FICO

OCTOBER 5, 2021

This was a lively and insightful discussion around operationalizing converged intelligence in the fraud and compliance ecosystem. Today, I want to expand on one of the key themes we addressed: backbone technology convergence. All the panelists agreed that convergence of fraud and compliance functions is a noble goal.

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PYMNTS

JUNE 4, 2019

In the old days, forged checks were the biggest problems that bank fraud departments had to manage. It is no wonder that fraud prevention is one of the problem areas that FIs hope artificial intelligence (AI) can help resolve. Yet, few FIs leverage this technology in their anti-fraud efforts — only 5.5

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PYMNTS

JULY 25, 2017

Technological advances are pushing the boundaries for what’s possible in a variety of industries. Stemming from AI, machine learning is helping technology move at a swifter rate, and as more people bring their shopping needs into the online world, it’s likely that machine learning will play a larger role moving forward.

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PYMNTS

NOVEMBER 23, 2018

But those illegal marketplaces — often called the “Dark Web” — also present a juicy opportunity for those fighting fraud to detect and even preempt criminal activities than cost businesses revenue and, often, parts of their brand reputation. Early Warning Value. Enough of the basics. But that goes only so far.

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PYMNTS

SEPTEMBER 19, 2019

This has become a larger problem for FIs as they must not only deal with protecting customers from fraud, but also guard against bad actors armed with 4.1 Account opening fraud is a favorite tactic among such cybercriminals, many of whom rely on these credentials to pose as legitimate customers. billion stolen credentials.

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PYMNTS

MARCH 2, 2020

Instead, she noted, an estimated $240 billion is going out the door to fraud, waste and abuse (FWA). From those manual reviews, these highly experienced investigators create rules, monitor suspicious activity and collaborate with law enforcement to mitigate fraud in the system, she continued. Modifying the System.

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PYMNTS

MAY 29, 2020

We have deep dives on Main Street’s digital shift, ATM innovation and PPP loans. NEW DATA: Inside Main Street SMBs’ Digital Shift. FIs need to have the ability to find and thwart fraud, without accidentally sweeping up legitimate clients. The Flaw In Demonizing Big Tech. SBA reports show that $510.5 Trackers And Reports.

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PYMNTS

FEBRUARY 19, 2019

One day — maybe one that has already happened for some PYMNTS readers — we might look back with fondness and nostalgia on that time when chargebacks stood as the main worry merchants and other organizations faced when it came to fraud and risk. That’s where Kevin Lee comes in. Changing Scope. The stakes could hardly be higher.

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PYMNTS

OCTOBER 9, 2020

This includes upgrading digital security measures, but the resurgence of brick-and-mortar commerce has required upgraded technologies to accept contactless payments and mobile wallets. These include running scheduled checks on their platforms to detect fraud.

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PYMNTS

JULY 24, 2019

In the latest Digital Fraud Tracker , PYMNTS examines how fraudsters are utilizing mobile and app-based channels for fraud attacks, as well as why fraudsters are still relying on phishing as a major fraud strategy even as they increase their use of new technologies and techniques. Around the Digital Fraud World.

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PYMNTS

JANUARY 4, 2019

The 2018 holiday season has barely ended and it’s a good bet that retailers and payments players have yet to identify all the fraud that took place. The rest of the year will bring other such attacks, and no doubt new attacks barely imagined even by veteran fraud-prevention experts. Criminal Rings. Criminal Patience.

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PYMNTS

JANUARY 30, 2020

This new reality isn’t without its challenges for financial services providers, however, with security and fraud mitigation among the largest concerns. By definition, real-time payments give financial institutions (FIs) almost no time to analyze and authenticate a transaction to prevent fraud and other financial crimes.

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PYMNTS

OCTOBER 29, 2018

The payment and commerce opportunities of such technology is obvious, and the wearables market is helping to guide the way toward the potential (likely?) 29) by Kaspersky Labs and the University of Oxford Functional Neurosurgery Group noted, the technology is quickly gaining ground. Memory Technology. Security Vulnerabilities.

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PYMNTS

MARCH 20, 2020

We have deep dives into in-house restaurant ordering apps and cloud technology, as well as a report on banks running short on large bills amid the coronavirus crisis. It takes effort to balance seamless-but-fraud-free user experiences. Main Street USA Was Healthy In February, But Coronavirus Is The Wild Card.

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American Banker

MARCH 21, 2024

A recent survey showed a majority of banks use generative AI, mainly for tasks like writing emails and detecting fraud, but few say they have built customer-facing products with it.

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PYMNTS

NOVEMBER 19, 2019

The fact that fraud is on the rise is not new, nor is it surprising that banks are turning to artificial intelligence (AI) and machine learning to fight back. In the latest Digital Banking Tracker , PYMNTS looks at how banks are currently approaching their use of AI and machine learning in fraud protection and technology innovation.

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PYMNTS

AUGUST 31, 2018

Fraud, on the other hand, paid extremely well, a fact he learned at the age of 13 when he embarked on his first subscription scam. The part where he comes back to work as director of strategic development at We Fight Fraud , a security firm dedicated to helping businesses fend off fraudsters? Less expected. Hacking the Humans.

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PYMNTS

APRIL 7, 2017

“One of the main considerations when entering an agreement like this is the security element,” Christiansen told PYMNTS, adding that API technology enables a secure and reliable method of data exchange. Technology provides opportunities to use these records to create new consumer tools that help improve financial lives.

