With the rise of agentic AI, identity verification is more important than ever. Distinguishing legitimate transactions from increasingly sophisticated fraud attempts places FinTech companies, with their digital-first infrastructure and seamless consumer experiences, at the vanguard of the ongoing battle against identity theft and financial deception....
Riskified and HUMAN Security have partnered to help merchants prevent fraud and abuse when dealing with artificial intelligence (AI) shopping agents. This collaboration brings together HUMAN Security’s HUMAN Sightline featuring AgenticTrust and Riskified’s eCommerce risk management expertise, the companies said in a Wednesday (Aug. 13) press release. The new tools...
Zelle operator Early Warning Services is being sued by New York State Attorney General Letitia James, who alleged that the company fails to protect its users from “massive amounts of fraud.” The Office of the New York State Attorney General said in a Wednesday (Aug. 13) press release that its investigation...
Australian bank CommBank is adding two new defensive assets designed to help protect its customers from fraud, scams, financial crime and cyber threats. The launch of these assets builds upon earlier solutions that have helped drive a 76% reduction in customers’ losses to scams since...
Have you ever gotten a text about an unpaid toll? Or one purporting to be from the U.S. Postal Service about an undelivered parcel? If you looked at these messages and thought “Scam,” you were on the right track. And as TechCrunch reported Sunday (Aug....
A growing number of older adults are losing large sums of money to impersonation scams, according to the Federal Trade Commission (FTC). The number of people 60 and over who said they lost $10,000 or more to this form of fraud quadrupled between 2020 and...
Cambodia’s Huione Group offers things like insurance, money exchange and financial services. But to the U.S. Treasury Department, the company’s online platform performs another, illicit and unadvertised function, Bloomberg News reported Friday (Aug. 1). While Huione affiliated companies have repeatedly denied any involvement with criminal...
A viral cash-out scam linked to TikTok has drained $17 million from New York ATMs in under three days, exploiting city-issued youth jobs program cards, according to The New York Times. New York’s Department of Youth and Community Development, which oversees the city’s Summer Youth...
As fraud threats become more sophisticated and regulatory scrutiny intensifies, financial institutions are under growing pressure to strengthen their defenses. Those defenses need to go beyond addressing fraudsters and extend to internal misalignment. “Meeting the Mandate to Align Fraud Prevention With Compliance Demands,” a PYMNTS Intelligence...