Banking newcomer Volt is leveraging a fraud protection solution from IBM which uses AI and machine learning to analyse behavioural and fraudulent patterns. During today’s Data and AI Forum hosted by IBM, the challenger bank announced it integrated IBM’s Safer Payments solution into its online banking platform 10 weeks ago.
Another executive from troubled German fintech Wirecard was arrested yesterday and questioned by German prosecutors. He is the second person from the one-time darling of the European tech sector to be hauled in over a burgeoning scandal involving missing billions. Wirecard was launched during the first dotcom boom in the
Businesses in ecommerce, airline ticketing, money transfer and banking services will collectively lose over $200 billion to online payment fraud between 2020 and 2024, driven by the increased sophistication of fraud attempts and the rising number of attack vectors, according to Juniper Research. The continued high level of data breaches
A newly revealed ad fraud bot is taking advantage of large unaudited ads.txt files, impacting billions of video advertisements and stealing millions of dollars from advertisers, according to ad verification company Integral Ad Science. IAS says the bot, known as the 404bot in reference to its domain spoofing, has existed
Amazon Web Services today revealed several new cloud services ranging from new databases to new AI and machine learning tools, some with particular importance for Australian customers, according to the company. Over 100,000 independent enterprises in Australia, ranging from startups to the big banks and government agencies, are running at
Retail spend is expected to increase by $6 trillion globally between 2018 and 2023, taking total spend to $30 trillion, with growth driven by a combination of alternative payment mechanisms (most notably wallets) and online spend. The figures are contained in a new study from Juniper Research which also identified
Retailers are set to lose some $130 billion in digital CNP (Card-not-Present) fraud between 2018 and 2023, according to a study by Juniper Research. the study highlighted that increasingly complex approaches by fraudsters, alongside retailers’ intertia in adapting to new fraud prevention requirements, would be key factors behind the increases
Annual online payment fraud losses from ecommerce, airline ticketing, money transfer and banking services, will reach $48 billion by 2023; up from the $22 billion in losses projected for 2018, according to a new study from Juniper Research. The new research, Online Payment Fraud: Emerging Threats, Segment Analysis & Market Forecasts
The new and more efficient payments system means new and more efficient payments fraud. Here’s how to prepare
Most credit card fraud takes place online or over the phone. It’s not the cards that are stolen, but the details. The Australian Payments Network finds they are used to amass 85 per cent of the money stolen using Australian credit cards, without the need to steal the cards themselves.
Ad safety company Pixalate has uncovered what it says is a ‘sophisticated’ mobile app fraud potentially costing advertisers up to $75 million a year if allowed to run unchecked. The company says it discovered that Android app MegaCast — which allows users to broadcast content to Google’s Chromecast — was