5 Outlandish Claims Fraud Vendor Sales Guys Tell You
You’ve heard the phrase, “If it sounds too good to be true, it probably is.”? So when you’re listening to a sales guy trying to pitch you the latest greatest fraud tool you might want to be on the alert for anything that sounds a little too rosy. You probably know what I’m talking about […]
Is Your Boss Being Too Cheap on The Fraud Tools? Read This
I have run across so many embattled fraud managers that have tried to get a fraud tool or technology that they needed only to fail. Most of the time they fail to convince the executives to get the tool because there are higher priorities within the organization, or because they can’t build the ROI for […]
Love the Beach and Fighting Fraud? Move to San Diego!
I originally posted this a couple of years ago, but I am so proud of this city and the buzzing anti-fraud community here, that I decided to repost it again. San Diego is an amazing place to live. With an average temperature of 71 degrees, 266 sunny days a year, and some of the most […]
Get Ready for Gas Station Fraud Armageddon in 2020
Gas stations around the US are rushing to upgrade their fuel pumps in order to accept Chip Cards by the October 2020 deadline. Even though they were given extraordinary leeway and an extra 3 years to upgrade their pumps, many chose to wait until the last minute to comply. A new report by Conexxus, a […]
AWS Launches Fraud Detector To Automate AI
AWS continued their course towards world domination today when they launched Fraud Detector – a solution that combines automated customized model creation with realtime use of that model for future transactions. This is useable AI delivered to prevent fraud in realtime. The solution appears to fully automate all the steps of machine learning to deliver […]
Hacker Makes Millions Bounty Hunting Bugs
Tommy DeVoss has spent his life hacking websites and he even spent years in jail for his crime. But now he uses his power for good and can make up to $160,000 a day exposing bugs and holes in big companies’ websites. What used to be a hobby for Tommy has turned into a full-time […]
First Fraud Unicorn Company Now Worth $1 Billion
AI company, Riskified, out of Tel Aviv has just completed a capital raise of $165 million which means the company is now valued at over $1 billion dollars. A “Unicorn” refers to a startup reaching or exceeding $1 Billion in value. That puts Riskified squarely in Unicorn status and make them one of the hottest […]
Every Fraud Vendor On One Handy Graphic Right Here
Confused about what fraud vendor to choose? How about taking a look at this slide to make it an even more daunting task! IDC published a great slide that shows every single fraud vendor that you could work with. Well, they forgot to include PointPredictive on this list – so just about everyone. Keep this […]
SSA Rolls Out Pilot To Curb Synthetic Identity Fraud
If you have been waiting for a silver bullet against synthetic identity fraud, you might be interested to hear that the Social Security Administration is taking big steps to make that happen. The SSA announced an initial enrollment period for the much anticipated electronic Consent Based Social Security Number verification service this week. The SSA […]
Facial Recognition is Being Used to Fight Auto Loan Fraud
Is facial recognition the answer to the growing problem of Auto Lending Fraud? The largest bank in Brazil – Itau Unibanco – believes that it is and they have just launched a solution designed to drastically reduce their fraud losses. The new solution, which is being launched this month across over 10,000 locations, is aimed […]
4 Behavioral Red Flags of Synthetic Fraud Applications
New account and loan fraud is on the rise across the globe and BioCatch this week believes that is in large part due to synthetic identity fraud, which is rendering static identity proofing useless in the application process. BioCatch has unveiled several red flags that they have uncovered that lenders and banks can use to […]
Banks Start Name Checks To Stop Transfer Fraud
UK Banks are implementing a new technique to stop some of the most basic money transfer fraud schemes. Currently, if a consumer wants to transfer money, they are asked for the recipient’s account name, account number, and sort code. However, banks do not currently check if the account name is correct. And this leads to […]
4 Ways Lenders Use Open Banking to Stop Fraud
Open Banking is a trend that is changing the fraud detection landscape. When people refer to this term it refers to the use of Open APIs that enable third-party developers to build applications and services around the financial institution. The concept of this type of thing was really popularized by Steve Jobs and Apple Computer. When he […]
About-Fraud Makes Sense of The Many Fraud Tools
Fraud Managers must manage many risk on a day to day basis. It can be a bit mind boggling when you think about it. Check out all of the different risk that fraud managers are faced with every day. As part of managing that risk they are constantly evaluating new tools and technology to help […]
The Skim Reaper Spells Doom To Skimming Fraud
The Secret Service estimates that over $1 Billion Dollars is stolen from US consumers each year due to card skimmers. The University of Florida has developed a skimming detection device that can instantly identify if a card reader has been compromised by a skimmer in the hopes of reducing losses to consumers. The device is […]
Digital Identity Companies Getting Gobbled Up
Digital Identity is red hot. And large companies are rushing to acquire technology companies that can bolster their defenses. In December 2016, American Express purchased InAuth, a mobile device authentication company, to provide the automated service on the Accertify platform. And just this week, Relx, the British publishing group turned analytics company bought ThreatMetrix for […]
New Fingerprint Card Launched To Stop Fraud
Gemalto announced a new product that should take a bite out of fraud – a new contactless fingerprint card. While fingerprint cards were launched last year, this is the first biometric-powered credit card with a contactless technology. The card will help stop fraud by ensuring that the only person that can use the card is […]
New ScamBaiting Tool Totally Wrecks Fraudsters
It was only a matter of time before someone figured out how to enlist the help of robots in the fight against fraud. And a New Zealand security company, Netsafe, has done just that. They developed a massively creative artificial intelligence program to turn the tables on scammers that send phishing emails. The results are […]
PIPL Indexes The Web To Help Companies Stop Fraud
The Google of your identity search has arrived and they go by the name of PIPL. They have some information on just about every adult with an internet connection on the planet. You have probably never heard of them. But they likely know you. They crawl thousands of websites across the internet and locate lots […]
Instant Income Verification for Auto Lenders
At our company, we are always exploring new technologies to help lenders stop fraud. We’re partnering with companies to bring new technology to help Auto Lenders solve a difficult problem. Income Fraud is difficult to identify. It’s even harder to prevent as tools like 4506T prove costly and take far too much time for auto […]
Industry Strike Force To Obliterate Robo Call Fraud
Annoying debt collectors and scammy IRS impersonators may soon be in for a big surprise when their robot initiated calls end up in a big black hole. An industry task force, headed by AT&T, plans to eliminate Fraudulent Robo Calls by working together to block those fraud and scam calls right at the source. Over […]