Fraud & Security

As the nascent artificial-intelligence field develops, financial institutions are readying to adopt AI in their fraud-prevention measures just as criminals are devising AI-enabled ways to make their schemes more harmful. Evidence of this is that 43% of financial institutions surveyed for the DataVisor “2025 Fraud and AML Executive Report” will …

The more than 7,000 U.S. travel agencies have another tool to help prevent fraud with a new service from Travel Industry Solutions. Meanwhile, chargeback-automation platform Chargeflow and Seon, a fraud-prevention and compliance provider, have integrated Chargeflow’s technology into the Seon platform. Altamonte Springs, Fla.-based TIS says its tool is the …

Visa Inc. is heralding a number of advances in payments technologies, among them the growth of digital-identity services related to payments, continued contactless-payments penetration, and progress with its Flex Credential. Visa said its efforts to create secure digital-identity technology, aimed at making the checkout more secure, is advancing. Central to …

Payments-technology provider ACI Worldwide Inc. announced CIMB Bank, said to be the second-largest financial-services provider in Malaysia, has opted for ACI’s services to merge all of the bank’s account-to-account transactions onto a single platform. Bitget Wallet unveiled a new logo as part of an ad campaign to advertise its position as a crypto …

Nearly 42% of breaches suffered by major fintech companies stem from third-party vendors, according to “Defending the Financial Supply Chain: Strengths and Vulnerabilities in Top Fintech Companies,” issued by Security Scorecard, which analyzed 250 major fintechs. The processor FIS Inc. said it will work with Letskipp Ltd., also known as Kipp, to develop …

As scams and fraud continue to wreak havoc on consumers and financial services companies, one fraud-prevention firm has released a service it says will help consumers better self-identify potential deceptive payment decisions. ThreatMark released ScamFlag, a service banks can add to their mobile-banking apps to help give consumers more insight …

The Consumer Financial Protection Bureau has revised a January order for remittance provider Wise that reduces its $450,000 penalty and $2.025 million fine to $45,000 and to redress the harm to consumers. On Jan. 30, the CFPB, under Rohit Chopra who was fired in February, had ordered the previous penalties to resolve claims alleging …

First-party fraud, also known as “friendly fraud,” accounted for 36% of all fraud globally in 2024, up from 15% the previous year, says LexisNexis Risk Solutions’ Cybercrime report. First-party fraud occurs when a consumer disputes a legitimate credit card transaction, claims he never received the order, or misrepresents personal information …

As artificial-intelligence services become more commonplace, their impact on the payments industry, both good and bad, is becoming clear. As a tool to help merchants, AI services can help with a variety of tasks, something restaurant point-of-sale specialist SpotOn Transact LLC will be counting on as it launches its AI-powered …

Buy now, pay later has changed the way people shop. It’s quick, intuitive, and built around modern consumers, a seamless option at checkout that breaks big purchases into manageable moments. No fuss, no friction. For payments organizations, it’s opened new avenues of growth. Adoption is soaring. Merchants are happy. Consumers …