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...
Best practices for protecting mobile banking apps
Mobile banking applications present financial institutions with an opportunity for tremendous revenue growth. They also create an attractive attack vector for bad actors looking to steal the trove of personal information these apps collect. Recent global surveys show...
Despite the growing cybersecurity threat targeting mobile financial services applications, many financial institutions are failing when it comes to protecting their apps. Research conducted by advisory firm Aite Group uncovered widespread security deficiencies among mobile consumer finance apps leading to the exposure...
Fraud is scary, and there are many valid reasons for retail 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. According to industry data, the average merchant loses 5.5% of their revenue to false...
The impact of chargeback rates is abundantly clear and easily measurable, but the financial impact of false declines - rejecting perfectly good customers over fear of fraud - is largely underestimated. In reality, these
mistakes, which are all too common but difficult to track, end up costing merchants significantly...
The advent of faster payments has helped accelerate authorized push payment fraud schemes in which victims are defrauded under false pretenses. Banking regulators are responding to the trend, and Rob Tharle of NICE Actimize offers advice for multilayered defense.
Tharle, a Fraud and Authentication Subject Matter...
The advent of faster payments has helped accelerate authorized push payment fraud schemes in which victims are defrauded under false pretenses. Banking regulators are responding to the trend, and Rob Tharle of NICE Actimize offers advice for multilayered defense.
Machine learning is one of the tools that you should be using as part of a multifaceted fraud strategy at financial institutions. To get value out of ML, you need to have multiple inputs. You have to have an intelligence network and the location to gather all that network intelligence.
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The latest edition of the ISMG Security Report discusses the recent ransomware attack on aluminum giant, Norsk Hydro. Plus, confessions of a former LulzSec and Anonymous hacktivist, and the growing problem of cyber extortion.
Banks can drive real value to their fraud prevention strategies with machine learning and analytics if they cut through the hype. Machine learning can be made intuitive and available directly to fraud experts. A multi-faceted strategy can turn fraud prevention expertise into a revenue generator for the...
Machine learning can play an important role in fraud prevention at financial institutions, says Marc Trepanier of ACI Worldwide, who addresses the challenges involved.
54 percent of survey respondents say their institutions' digital authentication measures are average or below when compared to their peers. And 55 percent rate themselves at average or below when it comes to their institution's current ability to apply the right amount of security to the right transactions at the...
Account takeover is a rapidly growing arena for cybercriminals. How can organizations strengthen both authentication and authorization? Scott Olson of iovation, a TransUnion Company shares his insights.
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