Total combined fraud losses climbed to $56 billion in 2020
While total combined fraud losses climbed to $56 billion in 2020, identity fraud scams accounted for $43 billion of that cost. Traditional identity fraud losses totaled $13 …
How to stay ahead of the rise of synthetic fraud
While banks have been successful in reducing card fraud in recent years, a new and rising threat has emerged: synthetic identity fraud. By combining real and falsified …
Alarming number of consumers impacted by identity theft, application fraud and account takeover
A new report, developed by Aite Group, and underwritten by GIACT, uncovers the striking pervasiveness of identity theft perpetrated against U.S. consumers and tracks shifts in …
Business email compromise is a top concern for banks
Bottomline and Strategic Treasurer released the results of a survey that gathered details about corporate and banking experiences, actions and plans regarding fraud. Results …
The cost of synthetic fraud to reach new highs
A TransUnion research finds instances of synthetic fraud and outstanding balances for suspected synthetic accounts at U.S. financial institutions have declined significantly …
The first step in protecting ourselves is realizing that there’s a lot we can do to stay safe online
While the shift to a digital-first life was brought on by the global pandemic, U.S. consumers plan to keep it up – with online banking (61%), social engagements (56%), and …
Cybersecurity investments will increase up to 10% in 2021
A Canalys forecast predicts cybersecurity investments will increase 10% worldwide in the best-case scenario in 2021. Information security will remain a high priority this …
Financial institutions can strengthen cybersecurity with SWIFT’s CSCF v2021
The Society for Worldwide Interbank Financial Telecommunications (SWIFT) has introduced an updated set of baseline customer security controls that all of its users must …
How do I select a fraud detection solution for my business?
The rapid increase in digital use created a perfect storm for fraudsters to quickly find new ways to steal funds, capitalizing on consumers’ lack of familiarity with digital …
Fraudulent attempt purchase value decreased by $10 in 2020 compared to 2019
There has been a 24 percent increase in eCommerce transactions globally in December 2020 compared to December 2019, ACI Worldwide reveals. In particular, eCommerce …
Five emerging fraud threats facing businesses in 2021
With the growing threat of fraud fueled by the digital acceleration that took place in 2020, Experian revealed five emerging fraud threats facing businesses in 2021. The rapid …
2020 set the stage for cybersecurity priorities in 2021
It’s safe to assume that pretty much everyone is ready to move on from 2020. Between the COVID-19 pandemic, political battles, and social unrest, this has been a stressful …
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