Fraud detection and prevention costs merchants more than fraud itself
European merchants spent nearly €7 billion on fraud detection and prevention in 2021 alone – more than three times the value lost to fraud in the same year, CMSPI estimates. …
Look out for identity theft and fraud crimes as tax season begins
Now more than ever, life happens online. But, with greater connectedness comes enhanced risk. Millions of Americans fall victim to identity theft and fraud each year, …
How hackers could use popular virtual reality headsets to steal sensitive information
Researchers at Rutgers University-New Brunswick have published “Face-Mic,” the first work examining how voice command features on virtual reality headsets could lead to major …
Fraud and scam activity hits all-time high
Bolster published a report which shows an unprecedented level of fraud activity, spurred by the continuing growth of digital commerce, leading to an explosion of companies’ …
Soaring losses accelerate investments in anti-fraud tech
The pandemic has opened a Pandora’s box of global fraud. Faced with a seemingly endless onslaught of schemes and scams, anti-fraud pros have doubled down on analytics, …
Online fraud skyrocketing: Gaming, streaming, social media, travel and ecommerce hit the most
An Arkose Labs report is warning UK commerce that it faces its most challenging year ever. Experts analyzed over 150 billion transaction requests across 254 countries and …
AI can spot biometric spoofing attacks with ease
Humans have far greater difficulty identifying images of biometric spoofing attacks compared to computers performing the same task, according to research released by ID …
Why cybersecurity and anti-fraud teams need to collaborate
Over the past couple of years, there has been unprecedented change in the world of financial services. The shift to online banking has accelerated the need for digital …
People working in IT related roles equally susceptible to phishing attempts as the general population
Phishing emails that mimic HR announcements or ask for assistance with invoicing get the most clicks from recipients, according to a study from F-Secure. The study, which …
Number of data compromises reaching all-time high
According to an Identity Theft Resource Center (ITRC) report, the overall number of data compromises (1,862) is up more than 68 percent compared to 2020. The new record number …
Use of AI to fight insurance fraud hits all-time high
Insurers’ use of predictive analytics to fight fraud has reached an all-time high, according to an insurance fraud technology study by the Coalition Against Insurance Fraud …
Fraud detection and prevention market to reach $75,139.66 million by 2028
The global fraud detection and prevention market is expected to grow from $26,511.84 million in 2021 to $75,139.66 million by 2028; it is estimated to register a CAGR of 16.0% …
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