Bestshopping.com Selects iDenfy’s Biometric Verification Technology to Simplify E-commerce Compliance Processes
- 1 year 3 days ago
- Fraud Detection
iDenfy, a Lithuania-based RegTech firm specializing in identity verification and fraud prevention solutions, announced a new collaboration with bestshopping.com, a leading Italian e-commerce brand operating in the online retail space. This partnership aims to take security measures to the next level, protecting bestshopping.com from potential fraudulent activities and ensuring a safer online shopping experience for its users.
FICO UK Research Finds Fraud Protection Is a Bank’s Secret Advantage
- 1 year 4 days ago
- Fraud Detection
FICO: A new study of 1,000 UK consumers by global analytics software leader FICO has put the spotlight on the customer acquisition and retention advantages of strong fraud strategies. Once simply viewed as necessary overhead, according to the new research fraud departments are now the secret weapon in winning customers. Fraud protection was cited as the highest priority for individuals when choosing a provider for a new financial account.... more
Revolut Data Reveals Meta Platforms Remain ‘Hotbed’ for Scams; Warns Customers to Avoid Get-rich-quick “Investment Opportunities”
- 1 year 2 weeks ago
- Cybersecurity, Fraud Detection
Revolut, the financial global super app with over 35 million customers around the world, and 8+ million in the UK, has announced its latest scam data for 2023, revealing that the majority of all its reported scam cases in the UK started on Meta platforms (Facebook, Instagram, Whatsapp).
AccessPay Increases Coverage of Fraud & Error Prevention Suite with Embedded Confirmation of Payee and Sanctions Screening
- 1 year 3 weeks ago
- Payments, Fraud Detection
AccessPay, the leading provider of bank integration, today announced the addition of Confirmation of Payee (CoP) and Sanctions Screening capabilities to its Fraud & Error Prevention Suite, launched in 2023. The new capabilities will enable finance teams to avoid fraudulent and non-authorized payments and accidental misdirection of funds. They will also ensure compliance in an increasingly complex regulatory landscape.
Visa Program Combats Friendly Fraud Losses for Small Businesses
- 1 year 3 weeks ago
- Payments, Fraud Detection
Visa, a world leader in digital payments, spotlighted the evolution of its dispute program, making it easier for merchants to fight first-party misuse, also known as friendly fraud or first-party fraud, for card-not-present transactions. This change could save small businesses over a billion dollars in losses globally over the next five years, in turn benefitting the entire ecosystem of consumers and merchants.
Fidesmo Integrates to Mastercard’s Token Connect and Partners with German Neobank VIMpay
- 1 year 1 month ago
- Cybersecurity, Fraud Detection
Fidesmo, a leader in providing secure and convenient contactless services, is proud to announce the successful completion of its integration between Fidesmo Pay and Mastercard’s Token Connect service, also known as MDES Token Connect. This pioneering partnership sets the stage for a new level of security and convenience in digital payments and marks Fidesmo Pay as the first tokenization platform for passive wearables to successfully implement... more
Brazen Consumer Attitudes to Fraud Revealed
- 1 year 1 month ago
- Fraud Detection
Over a third of all internet shoppers believe committing fraud against brands online is entirely legitimate. Research commissioned by fraud prevention provider Ravelin, reveals many consumers have a shockingly brazen attitude to fraud, with 37% saying they see nothing wrong with taking advantage of loopholes or gaps in retailers’ policies for their own gain.
External Fraud Enters Top 5 Ranking of Operational Risk Concerns in Latest Benchmark Report by ORX
- 1 year 2 months ago
- Fraud Detection
External fraud has entered the ORX Top 5 operational risks table, above business continuity and regulatory compliance. AI has been cited as key to driving this increase, as it fuels more sophisticated and harder to detect fraud schemes, successful at bypassing controls. The findings were published in a report from ORX, the world’s largest operational risk association which works with over 125 banks and insurers globally.
AU10TIX Q3 Global Identity Fraud Report Uncovers 56% Surge in Payment Sector, Correlated with Unprecedented Decline in Crypto
- 1 year 2 months ago
- Fraud Detection
AU10TIX, a global technology leader in identity verification and management, today released its Q3 2023 Global Identity Fraud Report.
TransUnion UK Wins Anti-Fraud Solution Award for a Second Year
- 1 year 2 months ago
- Fraud Detection
TransUnion, a global information and insights provider and one of the UK’s leading credit reference agencies, won best Anti-Fraud Solution for a second consecutive year at the Credit and Collections Technology Awards 2023.
Bank of Khyber Selects BPC to Enhance E-commerce Security with Advanced Debit Card Technology
- 1 year 2 months ago
- Cybersecurity, Fraud Detection
Bank of Khyber (BOK), one of Pakistan's leading banking institutions, has announced a significant partnership with BPC, a leader in financial technology solutions, to enhance e-commerce and online transaction security for its customers. Under the agreement, all Mastercard debit Cards of Bank of Khyber will be equipped with 3D Secure authentication, conforming to the latest industry standards.
Top Honours for LexisNexis Risk Solutions Behavioural Biometrics Tools from Leading Analyst Firm, Datos Insights
- 1 year 2 months ago
- Fraud Detection
LexisNexis® Risk Solutions earned recognition as a leader in the Global Behavioural Biometrics and Fingerprinting Solutions report from Datos Insights (formerly Aite-Novarica). It achieved best-in-class scores across three of the four criteria areas assessed: vendor stability, client strength and client service. The analysts also considered LexisNexis Risk Solutions to be a strong contender, bordering on best-in-class status, in the product... more
Featurespace Research Reveals 70% of North American Financial Institutions Have Experienced Increased Fraud Rates in 2023
- 1 year 2 months ago
- Fraud Detection
Featurespace, the world leader in enterprise-grade fraud and financial crime technology, today announces the data findings of a new report: The State of Fraud and Financial Crime in North America Annual Report 2023.
Young Banking Customers Losing Almost £550 to Fraud, According to Research
- 1 year 2 months ago
- Fraud Detection
Almost half (48%) of 25–34-year-olds have or know someone who has been a victim of financial fraud, with fraudsters taking £570 from people on average, according to new research out today. The data from GFT’s latest ‘Banking Disruption Index’, a quarterly survey of consumer sentiment towards digital banking, found that one in five (22%) victims had to wait up to two weeks to get their money back from their bank.
Feedzai and Mastercard to Expand Crypto Fraud Protection for Consumers Globally
- 1 year 3 months ago
- Fraud Detection
Feedzai a financial crime and risk management solution, and Mastercard – a global technology company in the payments industry - are combining technologies to increase crypto fraud protection for hundreds of millions of consumers.
