Fraud detection

David Heun, associate editor of PaymentsSource, talks to Phillip Dunkelberger, president and CEO of Nok Nok Labs, about the latest developments in data security. Nok Nok is a founding member of the Faster Identity Online alliance, or FIDO.

Though the lower-ticket sales in fast food traditionally weren’t a large fraud magnet, that’s changed as fraud expanded to new channels during the pandemic.

Fraudsters have increasingly targeted financial services, online dating sites and social media since the end of the holiday season.

Fraudsters have increasingly targeted financial services, online dating sites and social media since the end of the holiday season.

PaymentSource's Daniel Wolfe sits down with Carey O'Connor Kolaja, AU10TIX's new CEO to discuss the rise in synthetic fraud, the fastest-growing financial crime, and how payments security has been changed by the pandemic.

E-commerce merchants may need more data to ensure they are not turning down sales from first-time online shoppers.

The widespread shift to e-commerce and touchless payments during the pandemic has escalated fraud risk in those channels, including the possibility of fraudsters combining altered photos with synthetic ID, Experian warns.

“If you get your credit decisions right and you manage fraud well, you can run a very efficient bank. That’s an area where AI is very applicable,” Toronto-Dominion Bank's chief AI officer says.

Refinitiv, a global risk intelligence firm, has agreed to buy Giact, a company founded by a brother-and-sister team in Allen, Texas, in 2004 to enhance payment fraud protection and identity verification for banks and corporations.

Mastercard has rolled out a set of AI-powered tools to thwart fraud and data breaches across banks' ecosystems, particularly to benefit acquirers’ online merchants.