With financial institutions (FIs) fortifying their defenses and evolving their strategies against digital payment fraud, criminals are turning to a new weak spot: the customers themselves. Gone are the days of clunky phishing emails riddled with typos. Today’s fraudsters are using advanced social engineering scams...
Transactions have moved more digital, changing the fraud landscape. Financial institutions (FIs) have made real progress in holding off fraudsters attempting to exploit the digital shift. Our multiyear analysis finds that fraud related to more routine digital payments has decreased markedly over the last three...
The fraudsters come in droves, inundating would-be victims across all manner of attack vectors, from phishing scams to bots. And in the process there’s a significant amount of information being thrown at banks and consumers across digital channels, said David Excell, founder of Featurespace, in...
The fraudsters are getting ever bolder — and attacking businesses and financial institutions (FIs) at scale. Part of their secret to success is their ability to adapt. Which raises the question: How can the good guys adapt? They can. Andrew Stucchio, global head of network...
When it comes to digital commerce, payers and businesses are clear on one thing: they want checkout to be fast, safe and simple. But while clicking “pay” and moving on sounds great, in practice it’s rarely that smooth. Checkout friction — the dreaded lags, glitches...
Given the chance, most consumers will choose digital payments over paper checks. Yet the check endures, expensive to make and mail and manage, and they often sit uncashed at the back of a drawer for weeks and even months. And yet, as Rusty Pickering, president...
Procurement fraud is a growing problem in B2B transactions, and it’s even hitting Uncle Sam. With the recent news that six IT contractors have been charged for their roles in “schemes to rig bids, defraud the government and pay bribes and kickbacks in connection with...
Transactions are built atop a first principle of trust. And the faster transactions happen, the stronger that trust needs to be. As digital payments evolve to meet consumers’ expectations for speed and convenience, fraud remains a central challenge for financial institutions and their clients. The...
Corsight has launched a solution that uses facial recognition and artificial intelligence (AI) to combat a form of retail theft in which employees give unauthorized discounts or free items to people they know. The company offers a module that helps combat this insider fraud —...
