fraud

Ask the expert: 20 questions fraud fighters want to know

In our webinar yesterday, the first in the series AI Fraud Detection — Beyond the Textbooks, we ran out of time and weren’t able to address some great questions we had from the audience. Instead of waiting until the next episode, I hope these brief answers will be of help and interest to both those […]

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Why real cross-channel payment data integration matters

According to the 2019 AFP Payments Fraud & Control Survey, Automatic Clearing House (ACH) payment fraud increased significantly in 2018, reaching a new record with 82% of organizations reported incidents. Specifically, the percentage of companies that encountered ACH credit fraud jumped to 20% (from 13%), and those who experienced ACH debit fraud rose to 33% […]

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Beware of data “science projects” turned fraud prevention solutions

As e-commerce has revolutionized the way we buy and sell online, we are no longer bounded by borders or time zones. Goods can be purchased from anywhere around the world at any time of day. Because of this, traditional rules-based fraud detection systems have become outdated and no longer work. Today, real-time payments require real-time […]

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Model governance comes to fraud detection

Payment fraud detection has always had a bit more latitude than its counterparts in anti-money laundering, customer due diligence and even trade surveillance compliance. Unlike the latter areas, fraud prevention is an area not as heavily governed by regulations or specific rules of what a financial institution should or should not allow. It is obviously […]

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Succeeding in the future of payments

Embracing the future in the age of instant gratification The payments industry is at an inflection point. Customers increasingly demand new payment options like real-time payments and P2P payments, underpinned by security and trust. The costs of running payments operations, complying with a myriad of regulations and enforcing payments standards are increasing. Exposure to operational […]

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Agile fraud management takes more than the right models

In recent months, some prominent organizations have begun moving away from their traditional pattern of purchasing colossal, general-purpose infrastructure technology, and have begun looking towards personalized technology options.  This well-publicized trend has also highlighted a wider change in the market, namely, the increasing importance of picking not only the right application, but also the right […]

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How do you solve a $48 billion payment fraud problem?

According to recent information from Juniper Research, online payment fraud losses from e-commerce, airline ticketing, and money transfer and banking services are expected to reach $48 billion by 2023, more than double the $22 billion in losses estimated for 2018. There’s been a wave of data breaches, now what? The wave of data breaches in […]

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Serving payments customers in the age of instant gratification

Like millions of others, I enjoy having a cup of coffee at various retail coffee establishments. Over the years, these coffee shops, especially the large chain variety, have evolved with upgraded choices to increase customer satisfaction and happiness. Enhancements start with mobile app-based personalization such as social currency, rewards programs, and probably most importantly, streamlined […]

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RegTalk Episode 1: Accelerating innovation for AML compliance

With five U.S. regulatory agencies announcing their support and latitude on experimentation in the field of AML innovation, financial institutions are changing their mindset from one of “adequate compliance” to “compliance innovation.” But understanding where to begin this journey, using technologies like artificial intelligence, machine learning, process automation and natural language processing, as well as […]

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Removing friction and fraud from P2P payments

With new payment rails often come unpredictable threats, and likewise the need to help customers adopt these products easily. A balance is required between adequate reliability and security without impacting the customer experience. In the emerging world of person-to-person (P2P) payments, establishing a frictionless (and “fraud-less”) experience is even more critical, since a bad experience […]

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Fighting financial crime at IBM Think 2018

Regulatory pressure, in terms of policy changes and increased scrutiny, is forcing banks to seek technological changes and advancements to meet evolving regulatory and compliance requirements. This is resulting in financial institutions spending heavily on KYC, AML and surveillance solutions. IBM is committed to bring the newest and best advances in technology to tackle these […]

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