Fraud detection

With 14 million trades a day on Nasdaq and innumerable chats and emails, the stock market's risk and surveillance officers can't look at everything. Enter artificial intelligence.

Tesco Bank has confirmed that over the weekend, some of its customers' accounts were subject to online criminal activity, in some cases resulting in money being withdrawn fraudulently.

Online lenders' struggle with fraud is driving them to join new networks designed to find links between fraudulent loan applications and signs of borrowers trying to obtain multiple loans simultaneously.

The cyberattack on internet service provider Dyn that shut down websites all over the world showed the dangers posed by internet-connected things. That includes many machines commonly used in offices and branches.

Combining biometrics with device ID, social data, behavior patterns and other factors builds a strong foundation for artificial intelligence to conduct identity proofing and transaction authorization.

It's time not only to hold banks accountable for their security, but also to provide meaningful regulatory guidance on how to achieve security.

Financial services IT teams must think like cybercriminals and develop an offensive approach to security at a time when threats are growing in frequency and sophistication.

Swift is taking another step to protect the payment system following a multimillion-dollar cybertheft early in the year.

Fraud analytics, e-signatures, consent tools, artificial intelligence and notifications are all being floated as possible defenses against employees falsifying account openings and product sales.

There's no tech solution in the world that can prevent cybersecurity attacks. To mitigate risks, however, banks can apply four controls after they first determine their risk tolerances.