If you specialise in AI for Fraud Prevention we want to hear from you!
Each month on Fraud Prevention Briefing we’re shining the spotlight on a different part of the market – and in September we’ll be focussing on AI for Fraud Prevention. It’s all part of our ‘Recommended’ editorial feature, designed to help industry buyers find the best products and services available today. So, if you specialise in AI for Fraud […]
The Holy Grail: Secure, seamless user authentication in payments
By Feedzai Consumers seek a smooth, frictionless user authentication process. Merchants must ensure that online payment methods and transactions are safe from fraud. Feedzai, an AI fraud prevention platform for Acquirers, explains how businesses and merchants can deliver an online payment experience that achieves both. Security – the right controls at the right time based on the […]
AI-enhanced malicious attacks and soft ransomware targets front of mind for risk execs
Concern about artificial intelligence (AI)-enhanced malicious attacks have again topped Gartner’s emerging risk rankings in the second quarter of 2024, while new concerns regarding soft ransomware targets are also coming to the forefront of enterprise risks. “Similar to AI-enhanced malicious attacks, soft ransomware targets require minimal experience and cost to cause significant financial and reputational […]
AI-powered malicious attacks are now a top emerging risk, says study
Concern about artificial intelligence (AI)-enhanced malicious attacks ascended to the top of the Gartner emerging risk rankings in the first quarter of 2024. “The prospect of malicious actions enabled by AI-assisted tools is concerning risk leaders worldwide,” said Gamika Takkar, director, research in the Gartner Risk & Audit Practice. “The relative ease of use and quality of […]
More AI knowledge required in consumer goods brands to avoid security blunders
Artificial Intelligence (AI) refers to software-based systems that use data inputs to make decisions on their own or that help users make decisions. Generative AI refers to AI creating content in any shape or format, from writing original text to designing new structures and products. These technologies have developed rapidly over the last 18 months […]
AI now the key tool for amateurs committing financial crime
Nearly 70% of the 600 fraud-management, anti-money laundering, and risk and compliance officials surveyed in BioCatch’s first-ever AI-focused fraud and financial crime report say criminals are more adept at using artificial intelligence to commit financial crime than banks are at using the technology to stop it. Equally concerning, around half of those same fraud-fighters report an increase in financial crime activity in the […]
New guidelines for Secure AI System Development unveiled
Th UK has published the first global guidelines to ensure the secure development of AI technology as part of an initiative encompassing agencies from 17 other countries that have confirmed they will endorse and co-seal the new guidelines. The guidelines aim to raise the cyber security levels of artificial intelligence and help ensure that it is […]
How businesses can use AI to tackle financial crime
As technology continues to advance at a rapid rate, financial crime has taken on a new dimension, posing a multifaceted threat to financial institutions, writes Sonia Jain, Consultant Operations Manager at FDM Group… According to Kroll’s 2023 Fraud and Financial Crime Report, 68 per cent of respondents expect financial crime to increase over the next 12 months, with evolving […]
AI MONTH: AI and Fraud Prevention – A confluence of technology and security
Businesses and financial institutions face a constantly mutating landscape of fraudulent activities. Traditional systems, once hailed as robust, now frequently lag behind in detecting and preventing contemporary fraud schemes. Enter Artificial Intelligence (AI): a transformative force that’s reshaping fraud prevention by providing real-time, predictive, and adaptable solutions. Here we explore the growing influence of AI […]
Harnessing artificial intelligence to combat merchant fraud in retail
The retail sector has been both blessed and cursed for the fast pace of e-commerce growth and arrival of alternative payments. The boon of online shopping and digitisation has expanded horizons for retailers, but with it comes the bane of increased fraud. Fortunately, Artificial Intelligence (AI) emerges as a stalwart ally in detecting and thwarting […]
