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...
The benefits of open banking are multi-faceted, Ramesh Menon, group director, product management of LSEG Digital Identity/Account Verification and Fraud Solutions, told PYMNTS. “Open banking, ultimately, makes life easier for consumers,” said Menon. “The different applications that FinTechs are developing are driving a lot of...
The good news is that today’s payment landscape is becoming faster, easier, and more digital. The bad news is that fraudsters and cybercriminals are increasingly keeping pace, innovating upon established methodologies to improve the effectiveness of their methods as well as developing new attack tactics....
Fraud is unavoidable, and scams affecting today’s businesses only getting smarter and more sophisticated. With modern advances come corresponding vulnerabilities, and in the challenging macroclimate of today where every dollar counts, it is becoming more critical than ever for businesses to go on the offensive...
New York’s financial watchdog is continuing its crypto crackdown with new fraud detection tools. The state’s Department of Financial Services (NYDFS) announced Tuesday (Feb. 21) it had developed a new enhancement to help it spot insider trading, market manipulation and front-running in digital asset trading....
