A global law enforcement operation has resulted in the arrest of 281 suspects allegedly involved in business email compromise scams. The announcement comes on the same day as the FBI's Internet Crime Complaint Center says that losses from BEC scams have hit $26 billion and are continuing to rise.
Fraud is scary, and there are many valid reasons for merchants to decline suspicious transactions in the name of fraud prevention. But often, in the quest to avoid abuse, risk-averse vendors take defensive measures too far.
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How false declines leave money on the...
Online fraud is becoming more sophisticated as cyber-criminals try to stay a step ahead of fraud solutions and tools. Not only are ATO attacks tough to spot, they can also cause harm that goes beyond just stolen goods and chargebacks.
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How fraudsters get credentials to...
In the competitive world of eCommerce, online retailers must provide an optimal customer experience or risk losing business. Many are seeing hard-earned revenue fall victim to costly credit card chargebacks.
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Why chargebacks are filed
The ramifications of too many...
Has your financial institution recently been
through a regulatory audit or thematic review
where weaknesses were identified with your audit
processes? This is now an increasingly common
scenario for Chief Anti-Money Laundering Officers
(CAMLO), Bank Secrecy Act Officers (BSA Officers),
or other similar positions...
From open banking to emerging technology and the evolving needs of a new generation of on-the-go customers, financial institutions are experiencing unprecedented change. This means the use of advanced technology is on the rise as every institution searches for the next big thing to maintain a competitive edge.
How...
As account opening continues to transition from physical to digital channels, financial institutions and other organizations must optimize the digital experience of applicants in order to compete while simultaneously mitigating fraud risk that is on the rise thanks to some of the same digital channel benefits enjoyed...
As account opening continues to transition from physical to digital channels, financial institutions and other organizations must optimize the digital experience of applicants in order to compete. At the same time, fraud is on the rise thanks to some of the same digital channel benefits enjoyed by consumers:...
As account opening continues to transition from physical to digital channels, financial institutions and other organizations must optimize the digital experience of applicants in order to compete. At the same time, fraud is on the rise thanks to some of the same digital channel benefits enjoyed by consumers:...
Authentication innovation is still in its infancy, and most companies are still combining more traditional passwords and PINs with cutting edge
biometrics or contextual decisioning methods. The combination brings new capabilities to multi-factor authentication, but doesn't necessarily produce the best possible...
The digital shift is increasing the need for more sophisticated privacy and data protection measures. Several major institutions have seen their information security compromised in recent years as cyberattacks and fraudulent activity show no sign of slowing down. With PSD2 regulations now in effect, companies are in...
Defending against tomorrow's mobile attacks is a moving target; but new technologies and strategies, including behavioral biometrics and machine-learning-based analytics, are allowing financial institutions to reduce their fraud losses while enhancing their customer experience.
Based on the latest results of ISMG's...
True cybersecurity is about looking for what the new threats are and staying on top of those. And when it comes to fraud prevention, staying focused on the cybercriminal and the fraudster is what protects your customers and organisation.
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The most prevalent fraud types and...
As the global threat landscape shifts, so does Kaspersky Lab. Whereas Kaspersky Lab traditionally has been known for its cutting-edge research on threat trends and malware evolution, now the focus is expanding to encompass the new types and vectors of fraud impacting enterprises, says Emma Mohan-Satta, a Fraud...
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