Featurespace Awarded Tech Patents on Behalf of Payment Sector to Fight Global Scam Pandemic
- 1 year 10 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
- 1 year 11 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
- 1 year 11 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
- 1 year 11 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
- 1 year 11 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
- 1 year 11 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
- 1 year 11 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.
Report: Nearly 1 in 4 Consumers Who File Chargebacks Admit to “Friendly” Fraud
- 2 years 1 week ago
- Fraud Detection
Sift, the leader in Digital Trust & Safety, today released its Q4 2022 Digital Trust & Safety Index, which found that chargeback dispute rates have risen over 35% since Q1 2022, as everyday consumers increasingly seek to claw back money from businesses.
Brightwell’s Product Arden Named 2022 Winner in the BIG Award for Business
- 2 years 3 weeks ago
- Fraud Detection
Atlanta-based global payments technology company Brightwell announced today that its fraud prevention and mitigation solution Arden received the Business Intelligence Group’s BIG Award for Business and was named 2022’s New Product of the Year.
MANGOPAY and Nethone Join Forces to Provide Platforms and Marketplaces with Dedicated Anti-fraud Solutions
- 2 years 3 weeks ago
- Fraud Detection
MANGOPAY, the platform-specific payment infrastructure provider, is acquiring AI fraud detection and prevention company Nethone to develop and offer anti-fraud solutions designed specifically for marketplaces.
Mastercard and Ravelin Partner to Reduce Fraud and Create Frictionless Checkout in Digital Quick Commerce
- 2 years 2 months ago
- Fraud Detection
During the pandemic, online grocery orders rose by more than 50% and are expected to rise further this year, according to McKinsey research. More than ever, people make day-to-day purchases online, choosing quick commerce merchants that offer speed and convenience.
Experian Fraud Score Aims to Boost Fraud Prevention in the UK
- 2 years 2 months ago
- Fraud Detection
Experian has announced the launch of Experian Fraud Score, a next-generation fraud prevention solution which will help businesses of all shapes and sizes to detect fraud at the point of application, transaction and throughout the customer lifecycle. The service is independent of any data consortium membership, allowing organisations to have access to an advanced fraud prevention score ‘out-of-the-box’.
New Research Reveals Ireland is the Credit Card Fraud Capital of Europe
- 2 years 4 months ago
- Fraud Detection
Since March 2020, consumer spending habits have changed significantly, and that includes the way we use our credit cards online. Almost immediately, fraudsters tapped into this and found new ways of taking advantage of this with devious scams and cons that caused a drastic rise in fraud cases.
Cybercriminal ‘CEOs’: Master Fraudsters Making Almost Three Times the Amount of Top 100 FTSE CEOs
- 2 years 7 months ago
- Security, Cybersecurity, Fraud Detection
The fraud industry mirrors the size of the third largest economy* in the world, behind only the US and China
Latest ONS Figures Point To Rising Digital Fraud
- 2 years 7 months ago
- Fraud Detection
Josh Gunnell, director of fraud & ID at TransUnion in the UK, comments on the recent ONS fraud statistics:
