For the second year running, FICO has been named as category leader in the recently published Chartis ‘Cyber Risk Quantification Solutions 2020: Market Update and Vendor Landscape’ report. Our FICO Cyber Risk Score is becoming the de-facto cyber risk score for enterprise self-assessment, third-party risk management and insurance underwriting.   As the report s…

FICO’s Integrated AML Compliance Survey has revealed that while the vast majority of banks in more than 11 countries around the Asia Pacific region believe that AI will strengthen anti-money laundering efforts, many remain unsure how to operationalize the advanced technology. Conversely, when asked about the efficacy of much older rules-based technology, a…

While 2020 has posed new challenges in fraud, our new European Card Fraud Map shows that many countries were battling card fraud successfully last year — with the UK leading the pack. Of the 18 countries covered in the report, based on data from Euromonitor International and UK Finance, the UK posted the largest value reduction in fraud since 2018, some £52 million.…

With temperatures frequently north of 100º, Arizona gets mighty hot in the summer. It turns out that during the summer of COVID-19, it’s also a hotbed of money muling, a criminal act that can be defined as: The role of transferring stolen funds. Typically, money mules are unwittingly tricked into depositing a fraudulent check into a bank account or into receiving…

Until recently, most consumer-facing organizations have relied on username and passwords to secure accounts. However, widespread data breaches mean that password data has been leaked and can be bought by criminals on the dark web. Plus, consumers don’t like passwords as a security measure. Our recent survey found that only 40 percent of people are prepared to use u…

With the COVID-19 lockdown wiping out many face-to-face interactions, it’s hardly surprising that more of what we do has naturally moved online. For the consumer, online shopping has become the norm, but so too has opening accounts digitally; even if you look at financial accounts where many would say there is a higher risk of loss. 89 percent of UK citizens say th…