The Centre for Finance, Innovation and Technology (CFIT) has formed an anti-financial crime group. The U.K.-based group announced the effort Monday (Sept. 2), noting it had recruited several tech and finance giants to its cause, including Amazon Web Services, Mastercard, Lloyds Bank, Revolut and Santander....
American consumers and business owners lost a record $12.5 billion last year to online scammers, marking a 22% spike in cybercrime over 2022, according to the FBI. Despite these losses, the FBI’s newly released annual internet crime report indicates Americans are growing more vigilant. The agency...
As real-time and account-to-account transactions rise and payments fraud continues to rise with them, Visa is putting artificial intelligence (AI) to work. The company announced Wednesday (March 27) that it will use AI in a trio of new applications within its fraud and risk management...
Business payments company Bottomline has debuted an updated fraud prevention kit. The company announced its enhanced Insider Threat Management solution Thursday (Feb. 22), saying it helps banks and non-banking financial institutions use data visualizations, threat profiles and advanced case management strategies to combat insider fraud....
March 03, 2023
“Real-time payments processing is becoming a reality in B2B,” Manish Jaiswal, chief product and technology officer at Corcentric, told PYMNTS. But as payments get faster, enterprises large and small will need to confront inefficiencies in accounts receivables and payables processes. Most companies, no matter the business vertical, have issues processing payments — where the challenges […]
December 21, 2022
Analysis of a variety of data sets is central to tackling online fraud without creating customer friction. As the digital economy grows and evolves, fraudsters are presented with a growing...
May 24, 2022
The best way for enterprises to battle frauds, bot attacks, synthetic ID attacks … … is to treat it all like a game. A war game. Raj Seshadri, president of...
September 02, 2024
The Centre for Finance, Innovation and Technology (CFIT) has formed an anti-financial crime group. The U.K.-based group announced the effort Monday (Sept. 2), noting it had recruited several tech and finance giants to its cause, including Amazon Web Services, Mastercard, Lloyds Bank, Revolut and Santander. Also joining the group are regulators such as the Financial […]
February 22, 2024
Business payments company Bottomline has debuted an updated fraud prevention kit. The company announced its enhanced Insider Threat Management solution Thursday (Feb. 22), saying it helps banks and non-banking financial...
September 19, 2023
The hackers who broke into the systems of two casino giants recently also carried out cyberattacks on three other companies. That’s according to David Bradbury, chief security officer of the identity...
June 27, 2023
Fraud prevention firm Sardine has launched an industrywide, independent consortium to curtail payment fraud. The new SardineX will bring together financial institutions and FinTech companies to share data and establish the credentials of senders...