Articles
Banks Cooperating to Combat Fraud in the EU
Fraud in EU countries is evolving. Criminals are increasingly shifting their targets from banks themselves to bank customers through scams like CEO fraud, account takeovers and phishing. Various reports discuss the reasons behind the increase in these customer-centered attacks, but less research has gone into understanding what banks can do to stop...
Building FACT to Help Airlines Fight Fraud
The growth of online payments in the last two decades means that a vast amount of financial information, particularly payment card data, is stored on the Internet. Hackers can break into databases, download the payment card information and then sell it to buyers on the dark web. This stolen card data is...
SIM Swap Fraud: Don’t Be Its Next Victim
For many victims of SIM swap fraud, the first time they learn about the attack is in the hours after their life has been changed forever. It’s an all too common story, the signal bars disappear from your mobile phone, you call the phone number – it rings, but it’s not your...
Auto Lending Fraud: The Lies People Tell on Applications
Financing a car is easy. You pick out your brand-new car. You walk into the finance manager’s office. You give your name, address, social security number and a few other pieces of personal information and you can walk out of the auto dealership with keys to that car, sometimes with little or...
ATO Attacks: What They Are and How to Foil Them
It’s more important than ever for merchants to make sure their customers are returning to make repeat purchases as the e-commerce landscape becomes more saturated. One of the best means for improving customer loyalty is to offer accounts for your online store which customers can use to check out faster, get tailored...
Smyte Leaves Customers in the Lurch
Smyte and Twitter left dozens of the former's clients out in the cold at the end of last month, shutting off the company's API with half an hour's notice following its acquisition by Twitter on June 21. Clients including Zendesk, Musical.ly, Indiegogo and Meetup were impacted by the disruption in service. Smyte...
PayPal and Twitter Buy Anti-Fraud Startups in June
Mergers and acquisition activity took off in the fraud space in June with PayPal's $120 million acquisition of Simility and Twitter's buyout of Smyte. Meanwhile, fraud detection startup CashShield closed a $20 million Series B funding round. PayPal's all-cash deal to acquire Simility is expected to close at the end of the...
How Blockchain Could Disrupt Online Fraud Prevention
People are always talking about how blockchain will change the world and disrupt industries. One of the industries that doesn’t get much attention in the TED talks and blog posts is e-commerce fraud prevention. The core feature of blockchain is the distributed ledger. This ledger records transactions in a database that can...
What Does Machine Learning Mean for Fraud Prevention?
Everyone in fraud prevention must have heard the term machine learning bandied about in discussions about the changing nature of their work. However, the recent hype suggests that some of the people promoting machine learning solutions are either overstating or misrepresenting what the technology is currently doing and what it is capable...