Fraud detection

Financial companies that derive most of their revenue from online and mobile channels have substantially higher fraud costs than do similarly sized companies that rely less on the internet, according to a new report.

Aspiration Bank relies on software tools to pull data from diverse sources to prevent fraud in account applications.

In Zelle’s national advertising campaign, the bank-run P-to-P network spotlights consumers paying a personal trainer, a babysitter and a neighbor. It sets an expectation that Zelle can be used like a credit card, and scammers have figured out how to exploit this trust.

It can be hard for bankers to carve out opportunities to tackle complex problems in today’s always-on culture, but it’s important for getting ahead.

Foreign operatives' alleged use of fraudulent financial accounts to try to influence the U.S. political system shows again how difficult it is for banks to truly know their customers.

A small legal case in California brings a warning to banks: Be careful who you report for fraud.

The results suggest that even as financial institutions implement more sophisticated fraud-mitigation techniques, they have not been keeping pace with criminals.

In the rising tide of e-commerce fraud, one of the trickiest areas to control is so-called friendly fraud, particularly within the growing markets for digital goods.

Having chargebacks have been a consistent thorn in merchants' sides for much of the past decade — and to make matters worse, while 82% of merchants say they actively dispute chargebacks, 24% have no idea what their win rate is.

Dishonestly taking advantage of false membership in a group to score a discount sounds like something most people wouldn't dare do, but it's enough of a threat to retailers that investors see future returns in technologies that guard against it.

Despite some declines, payments fraud remains a major concern for credit unions. Here's how experts suggest tackling the problem.

In the ever-changing era of cyber threats against payment and personal data, it is dangerous for companies or financial institutions to spend a lot of time or money establishing defenses only against external threats.

E-commerce merchants battling fraud that comes from multiple directions often need to use several different solutions that don’t always mesh well, bogging down the checkout process and inadvertently blocking good transactions.

In a move rare for the industry, the bank bought a team of data scientists to bolster its artificial intelligence efforts in areas including product recommendations and fraud prevention.

San Francisco-based Arxan Technologies, which got its start in 2001 providing security tools to protect gaming and medical-device applications, says financial services companies are one of the fastest-growing sectors seeking help in barricading their mobile apps from hackers.

North Korean counterfeits haven't been documented since 2008, but recent sanctions may have pressured the country to return to making undetectable U.S. cash.

Widespread data breaches have sparked a rise in account-takeover fraud using stolen consumer credentials, prompting merchants to crack down on suspicious purchases. But too many legitimate customers are getting caught in the process.

The spread of Alexa, Siri, Google Assistant and Samsung's Bixby is changing the way consumers interact with technology. Behind the scenes, artificial intelligence is doing more than ever to handle and protect payments.

Call centers are becoming a prime target for fraud due to some shockingly lax controls and the ease of social engineering attacks in an environment where employees are trained to put the customer first.

For most retailers heading into this year’s holiday-season sales crunch, the epic Equifax data breach was only the latest in a series of escalating threats that are having a profound effect on the way they handle payments.