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Why AI Is Social Media Fraud’s New Best Friend

PYMNTS

It can be difficult these days to remember the almost idyllic promise of social media when it first entered the general consumer consciousness. That’s not to tempt one into nostalgia, or to suggest that social media has become marred beyond recognition. Digital Evolution. Fraud Increases. trillion in 2018.

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Social Media Can Make Bank Customers Susceptible To Scams

PYMNTS

Unintentionally making themselves targets for scammers, customers may become vulnerable to fraud by complaining to banks on social media when systems crash. After problems with an information technology migration locked thousands of clients out of accounts at the U.K.’s

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Cybersecurity Awareness Month: How financial institutions can stay safe and secure online

Abrigo

Ideas for educating and promoting cybersecurity in October Cybersecurity Awareness Month is an opportunity for banks and credit unions to promote online safety and take steps to reduce cyber risks. The campaign has also evolved to reflect the changing nature of cyber threats and the emerging technologies that enable them.

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SME Execs Would Give Up Wine for Guaranteed Protection of Financial Information

Bank Innovation

In fact, it is so high on their priority list, that 28% said they would give up wine forever if that would guarantee protection of their financial information. Furthermore, 37% of respondents would shut down social media accounts, and 31% […].

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Meet Canadian Bank BMO’s Virtual Assistant BMO Bolt

Bank Innovation

EXCLUSIVE – Welcome BMO Bolt, Bank of Montreal’s virtual assistant on social media platform Facebook Messenger. The bot, announced today, was created in partnership with conversational banking technology company Finn.AI. This chatbot provides only unauthenticated information,Read More.

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How Payment Platforms Connect Merchants With Augmented Reality

PYMNTS

To let shoppers discover and try out new products, payment companies are helping merchants launch augmented reality (AR) experiences within social media platforms. The firm chose a Kenyan brand, Huddah Cosmetics , as the first social commerce merchant on its Mula service to roll out the platform.

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Fraud prevention and detection: Empowering clients through education

Abrigo

Takeaway 2 Client fraud education at financial institutions should include takeaways that explain how to protect themselves from phishing and tips for staying secure online. Fraud schemes, evolving with technology, are more sophisticated and more complex to detect. Fraudsters have adjusted their tactics as technology has changed.

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