While we begin 2019 with fresh optimism, we can’t ignore the hard reality that continues to plague the financial industry. Cybercriminals remain focused on account takeover (ATO), new account fraud, and card-not-present fraud. Results of the 2018 Identity Fraud report by Javelin Strategy & Research revealed significant growth in account takeover, with the number of attacks tripling in the past… Read more

The banking industry is grappling with a multi-billion-dollar fraud prevention problem. At the core of the problem, financial institutions (FIs) continue to increase spending on fraud prevention technology year over year. But rather than seeing a decrease in fraud, it’s the opposite. As fraud goes up, spending goes up with it, and the catch-22 continues in a seemingly never-ending cycle…. Read more

The Financial Conduct Authority (FCA) recently ran a survey on UK financial crime to understand the threats faced by the market. As a regulator with nearly 60,000 financial services firms under its purview, the FCA required all UK-based banks — as well as 2,000 financial institutions (FIs) — to complete the survey. In November 2018, the FCA published the results…. Read more

Finding the best fraud detection and prevention solution for your organization can be challenging. Requirements from internal stakeholders and vendor fact sheets can give an overwhelming impression that your solution needs to have it all and then some. In reality, your choice should simply tick all the boxes on your must-have list and cover your business use cases. It should… Read more