With the increased shift toward digital payments, which has only been accelerated by the COVID-19 pandemic, manual data analysis and threat detection methods have failed to stop the fraudsters, says The ai Corporation's Oliver Tearle.

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.

Good communication is integral to facilitating collaboration between departments and offering a reminder that security is not achieved solely within the IT department; rather, it is a team effort, says KnowBe4's Javvad Malik.

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.

Before bringing biometrics to any new payment form factor, careful consideration is needed to ensure the technology can be seamlessly integrated into the existing infrastructure, while maintaining the highest levels of security, says Fingerprints' Henrick Nilsson.

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.