fraud-prevention
TechnologyBanks’ grip on online fraud is growing, but fincrime attacks remain a threat to the industry’s future
How ToIdentity theft: How to protect yourself from financial fraud and scams
BusinessEffective strategies for protecting your online business from ecommerce fraud
BusinessCompanies need to take preventative measures in tackling corruption and fraud
Cybercriminals continue attacks on banks: How banks can strengthen their security?
Date: February 16, 2023
Financial institutions in French-speaking African countries have been targeted by cybercriminals for months. The hackers carried out their last attack in September 2022 and continue to pose a threat. Researchers reported in November that a crew of French-speaking attackers, nicknamed “OPERA1ER”, had targeted financial institutions around the world, netting as much as over $30 million....
KYC and digital ID&V – stopping fraud at the source
Date: December 16, 2022
By Colum Lyons, CEO, ID-Pal The transformation of society as a result of the global pandemic is evident in our everyday. The move to digital channels due to lockdowns has permanently changed how we work, how we spend and, of course, how we engage with services online. It fast-forwarded digitalisation in industries with typically traditional...
Combating the rise of financial crimes in payment service providers
Date: November 28, 2022
By Kristina Nikipolska, CAMS (Certified Money Laundering Specialist), Head of AML & Compliance Department of ECOMMPAY Financial crime in eCommerce has been a problem since the very beginning of the industry, but a rise in online shopping during the pandemic has been accompanied by significant increase in fraudulent activity. Approximately £17 billion ($20 billion USD)...
Keep your PSPs close, and your fraud prevention partners closer
Date: September 30, 2022
By Aaron Begner, EMEA General Manager, Forter The payments ecosystem is increasingly dynamic and so too is the fraud landscape that threatens it. The UK is the second-largest country for online transactions in 2022; this is set to continue, despite ongoing global supply chain issues and inflationary pressure. At the same time, this increase in...
Combatting payment fraud with digital accounting tools
Date: September 11, 2022
By Glen Foster, Managing Director, UK and Northern Europe, Libeo The impact of payment fraud Following the COVID-19 pandemic and the transition to digital payments, financial institutions are becoming one of the go-to targets for cyber-attacks, online fraud and scams – with Business Email Compromise (BEC) among one of the highest cited methods of attack...
Facial recognition is the best tool to tackle the increase in financial fraud
Date: August 29, 2022
By Anton Nazarkin, Global Development Director at VisionLabs Financial fraud is on the rise and costs banks billions of dollars a year. Between 2016 to 2020, synthetic fraud[1] losses grew from $6 billion to $20 billion[2]. Moreover, more than half of senior banking officials stated they recovered less than 25% of fraud losses in a...