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AI verification systems give businesses an edge over scammers

Fraudsters are underestimating the power of AI to detect fake IDs, according to a new report from Ondato. Based on an analysis of millions of ID verifications carried out for …

money
The staggering cost of identity fraud for financial services

The impact of identity fraud varies for organizations in the financial services industry, based on whether they belong to the banking or FinTech sector, according to Regula. …

Nicole Hofmann
Stop online counterfeiters dead in their tracks

During this Help Net Security interview, Nicole Hofmann, CEO at Sentryc, delves into the critical issue of counterfeiting and the detrimental impact it has on industries and …

Silicon Valley Bank
The SVB demise is a fraudster’s paradise, so take precautions

For those who haven’t followed the drama, Silicon Valley Bank has been shut down by the California Department of Financial Protection and Innovation, after a bank run that …

fraud detection
Fighting financial fraud through fusion centers

Keeping up with financial fraud is incredibly difficult because accurate fraud detection requires a deep, real-time analysis of all the events surrounding a transaction. …

fraud detection
Synthetic identity fraud calls for a new approach to identity verification

In 2022, US financial institutions and the credit card sector lost an estimated $4.88 billion to synthetic identities through falsified deposit accounts and unsecured credit …

thief
Resecurity identified the investment scam network Digital Smoke

Resecurity identified one of the largest investment fraud networks by size and volume of operations created to defraud Internet users from Australia, Canada, China, Colombia, …

warning scam
FTC reveals alarming increase in scam activity, costing consumers billions

Newly released Federal Trade Commission (FTC) data shows that consumers reported losing nearly $8.8 billion to fraud in 2022, an increase of more than 30 percent over the …

Hand
Cybercriminals exploit fear and urgency to trick consumers

Cybercriminals remained active in spying and information stealing, with lottery-themed adware campaigns used as a tactic to obtain people’s contact details, according to …

fraud detection
Fraudsters’ working patterns have changed in recent years

Less sophisticated fraud — in which doctored identity documents are readily spotted — has jumped 37% in 2022, according to Onfido. Fraudsters can scale these attacks on an …

check
Cybersecurity engineering under the Federal Trade Commission

When the Federal Trade Commission (FTC) releases new regulations or changes to existing ones, the implications may not be obvious to the average business or company employees. …

shadow
Identifying key areas for fraud risk during the recession

As economic pressure increases, so does fraud risk. While the world slides into a recession, the resulting increased debt, supply chain delays, and inflation create increased …

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