Web apps and application programming interfaces (APIs) power eCommerce, real-time payments and location-based services such as Instacart, but they are also becoming the focus of a range of increasingly sophisticated cyberattacks that can compromise personal data and interrupt the customer experience. Cybercriminals leverage a...
Account takeovers and credential stuffing attacks are surging, with fraudsters buying stolen credentials from the dark web to target first-time digital consumers. In this month’s Digital Fraud Tracker, Slice's Jason Ordway discusses its two-pronged approach for keeping orders secure for its 15,000 pizzerias across the...
Phishing, account takeovers (ATOs) and other types of fraud are endemic in the retail industry, especially as more merchants migrate online during the pandemic, and fraudsters now have more resources than ever with which to conduct their attacks. A study found that there are more...
Riskified, a startup focused on preventing eCommerce fraud, is considering an initial public offering (IPO) that could come this year, Bloomberg reported Thursday (May 6), citing sources. The company is working with Goldman Sachs on the potential listing, but still hasn’t decided on an IPO...
Cash flow is king for companies of all sizes, but businesses must strategize to keep fraudsters from stealing the crown. Bad actors are employing a widening array of new schemes to muscle their way into companies’ digital doors. Thirty-four percent of companies surveyed in one...
Fraudsters have found a new twist on an old favorite — business email compromise scams. In the inaugural Preventing Financial Crimes Playbook, Jeff Taylor, senior vice president of Commercial Fraud Forensics at Regions Bank, explains how the bank is using automated technologies to stop BEC...
Companies worldwide are still attempting to reconfigure their typical operations and payment processes to keep up with the shifts caused by the pandemic. This includes working to keep out fraudsters who are moving to take advantage of these changes to slip onto their servers. Bad...
Shocking but true are the facts that 95 percent of fraudulent synthetic identities are missed by legacy security measures when remotely onboarding new accounts, and the price tag for charge-offs resulting from successful synth ID attacks hovers around $15,000 per incident. Synthetic identity fraud thrives...
Combatting financial fraud has emerged as one of the most promising applications of artificial intelligence (AI) and machine learning (ML). These systems are capable of detecting suspicious patterns of account behavior in real time and stopping data breaches and fraud in their tracks, long...
