On The Web

nbsp;

Risk

Crooks Abuse Google Analytics to Conceal Theft of Payment Card Data

June 23 2020

• in
• Card fraud

“Hackers are abusing Google Analytics so that they can more covertly siphon stolen credit card data out of infected ecommerce sites, researchers reported on Monday. Payment card skimming used to refer solely to the practice of infecting point-of-sale machines in brick-and-mortar stores. The malware would extract credit card numbers and other data. Attackers would then […]

nbsp;

Risk

Stolen Credit Card Data Is Worth Much Less During the Pandemic

July 2 2020

• in
• Card fraud

“Marketplaces, even cybercriminal ones, are subject to the laws of supply and demand. Like more reputable merchants, purveyors of stolen goods have been hit by the coronavirus pandemic. As COVID-19 ravaged the world this year—forcing businesses to close and people to stay at home—demand for stolen credit card data has dropped on dark web shops.”

nbsp;

Risk

Borrower, Beware: Credit-Card Fraud Attempts Rise During the Coronavirus Crisis

May 27 2020

• in
• Card fraud
• Phishing

“Fraudsters are increasingly using pilfered credit-card numbers and phishing attacks to prey on overwhelmed consumers and banks during the coronavirus pandemic. There has been a big jump in attempted credit- and debit-card fraud since coronavirus shut down the U.S. economy earlier this year, according to Fidelity National Information Services Inc., known as FIS, which assists […]

On The Wires

nbsp;

Domains

Vesta Secures $125 Million Investment From Goldfinch Partners

May 29 2020

• in
• Ecommerce fraud
• Remote Commerce

“Vesta , a fintech pioneer in fraud protection and fully guaranteed payment technologies, has secured $125 million in new growth capital from private equity firm Goldfinch Partners . The funding will provide Vesta with the resources to invest in growth and continue the global deployment of its fraud protection and e-commerce payment solutions. Vesta enables […]

nbsp;

Domains

WorldRemit Partners With Onfido to Deliver a Simple, and Faster Verification Process for Customers

May 26 2020

• in
• Identity verification
• Remittances

“WorldRemit has today announced a new partnership with Onfido, the global identity verification and authentication company, to make it easier and quicker for customers to open an account with WorldRemit, to send money abroad. Partnering with Onfido will allow the FCA regulated international payments company to further automate the Know Your Customer (KYC) decision-making process […]

nbsp;

Regulation

Barclaycard Payments Partners With Kount to Deliver Industry-leading Fraud Prevention and Prepare Businesses for Strong Customer Authentication (SCA)

June 2 2020

• in
• Ecommerce fraud
• Strong Customer Authentication (SCA)

“Barclaycard Payments, which processes almost 40 per cent of card transactions in the UK, has announced a new partnership with leading fraud prevention provider Kount to give Barclays Transact customers access to award-winning fraud detection software. Barclays Transact is a suite of tools designed to help merchants make their online transactions both simpler and safer. […]

nbsp;

Companies

Visa Introduces Advanced Identity Score to Help Financial Institutions Prevent New Account Fraud

June 22 2020

• in
• Identity verification
• Visa

“Visa Inc. today announced a digital tool to help U.S. financial institutions with their efforts to combat new account fraud – estimated at $10 billion a year – and give consumers greater peace of mind. Advanced Identity Score combines Visa’s artificial intelligence and predictive machine learning capabilities with application and identity related data to generate […]

nbsp;

Risk

Credorax Partners With Feedzai for Innovative Anti-Money Laundering Solution

July 1 2020

• in
• Card fraud
• Money laundering

“Today, licensed bank and smart payments provider, Credorax, and risk management platform Feedzai announced a new partnership to provide Credorax merchants with advanced anti-money laundering (AML) and anti-fraud capabilities, leading to increased payment security, reduced operational costs and an improved customer experience. The partnership between Credorax and Feedzai first began in 2018, when Credorax elected […]

nbsp;

Reports

Federal Reserve System White Paper Examines Mitigation of Synthetic Identity Payments Fraud

July 2 2020

• in
• Synthetic identity

“The Federal Reserve today released the latest in a series of publications about synthetic identity fraud – a white paper titled Mitigating Synthetic Identity Fraud in the U.S. Payment System. A synthetic identity is created by using a combination of real information (such as a legitimate Social Security number) and fictitious information (which can include […]

nbsp;

Risk

Ekata Launches New Identity Verification Tool to Fight Digital Fraud

June 16 2020

• in
• Identity verification

“Ekata today announced the release of the latest innovation to its global identity verification dataset, Network Score. Network Score is a machine learning prediction that enables businesses to better identify good and bad customers based on a series of insights. The new dataset flags potentially risky digital transactions and fraudulent customers by analyzing the activity […]