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UK Gov’t Now Accepts Apple Pay For Some Services

PYMNTS

government has now started accepting Apple Pay for certain online payment services. There are plans to expand Apple Pay support to the local government, police, and the NHS later this year. This innovation will increase the convenience and security of gov.uk Pay will also make transactions more secure,” he said.

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Can Behavioral Analytics Slow Online Fraud?

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Fraud has no choice but to roll with the punches, and the flurries are enough to daze a boxer as skilled as Ali. Fraudulent activity is 81 percent more likely to occur online than at the physical point of sale. By now, it’s widely known that chip-enabled cards have been pushing fraud to digital conduits.

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Today In Payments: NYC Taxi Commission Accused Of Fraud; Apple Considers Letting Users Change Default Apps

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In today’s top payments news, the New York attorney general accused the Taxi and Limousine Commission of drastically inflating the price of taxi medallions, and Apple is debating letting users change their default apps. NYC Taxi Commission Accused Of $810 Million Fraud. Apple Considers Letting Users Change Default Apps.

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TRENDING: Why Preventing Bank Cyberattacks Is Only Half The Omni Security Battle

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Cyberattacks on banks have become seemingly inevitable, with banks and financial institutions (FIs) at risk of losing as much as $100 billion to online fraud every year. FIs hoping to win the fight against fraud are increasingly embracing new tools and technologies like machine learning (ML) and artificial intelligence (AI).

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How Radius Bank Is Tapping Mobile, Digital Card Issuance To Keep Debit Transactions Secure

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The ongoing pandemic has pushed more consumers online to carry out their shopping and banking, with fraudsters following suit. We have seen higher levels of fraud or suspicious activity, [and] we have definitely built up our fraud prevention team. … More Debit Payments, More Debit Fraud. is huge,” Tremont said.

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U.S. Bank: Machine Learning Is Banks’ Best Bet Against Fraud

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Banks lost about $4 billion to account takeover (ATO) fraud attempts last year and fraudsters have been reluctant to abandon the scheme as this year progresses. Fraudsters made off with account numbers and other personal details, which could later be used for different synthetic identity fraud or related schemes. digital bank Monzo.

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Greyhound Drives Omnichannel Security With AI, Advanced Learning Tools

PYMNTS

The travel industry may have seen exceptional growth in recent years, but the space has also toted the heavy baggage of rising fraud costs. Fraud could cost the market more than $25 billion this year, and approximately 20 percent of attempted travel-related transactions are confirmed to be fraudulent. Overcoming legacy systems.

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