Unauthorized-party fraud has reclaimed center stage, reversing last year’s pattern and reshaping how banks think about risk. That is the core shift in the “2025 State of Fraud and Financial Crime in the United States” report, produced by PYMNTS Intelligence in collaboration with Block. Based on a...
A merchant’s returning customer attempts to complete a $1,800 luxury purchase on a mobile device, mistypes a password twice, triggers a reset email and leaves before the link arrives. A reused password harvested in an unrelated breach enables a criminal to access a stored wallet...
Watch more: What’s Next in Payments With Trulioo’s Vicky Bindra Speed is becoming the name of the game across financial services, FinTech and digital commerce. However, behind faster onboarding, faster payments and faster approvals hides a lurking threat. As fraud networks grow more sophisticated and...
Watch more: What’s Next in Payments With Entersekt’s Dewald Nolte The payments industry is locked into a race toward speed. Faster rails, real-time settlement, one-click checkout, invisible authentication and more innovations are all pointed toward one assumption: that friction is the enemy, and technology’s job...
A consumer receives a text message that appears to come from her bank. The tone is urgent. The link opens a convincing login page. Credentials are entered. Moments later, a transfer request appears inside what seems to be a trusted session. Across town, a mid-sized...
The cost of fraud at U.S. financial institutions is rising, but the deeper threat may be what it does to customer relationships and brand reputation. Half of all institutions surveyed say fraud has damaged customer loyalty, a finding that reframes financial crime as a strategic...
Tradition is as tradition does. And traditionally, in many finance organizations, fraud protection has lived in the same mental bucket as insurance premiums and audit fees; something necessary, prudent and fundamentally defensive. But as B2B payments accelerate their shift to digital rails across ACH, virtual...
Equifax has launched a new machine-learning product designed to combat two forms of first-party fraud: loan stacking and credit washing. The new Credit Abuse Risk model uses behavioral insights and Fair Credit Reporting Act (FCRA) data to detect these activities during prequalification offers, account origination...
Equifax has launched a product that uses artificial intelligence (AI) to detect and help prevent synthetic identity fraud. Synthetic identity fraud, in which fraudsters create a fictitious identity and use it to open credit accounts or obtain loans, is a fast-growing threat, the company said...