The payments industry faces the dual challenge of enhancing user experience while combating sophisticated fraud. “There’s a lot of emphasis on doing things as frictionless as possible,” Sunny Thakkar, head of global fraud, disputes and authentication products at Worldpay, told PYMNTS during a discussion for...
As digital scams continue to evolve, QR codes have emerged as a new gateway for cybercrime, often leading unsuspecting victims into dangerous traps. Known as “quishing,” these scams involve fraudsters tricking individuals into scanning fake QR codes, which then redirect them to fraudulent websites or...
Despite public concerns about the potential for cyberattacks powered by artificial intelligence (AI), criminals have been slow to fully embrace the technology, according to a new report from cybersecurity firm Trend Micro. Eight months after the company first reported on criminals using generative AI, an...
Visa has launched a generative artificial intelligence (AI) solution designed to help issuers combat enumeration attacks. The new VAAI Score tool is being added to the Visa Account Attack Intelligence (VAAI) offering, beginning with U.S. issuers, the company said in a Tuesday (May 7) press release emailed...
January 15, 2025
As cybercriminals target more businesses, accounts payable (AP) departments are more vulnerable to fraud. With more than 80% of U.S. companies affected by sophisticated digital payment fraud, the need for reliable security systems is crucial. While digital transformation has brought many benefits, outdated payment systems can leave organizations exposed to emerging threats. According to a […]
February 28, 2024
In the world of cybersecurity, there’s no prize for being fashionably late with updates. And in today’s evolving technology and authentication landscape, if organizations aren’t at the tip of the...
October 27, 2023
Paul Fabara, chief risk officer at Visa, told PYMNTS in a recent interview that the shift to online channels during the pandemic — and afterward — meant analog businesses became...
September 26, 2023
As attractive as innovative new technologies appear, it’s important to remember they are just tools. And any tool, when in the wrong hands, can also be used for the wrong...
May 07, 2024
Visa has launched a generative artificial intelligence (AI) solution designed to help issuers combat enumeration attacks. The new VAAI Score tool is being added to the Visa Account Attack Intelligence (VAAI) offering, beginning with U.S. issuers, the company said in a Tuesday (May 7) press release emailed to PYMNTS. “With the VAAI Score, our clients now have […]
March 28, 2024
Coro has secured $100 million in Series D funding to grow its cybersecurity platform designed for small and medium-sized businesses (SMBs). The company will use the new funding to invest in...
June 29, 2023
Unit21 has raised $45 million in a Series C round to grow the Fintech Fraud DAO consortium. The funding is being used to support a collaborative approach to addressing fraud and money laundering,...
November 30, 2022
Twenty-one people have been charged with using cryptocurrency to launder money stolen through fraud schemes. The individuals were involved with transnational money laundering networks that helped foreign criminal gangs move...
