Feedzai Partners with UK Finance for Annual Fraud Report 2023
- 2 years 2 months ago
- Fraud Detection
Feedzai, the market leader in fighting financial crime with AI, has partnered with UK Finance, the trade association for the UK’s banking and financial services sector, to deliver its Annual Fraud Report.
25% of UK Businesses Affected by Biometric Fraud in 2022
- 2 years 2 months ago
- Fraud Detection
The alarming rate of global identity fraud and online financial transactions continues to climb, with research indicating a 30% year-over-year increase in document fraud ID theft, authorised push payment scams, fake documentation and deepfakes.
UK Financial Services Sector Spending £22K Per Hour Fighting Fraud - New Report from LexisNexis® Risk Solutions and Oxford Economics
- 2 years 2 months ago
- Fraud Detection
UK financial services organisations are collectively spending £34.2 billion each year on financial crime compliance (FCC), according to the latest True Cost of Compliance report from LexisNexis Risk Solutions. This figure represents an increase of 19% since 2020.
Mastercard and Vesta Partner to Deliver Enhanced Digital Fraud Detection Solutions for Asia Pacific
- 2 years 2 months ago
- Fraud Detection
Mastercard and end-to-end fraud protection platform Vesta have announced a new strategic partnership to deliver state-of-the art fraud management solutions for merchants in Asia Pacific. The partnership will involve the integration of Mastercard’s Cyber & Intelligence (C&I) products and solutions into Vesta’s transaction guarantee platform, and will allow merchants to eliminate online fraud, approve more transactions and grow their... more
Nethone Strengthens Commitment to Fraud Prevention with ISO 27001 Certification
- 2 years 3 months ago
- Fraud Detection
Nethone, the challenger machine learning-based fraud prevention company that enables eCommerce merchants and financial institutions to holistically understand their end-users, has been awarded ISO 27001 certification by the International Organisation for Standardization.
SEON Raises The Stakes In The Fight Against Fraudsters
- 2 years 3 months ago
- Fraud Detection
Following its recent analysis of online fraud trends in 2023, SEON has delved deeper into the specific risks facing iGaming operators around the world. Leveraging millions of data points from across its industry-leading platform, the company has created a new report, which highlights the persistent nature of fraud across the iGaming space and underlines the incredible variance in fraud risks between regions, and the increasingly varied tools... more
‘Fraud Is Growing And Becoming More Sophisticated’ Says SEON In New Data Report
- 2 years 3 months ago
- Fraud Detection
Fincrime prevention experts SEON has released its latest report, highlighting some of the most pressing fraud trends of 2023. The report leverages internal data from the company’s fraud prevention platform to provide businesses and individuals with the insights they need to stay safe over the next twelve months. Key findings from the report include:
‘Fraud Is Growing And Becoming More Sophisticated’ Says SEON In New Data Report
- 2 years 3 months ago
- Fraud Detection
SEON’s new report, which was released today, paints a worrying picture for both businesses and everyday individuals around online fraud. The publication, entitled ‘Fraud Trends 2023: What They Really Mean for Fraudsters and Your Business’, highlights that fraud is not only on the rise across the internet, but that online fraudsters are now targeting higher amounts of money, and doing so in an increasingly sophisticated manner.
Featurespace Awarded Tech Patents on Behalf of Payment Sector to Fight Global Scam Pandemic
- 2 years 3 months ago
- Fraud Detection
Featurespace, the world leader in machine learning fraud and financial crime prevention technology, has been awarded two new patents for its innovative technology that will help fight burgeoning levels of global financial crime. The first is for their Fragmentation Engine, and the second for Sandbox Layered State.
91% of Financial Fraud Results from the Submission of Fake or Modified Financial Documents
- 2 years 4 months ago
- Fraud Detection
Attempted fraud in the financial industry has risen sharply since the start of the cost of living crisis began in late 2021. Homeppl, one of the leading fraud prevention providers has confirmed this week that 91% of the fraud they flag in applications stems from applicants attempting to conceal their true financial status by modifying original financial documents or creating completely fake ones.
SEON And TBI Bank Combine Forces To Enhance User Experience And Security
- 2 years 4 months ago
- Fraud Detection
In a move designed to optimize user experiences and filter out fraud attempts, online fraud prevention experts, SEON has partnered with challenger bank, tbi bank, to leverage its Machine Learning based fraud detection platform.
Bottomline Introduces Confirmation of Payee Solution for Businesses
- 2 years 4 months ago
- Fraud Detection
Bottomline, a leading financial technology provider for banks and businesses around the globe, has announced a new line of fraud defence for companies. Now available to companies directly, Bottomline’s Confirmation of Payee (CoP) for Business helps better protect companies against potential fraud by verifying the owner of the bank account receiving funds.
Experian Launches CreditLock to Give Brits an Extra Layer of Protection Against Identity Fraud
- 2 years 4 months ago
- Fraud Detection
Experian has today launched CreditLock, a new feature that will enable customers to lock their Experian Credit Report at the touch of a button. The launch comes following data that shows 1 in 4 UK adults have fallen victim to fraud, with 75% of UK adults having been targeted, highlighting the scale of the problem in the UK. 1
Seon Prepares For Busy 2023 With New Key Hires
- 2 years 4 months ago
- Fraud Detection
Fraud prevention company, SEON, has announced the new hires of Ben Ortman as its new Global VP of Sales and Andrew McAllister as its new VP of Customer Success. The new additions reaffirm the company’s commitment to continued growth in 2023.
New Fraud Refund Mechanism Could Exclude a Quarter of Victims, Warns TSB
- 2 years 4 months ago
- Fraud Detection
TSB is warning that around a quarter (25%) of fraud victims could be denied reimbursement under the Payment Systems Regulator’s proposed refund mechanism, due to be introduced next year.
