“The move to digital has been a wonderful thing,” JPMorgan Head of Client Fraud Prevention for Commercial Banking Alec Grant told Karen Webster. “The shift has opened up avenues and payment vehicles for treasurers that make them much more efficient and gives them new business...
The U.K.-based payments service provider Checkout.com on Wednesday (Oct. 19) announced the launch of a new anti-fraud tool, Fraud Detection Pro. As PYMNTS reported Tuesday (Oct. 18), online fraud is down in the U.K. after surging in 2021. See more: UK Sees 13% YoY Drop In...
In the never-ending cat-and-mouse game between those looking to defraud consumers and others looking to protect them, the advent of enhanced Strong Customer Authentication (SCA) for payments has equipped consumers with a key weapon. In the U.K., for example, new SCA rules for eCommerce came...
Identity authentication services company Prove Identity has begun offering its services in Brazil, with its first customer in the region being OZ Corretora de Câmbio, which works with foreign exchange services, a press release said. OZ Corretora de Câmbio will use Prove’s second-factory authentication service...
In a recent conversation with Karen Webster, Featurespace Founder Dave Excell and MidFirst Bank Vice President and Director of Enterprise Fraud Candler Eve sounded the alarm in the battle against payments fraud. As Eve noted: “We work, live and breathe in a digital world …...
The Secret Service has been looking into identifying scammers moving millions of stolen dollars through banks around the New York tri-state area. A Bloomberg report quotes an agent who says he has been reviewing a government database — the Internet Crime Complaint Center, or the...
The world’s biggest carmaker on Friday (Oct. 7) apologized for a breach apparently caused by a third-party vendor that is thought to have leaked close to 300,000 email addresses and associated customer management numbers. Toyota Motor announced on its website that email addresses and associated...
In financial services, you can’t fight the bad guys until you know what weapons they’re bringing to the battle. And how they’re mounting their attacks. Easier said than done, where financial institutions (FIs) are grappling with the waves of bots, account compromises and synthetic IDs....
Cryptocurrency exchange Binance’s BNB Chain is back up and running following an estimated $100M cross-chain bridge hack that led to the illicit transfer of digital assets and sensitive information. The world’s largest exchange tweeted Friday morning (Oct. 7) that the network is back online. “We...
