Payment fraud

At a New York Fintech Week event, speakers urged fintechs to better understand the criminal mindset and to use artificial intelligence to detect and thwart fraud.

Digital transaction risk draws attention to dynamic CVVs for cards.

The payment company says machine learning is making progress in fighting card testing, which crooks use to determine how ripe a payment account is for theft.

As regulators and Congress push for stronger consumer protections as losses mount, payment experts say there are steps companies should be taking now to respond.

Letitia James, the New York state attorney general, sued Citigroup and argued it should be liable for fraud cases involving consumer wire transfers. But Citi said the AG's view would bring about a "sea change in banking law."

Cryptojacking is a particularly dangerous attack, but there are ways to fight back, Marc Laliberte of WatchGuard writes.

The digital migration caused new risks, and new responsibilities for security professionals.

As contactless payments skyrocket, the chance for fraud gets larger, says ClearSales's Rafael Lourenco.

While the eventual emergence from lockdown will help ease the pressure on overworked compliance departments, there is still an obvious need for tools that will make the anti-money laundering process simpler and stress-free, says SmartSearch's Martin Cheek.