December, 2024

• 1 December

  An Integrated Approach to Fraud

  

  As criminals gain in sophistication, banks are at risk of complacency. A new approach employs a smarter combination of AI and allied technologies. With digital transactions becoming the daily norm, so is financial crime. Criminals are becoming even savvier in how they target banks, payment providers. and financial institutions. To …

November, 2024

• 1 November

  Bad Actors And the Automated Clearing House

  

  While ACH fraud is persistent, so too are efforts to thwart criminals intending to disrupt legitimate payments. Imposters, account takeovers, and phishing cause a lot of payments headaches, and in this respect the automated clearing house channel is no different. Criminals even adapt familiar check-kiting schemes—which rely on float to …

July, 2024

• 1 July

  It’s Past Time to Dump the Mag Stripe

  

  The next step in card security should be obvious. So why does the industry hesitate? Between EMV and tokenization, merchants today can accept credit and debit cards with little risk, card-present or not. Network tokenization is merely the latest evolution toward the ultimate goal, the demise of the payment account …

April, 2023

• 1 April

  Why the Password Is Going Extinct

  

  The vulnerability of passwords to hackers is giving rise to a host of passwordless authentication solutions. Whether it’s a financial account, an account with an e-commerce retailer, or medical records, user names and passwords have been the most common authentication method for digitally accessing an account. Trouble is, passwords are …

March, 2023

• 1 March

  Understanding the ‘Casual’ Fraudster

  

  Fraud isn’t always the work of hardened criminals. Online sellers must learn how to spot—and thwart—clever amateur thieves, as well. Did you take up a new hobby during the pandemic? I finally picked up the guitar that had been lying there since high school. Many new hobbies have become cherished …

September, 2022

• 1 September

  The Value of a Token

  

  As fraud grows more sophisticated, tokenization and encryption have become the foundational components of payment security at the point of sale and online. Without tokenization and encryption technology, it’s a safe bet that today’s ever-increasing volume of digital payments, at the point of sale and online, would not be what …

June, 2022

• 1 June

  Chargeback Mitigation: How to Scale up Without Slipping up

  

  As transaction volumes grow ever larger, applying technology the right way becomes critical. Chargebacks are the black sheep of the payments industry. While new technologies have changed the payments space dramatically in recent years, chargebacks have barely evolved. For both merchants and card issuers, they are still almost always handled …

May, 2022

• 1 May

  Beware the False Positive

  

  Rejections that should have been approvals are on the rise. Are merchants willing to adjust their risk thresholds for a higher approval rate? False positives—legitimate transactions that are declined because they look suspicious at first glance—are a touchy subject for merchants. Not only do they cost a sale, some customers …

February, 2022

• 1 February

  Top Tips for Preventing ACH Credit Fraud

  

  It’s become more common and harder to detect. Here are some measures that can help cut it down to size. Forced to work from home during Covid-19, accounts-payable departments have accelerated plans to move away from paper checks and pay more of their suppliers through the automated clearing house. That, …

January, 2022

• 1 January

  Is AML Worth the Investment?

  

  Technology can help prevent losses as well as fines from regulators. As any business that is required to implement anti-money laundering (AML) and Know Your Customer (KYC) initiatives knows, those processes can be complicated, lengthy, and expensive. They suck up a large proportion of resources without necessarily providing full protection …