11 Companies That Teach Machines To Detect Fraud
Machine Learning for fraud is big business. Particularly here in San Diego where companies like HNC Software pioneered the use of it over 20 years ago to solve the problem of credit card fraud when there were few fraud detection solutions available. Since HNC, many other companies have sprouted up using machine learning to […]
Online Merchants Will Not Be Liable For Fraud In 3 Years
Here is a bold statement. “Within three years merchants will no longer be liable for credit card fraud online”, said Skye Spear, vice president of partnerships at Signifyd That quote in Forbes caught my attention. Then I took a closer look at what Skye Spear and his company are doing to make that possible. Yes, […]
The Enron Fraud Experience Can Be Yours With This App
There has never been a larger, more systematic, or creatively planned fraud swindle the likes of Enron. The story of Enron was one of greed and corruption, but it was also one of a toxic sales culture where insiders were hell bent on bending ethics and business practices at the expense of investors and customers. I […]
Call Protect – Get This Fraud Service for Family Members
There is a new way to protect yourself and your family from being a victim of identity theft and fraud. ATT just announced a new app called “Call Protect” which you can download straight to your phone to protect you from fraudsters. It promises to stop spam calls, calls from fraudsters dialing for dollars and […]
Top Vendors That Knock Out Fraud By Fraud Type
Thinking of buying a fraud solution? There are hundreds of vendors out there selling something and everything for each fraud type. I compiled a list of the top vendors for each fraud type based on market share. Each of these fraud solutions vendors have established a niche in fraud detection for a particular area. I […]
Fraud Consortium Rescues Lenders from Fraud
ShotGunning Fraud is no joke. I wrote about the problem last week in this article – Don’t Get Hit With ShotGun Fraud, Arm Yourself. The problem of shotgunning crosses multiple industries from Home Equity Loans and Mobile Check Deposits and wreaks havoc on banks causing billions of dollars in losses annually. The fraudsters […]
Good News, You’re Not Responsible for Fraud
The prepaid card industry is on fire. Having grown from $1 billion in 2003 to $112 billion estimated today it is the hottest financial product around. But as a consumer, I was always afraid to buy or use prepaid cards. It was always like carrying cash in your wallet which I never like to do. […]
MotionCode’s Dynamic CVV2 Will Kill CNP Fraud
I wrote a few weeks back about the rapid rise of Online Fraud. In 2016 fraud reports are up 400% thanks to BotNet attacks and the rollout of EMV technology. There just seems to be no end to the increases in CNP across the world and despite lots of controls and fraud tools there are […]
Is It Still Too Early to Call Chip Card a Disaster?
I just got back from CVS. I used my credit card there. It was brutal. I have to tell you. It has never been more confusing, inconvenient and downright difficult to pay at the cashier these days. Truth. Using my credit used to be simple and fast. I would go the cashier. They would finish […]
Is LifeLock Really Worth the Price You Pay For It?
Is LifeLock Really Worth It? This is one of the questions I am most frequently asked by people when I tell them I am in Fraud Management. So, if you don’t want to read any further. Here is my short answer – Yes! But, not absolutely always. The real answer is, it depends. If you […]