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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. Fraud Increases. Digital Evolution. trillion in 2018.

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The true cost of fraud

Abrigo

Measuring the cost of fraud losses. The true cost of fraud goes beyond the initial reported fraud losses Would you like other articles like this in your inbox? Takeaway 1 Fraud scams made worse by the pandemic continue to be successful, while crypto-scams are emerging. That equates to $35 billion annually.

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Top 10 Crypto scams to look for in 2023

Abrigo

Guidance for banks on the lookout for crypto scams and fraud The turbulent cryptocurrency scene should put bankers on high alert. Takeaway 1 Cryptocurrencies are the newest and most popular field in potential financial gains through fraud. But with increased popularity comes more opportunity for fraud. DOWNLOAD WHITEPAPER.

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Fraudsters Target Financial Services with Small Stealth Attacks

Bank Innovation

Fraud campaigns targeting online financial services tend to be smaller, and subtler than fraud campaigns conducted for other online platforms.

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How FIs Counter Online Debit And Credit Card Skimming

PYMNTS

Those efforts have reduced the threat of fraud at physical payment terminals, but many consumers are now shifting to shopping digitally. Fraudsters often plant advertisements on social media platforms that link to fake retail sites, enabling them to prey on distracted consumers or those whose vigilance slips.

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How Blaze Pizza Fires Up Friendly Fraud Defenses

PYMNTS

Consumers are using mobile apps’ order-ahead features and loyalty perks more often during the COVID-19 pandemic, yet chargeback fraud — also known as friendly fraud — is unfortunately also rising. A Proactive Approach To Friendly Fraud. Friendly fraud often develops around online promotions at restaurants.

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Big Tech Faces Regulation Reckoning As 2021 Dawns

PYMNTS

As reported in this space , the DSA and DMA cover online marketplaces, social media and other platforms. The proposal also mandates more disclosure on "online advertising and on the algorithms used to recommend content to users.". The seeming intent across the pond to reign in Big Tech’s scope also is echoed in the U.K.