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Read More »Early Warning’s New CEO; Helping Solve EBT Fraud; Plus Weekly Recap
Commentary: How Emerging Technologies Can Help Solve EBT Fraud
Instances of electronic benefits transfer (EBT) fraud have become more prevalent in the United States as criminals become more brazen and increasingly prey on society’s most vulnerable. Supplemental Nutrition Assistance Program (SNAP) beneficiaries are one of the largest targets for EBT fraud. Last year, SNAP distributed over $113.9 billion to …
Read More »Eye On E-Commerce: Online Shoppers Value Payment Security and Fraud Prevention; Instacart Adds New Features
Payment security and fraud play a key role in cart abandonment for e-commerce merchants, according to a study by e-commerce solutions provider Radial Inc. The study found that 48% of respondents cited Web site security and 45% listed security of personally identifiable information as their primary reasons for shopping cart …
Read More »FedNow Launch Imminent? Eye on Text-to-Pay; Feedzai’s AI-Based Railgun Takes on Fraud
Feedzai Launches Railgun, an AI-Based Fraud-Detection Engine
Risk-management technology provider Feedzai has harnessed artificial intelligence with the introduction of Railgun, its latest fraud-detection engine. What differentiates Railgun, according to Feedzai, is that it taps real-time data such as customer behavior patterns and the use of specific cards across merchant networks over longer periods of time. As a …
Read More »FedNow Lists 57 Initial Participants; Mitek’s Turn to Fraud Control; Plus Weekly Recap
Mitek Turns to Fraud Control As Remote Deposit Capture Matures
Mitek Systems Inc., provider of remote deposit capture and fraud-prevention technology, says revenue for fiscal 2022 grew 20% to $143.9 million from fiscal 2021’s $119.8 million. Much of the growth came from more demand for the company’s fraud-control offerings. San Diego-based Mitek is a leading vendor of remote deposit technology. …
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