Tag: Financial Fraud

Senate Bill 2155 Aims to Stop Synthetic Identity Fraud

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Get details on synthetic identity fraud and S.B. 2155, and learn what to expect when the new law rolls out.

Senate Bill 2155, if implemented correctly, will put an end to synthetic identity fraud. But it will not put an end to application fraud. Massive data breaches occur every year, so fraudsters will still have plenty of stolen identities to use for application fraud.

Combating the Unknown in Application Fraud with AI

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Application fraud is too sophisticated for legacy systems, but unsupervised machine learning can detect it reliably.

By using advanced technologies like machine learning, risk teams can reap huge operational benefits by blocking fraudulent applications in real-time, and saving on resource expenditure and costly overhead.

The Commoditization of Supervised Machine Learning

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With supervised machine learning becoming commoditized, businesses are left with components rather than solutions.

Many offerings are simply tools or computing elements that enable access to machine learning. They are not equivalent to actual end-to-end solutions. Making this distinction is important since customers are ultimately looking for ways to address critical business challenges.

The Battle of Uncovering Fake Accounts

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The first step for fraudsters to commit an intended fraud on a given platform begins with fake account creation. Learn…

The first step for fraudsters to commit an intended fraud on a given platform begins with fake account creation. Learn how AI and Machine Learning can help reduce fake account creation.

Money20/20 2018: Top Three Takeaways for Fraud and Risk Teams

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Last week, DataVisor attended Money20/20 Las Vegas, the latest financial and payment technology conference of the year.…

Last week, DataVisor attended Money20/20 Las Vegas, the latest financial and payment technology conference of the year. Here are the top three takeaways from the event for fraud and risk teams.

Emerging ATO Tactic: Call Center Scams – Part 1

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Advances in defensive measures against ATO have led to a change in tactics for fraudsters- many fraudsters are now…

Advances in defensive measures against ATO have led to a change in tactics for fraudsters- many fraudsters are now setting their sights on financial institution call centers to commit ATO fraud.

Fake Accounts and Real Trouble: Wells Fargo’s Latest Problems

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Massive dumps of personal information are being released from hacks daily, which means fraudsters can open accounts with seemingly real credentials.

When the news broke that Wells Fargo had “been hit with $185 million in civil penalties for secretly opening millions of unauthorized deposit and credit card accounts that harmed customers,” the obvious question was: how can something like this happen in the first place? How does a company not…

Spend Money to Make Money: Virtual Currency Arbitrage

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Currency arbitrage is one of many ways modern fraudsters can make real money in the virtual goods arena.

Fraudsters can exploit differences in currency value using a technique called currency arbitrage. They can simulate their presence in different countries using proxy servers, purchase virtual goods with virtual currency in a location with a weak currency, and then resell these goods in another…

Account Takeover Fraud: The Anatomy of an ATO Attack

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We predict that account takeover fraud (ATO fraud) will skyrocket this year as result of the many data breaches we…

We predict that account takeover fraud (ATO fraud) will skyrocket this year as result of the many data breaches we witnessed recently. Cybercriminals put the work into stealing your data, now it’s time to put that data to work for them.