TransUnion and Bitventure have joined forces in an effort to streamline mobile onboarding procedures in South Africa. Bitventure is a digital identity verification specialist that automatically matches an ID photo from Home Affairs to an official ID number. The new joint solution is expected to reduce fraud while minimizing the amount of time that South…
BioCatch is once again warning about the threat of account takeover fraud. The behavioral biometrics specialist noted that account takeover fraud has gone up since the onset of the COVID-19 pandemic, due at least in part to the increased amount of online traffic in a remote work environment. People can no longer go to the…
With signs that online banking fraud is on the rise amid the COVID-19 pandemic, Buguroo is offering to investigate suspicious messages for free. The company has set up a new “Covid-19 Online Banking Fraud Resources Center” on its website, where it promises to offer regularly updated information about the latest fraud and social engineering campaigns.…
RSA is urging financial institutions to take an omni-channel approach to fraud prevention. In a new blog post, the company notes that people can now log into their accounts through multiple different channels using many different devices, and financial institutions need to ensure that all of those channels are protected if they want to guarantee…
Intellicheck is offering to help retailers, banks, and other financial organizations struggling to deal with surging rates of online fraud during the COVID-19 pandemic. To that end, the company is making its Retail ID Web anti-fraud solution available for free for a period of 90 days. Retail ID Web leverages document recognition to verify people’s…
Intellicheck has teamed up with DealerSafeGuardSolutionS to reduce the threat of fraud facing car dealerships. To that end, DealerSafeGuardSolutionS will integrate Intellicheck’s Retail ID solution into its own Digital Compliance Enforcement platform. DealerSafeGuardSolutionS currently provides Digital Compliance services for more than 550 dealerships in the United States. The company’s platform helps automate some of the…
Buguroo has upgraded its flagship behavioral biometrics platform to help financial institutions spot (and stop) New Account Fraud. The enhanced bugFraud can be used in conjunction with traditional anti-fraud measures like ID checks and physical biometrics, or as a standalone security solution. New Account Fraud refers to fraud that is carried out with bank accounts…
With financial services, retail, and various other sectors increasingly focused on digital security, one of the most notable solutions providers of the past year is Madrid-based buguroo. The company raised a stunning $11 million in Series A funding in November, and is seeing growing activity across its multiple offices in Europe, North America, and South…
Jumio has released its annual Holiday New Account Fraud Report, finding that new account fraud has doubled in the years since 2014, and increased 27.8 percent over 2018 alone. Fraud rates were generally higher in emerging markets than they were in more developed areas. For the purposes of the report, new account fraud occurs…
Buguroo has provided a comprehensive breakdown of the different forms of fraud in a new blog post that classifies fraud into three separate categories. Third party fraud refers to fraud in which a cybercriminal targets a victim with no knowledge of the fraud taking place. That fraud can take many different forms, from phishing attacks…
Signicat has teamed up with SurePay to give Dutch customers more confidence when delivering payments. The joint solution blends Signicat’s Digital Identity Platform with SurePay’s Account Check service to make sure that payments reach the intended recipient. The service is primarily geared towards employers and other large organizations, and cross-references a payee’s personal information with…
Cybersecurity firm Buguroo has announced an $11 million dollar Series A funding round that will help it to accelerate the development of its Deep Learning-based online fraud detection and prevention platforms, and allow it to focus on an expansion into the U.S. and U.K. markets, among others. The funding for the Madrid-based Buguroo was led…
GetID, a new Estonian-based Know Your Customer (KYC) identity verification company is featured at this year’s Slush Helsinki 2019 tech startup and investor conference. The main focus of GetID’s KYC platform is fraud prevention, with their goal being to make identity spoofing and money laundering using fake documents impossible. They are also currently working on…
BioCatch has a new Chief Revenue Officer; Bill Sytsma will lead the company’s sales and professional services team, and will oversee “an ambitious plan for growth,” according to a statement announcing his appointment. Sytsma comes to the company from ThreatMetrix, another provider of an enterprise-focused digital security platform, where he served as the company’s Americas…
Trust Stamp has tapped a longtime law enforcement veteran to serve as the company’s new Director of Financial Crime Services. John Bridge brings 34 years of experience to the position, including 25 years as a US Marshall. During that time, Bridge was at the forefront of financial crime investigation. He previously served as the Senior…
“We have experienced first-hand the significant return on investment that BioCatch provides and this comes from not only catching the fraud that traditional solutions miss, but from reducing the operational costs and lost customer revenue that comes from too much disruption in the digital channel.” -Rodrigo Colossi, IT Superintendent, Itau Unibanco Behavioral biometrics specialist BioCatch has…
“…the GAO’s report highlights authentication solutions based on FIDO standards for their capacity to offer ‘a convenient, added layer of security when used as a second factor for accessing websites or systems that would otherwise rely on a username and password for single-factor authentication.’” The FIDO Alliance has a high-profile new supporter in the government…
