Fraud detection

Banks are grappling with new challenges in trying to work with voice assistants like Alexa in Amazon's Echo to allow customers to check balances and perform other tasks. But with voice banking on the horizon, banks cannot afford to stall their efforts.

The time banks have to investigate red-flagged credit payments has shrunk from several days to a few hours and fraudsters have already taken notice.

Banks have used biometrics for about a decade, but there are a number of hurdles that banks, device makers and customers need to overcome before passwords are history.

Fraud involving third parties and advance fees can be vexing for merchants. But doing lots of homework can mitigate the threat.

At a time when individual accountability at corporations is mounting, here is how compliance officers can detect and prevent fraud occurrences within their own firms.

The decision to rewrite the regulation came two days after a hearing in which New York bankers unleashed a litany of complaints about the regulation to Empire State lawmakers.

As online shopping and card fraud increase, startups offering easy-to-use "burner" cards could see strong traction.

The core-tech vendor Fiserv has agreed to buy Online Banking Solutions in Atlanta.

When BankMobile, the brainchild of Jay Sidhu and his daughter Luvleen, relaunches on a new platform in January, security — especially for the onboarding process — will be completely redesigned.

Behavioral biometrics has already stopped several million dollars worth of online banking fraud at National Westminster Bank in London.

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some of its customers' accounts were subject to online criminal activity, in some cases resulting in money being withdrawn fraudulently.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.