Fraud Prevention

Banks and Payment Firms Tap AI to Combat Fraud Amid Surge in Sophisticated Financial Crime
Banks and Payment Firms Tap AI to Combat Fraud Amid Surge in Sophisticated Financial Crime
September 14, 2023  |  Fraud Prevention

The rise of digital banking and faster digital payment methods has brought about increasingly sophisticated fraud and financial crime.  Against that backdrop, financial institutions (FIs)...

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Finastra Debuts Compliance-as-a-Service to Combat Fraud
Finastra Debuts Compliance-as-a-Service to Combat Fraud
September 14, 2023  |  Fraud Prevention

Financial software firm Finastra has debuted a “Compliance-as-a-Service” solution for banks. The new tool, announced by the British company Thursday (Sept. 14) and available on Microsoft Azure, includes real-time...

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Fraud Losses From Impersonator Scams Double For Largest US Banks
Fraud Losses From Impersonator Scams Double For Largest US Banks
September 14, 2023  |  Fraud Prevention

Financial institutions (FIs) have generally found fraud and financial crime to be continually more sophisticated. The rise of digital banking and ever-faster digital payment methods...

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Europeans’ Need for Secure Everyday Apps Underscores High Value Placed on Data Privacy
Europeans’ Need for Secure Everyday Apps Underscores High Value Placed on Data Privacy
September 13, 2023  |  Mobile Applications

In today’s digital age, making daily life easier and more productive is the order of the day. That desire for convenience has seen consumers around...

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Visa Investment Helps Form3 Expand Anti-Fraud Efforts
Visa Investment Helps Form3 Expand Anti-Fraud Efforts
September 12, 2023  |  Security & Fraud

Account-to-account (A2A) platform Form3 says Visa is a believer in its anti-fraud efforts. To that end, the payments giant has invested in the British company...

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CertifID Raises $20 Million to Combat Real Estate Wire Fraud
CertifID Raises $20 Million to Combat Real Estate Wire Fraud
September 12, 2023  |  Fraud Prevention

Wire fraud prevention company CertifID has raised $20 million in a Series B funding round. The financing, announced Tuesday (Sept. 12), will help the Texas-based firm develop fraud prevention...

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PYMNTS Intelligence: Countering Rising Fraud Threats to CUs
PYMNTS Intelligence: Countering Rising Fraud Threats to CUs
September 07, 2023  |  Digital Banking

Fraud attacks against banks and credit unions (CUs) are nothing new, but consumers are taking them much more seriously than they used to. A study...

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Norway’s Strise Raises $10.8 Million to Expand AML Offering
Norway’s Strise Raises $10.8 Million to Expand AML Offering
September 06, 2023  |  AML

Strise has raised $10.8 million to bring its anti-money laundering technology to new markets. London-based venture capital firm Atomico, which led the Series A round, announced the...

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Visa: AI Helps Combat the ‘Democratization’ of Cybercrime and Ransomware
Visa: AI Helps Combat the ‘Democratization’ of Cybercrime and Ransomware
September 05, 2023  |  Fraud Prevention

Michael Jabbara, vice president and global head of fraud services at Visa, told PYMNTS the fraud game is changing. Up until recently, he said, “you...

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