Fraud prevention

Fraudsters use different tactics based on their intended victims, and banks like Republic Bancorp and Wells Fargo are targeting the kinds of notices they send — and which channels they direct them to — in response.

Call center data security and compliance provider Semafone has entered a global reseller partnership with cloud-based communications company Avaya to help secure \work-from-anywhere call center models.

Come away better prepared for what’s ahead after hearing Satish Kini and David Sewell of Debevoise & Plimpton and Darin Jarrett, Deputy BSA/AML Officer at American Express, in conversation with Bonnie McGeer, Executive Editor of American Banker, as they explore: •How the new administration might change the BSA/AML Act •Are there easy wins in relieving the burden of suspicious activity reports without undermining effectiveness? •New ways that companies are innovating within AML compliance and risk •What banks are doing to drive next-gen efficiency and effectiveness of risk and compliance

With Microsoft, Equifax and others acknowledging that the SolarWinds hack of U.S. government entities had affected their holdings, security teams and vendors have put the holiday aside while continuing around-the-clock surveillance to ensure no financial services or payments networks have been hacked.

E-commerce fraud prevention provider Forter has raised $125 million in a Series E funding round, pushing the New York-based company's valuation to more than $1.3 billion.

The pilot leverages Keyno’s CVVkey technology that uses a dynamic card verification value 2 (CVV2) code to provide a higher level of security against fraud for online and mobile payments.

The pilot leverages Keyno’s CVVkey technology that uses a dynamic card verification value 2 (CVV2) code to provide a higher level of security against fraud for online and mobile payments.

With time running out, industry actors are looking for ways to maintain the integrity of the infrastructure while recognizing a new banking framework following a no-deal Brexit, says GlobalSign's Arvid Vermote.

Podium is offering chargeback-fraud screening for local businesses taking in-person, offline purchases that use its customer messaging platform and accompanying Podium Payments service.

In a major break from the Payment Card Industry security standards playbook, merchants and service providers using newer technologies would have the opportunity to rewrite network operation and testing procedures when achieving compliance.

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.

Fraudsters have increased their attempts to steal data through email scams since much of the financial services sector moved to remote work when the pandemic began.

The inability for an e-commerce merchant to know about a fraud problem at another merchant checkout page can limit transaction monitoring and security.

Executives and technology analysts offered a host of concerns that are likely to dog credit unions well into the new year.

For the past several years, the concept of sharing transaction data between merchants, processors and issuers has been considered a good security measure to curb fraud. But someone has to compile and compare that data in such a way to not only stop fraud, but assure legitimate transactions are not declined.