With the help of artificial intelligence (AI), banks can offer better customer service while significantly enhancing the efficacy of their security. AI can assist in fraud detection efforts at large and small banks.
Today’s technological advancements have made it possible for merchants to strike an effective balance between minimizing fraud and maximizing customer satisfaction. The following three tips can help companies balance strong payment fraud prevention while providing an exceptional shopping experience.
As businesses continue to navigate the current economic environment, it’s critical they also strategize for the future to position themselves for success once the environment improves. This means implementing robust fraud prevention strategies and tools that accurately separate fraud types to treat them correctly and address risk.
New TransUnion Public Sector Fraud study highlights how threats such as Account Takeover (ATO) erode trust in government’s online and mobile services
June 16, 2021
As more U.S. citizens have interacted with government agencies online during the COVID-19 pandemic, account takeover fraud threats (ATO) are becoming more prevalent, according to TransUnion’s Public Sector Fraud Study.
Feedzai has announced its Quarterly Financial Crime Report, an analysis of over 12 billion global banking transactions from January – March 2021. The report identifies trends in spending and in fraud attempts to show that this past quarter, as consumer activities increased, fraudsters attempted to hide their fraudulent transactions in legitimate banking. In fact, combining all banking fraud – internet, telephone, and branch – attacks grew a whopping 159% in Q1 2021 compared to Q4 2020.
Throughout the pandemic, the payments threat landscape was largely influenced by the ongoing COVID-19 pandemic. Cybercriminals continued to employ tried and true methods, such as phishing, payment account enumeration, eCommerce skimming, ransomware, among others to exploit many vulnerabilities during the pandemic, says Natalie Kelly, Visa’s SVP, Global Head of Payment Ecosystem Risk. Here, we talk to Kelly about the payments fraud ecosystem, her role at Visa, ensuring business continuity through the evolution of the payments threat landscape and more.
Contact center call volumes will vary from industry to industry and from month to month, but the general trend is steeply upward. Adding new agents isn’t the only or even the most efficient way that contact center managers can respond to the great COVID crunch of 2021. A properly deployed Interactive Voice Response system can make workloads manageable for agents while keeping customers from long and frustrating minutes on hold. Still, new options for callers may correspond to new opportunities for attackers.