ComplyAdvantage says it is using artificial intelligence (AI) to ferret out financial crime. The fraud prevention firm announced Tuesday (May 16) the release of Fraud Detection, a tool that uses machine learning algorithms to detect and prevent scammers amid a rise in payments-based fraud. “Banks...
CCC Intelligent Solutions and Verisk have partnered to combat a $308 billion problem: insurance fraud. The companies announced their partnership Tuesday (May 9), saying it would integrate the anti-fraud analytics from Verisk’s claims fraud detection solution with CCC’s claims platform. “This integration will help P&C...
Despite the increasingly sophisticated weapons fraudsters have on hand to execute their scams, business email compromise (BEC) attacks remain one of their most effective ploys. The FBI estimates U.S. businesses lost $2.4 billion to BEC schemes, in which fraudsters pretend to be a supplier or other...
Payments company ACI Worldwide has added its fraud protection service to its Real-Time Payments Cloud. The integration, announced Tuesday (April 18), is aimed at U.S. customers who are preparing for the launch of the Federal Reserve’s real-time FedNow payment system in July. “Every U.S. bank...
Payments FinTech Alacriti has teamed with Socure to prevent identity fraud in instant payments. “Instant payments require real-time fraud prevention, which is not something many existing enterprise fraud systems are well-equipped to handle,” Mark Majeske, senior vice president of faster payments at Alacriti, said in...
Riskified has teamed with Deloitte to give eCommerce merchants better insight into their anti-fraud measures. The partnership between Riskified and consulting/auditing firm Deloitte is designed to give merchants a better idea of how they compare to competitors in terms of chargebacks, approval rates and fraud...
Remote working was a boon to businesses during the pandemic, as technology allowed many companies to remain productive when much of the world was shutting down. Along with greater technological dependence, however, came greater threats to organizations, such as cyberattacks, data breaches, fraud, bribery and corruption. The widespread use of personal devices,...
Nearly nine in 10 companies say remote work has given bad actors a new way to find and exploit weak fraud and security measures, a challenge that SMBs may not be fully prepared to address, Michael Nardy, CEO at Electronic Payments, explains.
Remote work has been a net positive for companies, adding flexibility and cost savings for employees and organizations. However, this new work environment has amplified fraud and cybersecurity concerns for most small to midsized businesses (SMBs) as legacy fraud defense tools are a mismatch for...