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Insights on Business

MAY 6, 2019

Payment fraud detection has always had a bit more latitude than its counterparts in anti-money laundering, customer due diligence and even trade surveillance compliance. Unlike the latter areas, fraud prevention is an area not as heavily governed by regulations or specific rules of what a financial institution should or should not allow.

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PYMNTS

MAY 22, 2019

With fraud ramping up, regulators around the globe are starting to take a closer look at everything from typical threats to the use of new technologies, like blockchain. However, most of these security risks will be familiar to banks, which have protected against digital fraud for decades now.

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PYMNTS

JUNE 14, 2018

Equifax , the embattled credit scoring company announced Thursday (June 14) that it named Bryson Koehler as Chief Technology Officer. Equifax said Koehler will work with the company’s product, data and analytics teams to drive technology and data insights for customers and partners. ” . ”

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Insights on Business

NOVEMBER 22, 2017

The changes we see in the global payments landscape, driven by innovative technologies, are fundamentally changing the industry, but they come with a brand new set of challenges. On the other hand, technology capabilities are supporting increasingly complex, sophisticated and global fraud and cybercrime patterns. bn ($5.3Bn).

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PYMNTS

JUNE 17, 2019

However, digital platforms face a major barrier in delivering these experiences: poor fraud detection. For digital platforms, fraud represents a two-headed beast. As largely online operations, they are tempting targets for fraudsters and hackers — therefore, robust anti-fraud systems are vital. According to PYMNTS’ research, 60.8

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PYMNTS

DECEMBER 21, 2020

Fraud instances have risen dramatically since the pandemic began, placing financial strains on consumers and merchants alike. Department of Justice recently warning consumers to be on the alert for virus-related fraud. It also examines which solutions or strategies merchants can employ to prevent such fraud.

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Abrigo

AUGUST 7, 2023

Assessing and preparing for staffing needs AML and fraud compliance is an essential obligation for financial institutions. By performing a thorough staffing assessment of your AML and fraud teams, you understand the resource needs to meet all quality and regulatory expectations.

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FICO

DECEMBER 18, 2019

In anticipation of a dramatic increase in CNP fraud, several years ago FICO implemented new machine learning technologies in the FICO® Falcon Fraud Platform to better catch fraud in this area. Current UK Fraud Trends. The differences in fraud rates between debit and credit spending are similarly stark.

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PYMNTS

NOVEMBER 17, 2020

Over 60 percent of banks say fraud volumes are rising, with over 40 percent reporting that average fraud hit value is going up. Under COVID, one study finds that 22 percent of Americans had been targeted by pandemic-related fraud attempts as of April.

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PYMNTS

NOVEMBER 21, 2018

The rate of contact center fraud has skyrocketed recently, growing by 350 percent during the past four years. In one recent move, for example, Avtex , a call center customer experience consulting and technology company, partnered with biometric identity company Daon.

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PYMNTS

AUGUST 12, 2020

Visa has become a part of the ranks of companies experimenting with Phixius, a technology that assists credentialed service providers in exchanging and supervising digital payments data, NACHA said in a Wednesday (Aug. The technology was to use the blockchain as well as Afinis interoperable and standardized APIs in addition to ISO 20022.

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CFPB Monitor

JUNE 3, 2021

Ballard Spahr Senior Counsel Alan Kaplinsky hosts the conversation. Click here to listen to the podcast.

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PYMNTS

FEBRUARY 1, 2017

At the same time, the risk of fraud has never been higher and is still increasing — and the true costs of card-not-present fraud hit both the top and bottom lines of retailers simultaneously, while doing damage to reputations as well. When it comes to fighting fraud, there is a two-tiered model that is emerging.

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FICO

AUGUST 3, 2022

Fraud Ideas from FICO World 2022 – and Excitement for 2023! FICO World 2022 was an excellent event with a stellar fraud protection and compliance track - here's some of what we learned. Synthetic Identities and Application Fraud. Innovative Customer Communications for Fraud. Tue, 07/02/2019 - 02:45. by TJ Horan.

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PYMNTS

APRIL 14, 2017

While the fraud ecosystem continues to rapidly develop and advance, big data may prove itself to be a strong weapon in combatting fraud. With that thought in mind, DataVisor set off on a mission to utilize harness and analyze that could potentially detect fraud and protect billions of users around the world.

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PYMNTS

MAY 23, 2016

It’s then not all that surprising that more than half of those surveyed (60 percent) said they don’t use fraud prevention tools. Today (May 23), MasterCard launched Simplify Controls, a fraud prevention tool that will help SMB owners control, prevent and monitor eCommerce transactions in real time.

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PYMNTS

APRIL 22, 2016

Regardless of the company, its industry, its customers or location, online fraud remains top of mind. The urgency of robust and multilayered fraud detection systems becomes especially clear against a backdrop where card-not-present fraud is likely to grow by leaps and bounds in the wake of the EMV liability shift from last year.

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Gonzobanker

MARCH 14, 2024

I know your sales leadership has spent hours teaching you how to conduct basic discovery on your prospect, but there are countless times when people speaking on the call have no clue about the financial institution’s main problems or challenges and know very little about their business model, systems in use, or people on the call.

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PYMNTS

AUGUST 15, 2018

Businesses in nearly every industry need to worry about risks, especially when it comes to fraud and security. billion in emerging technologies, hoping to combat cybercrime and stop fraudsters in their tracks. billion in emerging technologies, hoping to combat cybercrime and stop fraudsters in their tracks. Meanwhile, U.K.-based

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