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.…
“2018 witnessed the largest increase in attempted ID fraud in five years and this highlights why organizations need to use more sophisticated digital identity verification solutions to take extra precaution during the online account opening process, especially during the holidays.” – Philipp Pointner, Chief Product Officer, Jumio After a bit of a lull in 2017,…
A new participant in the NVIDIA Inception Program is aiming to dramatically reduce online fraud using facial recognition, AI, and a watch list approach. Called Facepoint, the Paris-based company is working on an anti-fraud online platform that would rely on a database of “heightened risk individuals,” as the company puts it on its website. The…
