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…
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…
Sony Bank is now using OneSpan’s Mobile Security Suite to safeguard its app and its mobile transactions. The Mobile Security Suite includes Application Shielding, which will monitor the Sony Bank network to detect (and reduce) fraudulent activity. It will also enable biometric authentication, with support for both face and fingerprint recognition. With that in…
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…
Thales has shed some light on the future of cybersecurity with a new blog post that explains how the financial industry is leveraging tokenization technology to reduce the threat of data breaches and online credit card fraud. The company notes that while PINs and chips have lowered the amount of fraud that is carried out…
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…
BioCatch called attention to the growing threat of new account fraud during a recent webinar with Aite Group Research Director Julie Conroy. Also referred to as application fraud, new account fraud describes fraud that is carried out through new accounts that are created with synthetic identities, many of which are generated with stolen personal information.…
The FIDO Alliance received considerable praise during last week’s House hearing on Identity in Financial Services. Speaking before the US House of Representatives Committee on Financial Services on behalf of the Better Identity Coalition, Venable LLP’s Jeremy Grant identified three main challenges facing modern financial institutions, and argued that FIDO standards offer potential solutions to…
BehavioSec has updated its behavioral biometrics platform ahead of the European Union’s upcoming PSD2 compliance deadline. Version 5.1 of the platform offers better mouse recognition and anomaly detection, in addition to other accuracy and authentication upgrades. The upgraded platform also guards against fraud associated with new accounts. BehavioSec 5.1 will compare the behavior of a…
The US Federal Reserve System has released a new White Paper that calls attention to the growing threat of synthetic identity fraud. The paper defines a synthetic identity as one that combines false information – such as a fake name or date of birth – with legitimate information like a social security number that has…
Goode Intelligence has published a new White Paper that highlights the importance of secure digital identity verification. Titled “The Digital Identity Problem – Solving the issue of trust,” the free paper suggests that reliable verification is essential because enterprises need to know the identities of their customers in order to safely do business with those…
If there are any themes in this week’s top stories for Mobile ID World, at least one of them would have to be the fight against fraud. It’s a topic that permeates the discussion of one of the most popular recent interviews we’ve had in some time, with the Chief Technical Officer of a leading…
BioCatch is warning about the dangers of corporate fraud in the wake of the FBI’s 2018 Internet Crime Report. The company specifically highlighted the threat of Business Email Compromise (BEC) attacks and Remote Access Trojan (RAT) attacks in a new blog post, both of which can be mitigated with the help of behavioral biometrics. Of…
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…
Worldpay is looking to reduce fraud with a new platform that uses machine learning to assess the validity of online transactions. Dubbed FraudSight, the new platform will examine prior online and in-store behavior to create a card profile that adds context to future purchases. FraudSight is specifically designed to address fraud that occurs during transactions…
Last week, our sibling site FindBiometrics published part one of an extensive interview with Frances Zelazny, Chief Strategy & Marketing Officer, BioCatch. That first half of her conversation with Peter Counter, Managing Editor of FindBiometrics and Mobile ID World, dealt with how behavioral biometrics can thwart sophisticated vishing fraud attacks, the behavioral insights market, and…
A lot of biometric security specialists say they can help businesses to reduce fraud and save money, but Nuance Communications is backing up its own particular value proposition with some numbers: The company says that its Nuance Security Suite saved organizations over $1 billion collectively over the course of 2018. The solution combines voice recognition,…
In its latest blog post, BioCatch has some words of advice for Payments Canada and other financial institutions that are upgrading their systems to support faster payments. The behavioral biometrics company argues that financial institutions need to be prepared with real-time fraud prevention strategies in order to head off an impending wave of financial crime.…
