Payment fraud

Synthetic IDs are key to solving fraud’s whack-a-mole game


Credit card and bank account fraud have soared during the pandemic, with fraudsters intercepting consumer data via retail and banking disruptions and worsening synthetic ID fraud.


Merchants brace for 'friendly fraud' surge as holiday shopping moves online


Online fraud typically spikes when holiday shopping begins in November, but so-called friendly fraud poses another big threat this year with the pandemic pushing more consumers — and inexperienced merchants — to online sales channels.


COVID-19 has upended fraud detection


The rapid move online boosts false positives, false negatives and actual fraud, says Adara's Nguyen Nguyen.


Biometric spoofing is harder than people think


New authentication methods make it harder to fake biometrics, Eric Setterberg of Fingerprints argues.


Discover takes new approach to fraud as coronavirus drives more online, phone applications


Discover transitioned all of its 8,600 U.S.-based call center personnel to work from home within a matter of days after the U.S. declared a national emergency on March 13. By March 20, Discover had 95% of its agents working from home using a thin-client device to emulate their call center desktops.


Most consumers don't trust mobile payments. There's a way to fix that.


For banks and other financial institutions to survive and thrive in the age of mobile payments and e-commerce, they need to continue to enhance their mobile apps with more innovations, tighter security features and more time-saving capabilities.


Treasury renews Comerica contract for benefits program hit by fraud


Comerica Bank won another five-year contract from the Treasury Department to run the prepaid Direct Express card program despite criticism of how it handled past fraud cases and customer service blunders.


What FICO sees through its window into fraud


Doug Clare explains how the organization uses artificial intelligence to spot crime rings and skimmers.


SOFR-linked deals plummet; 1MDB scandal mastermind settles with DOJ


Issuance of securities backed by the ostensible Libor replacement hit by money market turmoil; Jho Low will surrender luxury assets.


Why fintech rollouts are magnets for fraud


Hackers go in for the kill when challenger banks and others launch retail products. So the companies are forced to step up their defenses — fast.