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Rule of the machines: can AI and ML really help fight fraud?
Fraud has been a problem since coins were introduced more than two thousand years ago. In today’s digital age, the problem won’t go away – indeed, it’s getting worse despite... more
The post Rule of the machines: can AI and ML really help fight fraud? appeared first on Payments Cards & Mobile.
Multinational industry alliance launch PayID – universal ID for payments
A group of leading technology, finance and nonprofit companies have joined forces to announce the launch of PayID, a universal payment ID to simplify the process of sending and receiving... more
The post Multinational industry alliance launch PayID – universal ID for payments appeared first on Payments Cards & Mobile.
New strain of trojan EventBot can clear out bank accounts
Researchers are reported to be analysing EventBot, a new strain of Android malware that does not yet exist in the wild. Cybereason researchers did this by observing submissions to virus... more
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Identity fraud losses increase 15% as consumer out-of-pocket costs more than double
The 2020 Identity Fraud Report reveals financial institutions’ methods to identify and respond to fraud are no match for criminals’ high-tech schemes to hijack consumer accounts. Fraud losses grew 15%... more
The post Identity fraud losses increase 15% as consumer out-of-pocket costs more than double appeared first on Payments Cards & Mobile.
Diebold Nixdorf suffers ProLock ransomware attack
Diebold Nixdorf has succumbed to a ProLock ransomware attack that is reported to have disrupted some operations. First reported by Krebsonsecurity, the ransomware attack struck the company April 25 and... more
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