From Transactional Fraud

blog posts

Millennials and Banking: Finding a Balance Between Security and Convenience (with Infographic)

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There’s been a lot of chatter recently about Millennials and their overall impact on the global economy. Read more

EMV Implementation

The Fraud Outlook Post United States’ EMV Implementation

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At the ISMG Fraud Summit in London last week, ISMG’s Tom Field, Vice President of Editorial, offer attendees a preview the yearly Faces of Fraud survey, which looks at how the impact of rising retail point-of-sale Read more

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Fraud Detection with Advanced Outlier Detection Algorithms

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Online fraud costs the global economy more than $400 billion, with more than 800 million personal records stolen in 2013 alone. Increasingly, fraud has diversified to different digital channels, Read more

dormant account fraud

Why Dormant Financial Account Fraud Goes Undetected

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One of the most worrying kinds of fraud that financial institutions face today is related to dormant accounts. As background, accounts are classified as dormant when there is no financial activity Read more

cyber fraud in Europe

Facing Reality – The Rise of Cyber Fraud in Europe

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Although it is difficult to calculate the exact amount of money lost to cyber fraud each year, it is clear that European cyber fraud is on the rise. European card fraud losses increased over 6% Read more

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HCE, APIs and Mobile Payment Apps – A New Opportunity for Fraudsters

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Over the past six months, there have been a number of changes in the way the big payment and mobile technology players have approached security for payment apps.

It had been widely anticipated that the launch of Apple Pay in October 2014 would have a big impact, in part due to the technical aspects of the service. Expectations that the launch would disrupt Read more

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How Same-Day ACH Transactions Would Actually Work

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A couple of weeks ago, we posted a piece discussing how the implementation of same-day Automated Clearing House (ACH) transactions would affect the fraud operations of American banks. Essentially, same-day settlement would provide a very small window of opportunity to stop or reverse payments once authorized and completed. Read more

Apple Pay Security

Using Smart Phones to Improve Bank and Apple Pay Security

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In the last two days, we have seen a lot of media coverage around Apple Pay being used for fraudulent activities by criminals with stolen identities and credit cards. The news were first reported by The Guardian. Many of the articles highlight that fraud is stemming from a back door in the activation process called the “yellow path”. The yellow path is the process by which the bank can put the card activation on hold to do additional verifications. Read more

Same Day ACH

How Same-Day ACH Transactions Will Affect Your Fraud Prevention Operations

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The implementation of same-day Automated Clearing House (ACH) transactions has been getting a good amount of media attention lately. In a letter to NACHA (the Electronic Payments Association) on February 4, the American Bankers Association expressed their support for a proposal to implement same-day ACH transactions. ABA believes that widespread adoption of same-day ACH transactions represents a fundamental step to promote faster payments across the entire industry, as it would level the competitive playing field for all financial institutions while allowing account holders to benefit from expedited settlement. Read more

EMV Year

Happy New EMV Year – Get Ready for the Transitional Ride, and More Online Fraud!

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Happy New EMV Year! That’s right, 2015 marks the beginning of a big year for the retail and payment industry as it marches toward the mandatory October 1, 2015 deadline for EMV implementation in an effort to help reduce fraud in the U.S. Given some of the major retail breaches over the last year, many feel this deadline can’t come soon enough. However, this transition will be an enormous one, and many expect to see several hiccups, or in the spirit of the season, a few holiday bulbs broken, along the way. Read more