Deepfake technology, powered by artificial intelligence (AI), is reportedly becoming a favored tool for criminals engaged in imposter scams, posing a significant threat to individuals and the banking industry. This surge in cybertheft and financial scams has prompted regulators, law enforcement agencies and financial institutions...
Card not present (CNP) fraud is on the rise. Fraudsters are adept and adapting to the paths of least resistance when it comes to scamming merchants, issuers and consumers. But there’s also a danger tied to “friendly fraud,” a $331 billion problem decimating revenues and...
November 21, 2017
Card not present (CNP) fraud is on the rise. Fraudsters are adept and adapting to the paths of least resistance when it comes to scamming merchants, issuers and consumers. But there’s also a danger tied to “friendly fraud,” a $331 billion problem decimating revenues and trust in the eCommerce ecosystem, as Ethoca CMO Keith Briscoe tells PYMNTS.
July 23, 2024
Visa’s investments in artificial intelligence (AI) and other technology reportedly enabled the payments processor to block 80 million fraudulent transactions worth $40 billion in 2023. Charles Lobo, regional risk officer for Visa in Central and Eastern Europe, Middle East and Africa, shared these figures with Reuters, according to a report posted Tuesday (July 23). “Now […]
August 22, 2023
Deepfake technology, powered by artificial intelligence (AI), is reportedly becoming a favored tool for criminals engaged in imposter scams, posing a significant threat to individuals and the banking industry. This...
