GPT 5.0 Launch Sparks Fresh Concern for Finance Teams Battling AI-Driven Expense Fraud
- 11 hours 52 min ago
- Fraud Detection
As the world reacts to the launch of GPT-5.0, a new survey from spend management leader, Medius, reveals a mounting crisis for finance professionals already struggling to detect AI-generated expense fraud. With nearly a third (32%) of respondents admitting they wouldn’t recognize a fake expense report if it came across their desk, the arrival of a more powerful generative AI model threatens to only widen an already dangerous gap in business... more
FCA Secures Convictions Against Individual for £1.3M Ponzi Scheme
- 13 hours 52 min ago
- Fraud Detection
Daniel Pugh has been found guilty of fraud, following a prosecution by the FCA. Mr Pugh, aged 35 and of Devon, set up a Ponzi scheme that netted over £1m. Through his fraudulent Imperial Investment Fund (IIF), Mr Pugh took money from 238 investors he targeted largely through Facebook adverts. They were offered impossibly high returns of 1.4% a day, 7% a week or 350% a year.
Fraud Grows More Complex And Widespread As Chargebacks And AI Threats Loom Large
- 2 weeks 4 days ago
- Fraud Detection
While online fraud for companies has long been synonymous with payment fraud and account takeovers, a new wave of threats is gaining ground led by first-party chargeback fraud, refund abuse, and, increasingly, AI-powered attacks. Nearly half of merchants (47%) now report a rise in fraud perpetrated by known customers.
Unit21 Elevates Fraud Prevention For Fintechs With Fingerprint’s Device Intelligence
- 2 weeks 4 days ago
- Fraud Detection
Unit21, a global risk and compliance technology leader that proactively mitigates risks tied to fraud, money laundering, and other financial crimes, has announced its new
FICO European Fraud Map: UK Leads In “Card Not Present” Fraud And Total Losses
- 3 weeks 2 days ago
- Fraud Detection
The FICO European Fraud Map 2024 has revealed a worrying trend of rising card fraud levels and losses across the continent. The data from Euromonitor International on 18 countries shows that Card Not Present (CNP) fraud dominates card fraud losses and has increased across most countries.
Mastercard Steps Up Fraud Prevention Efforts With Launch Of Account Intelligence Reissuance Service In EEMEA
- 1 month 1 week ago
- Fraud Detection
Mastercard has introduced Account Intelligence Reissuance, an advanced fraud prevention service to efficiently manage the card reissuance process, in the Eastern Europe, Middle East and Africa (EEMEA) region. The product leverages Mastercard’s proprietary Artificial Intelligence (AI) technology and network purview to assess the level of risk associated with a card and provide AI-driven actionable recommendations about which cards need to be... more
Spanish Banks Reduce Fraud Attempts By 23% Thanks To Behavioral Defenses
- 1 month 1 week ago
- Fraud Detection
Spanish banks working with BioCatch, which prevents financial crime by recognizing patterns in human behavior, reported a 23% decline in overall fraud attempts in the first quarter of 2025 from the same period a year ago.
Experian Strengthens Its Fraud Fighting Capabilities With Mastercard’s Identity Insights
- 1 month 1 week ago
- Fraud Detection
Experian today announced the integration of Mastercard’s identity verification and fraud prevention technology into the Experian Ascend Platform™.
We Fight Fraud Adopts Salv Bridge To Share Real-Time Scam Intelligence With Financial Institutions
- 2 months 4 days ago
- Fraud Detection
We Fight Fraud (WFF), a specialist financial and cyber crime consultancy, has selected European Regtech scale-up Salv to share intelligence with financial institutions across Europe.
Sift Announces ActivityIQ and Other Innovations to Strengthen Identity Trust
- 2 months 2 weeks ago
- Fraud Detection
Sift, the AI-powered fraud platform securing identity trust for leading global businesses, today announced several new capabilities that provide fraud and risk teams with actionable intelligence they need to make more confident risk decisions and strengthen identity trust.
MRI Software Integrates Nova Credit's Income Navigator to Strengthen AI-Driven Fraud Detection for Multifamily Sector
- 2 months 2 weeks ago
- Fraud Detection
MRI Software, a global leader in real estate solutions and services, announces that it has integrated Nova Credit's Income Navigator into its fraud prevention and applicant qualification solution. The AI-powered document fraud detection capability offers further protections for multifamily businesses to efficiently safeguard their properties and communities against rental fraud.
ACI Worldwide Recognized as Leading Provider of Fraud Orchestration Solutions by Datos Insights
- 2 months 3 weeks ago
- Fraud Detection
ACI Worldwide , an original innovator in global payments technology, has been recognized among leading solutions providers in Datos Insights’ latest report on the fraud orchestration solutions market, Beyond Point Solutions: Orchestrating the Future of Fraud Prevention.
Riskified Expands Reach with AWS Marketplace Listing and Achieves AWS Accelerate Partner Status
- 2 months 3 weeks ago
- Fraud Detection
Riskified, a leader in ecommerce fraud and risk intelligence, has achieved AWS Accelerate Partner status.
Entercard Adopts FICO Platform to Fight Application Fraud
- 2 months 3 weeks ago
- Fraud Detection
As part of its enterprise fraud programme, Entercard will use AI-powered technology from global analytics software leader FICO to better identify fraudulent account openings. FICO® Platform’s capabilities for model development, identity resolution, streaming data and service orchestration will help Entercard, one of the leading Nordic finance companies, build and deploy powerful fraud scorecards, confirm applicants’ true identities through... more
Greenlight Introduces Family Shield Plan to Protect Seniors Against Fraud and Theft
- 2 months 3 weeks ago
- Fraud Detection
Greenlight®, the award-winning money and safety app for families, today announced the launch of Family Shield, its newest subscription plan designed to help caregivers protect seniors from financial fraud and ensure their physical safety.
