Impersonation scammers reportedly have a new target: people afraid of being punished for missing jury duty. As The Wall Street Journal (WSJ) reported Sunday (Aug. 9), these scams have surged in the Tampa area. In just one county, authorities have gotten 44 reports of the...
The White House has launched a website (fraud.gov) that tracks the actions taken by its fraud task force and the dollar amounts recovered through those actions. “The White House Task Force to Eliminate Fraud is moving to shut off the money, crush criminal networks and...
Every fraudulent customs declaration can eventually become a financial transaction. And as investigators connect invoices, ownership records and money flows across global supply chains, that is a connection that’s becoming more consequential for the financial institutions facilitating and underwriting global commerce. The U.S. Department of...
Watch more: Need to Know With Quantifind’s Ari Tuchman An atomic physicist goes looking for the molecule that can reveal a buried land mine before someone steps on it. Years later, he is helping banks find the fraudster hiding inside a chain of legitimate-looking people,...
The payments industry’s brightest minds have built some of cybersecurity’s most sophisticated defenses around the moment money moves. But artificial intelligence is now forcing it to look further upstream. Visa, for example, said Monday (Aug. 3) that it agreed to acquire behavioral-intelligence provider BioCatch for...
Efforts by American retailers to prevent shoplifting appear to be paying off. That’s according to new research from the National Retail Federation (NRF), which finds external theft and fraud cases on the rise, even as the average number of shoplifting and merchandise theft cases declined...
Okta plans to add identity threat detection and response capabilities to its identity management platform by acquiring Permiso Security. The acquisition will add Permiso’s identity risk signals, behavioral analytics and threat detections to Okta’s platform, Okta said in a Thursday (July 30) press release. The...
Watch more: Need to Know With Plaid’s Shaffer Bond Fraud has traditionally been treated as a problem to investigate after money has moved. That approach is becoming harder to sustain as faster payment systems compress settlement times and reduce opportunities to reverse transactions. For many...
WEX will soon expand the capabilities of its WEXOnline platform for commercial fleets to include identifying and stopping potentially unauthorized fuel purchases before they are approved. The company plans to add an artificial intelligence-powered fraud prevention capability called SecureFuel to the platform for its North...