News
Online Fraud Prevention Requires End-to-End Application Integrity
Online fraud is on the rise across all industries. For example, in 2017 banking trojans increased 77% year over year and the figures for 2018 already show similar trends. It is expected that malware-based attacks will continue to increase with the wider adoption of digital payments and application based mobile banking. Today...
Auto Lending Fraud: The Lies People Tell on Applications
Financing a car is easy. You pick out your brand-new car. You walk into the finance manager’s office. You give your name, address, social security number and a few other pieces of personal information and you can walk out of the auto dealership with keys to that car, sometimes with little or...
ATO Attacks: What They Are and How to Foil Them
It’s more important than ever for merchants to make sure their customers are returning to make repeat purchases as the e-commerce landscape becomes more saturated. One of the best means for improving customer loyalty is to offer accounts for your online store which customers can use to check out faster, get tailored...
Smyte Leaves Customers in the Lurch
Smyte and Twitter left dozens of the former's clients out in the cold at the end of last month, shutting off the company's API with half an hour's notice following its acquisition by Twitter on June 21. Clients including Zendesk, Musical.ly, Indiegogo and Meetup were impacted by the disruption in service. Smyte...
PayPal and Twitter Buy Anti-Fraud Startups in June
Mergers and acquisition activity took off in the fraud space in June with PayPal's $120 million acquisition of Simility and Twitter's buyout of Smyte. Meanwhile, fraud detection startup CashShield closed a $20 million Series B funding round. PayPal's all-cash deal to acquire Simility is expected to close at the end of the...
How Blockchain Could Disrupt Online Fraud Prevention
People are always talking about how blockchain will change the world and disrupt industries. One of the industries that doesn’t get much attention in the TED talks and blog posts is e-commerce fraud prevention. The core feature of blockchain is the distributed ledger. This ledger records transactions in a database that can...
How to Avoid ICO Fraud with Cryptocurrencies
Cryptocurrency investors are participating in record numbers in initial coin offerings (ICOs) even though there are still not many uses for cryptocurrencies today within the overall retail and banking space. This article will list the different types of tokens one can purchase as well as the scams/frauds sometimes involved in an ICO....
What’s in Your Cryptocurrency Wallet? Cybercriminals Want to Know!
Big concerns exist around account takeover (ATO) at digital cryptocurrency exchanges—and no wonder. By its very nature, it is nearly impossible to trace who owns cryptocurrency funds. Digital currency wallets are also a very popular target for cyber thieves because of the irreversibility of digital currency transactions, making wallet security a top...
First Fraud Data Exchange for Auto Industry Launches
PointPredictive formally launched today, May 30, a fraud data exchange for auto lenders at the Auto Lending Fraud Consortium Roundtable in Fort Worth, Texas. Auto lenders will be able to use the Fraud Data Exchange as a repository for sharing data from confirmed fraudulent auto-loan applications. The service is designed to detect...
What Does Machine Learning Mean for Fraud Prevention?
Everyone in fraud prevention must have heard the term machine learning bandied about in discussions about the changing nature of their work. However, the recent hype suggests that some of the people promoting machine learning solutions are either overstating or misrepresenting what the technology is currently doing and what it is capable...