Payment fraud

Fraudsters have access to vast quantities of personal identifiable information and can look very authentic. Therefore, it is better to diversify and utilize multiple sources of data to help protect your business.

APIs need to be designed with features such as defenses, proper authentication, batching, and throttling in mind, says Shape Security's Jarrod Overson.

Modern technology is making it easier for fraudsters to trick consumers into believing they are making payments from their accounts to legitimate providers, but governing bodies in the U.K. are putting the brakes on rushing to create a new fund to compensate victims of those scams.

Fraud attacks and their avenue of entry are generally regarded as mysteries to most of the companies that suffer from them.

Doug Clare explains how the organization uses artificial intelligence to spot crime rings and skimmers.

Faster and real-time payments are finding more and more use cases, but the razor-thin transaction windows are alluring to fraudsters who want to make a swift getaway with stolen funds.

If the Fed's new service doesn't effectively prevent existing types of fraud, we might even see fraud increase thanks to the instant payments concept, says Chargeback 911's Monica Eaton-Cardone.

Experian is adding DataVisor, which specializes in advanced machine learning, to its CrossCore platform to identify unusual patterns signaling new fraud activity.

With so many data breaches targeting merchants, banks and credit unions should not assume they are in the clear.

With so many data breaches targeting merchants, banks should not assume they are in the clear. Banks are, after all, where the money is.

Airlines have become a magnet for online fraud, as criminals refined methods to tap channels with higher payoffs.

Issuance of securities backed by the ostensible Libor replacement hit by money market turmoil; Jho Low will surrender luxury assets.

While sophisticated computer algorithms are increasingly used in the fight against fraud, criminals are still exploiting various loopholes to access consumer card and bank details, particularly for those opening new accounts.

Anticipating demand from internet of things and advanced smartphones, Fingerprint Cards AB has launched a new multi-biometric technology platform that combines iris screening with facial recognition.

As the number of payment types and channels increase, manual processes to handle fraud can rapidly become unmanageable, says The ai Corporation's Oliver Tearle.

As consumers are increasingly moving to mobile devices to conduct financial transactions, they are enticing fraudsters to follow them into the mobile channel, according to new research from TransUnion's iovation unit.

New tech can help banks with less cumbersome systems track suspicious activity more effectively.

While doing the bare minimum means that companies avoid receiving hefty non-compliance fines, it doesn’t achieve a great deal more, says FIME's Arnaud Crouzet.

A new breach adds to a growing cybersecurity ecosystem that is full of sophisticated and connected networks which have been fed by each preceding breach, says Arkose Labs’ Brendan Brummer.

The goal is to get a better understanding of past incidents, thereby arming the Fed to improve its response as more companies implement faster payments.