FICO

MAY 19, 2021

What Is First-Party Fraud? From banks to telcos to debt collection agencies, what looks like unrecoverable bad debt may in fact be first-party fraud. For many people, the word “fraud” evokes images of shadowy criminals using stolen identities and purloined credit card information to commit financial crimes. by Matt Cox.

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FICO

JULY 31, 2019

Fraud management and AML compliance are both about tackling financial crime, but often they are managed by different teams, each with their own processes and technology. On the surface there are clearly reasons why the fraud and AML compliance departments should work together. The likely benefits of convergence.

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FICO

JULY 21, 2020

As my colleague TJ Horan says in his post , the worlds of fraud and compliance are moving closer together. The objectives of the fraud department are different from those of the compliance team and traditionally they have come at the thorny issue of accurately identifying and understanding their customers from different angles.

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FICO

JULY 30, 2019

Before getting started, CSPs should determine who “own”’ and is accountable for subscription fraud. Is it the fraud team? Also, is there a clear and agreed fraud risk appetite that has exec sponsorship and is agreed by all stakeholders? In part, this is due to the ever-changing nature of fraud. Credit risk?

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FICO

OCTOBER 29, 2018

The recent fascination with artificial intelligence and machine learning has made some of us ( naturally intelligent) humans confused about the role that these technologies play in the broader field of fraud analytics. Fraud analytics is an umbrella term covering a lot of technologies — let’s look at the two big categories.

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FICO

NOVEMBER 24, 2020

Traditionally, credit application fraud has been perpetrated in two ways: First-party fraud – where the criminal uses their own identity to commit fraud, even if they obscure some details in order to prevent detection. Where fraud data sharing is in place, their scope may well be limited across multiple organizations.

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FICO

MAY 19, 2021

For many people, the word “fraud” evokes images of shadowy criminals using stolen identities and purloined credit card information to commit financial crimes. Perhaps surprisingly, consumers sometimes use their own personal information to commit fraud. Both of these crimes are first-party fraud.

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FICO

JULY 10, 2018

This is the second in my series on five keys to using AI and machine learning in fraud detection. A robust enterprise fraud solution combines a range of analytic models and profiles, which contain the details necessary to understand evolving transaction patterns in real time. Key 2 is behavioral analytics.

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PYMNTS

APRIL 1, 2020

We will be tracing everything around food production, and what we do in terms of managing animals because this (coronavirus) came from animals,” said NZX Head of Analytics Julia Jones. A blockchain system can also attack fraud in the food business. And it could be one of the killer apps for blockchain. “We

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FICO

NOVEMBER 5, 2018

Countries that already have real-time payment schemes have had to manage the related crime. The ‘ Modernization Target State’ lays out Payments Canada’s vision for the future and it does talk about fraud prevention. The post Will Real-Time Rails in Canada Bring More Fraud? appeared first on FICO.

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Chris Skinner

MARCH 3, 2017

Just to put this in context, there are some very good white papers out there on the subject. Launched work to address the industry’s most pressing payment system security issues: identity management, data protection, and fraud and risk information-sharing. Well that research survey is now live.

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Abrigo

JUNE 23, 2020

We understand the trust you put in us when you use our BSA/AML and fraud software and we make the same investment in your program’s success. From day one with Abrigo, you will have a dedicated Client Success Manager (CSM) who will serve as your advocate within the company. Fraud Prevention. Fraud Trends. Fraud Prevention.

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FICO

AUGUST 1, 2018

Luckily, Decision Management (DM) technology has been invented and has come a long way since AC/DC released this epic anthem in 1975. With solutions like the FICO Decision Management Platform (DMP), the journey from novice to rockstar can be faster than a speed metal riff. trillion. Merchant Onboarding: The need for speed.

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Management DC Examples Customer Experience 58

PYMNTS

MAY 10, 2019

In a new PYMNTS interview, David Barnhardt, executive vice president of product at GIACT , which offers fraud detection and account validation tools, talks about an upcoming change by NACHA, national administrator of the ACH network, to make internet-initiated debit transactions (WEB debits) safer and more seamless. New NACHA Rule.

