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.

Bad Account Opening: Fake Accounts and Real Big Trouble

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Wells, wells, wells, what do we have here? Last week the news broke that Wells Fargo had “been hit…

Wells, wells, wells, what do we have here? Last week 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,” and the backlash caused by…

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.

The Changing Tide of Financial Fraud

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On October 1, the financial payments world was abuzz with talk about how the increased adoption of the new EMV standard…

On October 1, the financial payments world was abuzz with talk about how the increased adoption of the new EMV standard for credit card purchases was going to bring about dramatic changes to financial fraud. Likely we will see a reduction in the amount of “brick and mortar”…