Fraud Prevention

Latest Account Takeover Scheme Targets Cardless ATM Withdrawals

When banks started rolling out cardless ATM withdrawals, the idea was to bring a whole new level of convenience and security to increasingly mobile consumers. But according to a recent industry report, ATM debit card fraud has jumped 10 percent...

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Mike Cichon
Posted May 9, 2018
Fraud Prevention

Why This Could Be the “Worst Ever” Season for Tax Fraud

This year’s weird D.C. holiday-affected tax filing deadline is now behind us, and as millions of filers wait for refunds, an ominous and looming fact could affect that much-anticipated refund check. There was a staggering 60-percent increase in stolen taxpayer...

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Frank Teruel
Posted May 1, 2018
Mobile

Slowing Mobile Banking Fraud to Reverse the Decline in Active U.S. User Growth

U.S. consumers’ fear of mobile banking fraud is a major factor in the declining growth of active users over the past five years. This troubling trend, as well as other emerging threats, could put U.S. banks’ mobile playbooks in jeopardy....

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Mike Nathan
Posted April 27, 2018
Fraud Prevention

Transaction Laundering: A Growing Fraud Risk for Merchants

Author Patrick Reames is just one of the latest victims of transaction laundering — and he’s the one stuck with the bill. In February, Reames had received a 1099 tax form from Amazon reflecting his $24,000 cut of book sales...

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Alisdair Faulkner
Posted April 26, 2018
Fraud Prevention

Online Financial Fraud Doesn’t Have an Age Bias

Online financial fraud is becoming more difficult to spot as fraudsters and cybercriminals create more sophisticated schemes, seemingly on a daily basis.

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Alisdair Faulkner
Posted April 13, 2018
Fraud Prevention

“Low and Slow” Is How the Credit Card Fraudsters Roll

Fraudsters are increasingly taking a low-and-slow approach to credit card fraud, making small recurring charges that too many consumers tend to ignore.

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Frank Teruel
Posted April 5, 2018
Fraud Prevention

Fraud Protection for Government Agencies

If you think “Meltdown” and “Spectre” are scary, just take a look at some of the other threats facing government agencies this year. As The Hill reports, the Department of Homeland Security has issued guidance on mitigating these twin vulnerabilities,...

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Mike Cichon
Posted March 13, 2018
Fraud Prevention

Life, Annuities and Retirement Services: New Targets for Account Takeover

Life, annuity and retirement services could soon get schooled in account takeover (ATO) attacks the same way banks did before them—if key lessons from today’s digital identity revolution go unheeded. As it stands, 2018 is already shaping up to be...

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Frank Teruel
Posted March 7, 2018
Digital Identity

The Role of Digital Identity in Successful Omnichannel Initiatives

It turns out that businesses taking digital identity-centric approaches to their omnichannel business initiatives may be better positioned for secure, sustainable growth than those relying on device intelligence alone. At the root of the problem is a prevalent misperception that...

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Armen Najarian
Posted March 2, 2018
Fraud Prevention

Machine Learning Techniques for Fraud Analytics, Part 2

In part 1, we considered how to tackle first-party fraud. In this post, we will look at probably the harder type of fraud to predict, which therefore requires more advanced techniques – third-party fraud. When the Fraudster is Not Your...

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Mike Nathan
Posted February 20, 2018
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