If there’s one unwelcome constant in payments, it’s fraud. Lately, fraud has multiplied, and social engineering scams and others are outpacing traditional fraud prevention measures. To battle fraudsters, financial institutions (FIs) need to take a proactive, holistic approach to security and scam protection in particular,...
Plaid has updated its identity verification (IDV) product to counter the threat posed by fraudsters who use generative artificial intelligence. New features added to the product include deepfake and synthetic media detection, facial duplicate detection to catch repeat fraud attempts, age estimation to flag impersonation...
Google announced the rollout Thursday (May 8) of a fresh suite of artificial intelligence (AI)-powered safety features across its platforms to protect users from increasingly sophisticated scams. The company has integrated its on-device large language model (LLM), Gemini Nano, into Chrome’s Enhanced Protection mode on...
Fraud is getting more sophisticated, thanks to artificial intelligence (AI). Fraud can be perpetrated in the form of deepfake videos or voice, with AI producing a clone of a family relative supposedly in an emergency and needs a cash transfer immediately. AI can write more...
For merchants seeking to deliver a seamless omnichannel experience to their consumers, fraud remains a persistent concern. And while they look to acquirers to offer up the payment innovations that help satisfy customers’ desires to transact digitally on their mobile devices, they also want acquirers...
For decades, consumers have been bombarded with security advice designed to keep their financial data safe. Yet, in a digital landscape increasingly fraught with sophisticated phishing schemes, brute-force attacks and data breaches, the onus still remains largely on those same individuals and business users to...
Generative AI tools are reportedly powering a new threat to companies: job seekers who aren’t who they say they are. Using artificial intelligence (AI) tools to create false profiles, photo IDs, employment histories and even deepfake videos for interviews, these fraudsters aim to secure remote...
PYMNTS Intelligence data has detailed the continuing appeal of debit cards as preference for everyday spending, prized for convenience and as a way to spend cash on hand, rather than tapping credit (and adding to monthly debt burdens). The data show that individuals are 67%...
Fraud and money laundering prevention provider Hawk has raised $56 million in new funding. The Germany-based company says its Series C round, announced Tuesday (April 8), will help it finance further product innovation and fuel expansion efforts, especially in the U.S. “Hawk enables banks to...