What makes authorized payment scams hard to detect? The speed and volume of transactions hinders banks in monitoring for fraud, but David Lott, payments risk expert with the Federal Reserve Bank of Atlanta, says educating customers and leveraging the right technology can help reduce scams.
Security leaders have acted as a result of the cyberattacks' tenacity, sophistication, and disruptiveness. They've switched from being reactive to being proactive, and they're now using the Microsegmentation and Zero Trust approaches.
They are able to discover, respond to, and recover from security breaches with...
Ten years from now, "the ability to transact on a global basis will continue," says Nick Coleman, CSO, real-time payments at MasterCard, who adds, "Maybe my car will buy stuff for me." Coleman discusses the future of digital payments and the technologies that can help secure that future.
This annual survey seeks to evaluate the current and projected impact of fraud on the finance and treasury environment. Practitioners from all industries are polled on their experiences with fraud and on the range of controls, safeguards and security practices employed to protect their financial assets and...
Android spyware FluBot's infrastructure was disrupted by the Dutch police as part of a multinational law enforcement operation in May, rendering this strain of malware inactive, Europol says. The agency is continuing its probe into identifying the actors responsible for the malware campaign.
Financial services firms lose an average of $18.5 million per year through malicious activity like leaked credentials, payment fraud, money laundering, fake account registration, loyalty abuse, and more. Fraud prevention depends on effective intelligence gathering, and few firms have the tools or personnel to...
Pre-pandemic, escalating mobile banking adoption rate was primarily fueled by smartphone penetration, with over 4 billion people using smartphones. However, the disruption emerging from the onset of COVID-19 has been a major driver of mobile banking, fast-tracking the trend of mobile-first banking among younger...
Financial criminals are constantly adapting and evolving their tactics to get ahead of financial institutions (FIs). Keeping pace with these criminals is a challenge in of itself, and when you couple that with the need to comply to ever-changing regulations?
Download this eBook to learn how a cloud-based, AI-first...
Between the ever-changing fraud landscape, and the surge in digital banking (which is here to stay), small to mid-sized banks and credit unions are already at a crossroads for financial crime risk management.
To make matters even more challenging, conventional fraud and AML tools are generating an overwhelming...
In the today’s digital world, when so much of our lives are online, identity verification and authentication are critical to addressing fraud-related risk management challenges. To prevent fraud and protect your business and your customers, you must be certain the people you are dealing with are who they represent...
In the today’s digital world, when so much of our lives are online, identity verification and authentication are critical to addressing fraud-related risk management challenges. To prevent fraud and protect your business and your customers, you must be certain the people you are dealing with are who they represent...
Expectations for AML Responsible Officers and their operational teams are increasing in response to the combination of new techniques for money laundering, organised crime, geopolitical issues and new actors. To meet these increased expectations, operational resilience and sustainability using intelligent analytics...
In order to keep pace with the card fraud threat landscape, financial institution CISOs must continually refresh their awareness and understanding of card fraud tactics, techniques, and procedures (TTPs). Even for the novice cybercriminal, there are few barriers to entry and near-infinite resources in illicit forums...
This past holiday shopping season proved to be yet another demanding, but lucrative one. The season was greeted with challenges such as supply chain shortages, and threat actors being especially busy leveraging tried and true methods, as well as some new ones, to take advantage of retailers and their employees. This...
Many organizations face an upward battle when detecting and preventing fraud. Consumers continue to rapidly migrate to digital channels and while organizations are also moving towards digitizing products and services to increase profit, it all comes at a price. Where transactions occur, fraudsters follow, seeking out...
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