The Aspen Institute Financial Security Program (Aspen FSP) has launched a new effort focused on reducing the scale and severity of scams affecting Americans. The Scam Prevention Initiative aims to improve how scams are measured, tracked and understood; bring together industry, government and civil society...
Watch more: The Digital Shift With Entersekt’s Dewald Nolte Firms get what they measure, and for years, payment security technology has been measured by how much fraud it stops. Untold billions of dollars have been invested in risk models, authentication technologies and compliance frameworks designed...
Apple has a new policy in which it has accelerated its release of security updates in response to the speed with which artificial intelligence can develop malicious hacking tools, Reuters reported Monday (June 29). The company used to package security fixes with its next planned,...
Watch more: The Digital Shift With Spreedly’s Justin Benson The 2026 World Cup will generate billions of dollars in ticket sales, travel bookings and merchandise purchases, but for merchants, it may also become the largest real-world examination of fraud controls and cross-border payment infrastructure they...
Fraud deadlines arguably don’t attract much attention outside compliance departments. This year’s changes to the Nacha Operating Rules reshape how banks are expected to identify suspicious ACH activity before losses accumulate. Fraud no longer arrives through one payment type or one customer relationship. Criminals move...
Financial regulators must adopt artificial intelligence tools to counter those already being used in cyberattacks, Marlene Amstad, chair of the Swiss Financial Market Supervisory Authority (FINMA) and chair of the International Organization of Securities Commissions (IOSCO), told Reuters in a report posted Friday (June 26)....
Banks have spent decades building fraud systems that see one transaction at a time. A charge either looks suspicious or it doesn’t. Fraud rings built their business model around that gap, spreading activity across thousands of payments using stolen cards, mule accounts, shared devices and...
Financial crime compliance programs are a game of alerts. Or at least they used to be in the pre-AI era, when compliance teams operated on a linear equation in which more transactions generated more alerts, and more alerts required more analysts. But financial services is...
The world’s top intelligence agencies warned that artificial intelligence (AI) is making cyberattacks faster, cheaper and harder to stop—and banks are in the crosshairs. The financial sector isn’t waiting. It’s already fighting back with the same technology fueling the threat. The Five Eyes intelligence alliance,...