fraud

Fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. Fraud can violate civil law, a criminal law, or it may cause no loss of money, property or legal right but still be an element of another civil or criminal wrong.
Experian Expands Fraud Detection Capabilities With NeuroID Acquisition
Experian Expands Fraud Detection Capabilities With NeuroID Acquisition
August 13, 2024  |  Acquisitions

Experian has added behavioral analytics to its fraud detection capabilities by acquiring NeuroID. Adding this new layer of insight into digital behavioral signals for both new and...

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Collaborative Defense: The Role of ‘Intelligent Friction’ and AI in Fraud Prevention
Collaborative Defense: The Role of ‘Intelligent Friction’ and AI in Fraud Prevention
August 13, 2024  |  Security & Fraud

Every now and then, an executive in the payments business comes up with a catchphrase that captures a complex concept, and you know it’s going...

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SEC Alleges NovaTech Ltd Ran Fraudulent Crypto-Centered Scheme
SEC Alleges NovaTech Ltd Ran Fraudulent Crypto-Centered Scheme
August 12, 2024  |  Cryptocurrency

The Securities and Exchange Commission (SEC) charged NovaTech Ltd, its operators, Cynthia and Eddy Petion, and the company’s top promoters with running a fraudulent scheme centered on...

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77% of Consumers Expect Banks to Use AI to Fight Fraud
77% of Consumers Expect Banks to Use AI to Fight Fraud
August 12, 2024  |  Fraud Prevention

Real-time payments, known for their speed and immediacy, have faced adoption hurdles primarily due to perceptions about security. As financial institutions (FIs) and payments providers...

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They Said That: Notable Quotables for the Week of August 5
They Said That: Notable Quotables for the Week of August 5
August 09, 2024  |  Technology

While you were watching track and field, basketball, fencing and swimming we were keeping our usual close eye on the “faster, higher, stronger” world of...

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Fed Enforcements Now Focus on Instant Payments and Tokens
Fed Enforcements Now Focus on Instant Payments and Tokens
August 09, 2024  |  Bank Regulation

A recent enforcement action by the Federal Reserve taken against Customers Bancorp and its Customers Bank subsidiary has taken note of the risks and challenges...

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Putting ‘Scam Dens’ Out of Business Means Using AI to Fight AI
Putting ‘Scam Dens’ Out of Business Means Using AI to Fight AI
August 09, 2024  |  Security & Fraud

Fraud has become, to put it mildly, big business. Featurespace Chief Operating Officer Tim Vanderham told PYMNTS’ Karen Webster in an interview that “when you...

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FTX and Alameda Pay $12.7 Billion to End CFTC Lawsuit
FTX and Alameda Pay $12.7 Billion to End CFTC Lawsuit
August 08, 2024  |  Legal

FTX and sister company Alameda Research have agreed to pay their creditors $12.7 billion. The agreement, approved Wednesday (Aug. 7) by U.S. District Judge P. Kevin Castel,...

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GenAI Tools Show Promise of Reducing Payments Fraud by 85%
GenAI Tools Show Promise of Reducing Payments Fraud by 85%
August 08, 2024  |  Artificial Intelligence

The landscape of payments fraud is undergoing a shift as traditional detection methods become increasingly inadequate against sophisticated fraud schemes. Conventional rules-based systems, relying on...

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