Fraud detection

“If you get your credit decisions right and you manage fraud well, you can run a very efficient bank. That’s an area where AI is very applicable,” Toronto-Dominion Bank's chief AI officer says.

Refinitiv, a global risk intelligence firm, has agreed to buy Giact, a company founded by a brother-and-sister team in Allen, Texas, in 2004 to enhance payment fraud protection and identity verification for banks and corporations.

Mastercard has rolled out a set of AI-powered tools to thwart fraud and data breaches across banks' ecosystems, particularly to benefit acquirers’ online merchants.

Fraudsters have increased their attempts to steal data through email scams since much of the financial services sector moved to remote work when the pandemic began.

As global e-commerce grows and more sellers are attracted to the marketplace concept, it's become a challenge to keep fraudulent sellers out.

The inability for an e-commerce merchant to know about a fraud problem at another merchant checkout page can limit transaction monitoring and security.

At a time when contactless payments via QR codes are on the rise, Incognia is launching a fraud protection solution for payments providers, retailers and restaurants.

Four global banks have joined American Express Ventures in contributing to BioCatch’s Series C fundraising round and earning themselves seats on its newly formed Client Innovation Board.

As many businesses and consumers have been forced to deal with the difficult conditions thrust upon them by the COVID-19 pandemic, so too have fraudsters needed to make adjustments just to continue their life of crime.

TransUnion is expanding the geographic reach of its instant Document Verification service in response to the pandemic, with more users requiring ID confirmation from remote locations as fraud risks hit new highs.