Fraudsters are getting increasingly creative when stealing money and data, but many FIs, FinTechs and merchants are still taking established approaches to fraud, reacting to each incident and hoping the damage is minimal. New solutions like unsupervised ML could help businesses prevent fraud from happening...
This week, Mastercard launched Threat Scan, a global solution to help banks spot authorization weaknesses before a breach occurs. This new product is in line with recent cybersecurity trends toward identifying threats before they occur. In August, Visa launched new early detection and warning tools that use artificial...
Banks have a Goldilocks problem: Authentication processes can’t be too rigorous for legitimate consumers, but also can’t be too lax so that fraudsters can easily exploit them. In the new Digital Fraud Tracker, Andrew Sloper, Chase’s head of digital authentication, tells PYMNTS how machine learning...
The global threat of fraud shows no signs of slowing down. Losses related to fraud are valued at $14.7 billion, according to the most recent DataVisor Fraud Index Report. As fraudsters become increasingly aggressive, new global regulations and solutions are being deployed to keep consumers,...
Not all friction is bad when it comes to payments. As Stephen Ritter, CTO at Mitek, tells Karen Webster. The sharing economy presents easy and lucrative targets for bad actors — so a bit of caution, when it comes to verifying IDs, is warranted and...
The complexity of online and mobile advertising — and the vast sums of money involved — make those areas extremely attractive for criminals. In a new PYMNTS interview, Yinglian Xie, CEO and co-founder of DataVisor, gives a tour of the landscape and details how to...
The global digital ad market is expected to be valued at $225 billion by 2020, so it is no wonder fraudsters are trying to steal a piece of the pie. Advertisers will lose a projected $5.8 billion to $42 billion to fraudsters this year alone....
Facebook is a giant in the ad game, with 2.3 billion active monthly users and $16.6 billion in quarterly advertising revenue. However, its omnipresence makes it a honeypot for fraudsters. In this month's Digital Fraud Tracker, PYMNTS talks with Rob Leathern, Facebook’s director of product...
Digital fraud continues to be one of the most pressing issues that marketplaces face today. Experts estimate that total fraud losses in 2018 totaled $3.9 trillion — an increase of 49.5% over the last 10 years. However, there is no consistent way of measuring fraud,...
