Will large language models such as ChatGPT take cybercrime to new heights? Researchers say AI for malicious use so far remains a novelty rather than a useful and reliable cybercrime tool. But as AI capabilities and chatbots improve, the cybersecurity writing is on the wall.
The false positive rate for detecting check fraud typically is very high because it's such an analog process. To detect fraudulent checks faster, banks need to pair their legacy detection capabilities with image analysis solutions, says Trace Fooshee, strategic adviser with Aite-Novarica Group.
Accenture has bought Morphus to get more intelligence around fraud and other cybercrimes Brazilian criminals are perpetuating in the digital world. The Morphus acquisition will help Accenture customers take on financially motivated cyber fraud and insider threats that are pervasive in Brazil.
First-party fraud is all about intent and banks have to determine whether the person carrying out the transaction is doing it intentionally. That's hard to do for a basic binary decision model, says Steve Lenderman, senior vice president/director of global loss prevention and fraud, BM Technologies.
This discussion on risk management emphasizes the challenges of implementing effective risk management practices in the real world, using the pandemic as a global example of risk management.
Banking Trojans, ransomware, fake finance apps programmed to steal data - the cybercriminal cartels have become more punitive in 2023, escalating destructive attacks on financial institutions. This is just one key finding of the annual Cyber Bank Heists report by Contrast Security's Tom Kellermann.
Improved credit card security has forced fraudsters to look for other channels, and check fraud is proving to be an easier route for them, says Michael Diamond of Mitek Systems. Even worse, new technologies are enabling fraudsters to develop even better counterfeit checks.
BHFO builds for scale, while managing fraud and returns abuse.
One of the largest and most trusted digital outlets of designer clothing, accessories and shoes, BHFO works directly with some of the world’s largest retailers to provide customers the finest brands at the most affordable price.
With skyrocketing...
A comprehensive resource for ecommerce merchants evaluating commerce protection solutions this year.
While the tools available to merchants have historically approached order review and fraud management from the lens of preventing losses, commerce protection has evolved to address the bigger loss for merchants –...
Stay ahead of the curve on fraud trends and protecting revenue.
This report explores emerging fraud trends and provides actionable insights and best practices for retailers planning their response to the new — and increasingly treacherous — fraudsters of 2023.
In this report, retailers will learn...
Inside retail’s reset after the chaos of COVID-19.
You’d think now would be a good time for retailers to rest after two years of scrambling during a pandemic that saw rapid-fire ecommerce growth and dramatic change in consumers’ habits and preferences. But retail doesn’t take a breath.
The State of...
Toys R Us drives customer loyalty with omnichannel protection.
When the COVID-19 pandemic hit, Toys R Us had to scale operations to transform their over 80 retail locations into fulfillment centers for curbside and BOPIS orders, while navigating the complex fraud and abuse landscape that arose as a result.
Read...
Signifyd ranks #1 in payment security and fraud prevention in the latest Digital Commerce 360 Leading Vendors to the Top 1000 Retailers report.
Signifyd ranks #1 in the Payment Security/Fraud Prevention category of the “Digital Commerce 360 2023 Leading Vendors to the Top 1000 E-Retailers” report for the second...
RiskRecon, a Mastercard company that provides cybersecurity risk ratings to enable better third-party security risk management, recently studied the impact of destructive ransomware incidents and the unique tie between ransomware susceptibility and an organization's cybersecurity posture. Kelly White, co-founder and...
Banks are losing hundreds of millions of dollars a year to check fraud - if not more, says David Maimon, professor of criminal justice and criminology at Georgia State University. The major hurdle facing banks is that they are not able to share information with each other about fraudulent checks.
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