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Banks Turn To 3D Secure 2.0 To Fight Fraud

PYMNTS

As fraudsters continue to chip away at profits and threaten firms’ financial stability, security providers and banks alike are investing in solutions compliant with 3D Secure (3DS), protocols, which protect both consumers and the companies serving them. 3DS was initially introduced in 2001, and has continued to evolve over the past 17 years.

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Germany’s Deutsche Bank Offers A Lifeline To Wirecard Bank

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Deutsche Bank, the Frankfurt-based multinational financial services company, is in talks with regulators to rescue Wirecard Bank, the deposit-taking division of the German payment company that is facing one of the country’s biggest accounting frauds, the Financial Times reported.

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Ghosts Of Payments Fraud Past: Enron CEO Skilling Freed From Custody

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As widely reported, Skilling helmed the energy giant before it collapsed into bankruptcy at the end of 2001. He served jail time in connection with fraud and conspiracy, centered on accounting tricks that were partly used to cover financial losses. The charges state that as much as $2.5 million had been defrauded between 2009 and 2015.

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Bringing medical and gaming tech to mobile fraud protection

Payments Source

San Francisco-based Arxan Technologies, which got its start in 2001 providing security tools to protect gaming and medical-device applications, says financial services companies are one of the fastest-growing sectors seeking help in barricading their mobile apps from hackers.

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Fraud Detection Sizzles, iPhone Shares Fizzle And Some Upbeat Economic News

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Online fraud falls — a LOT: Contrary to popular opinion — and perhaps contrary even to logic — the fraud fight has given a round to the good guys, even if the battle is far from over. Online fraud is down 34 percent, overall, at the end of Q1 2017 versus a year ago. Sizzle of the Week: The Economy.

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Deep Dive: Why Video-Based KYC Is Key To Seamless, Cost-Effective FI Onboarding

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Know your customer (KYC) policies were introduced with the Patriot Act in 2001 following 9/11, intended to help stem the flow of funding to terrorists. KYC regulations require companies to prevent money laundering and protect themselves from being linked to criminal enterprises by accurately verifying their customers?

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Startup Spotlight: Invisible Payments, Invisible Hacks

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Companies often don’t realize they’ve been targeted until they register losses. Companies put a lot of emphasis on security with features like multi-factor authentication, Carter said, but that’s like putting extra deadbolts on the front door while leaving the back door wide open. That’s the problem that startup Arxan aims to solve.

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