Featurespace wants to expand its fraud-fighting tool beyond its core audience of banks and payment processors to cover transactions across a broader industry spectrum including retail, gaming and insurance.

Banks use anti-money-laundering and fraud systems to try to catch scams that prey on senior citizens. A few, including Wells Fargo, are working on artificial intelligence that could spot them even earlier.

Fraudsters have evolved their strategies to focus on other flavors of fraud, and its actually encouraging to see retailers are still treating payment fraud as a top-of-mind concern as that evolution happens, according to Håkan Nordfjell, senior vice president of digital banking at Gemalto.

Criminals are getting aggressive when using mobile apps to compromise consumer accounts, and that's causing headaches for execs who bear responsibility for data security.

While biometrics may not reduce payment friction, it does add another layer of consumer protection without producing a substantially adverse effect on convenience, according to Tom Saunders, customer data insights analyst at The ai Corporation (ai).

The problem with bug bounties is that while it can complement vulnerability management programs, it does not offer the comprehensive coverage an enterprise requires, contends Mark Weiner, CMO of Balbix.

The largest banks are expected to soon receive requests to appear before the House Financial Services Committee; banks taking steps to curb scams.

Due to growing consumer expectations for 24/7 digital access and real time decisions, some organizations such as financial institutions and merchants have reduced the more stringent manual application review processes in order to open accounts quickly, according to Michael Lynch, chief strategy officer at InAuth.

Midsize banks have much smaller security budgets, less mature security programs and less robust controls than their bigger counterparts, writes Leigh-Anne Galloway, cybersecurity resilience lead at Positive Technologies.

Protecting P2P and mobile transactions will mean employing fraud protection measures at enrollment and on an ongoing basis, throughout the customer and payment life cycle, writes David Barnhardt, executive vice president of product at GIACT.