fraud

Fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. Fraud can violate civil law, a criminal law, or it may cause no loss of money, property or legal right but still be an element of another civil or criminal wrong.

BlockFi to Wind Down Operations, Return Assets to Customers
BlockFi to Wind Down Operations, Return Assets to Customers
October 24, 2023  |  Cryptocurrency

Crypto lender BlockFi has announced that it will wind down its operations and begin returning crypto assets to customers. BlockFi has emerged from bankruptcy and will now...

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Featurespace Unveils AI ‘Large Transaction Model’ to Combat Fraud
Featurespace Unveils AI ‘Large Transaction Model’ to Combat Fraud
October 24, 2023  |  Fraud Prevention

Anti-fraud tech firm Featurespace has introduced TallierLTM, which it describes as the first artificial intelligence (AI) “large transaction model.” The new tool, announced Tuesday (Oct. 24), is the industry’s...

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Enigma CEO: Domain-Specific Regulation Will Shape Future of Payments
Enigma CEO: Domain-Specific Regulation Will Shape Future of Payments
October 24, 2023  |  Regulation

The not-so-secret sauce in the 21st century’s growth engine is a mix of digital innovation and data-decisioning. Digital innovations beget digital gains, and while the...

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Riskified and Plaid Collaborate on Secure ACH Transactions
Riskified and Plaid Collaborate on Secure ACH Transactions
October 23, 2023  |  Partnerships

Riskified, an eCommerce fraud and risk intelligence firm, has partnered with financial data network Plaid to enhance risk protection for ACH bank payments. This collaboration aims...

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Mastercard Targets Friendly Fraud With First-Party Trust Program
Mastercard Targets Friendly Fraud With First-Party Trust Program
October 23, 2023  |  Fraud Prevention

Mastercard has launched a program designed to help merchants battle “friendly fraud.” The company’s First-Party Trust program, announced Monday (Oct. 23), employs “enhanced transaction insights,” artificial intelligence (AI),...

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Entersekt to Authenticate Plata’s Mexico Credit Card Offering
Entersekt to Authenticate Plata’s Mexico Credit Card Offering
October 23, 2023  |  Authentication

Mexican FinTech Plata chose Entersekt to provide authentication services for its new credit card. The partnership will allow for low-friction payment authentication with “risk-aware 3D...

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FTC: Cross-Border Fraud Cost Consumers $5.2 Billion 
FTC: Cross-Border Fraud Cost Consumers $5.2 Billion 
October 20, 2023  |  Fraud Attack

A new report by the Federal Trade Commission (FTC) shows the extent of the problem of cross-border fraud. Since the FTC began monitoring complaints on...

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Digital Wallets Exhibit Highest Increase in Fraud Among All Payment Methods
Digital Wallets Exhibit Highest Increase in Fraud Among All Payment Methods
October 20, 2023  |  Fraud Prevention

Banks in the U.S. report a rapid increase in fraud and fraud losses, highlighting the urgent need for newer and better anti-fraud technologies. The rise...

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Nearly 15% of FIs Cite Complex Regulatory Demands as Top Fraud-Fighting Challenge
Nearly 15% of FIs Cite Complex Regulatory Demands as Top Fraud-Fighting Challenge
October 20, 2023  |  Fraud Prevention

The rise of digital banking and faster digital payment methods has accelerated fraud and financial crime, prompting banks and financial institutions (FIs) to enhance their...

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