Fraud detection

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.

Hackers go in for the kill when challenger banks and others launch retail products. So the companies are forced to step up their defenses — fast.