Fraud detection

Granting a third party access to a bank's systems in exchange for more advanced technology can help prevent fraud, but it can also attract cyberattacks.

The current climate is akin to the Wild West, with little protection for the consumer, and new regulations are needed if the technology is to continue to expand in a safe and sustainable way, argues Mitek's Stephen Ritter.

PNC, Plaid and Venmo have been blamestorming over customer data-sharing issues of access, security and consent.

A shifting fraud landscape and changing consumer expectations will play a part in how credit unions allocate resources toward technology in the new year, according to a prediction from the CUSO Member Driven Technologies.

Yet that figure is relatively low compared with other digital assets such as bitcoin, according to the fintech Elliptic.

Doug Clare explains how the organization uses artificial intelligence to spot crime rings and skimmers.

Faster and real-time payments are finding more and more use cases, but the razor-thin transaction windows are alluring to fraudsters who want to make a swift getaway with stolen funds.

Experian is adding DataVisor, which specializes in advanced machine learning, to its CrossCore platform to identify unusual patterns signaling new fraud activity.

With so many data breaches targeting merchants, banks and credit unions should not assume they are in the clear.

E-commerce and multi-channel fraud prevention software provider Riskified has received $165 million in a Series E funding round led by global growth investor General Atlantic.

With so many data breaches targeting merchants, banks should not assume they are in the clear. Banks are, after all, where the money is.

As consumers are increasingly moving to mobile devices to conduct financial transactions, they are enticing fraudsters to follow them into the mobile channel, according to new research from TransUnion's iovation unit.

The goal is to get a better understanding of past incidents, thereby arming the Fed to improve its response as more companies implement faster payments.

Though synthetic identity fraud is down across the industry, there's been an uptick in such attacks targeting credit unions.

Balances for accounts suspected of synthetic fraud inched up about 1% in the second quarter from a year earlier, according to TransUnion.

Fincen and others say third parties are proving to be treasure chests for crooks who create synthetic identities, but aggregators argue they help detect risk banks can’t see.

Microsoft Corp., Mastercard Inc. and the Hewlett Foundation are funding a new organization that is planning to help dissidents and other vulnerable groups across the world defend against hackers.

Kenneth Blanco expressed concern in a speech about cyber criminals using "synthetic identities" to commit fraud with data stolen from fintech platforms.

Fair Isaac Corp. has added a platform alongside its 25-year-old FICO Falcon fraud-detection solution for credit and debit cards that aims to ferret out risky and fraudulent real-time payments.

There were signs Kathy Kraninger would continue a rollback of consent orders and investigations, but many observers see an aggressive approach reminiscent of the Obama era.