The synthetic ID — the online identity concocted through bits and pieces of information gleaned from far-flung sources, cobbled together by fraudsters — is wreaking havoc. TransUnion found in its latest State of Omnichannel Fraud report that 13.5% of transactions associated with online account creation —...
LinkedIn has reportedly seen a rash of scams targeting remote workers and jobless tech employees. People seeking jobs on the networking site are instead being cheated out of money as they take part in phony recruitments run by scammers pretending to be employers, the Financial...
Consumers enjoy the convenience of instant payments using apps like Venmo, Cash App and Zelle. As the use of these faster payments has increased and become mainstream, however, so have fraud-related issues. Twenty-three percent of peer-to-peer (P2P) platform users have sent funds to the wrong...
Fraudsters defraud. It’s their job, just as it is for the equally committed army of digital warriors who are paid to combat them. In the middle, there are victims, both consumers and businesses, who are targeted in new ways every day and everywhere. In examining...
November 30, 2022
Real-time data. Online social networks. Real-time payments. For the fraudsters, it’s all a match made in heaven. As DataVisor CEO Yinglian Xie told PYMNTS’ Karen Webster criminals are proving adept at data sharing in organized ways — and their schemes are proving more lucrative than ever. Once fraudsters understand a payment system’s vulnerabilities and loopholes, […]
November 18, 2022
Last month, the Fed said it was officially ending debit network exclusivity across all channels. Beginning in 2023, all debit card issuers must enable merchants to choose at least two...
November 02, 2022
Identity fraud has been growing in recent years and had a notable increase in 2021. Identity theft alone accounted for $56 billion in losses that year, up 79% from 2020,...
September 28, 2022
No matter where you look, fraud attacks on banks and merchants are on the rise. The fraudsters are getting more creative in their schemes, leveraging the great digital shift to...
April 09, 2024
Fraud and risk platform DataVisor says it has launched a partnership with identity verification provider Mitek. The collaboration gives financial institutions (FIs) a single-platform check fraud protection service, the companies said in a Tuesday (April 9) news release. “Our vision has always been to create an end-to-end, comprehensive platform that effectively combats all types of financial fraud,” said Yinglian Xie, […]
February 26, 2023
LinkedIn has reportedly seen a rash of scams targeting remote workers and jobless tech employees. People seeking jobs on the networking site are instead being cheated out of money as...
September 20, 2022
Galileo Financial Technologies has expanded its Galileo Payment Risk Platform with a partnership with DataVisor, which works in fraud and risk management, to offer more fraud solutions, a press release...
May 06, 2022
America saw a connected device boom during the pandemic. A study in March 2021 found that the average United States household had 25 connected devices, including laptops, tablets, smartphones, smart...
