fraud
Investment, Acquisitions & IPO’s – Q1 2025
The first quarter is in the books, time for our investment roundup! Dive into the newest funding deals and acquisitions shaping the fraud and risk landscape. Funding ID.Me Digital identity‑wallet provider ID.me has landed a $275 million credit facility from Ares Management, and Ares plans to follow up with a sizeable equity stake....
Fraud and Scams: Top 5 Must-Read Books
In today's digital age, fraud and scams have become increasingly sophisticated, making it essential to stay informed and vigilant. Whether you're a financial expert, a business owner, or simply a consumer, understanding the tactics and strategies used by scammers can help you protect yourself and your assets. Here are 5 must-reads about...
Fraud in the Wild: The Strangest Cases You Should Know
Fraudsters are nothing if not creative. Over the years, they’ve devised schemes so unusual that they belong in a YouTube skit. But behind the humour and audacity of these cases lies a serious lesson for businesses: creativity in fraud prevention is just as important as detecting the obvious threats. Case 1: Gregor...
Investment, Acquisitions & IPO’s – Q4 2024
Q4 has wrapped up! It's time for our quarterly investment update. Explore the latest funding rounds and acquisitions in the world of fraud and risk mitigation! Funding Reality Defender The expanded Series A financing came from Illuminate Financial, Booz Allen Ventures, IBM Ventures, the Jeffries Family Office, Accenture, DCVC, and The Partnership...
Consumer Financial Protection Bureau: Zelle Lawsuit is the Wrong Focus
On December 20, 2024, the Consumer Financial Protection Bureau (CFPB) filed a lawsuit against three major US banks and Early Warning Services (EWS), the operator of Zelle. The CFPB said they filed the lawsuit against the three banks and EWS “for failing to protect consumers from widespread fraud”…”without implementing effective consumer safeguards”. The...
Holiday Scams Through the Years: Generic Phishing to Gen AI
The holiday season, a time of joy and generosity, has also become a prime hunting ground for scammers. With global online shopping skyrocketing and billions of dollars exchanging hands, fraudsters have seized the opportunity to exploit vulnerabilities. For example, in 2023, online holiday scams cost consumers an estimated $3.5 billion globally. This...
Fraud Fight Club: Join the Revolution
Fraud Fight Club Round II promises to be the premier event for anti-fraud professionals. Hosted by About Fraud and scheduled for April 1-2, 2025, this two-day conference will bring together over 400 fraud fighters from financial institutions to engage in an experience unlike any conference in the B2B space. The event will...
The Essential Next Step In Fighting Human Crime
In 2003, the US government changed the fraud fight forever. A seemingly small addition to a broader act required financial institutions to fight and protect their customers from identity theft, leading to the establishment of the Identity Theft Officer. I must admit, I didn’t think much of it at the time, as...
Why Traditional Fraud Prevention Measures are Ineffective Against Modern Fraud
In 2023, scammers defrauded victims from all around the world of over $1 trillion, according to the Global Anti-Scam Alliance. That's roughly equivalent to the Netherlands' GDP. While banks are becoming more adept at protecting their own systems from cyber-attacks, fraudsters have shifted their focus to the weakest link in any security—humans....
Banking on trust: The power of a community-driven approach to fraud prevention
Fraud has been a hot topic since the 1780’s when the U.S. banking system came into being. Back then, the pioneers of financial fraud often swindled investors with false business proposals or used insider information to manipulate the fledgling stock market. As the banking industry and the stock market became more regulated,...