Fraud & Security The New White Walkers: Zombie Synthetic Identity Fraud
Synthetic identity frauds that strategically hid themselves in the bad debt book may be coming back from the dead as zombie synthetic identity fraud.
Tag Archives: Fraud
Fraud & Security UBS Card Center Wins Security Innovation Award with FICO AI
UBS Card Center’s fraud team used the latest artificial intelligence and machine learning capabilities in the FICO® Falcon® Platform to stop 84 percent more fraudulent transactions last year than in 2015.
Fraud & Security Synthetic Identities: From Data Breaches to Auto Loan Fraud
Criminals are using data breaches to create synthetic identities, which in turn are used to secure auto loans or other financial products.
Risk & Compliance Procure-to-Pay, 3 Ways Analytics Reduces Risks and Costs
There have been numerous articles throughout the year about government organizations and universities lacking the staff and tools to review 100% of their transactions. Most of the issues with procure-to-pay compliance arise because many staff reviewing transactions are more focused on completing their review than on the quality of the review. This can result in improper transactions slipping through, which has the potential to expose the organization to risk, bad audit findings and reputational damage. It is becoming clear that legacy systems and staffing simply aren’t sufficient. Analytics is critical to help monitor procure-to-pay transactions because it is fast, unbiased and can find hidden issues within the data. This article from the State of West Virginia is a perfect example: “More than 17% of Purchase Card transactions lacked sufficient documentation”. Not all of these transactions were improper, but the lack of documentation when spread across 126,000 annual P-Card transactions in West... [Read More]
Fraud & Security Authorised Push Payment Fraud Leapt 44% in UK – Analysis
UK Finance noted that authorised push payment fraud was up by 44% in 2018 - but what does this leap actually show?
Fraud & Security How Application Fraud Checks Affect European Applicants
It can be difficult to determine the impact that application fraud controls have on customers – so we asked 2,000 customers across four European countries.
Fraud & Security Reducing Health Care FWA Losses – Find Your Focus
A key component of stopping fraud, waste and abuse is to focus on your most productive targets: Who or what should be the focus of your payment integrity program?
Fraud & Security PSD2 Strong Customer Authentication – 3 Reasons to Include SMS
Despite the legitimate concerns, it would be wrong to ignore SMS as a Strong Customer Authentication tool for PSD2.
Fraud & Security PSD2 Strong Customer Authentication – 3 Factors for Success
PSPs are now actively implementing strategies to help them meet their SCA obligations, so what are the key factors they should consider?
Fraud & Security Adaptive Analytics Help EnterCard Cut Fraud Loss Rate 60%
As one of the first companies to use the FICO Falcon Platform's machine-learning adaptive analytics capability, EnterCard is able to rapidly respond to shifts in fraud patterns.