Credit union service organization (CUSO) Velera has released a new resource designed to help credit unions navigate complex consumer-engaged fraud cases, the company said in a Thursday (Aug. 20) press release emailed to PYMNTS. Velera’s “Consumer-Engaged Fraud Case Management Playbook” provides a framework for investigating...
Abnormal AI will expand its use of OpenAI to support its Behavioral AI products that stop cybersecurity attacks, Abnormal AI said in a Wednesday (Aug. 19) press release. Abnormal’s solutions protect more than 4,500 organizations, including over 25% of the Fortune 500, according to the release. Abnormal’s anomaly detection engine analyzes identity and behavioral...
Payments have spent years getting faster. Fraud detection has not always kept pace. New August research from PYMNTS Intelligence, in collaboration with Plaid, shows that 47% of firms surveyed can’t detect suspected fraud in real time or within minutes. That is despite widespread use of...
Financial institutions have spent years trying to see more suspicious activity. New data from the Financial Crimes Enforcement Network (FinCEN) suggests the more valuable question may be whether they can see enough of the activity together. FinCEN said in a Thursday (Aug. 13) press release...
After learning about the cyber capabilities of frontier artificial intelligence models, a higher percentage of organizations plan to increase their security spending, IBM said in a July 29 press release. The share of organizations planning to increase security spending rose to 85% in May, up...
The Department of Justice’s National Fraud Enforcement Division, which was created earlier this year, will have about 500 attorneys by Aug. 24 and will continue growing after that, according to a memo released Thursday (Aug. 13). In the memo about the National Fraud Enforcement Division’s...
A healthcare nonprofit group focused on responsible artificial intelligence is turning its attention to cybersecurity. The Coalition for Health AI (CHAI) announced Wednesday (Aug. 12) the formation of its Health AI Cybersecurity Work Group, aimed giving healthcare organizations what it calls “the sector’s first practical, peer-developed guidance on frontier...
Artificial intelligence (AI) is no longer just helping cybersecurity teams find suspicious activity. It is starting to find vulnerabilities, test attack paths and, in some cases, act in ways that stretch the limits of the systems built to contain it. A clear directional signal for...
Finance and payments are gearing up for a new future. And they’re spending big to do so. During the first half of the year, the cybersecurity industry recorded over 215 mergers and acquisitions (M&A) collectively worth over a hundred billion dollars. But the more consequential...