Cryptocurrency Scams Account for Half of Fraud Losses
Cryptocurrency-related complaints made up just 10% of all financial fraud reports to the FBI last year, with 69,000 complaints. However, these cases accounted for a staggering 50% of the total financial losses.
Over a third of fraud attempts targeting financial institutions now use AI
Source: Signicat
Signicat, the European leader in digital identity and fraud prevention solutions, today announces a new report on the growing threat of AI-driven identity fraud in partnership with independent consultancy Consult Hyperion.
Mastercard Aims for 100% E-Commerce Tokenisation in Europe by 2030
Mastercard has set an ambitious goal to achieve 100% e-commerce tokenisation in Europe by 2030. This initiative aims to phase out manual card entry, making online shopping safer and more accessible for consumers and merchants alike.
Chase for Business survey reveals tech inspiration driving SMEs
Source: Chase
Leading financial services provider for small businesses, Chase for Business survey revealed it’s findings indicating continued optimism among small business owners and their growing willingness to invest in digital solutions.
Bank of England Urges Payment Firms to Enhance Operational Resilience
Payment companies have received a warning from the Bank of England regarding the necessity to enhance their readiness for upcoming 'operational resilience' standards set to be implemented next year.
Revolut releases Financial Crime and Consumer Security Report
Source: Revolut
Revolut, the global financial app with more than 40 million customers worldwide, has today announced the release of its first Financial Crime and Consumer Security Report, containing exclusive scam and fraud insights.
Central Banks Explore Tokenization for Cross-Border Payments in Project Agorá
A consortium of seven central banks has partnered with the Bank for International Settlements (BIS) to delve into the potential of tokenization for facilitating cross-border payments.
FIS taps accelerator alumnus Stratyfy to boost card fraud detection with AI
Source: FIS
Global financial technology leader FIS (NYSE: FIS) has today announced that its SecurLOCK card fraud management solution is poised to deliver an increase in accurately identified and prevented fraudulent card transactions utilizing a new collaboration with FIS Fintech Accelerator alumnus Stratyfy.
