As cybercriminal tactics evolve, banks must employ fraud detection solutions that leverage artificial intelligence to evaluate new registrations for signs of money mule activity.
According to a recent report, the number of identity fraud victims rose by 8 percent to 16.7 million U.S. consumers in 2017, due in large part to a surge in account takeover attacks.
To defeat increasingly sophisticated fraudsters, security teams should pair their fraud detection tools with a device ID spoofing mechanism that automatically adapts to new threats.
New Year, New Account Fraud: Identity Theft May Be Holding Back Your Customer Experience Resolutions
Financial institutions looking to improve the customer experience in 2018 should implement multilayered security solutions to crack down on identity theft and detect new account fraud.
During the busy holiday shopping season, retailers must make decisions about e-commerce fraud rapidly to keep pace with demanding delivery schedules.
The threat landscape is expanding, and organizations must undergo a cognitive convergence to manage evolving security, fraud and operational risks.
For retailers who are primarily concerned with minimizing chargebacks, the total cost of e-commerce fraud is worse than they realize.
A targeted phishing campaign aimed at Canadian businesses prompts users with high levels of access to divulge login credentials and authentication codes.
While consumers can't change their personal information, they can take preventative measures to protect their data from new account fraud.
New account fraud is rising in popularity among cybercriminals due to the frequency with which users are opening new online banking accounts.