Business Intelligence and fraud solutions – announced today that Almundo.com – one of the largest and most admired travel agents in Latin America – has rolled out its cutting-edge fraud prevention system. Nethone fraud solution selected by Almundo.com leverages diverse state-of-the-art technologies, including top-grade Machine Learning and advanced User Profiling, focused on non-PII data. Read more »

Gadget ransomware warnings highlight opportunity to improve identity authentication

Fraud follows the channels of adoption, but as we get more connected, the easier it will become to prove our identity. This week the National Crime Agency and National Cyber Security Centre reported that a particular kind of security breach, ransomware, has grown significantly over the past year, with the popularity of internet-connected gadgets increasing the risk of attacks for consumers.  Read more »

Financial Fraud Action UK Report Shows £2 Million Loss Per Day as a Result of Financial Fraud

In 2016, the UK lost £2 million each day as a result of financial fraud, according to official figures released by Financial Fraud Action UK (FFA UK). The figures show the overall scale of financial fraud was £768.8 million, an increase on the £755 million lost in 2015. Read more »

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