Pay.UK’s Fraud Detection Pilot Exceeds Expectations, Detecting Over £112M Worth of Fraud
- 1 year 2 months ago
- Fraud Detection
Pay.UK, the independent, not-for-profit operator of the UK’s national retail payments system including Faster Payments, Bacs and Direct Debit, can today announce the results of its pioneering fraud detection and prevention pilot in collaboration with partners Visa, Synectics Solutions and Featurespace.
Featurespace's Pilot with Pay.UK Again Demonstrates the Potential for National Payments Systems to Help Combat Fraud
- 1 year 2 months ago
- Fraud Detection
Leading AI-powered fraud and financial crime prevention company, Featurespace, has today announced the results of a major pilot with the independent, not-for-profit operator of the UK’s national retail payments system including Faster Payments, Bacs and Direct Debit, Pay.UK, to protect UK consumers from Authorised Push Payment (APP) fraud.
Currencycloud Partners with Form3 to Boost Confirmation of Payee Fraud Detection Offering in the UK
- 1 year 2 months ago
- Fraud Detection
Form3, the cloud-native account-to-account platform, today announces that Currencycloud, a Visa solution focusing on simplifying business in a multi-currency world, has selected them to provide account verification technology to support Confirmation of Payee (CoP) activity, designed to reduce fraud in the UK.
Fraud Remains a Major Problem as Over £1 Billion is Stolen by Criminals in 2023
- 1 year 2 months ago
- Fraud Detection
UK Finance today releases its 2024 annual fraud report, detailing the amount its members reported as stolen through payment fraud and scams in 2023.
Proof and Socure Partner to Combat Fraud and Forgery in the $200 Trillion Exchanged Through Contracts, Authorizations, and Forms
- 1 year 2 months ago
- Fraud Detection
Proof, the market leader for remote online notarization and identity-secured transactions and Socure, the leading provider of artificial intelligence for digital identity verification, sanctions screening, and fraud prevention, today announced a new partnership.
Visa Announces Generative AI-Powered Fraud Solution to Combat Account Attacks
- 1 year 3 months ago
- Artificial Intelligence, Fraud Detection
Threat actors are leveraging sophisticated technologies, like automated scripts and botnets, to amplify their card-testing attacks, allowing them to exploit vulnerabilities at an unprecedented scale and speed. These attacks, known as enumeration attacks, inflict operational expenses and $1.1B annually in fraud losses, accounting for a significant portion of global fraud.
Mastercard Transforms the Fight Against Scams with Latest AI Tech
- 1 year 3 months ago
- Artificial Intelligence, Fraud Detection
Verizon, NatWest and Global Anti-Scam Alliance collaborate with Mastercard to tackle fraudsters
Allianz Prevents 29% More Fraud and Announces Partnership With Clearspeed
- 1 year 3 months ago
- Fraud Detection
Allianz’s personal lines business has reported a 29%1 increase in fraud prevention in 2023 compared to the previous year. This spans all types of insurance fraud from motor claims, home claims, and application fraud, and the notable rise of ghost brokers and their tactics to lure innocent victims into a fake insurance policy.
Basware Helps Companies Prevent $1M in Losses for Every $1B Spent
- 1 year 3 months ago
- Fraud Detection
Basware, a global leader in AP automation and invoice processing, has introduced AP Protect, an AI-powered solution that empowers finance teams to protect their organisations from the threat of profit loss, invoice errors and fraud.
Experian Named a Leader in IDC MarketScape: Worldwide Enterprise Fraud Solutions 2024 Vendor Assessment
- 1 year 3 months ago
- Fraud Detection
Experian announced that the company was named a Leader in the IDC MarketScape: Worldwide Enterprise Fraud Solutions 2024 Vendor Assessment. The report evaluates each vendor’s advanced fraud detection capabilities, alignment with customer needs, and future strategy and roadmap for innovation.
Revolutionizing Security: Veridas Unveils Voice Shield to Combat Voice Fraud
- 1 year 4 months ago
- Fraud Detection
Veridas is launching a Voice Shield solution to provide an efficient and ready-to-use service for this problem. With over 5 million processes worldwide with voice biometrics alone, Veridas brings “Voice Shield” to the market as the highest level of anti-fraud technology.
NICE Actimize Announces New Integrated Fraud Management Platform Delivering Pervasive AI Across Fraud Prevention
- 1 year 4 months ago
- Fraud Detection
NICE Actimize, a NICE business, today announced the availability of IFM 11
Adyen Finds the Global Retail Sector Lost $429 Billion to Payments Fraud Last Year
- 1 year 4 months ago
- Fraud Detection
Adyen, the global financial technology platform of choice for leading businesses, has published new research revealing the billions the global retail sector loses to fraudulent activity annually.
Adyen Finds the UK Retail Sector Lost £11.3 Billion to Fraud Last Year
- 1 year 4 months ago
- Fraud Detection
Adyen, the global financial technology platform of choice for leading businesses, has today published new research revealing the billions the UK retail sector loses to fraudulent activity annually.
Visa’s Growing Services Business Infused with New AI-Powered Products
- 1 year 4 months ago
- Fraud Detection
Today, Visa, a leader in digital payments, announced continued expansion of its global value-added services business with the addition of three new AI-powered risk and fraud prevention solutions. The new products, part of the end-to-end Visa Protect suite, are designed to reduce fraud across immediate account-to-account and card-not-present (CNP) payments, as well as transactions both on and off Visa’s network.
