Online romance scams happen all year round, but with Valentine’s Day less than a week away, even the smartest people looking for love could get swept up into the digital arms of today’s modern Don Juan and gold-digging opportunists. A study by Scottish TSB Bank,...
Digital fraud is a constant threat to banks, businesses, government entities and individuals, and its volume and costs continue to expand, despite the best efforts of oversight agencies and security and risk management teams. The rate of suspected digital fraud attempts swelled 17% worldwide year...
Security platform nsKnox on Monday (Feb. 7) introduced Bank Account Certificate, calling it a “fraud-proof approach to sharing and validating banking details.” Bank Account Certificates from nsKnox are encrypted, signed and verifiable, meaning they protect both payers and payees and replace manual processes for verifying...
As businesses work to keep out fraud and curb false declines in the year ahead, they must bear in mind that context is key. In the Digital Fraud Tracker, TSYS’ Dondi Black explains how companies can tap AI and machine learning to verify data points...
The word “fraud” is a deceptively simple term covering a growing variety of sophisticated crimes, including identity fraud, account takeovers (ATOs) and so-called friendly fraud. The pandemic-driven shift to digital channels gave rise to a sizable increase in fraud beginning in 2020, and this trend...
Thirty percent of chief financial officers are responsible for their organization’s IT departments, but that doesn’t mean finance departments and IT operations are always working hand-in-hand. This disconnect between departments presents a weakness cybercriminals can exploit, making it important for both IT and finance teams...
The pandemic’s social and digital disruption has exposed organizations to increased risks of becoming victims of cybercrime. Many businesses had to transition employees to working from home quickly, and this trend may become a long-term reality for a significant share of the workforce. Before the...
The growth in buy now, pay later’s (BNPL) popularity has made fraud prevention an increasingly important subject for both providers and the merchants that offer it. Twenty-five percent of U.S. merchants already accept BNPL payments, and 46% expect to implement it as an option within...
Letting advanced algorithms to take the lead on security can keep fraud from derailing the BNPL experience. In the Digital Fraud Tracker, Sezzle CEO Charlie Youakim explains how BNPL providers can use artificial intelligence and machine learning to keep their platforms airtight without holding legitimate...