Articles with tag like: online fraud

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A pandemic's impact on payment and merchant risks and some best practices to deal with them

Voice of the Industry | Online Payments | 17 Jan 2022

Wave Financial’s VP on Fraud and Risk, Angie Dobbs, talks about the risks and challenges the small business community experienced during the COVID-19 pandemic and the way they were handled by payments facilitators and processors

COVID-19, online fraud, SMEs, fraud detection, fraud prevention, payment processing

The need for advanced authentication: why banks and FIs should consider an upgrade of their authentication methods

Voice of the Industry | Digital Identity, Security & Online Fraud | 14 Jan 2022

Michal Wawrzynski, Sales Manager at OneSpan, explains the benefits of advanced authentication methods in the financial services sector

multi-factor authentication, online authentication, digital banking, cybersecurity, fraud management, online fraud

MonetaGo goes live in Japan

News | Online Payments | 11 Jan 2022

Fintech solution provider MonetaGo has launched its operations in Japan led by the company’s Managing Director Japan, Munetoshi Yamada.

expansion, digital payments, fraud management, fraud detection, fraud prevention, online platform, online fraud

Global fraud trends, COVID-19, and the importance of collaboration

Voice of the Industry | Online Payments | 10 Jan 2022

Tracy Kobeda Brown, VP at Merchant Risk Council, talks about a shift in global fraud patterns as a result of the COVID-19 pandemic and emphasises on the importance of worldwide collaboration to optimise fraud mitigation practices

fraud management, fraud detection, online fraud, MRC, fraud prevention

LexisNexis Risk Solutions report: fraud still on the rise

News | Digital Identity, Security & Online Fraud | 07 Jan 2022

US-based LexisNexis has released its True Cost of Fraud Study: Financial Services & Lending 2021 report.

LexisNexis, fraud management, fraud detection, online fraud, identity fraud, report

Over USD 14 bln worth of crypto stolen in 2021

News | Digital Identity, Security & Online Fraud | 06 Jan 2022

Scammers took home a record USD 14 billion in cryptocurrency in 2021, thanks in large part to the rise of DeFi platforms, according to a Chainalysis study.

online fraud, money laundering, DeFi, cryptocurrency, financial crime

Pix's new refund mechanism receives user complaints over procedural bureaucracy

News | Digital Identity, Security & Online Fraud | 21 Dec 2021

The Central Bank of Brazil's Pix refund mechanism for suspected fraud has received complaints, with some users struggling to get restitution on their transactions.

report, PIX, cybersecurity, instant payments, online fraud

Grim Finance hacked for crypto worth USD 30 mln

News | Cryptocurrencies | 20 Dec 2021

Grim Finance, a DeFi protocol, was hacked for USD 30 million worth of tokens on 18 December 2021, it confirmed, in an ‘advanced attack.’

online fraud, crypto, DeFi, hacking, digital assets

New scamming approach to grow exponentially during holidays

News | Digital Identity, Security & Online Fraud | 17 Dec 2021

New research from fraud experts, Arkose Labs, has revealed that there were over two billion Credential Stuffing attacks during 2021.

cybersecurity, online fraud, research, financial crime

The rise of RiskOps in 2022

Voice of the Industry | Digital Identity, Security & Online Fraud | 13 Dec 2021

Ken Jochims, Director of Product Marketing at Revelock, a Feedzai company, discusses how the increasing complexity of digital fraud trends will give rise to ‘RiskOps’ – risk management through a multi-layered approach to fraud – next year

digital banking, online fraud, mobile banking, cybercrime, social engineering

Identity theft crime rings are increasing, as per Onfido's new report

News | Digital Identity, Security & Online Fraud | 08 Dec 2021

Global identity verification company Onfido has published its 2022 Indentity Fraud Report, which reveals a new wave of organised crime entering the marketplace.

Onfido, research, identity theft, online fraud, digital identity, identity verification

Bitmart crypto exchange hacked for USD 196 mln

News | Cryptocurrencies | 06 Dec 2021

Cryptocurrency exchange Bitmart has been hacked with losses estimated at USD 196 million in various cryptocurrencies.

cryptocurrency, hacking, online fraud, cryptocurrency exchange, Ethereum

CISA, FBI recommend fraud prevention measures ahead of Thanksgiving

News | Digital Identity, Security & Online Fraud | 25 Nov 2021

US-based Cybersecurity and Infrastructure Security Agency and the FBI have warned against ransomware attacks around Thanksgiving holiday and recommend safety measures.

ransomware, digital identity, fraud prevention, FBI, online fraud

UK to make APP fraud reimbursement mandatory

News | Digital Identity, Security & Online Fraud | 22 Nov 2021

UK’s government is to legislate for mandatory reimbursement for victims of authorised push payment (APP) scams after hundreds of millions of pounds were stolen in first half of 2021.

regulation, online fraud, scam, data sharing

Fraugster partners with IXOPAY for improved secure payments

News | Digital Identity, Security & Online Fraud | 18 Nov 2021

Austrian-based payment orchestration platform IXOPAY has partnered with AI fraud prevention Fraugster to provide merchants with fraud prevention and compliance solutions.

Fraugster, IXOPAY, partnership, fraud management, fraud detection, online fraud

US, Israel to combat ransomware attacks

News | Digital Identity, Security & Online Fraud | 18 Nov 2021

The US Treasury Department has announced a partnership with Israel to combat ransomware, with the two countries launching a joint task force to address cybersecurity, according to Reuters.

ransomware, partnership, online fraud

USD 56 mln in seized crypto sold as to compensate victims of fraud

News | Digital Identity, Security & Online Fraud | 18 Nov 2021

US-based authorities have planned to liquidate approximately USD 56 million in fraud proceeds seized from BitConnect, a cryptocurrency, who consented to the seizure, according to the DOJ

online fraud, cryptocurrency, digital wallet

Reducing fraud and mitigating misdirected payments with CoP

Voice of the Industry | Digital Identity, Security & Online Fraud | 28 Oct 2021

David-Jan Janse, CEO of SurePay, provides insights on how Confirmation of Payee can reduce fraud and mitigating misdirected payments

Confirmation of Payee, online fraud, digital payments

Retailers anticipate fraud spike ahead of peak shopping season

News | Digital Identity, Security & Online Fraud | 25 Oct 2021

New research from Netherlands-based payment service provider Adyen has found that half of UK’s retailers are expecting increased fraud attacks in the Q4 shopping period.

digital identity, online fraud, research, retail, data breaches, Adyen

Mitigating credential stuffing must be a top priority for businesses

Voice of the Industry | Digital Identity, Security & Online Fraud | 20 Oct 2021

Kevin Gosschalk, CEO at Arkose Labs, believes that businesses deserve greater protection, commitment, and partnership from their security vendors to thwart attackers' efforts, which is especially essential during the holiday season

cybercrime, online fraud, fraud prevention, account takeover