To ensure safe, secure transactions that are protected against fraud, retailers moving to EMV have been encouraged by their POS partners to replace or upgrade the network infrastructure, says TNS' Brian DuCharme.

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.

With a growing number of new applications integrated into the fabric of banking and financial services businesses, security throughout the system becomes a critical success factor, says White Hat Security's Craig Hinkley.

The technology addresses both security and hygiene concerns, says Fingerprints' Lina Andolf-Orup.

Axcess Financial is using stronger authentication, studying up on bad actors and planning to use a federal service that automates verification of Social Security numbers.

The U.K.’s six major banking groups are now required to have implemented the new Confirmation of Payee (CoP) scheme for Faster Payments and Chaps as part of a regulatory push to tackle the rampant rise in Authorized Push Payment (APP) fraud.

Tia Ilori, Senior Director of global fraud and breach investigations at Visa, joins us to talk with Michael Moeser, PaymentsSource's senior analyst, about the new attacks and fraud trends that have emerged since the start of the pandemic.

Details about the level of global fraudulent attacks on consumer bank accounts during the coronavirus pandemic are coming into focus with new data from TransUnion.

Always view fraud prevention tactics and strategies within the proper context. Be aware of current economic and societal conditions and analyze how behaviors may vary, says Sift's Jeff Sakasegawa.

While it’s inevitable that fraudsters will continue to hone and change their methods, businesses must continually monitor the factors that affect fraud — from changing consumer behaviors to major economic trends — and the actions they can take to safeguard against them.