Mastercard has introduced what it says are new protections against real-time payment scams. The update to the company’s Consumer Fraud Risk (CFR) solution, announced Tuesday (Sept. 24), uses artificial intelligence (AI) to provide British banks with more visibility to prevent fraudulent transactions. The announcement comes just days ahead...
FICO is working with Jersey Telecom (JT) to push back against authorized push payment fraud. The analytics software company said Wednesday (Sept. 18) it has collaborated with the British Channel Islands-based telecom to develop a solution that allows for “direct, near real-time intervention” to protect customers against fraud. “FICO and...
Today’s rapidly evolving payments and financial landscape brings with it both challenges and opportunities. And the challenges and opportunities center around effective authentication, as the need for advanced security measures to keep pace with the evolving payment methods and fraud tactics becomes an imperative. That’s what Gerhard...
A British treasury official has reportedly criticized proposed fraud reimbursement measures for banks and FinTechs. The plan would require those companies to repay fraud victims as much as 415,000 pounds ($520,760). However, Bim Afolami, City minister for London and economic secretary to the Treasury, told the...
May 24, 2024
Today’s rapidly evolving payments and financial landscape brings with it both challenges and opportunities. And the challenges and opportunities center around effective authentication, as the need for advanced security measures to keep pace with the evolving payment methods and fraud tactics becomes an imperative. That’s what Gerhard Oosthuizen, chief technology officer at Entersekt, told PYMNTS for the “What’s […]
March 21, 2024
It’s often said that history repeats itself. It’s hard to look at the current state of play regarding instant, or real-time, payments in the EU and U.K. right now and...
March 13, 2024
The world’s cybercriminals all share one thing in common: they understand people can be exploited. After all, people make mistakes. They fall for scams, and frequently either ignore or fail...
May 02, 2023
The U.K. has been experiencing a widespread payments fraud epidemic in recent years. And to stem the tide, U.K. regulators are preparing to mandate that banks reimburse victims of authorized...
September 30, 2024
British lenders are reportedly divided over whether to charge scam victims under new fraud reimbursement rules. Beginning Oct. 7, banks in the U.K. will be required to reimburse customers who fall victim to authorized push payment (APP) fraud for sums of up to 85,000 pounds. But as the Financial Times (FT) reported Monday (Sept. 30), those new rules […]
September 24, 2024
Mastercard has introduced what it says are new protections against real-time payment scams. The update to the company’s Consumer Fraud Risk (CFR) solution, announced Tuesday (Sept. 24), uses artificial intelligence (AI) to provide...
September 18, 2024
FICO is working with Jersey Telecom (JT) to push back against authorized push payment fraud. The analytics software company said Wednesday (Sept. 18) it has collaborated with the British Channel Islands-based telecom to develop...
May 20, 2024
A British treasury official has reportedly criticized proposed fraud reimbursement measures for banks and FinTechs. The plan would require those companies to repay fraud victims as much as 415,000 pounds...
