Tagged: fraud

March 10, 2025 @ 5:57 pm By JD Alois  |  

Anti-fraud platform Alloy says it has added artificial intelligence to its platform to improve fraud prevention while providing actionable information to financial services firms. Founded in 2015, Alloy reports providing services to more than 600 of the world’s largest financial institutions, including Fintechs. Alloy claims… Read More

March 9, 2025 @ 6:40 pm By Omar Faridi  |  

Socure, the AI-driven platform for digital identity verification, fraud prevention, and sanctions screening, announced the launch of its Identity Manipulation Risk Score, the cross-industry predictive risk score designed to stop repeat first-party fraud abusers from “exploiting the digital economy at scale.” This AI-powered capability is… Read More

March 9, 2025 @ 5:13 pm By Omar Faridi  |  

authID (Nasdaq: AUID), a provider of biometric identity verification and authentication solutions, released an extensive new whitepaper detailing innovative approaches to combat the rising threat of deepfakes related fraud in digital authentication systems. The whitepaper, titled “Deepfake Countermeasures,” provides insights into deepfakes as the next… Read More

March 8, 2025 @ 4:23 pm By Omar Faridi  |  

A recent report from blockchain security and analytics firm Chainalysis  highlights the escalating threat of damaging cyberattacks in the web3 and cryptocurrency sector and offers an extensive blueprint for virtual currency exchanges to strengthen their defenses against these malicious activities. The research report leverages insights… Read More

March 6, 2025 @ 6:04 pm By Omar Faridi  |  

Tax refund theft is an annual concern and 2025 brings an elevated risk, according to a TransUnion (NYSE: TRU) analysis. Researchers found that in 2024 there were “970 data breaches in which fraudsters obtained the kinds of personally identifiable information (PII) required for various forms… Read More

February 28, 2025 @ 9:16 am By Tony Zerucha  |  

Recently, payout Fintech Runa launched Runa Assure, a security suite specifically built to fortify payout processes against threats of fraud, cyberattacks, and compliance risks. Runa Assure was purpose-built for instant payout methods, including gift cards, prepaid, and push-to-card. It protects more than two million unique… Read More

February 26, 2025 @ 11:33 am By Omar Faridi  |  

Mastercard’s (NYSE: MA) range of fraud detection tools and solutions help protect and ensure payment security for consumers and businesses. In an evolving digital world, fraud threats seem to be coming from every direction, making it “challenging for Canadians to feel and remain secure.” Launching… Read More

February 25, 2025 @ 9:32 pm By Omar Faridi  |  

In 2024, cybersecurity firm Kaspersky reportedly blocked 26% more phishing attempts worldwide compared to the previous year. Cybercriminals continued to capitalize “on well-known brands like Booking, Airbnb, TikTok and Telegram to steal credentials or install malware.” Additionally, users encountered more than “125 million attacks involving… Read More

February 21, 2025 @ 9:29 am By JD Alois  |  

In January 2024, the then Chairman of the Securities and Exchange Commission (SEC) had his X account hacked. The individual who commandeered the account used his access to announce the approval of Bitcoin ETFs, impersonating Chair Gary Gensler – one day before the SEC intended… Read More

February 19, 2025 @ 10:58 am By JD Alois  |  

Trustfull has announced the launch of Domain Intelligence, a package of services that aims to prevent fraud and enable identity verification all powered by artificial intelligence. Based in Milan, Trustfull was created to support businesses by leveraging OSINT-based fraud prevention solutions. Created in 2020, Trustfull… Read More

February 16, 2025 @ 9:53 pm By Omar Faridi  |  

AU10TIX, a technology firm that’s focused on supporting identity verification and management, released its latest Report on Global Identity Fraud. Obtaining insights from transactions processed around the globe from Jan to Dec 2024, the report uncovers trends in organized identity fraud. “2024: The Year of… Read More

February 14, 2025 @ 12:35 pm By Omar Faridi  |  

Experian‘s research ‘Proactive Defense: Tackling Evolving Fraud Threats’ conducted by Forrester Consulting, surveyed more than 400 senior fraud professionals and decision makers across different countries, such as India, Norway, Denmark, Spain, Italy, the Netherlands and Germany. As mentioned in the update from Experian, a notable… Read More

February 13, 2025 @ 7:40 am By Omar Faridi  |  

Socure, the provider of artificial intelligence (AI) for digital identity verification, compliance and fraud prevention, announced the general availability of its new RiskOS platform. RiskOS builds on Socure’s acquisition of Effectiv by integrating its orchestration and decisioning engine with Socure’s identity verification and fraud prevention… Read More

February 10, 2025 @ 9:28 am By Omar Faridi  |  

Backbase, the global enabler of Engagement Banking, announces a partnership with Feedzai, the provider of financial intelligence solutions, aiming to empower banks to tackle the growing challenge of digital fraud while “maintaining seamless customer experiences.” The collab integrates Feedzai’s Digital Trust solutions with Backbase’s Engagement… Read More

February 8, 2025 @ 6:37 pm By Omar Faridi  |  

Regtech Sumsub has announced a new partnership with TELUS Digital, a tech company deploying better customer experiences, to provide remote employee verification and onboarding processes for its workforce. Sumsub is providing TELUS Digital with a digital tool stack to be implemented across different phases of… Read More

February 8, 2025 @ 10:49 am By Omar Faridi  |  

A five-count criminal indictment was unsealed in federal court in New York charging a Canadian man with “exploiting vulnerabilities” in decentralized finance protocols to “fraudulently obtain about $65 million from the protocols’ investors.” According to court documents, from 2021 to 2023, Andean Medjedovic, 22, allegedly… Read More

February 6, 2025 @ 3:44 pm By JD Alois  |  

Acting CFTC Chairman Caroline D. Pham says there will be no more “regulation by enforcement.” This term has been widely utilized to describe regulatory activity in financial services during the Biden Administration. More specifically, the rise of digital assets created policy hysteria with the government…. Read More

February 4, 2025 @ 10:15 pm By Omar Faridi  |  

Closinglock, a fraud prevention tech provider for the real estate industry, announced it closed a $34 million Series B round. The investment round was reportedly led by Sageview Capital and “supported by Headline and RWT Horizons.” This financing will advance the company’s mission to power… Read More

February 4, 2025 @ 5:13 pm By Omar Faridi  |  

As the threat of fraud rises with the increasing use of generative AI, traditional methods of verifying consumer information have become inadequate according to an update from Nova Credit. A study projects AI-driven fraud losses could reach “$40 billion by 2027, highlighting the urgent need… Read More

February 4, 2025 @ 12:24 am By Omar Faridi  |  

Experian released its Future of Fraud Forecast, revealing emerging fraud threats that could challenge businesses and consumers in 2025. This year’s predictions show that fraudsters will “continue to double down on the digital landscape and leverage Generative AI (GenAI) to commit sophisticated crimes at a… Read More