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Payments Fraud Security Customer Experience 178

PYMNTS

MAY 3, 2016

In its latest white paper, titled “Omni-Channel Payments for Merchants: Myth or Reality?,” Regulation is a thorny issue for the industry – for some, a necessary intervention while, for others, often outdated, hard to implement in a timely manner and causing unnecessary friction in the payments value chain,” the white paper stated.

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FICO

JULY 2, 2018

Payment fraud is an ideal use case for machine learning and artificial intelligence (AI), and has a long track record of successful use. Recently, however, there has been so much hype around the use of AI and machine learning in fraud detection that it has been difficult for many to distinguish myth from reality.

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FICO

NOVEMBER 7, 2018

Health care payers use a variety of tools and solutions to fight fraud, waste and abuse in their fee-for-service healthcare claims. But how can they help reduce your losses to health care fraud, waste and abuse? For more information, see our white paper on Uncovering More Insurance Fraud with Analytics.

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FICO

JUNE 29, 2017

FICO has just released an interactive infographic on European card fraud trends since 2006, showing that card fraud in the 19 countries studied has hit a new high of €1.8 In the UK, card fraud also a hit a new high in 2016, £618 million, though the rise was less than the rise from 2014 to 2015. CNP Fraud Takes Over.

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FICO

OCTOBER 12, 2016

Globally, the European ATM Security Team reported a 19% increase in ATM-related fraud attacks from 2014 to 2015. Earlier this year, FICO reported a six-fold increase in US ATM fraud from 2014 to 2015. To learn more about this technology, see our white paper Putting a Wide-Angle Lens on Fraud. What else can we do?

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PYMNTS

OCTOBER 31, 2018

As noted by Nexus, about 33 percent of firms said they will use blockchain to combat fraud, while 11 percent will use blockchain to help cut costs, and 10 percent see blockchain as useful in supply chain management. As reported in July via white paper, the U.K.

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blockchain Fraud Data Study 201

FICO

APRIL 8, 2020

Increased use of biometrics to verify identity is likely to continue – so what steps need to be in place in order manage identity using biometrics? If the device profile has also changed, you know there is a potential SIM swap fraud and prevent access or invoke step-up authentication. Identity validation. Authentication.

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PYMNTS

AUGUST 18, 2017

Between account takeovers, business logic abuse, loyalty and reward points fraud and other cybersecurity attack methods, companies are not only suffering financial damages but brand image damages too. Here are a few of the top things every eTailer should know about fraud in 2017. Card Not Present Fraud Is A Big Threat.

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FICO

JULY 3, 2018

Payment fraud is an ideal use case for machine learning and artificial intelligence (AI), and has a long track record of successful use. Recently, however, there has been so much hype around the use of AI and machine learning in fraud detection that it has been difficult for many to distinguish myth from reality.

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FICO

SEPTEMBER 12, 2018

While AI has been used for more than 25 years in credit fraud detection , few people outside the banking sphere were aware of this. And it’s not just fraud detection people are asking about — they also want to know about other uses of AI and machine learning for financial crime protection, including in cybersecurity and money laundering.

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FICO

SEPTEMBER 19, 2018

While AI has been used for more than 25 years in credit fraud detection , few people outside the banking sphere were aware of this. And it’s not just fraud detection people are asking about — they also want to know about other uses of AI and machine learning for financial crime protection, including in cybersecurity and money laundering.

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FICO

OCTOBER 4, 2017

So it’s not surprising to find machine learning being advocated as the answer for payment service providers looking to manage fraud in the world of PSD2. Why does PSD2 make machine learning more important than ever in the fight against fraud? Open Banking Will Disrupt Your Fraud Detection.

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PYMNTS

SEPTEMBER 19, 2017

Eighty percent of treasurers surveyed identified cash management surveys as the top area under review, followed by liquidity solutions, payables, FX and commercial lending. Regardless of FinTechs and the solutions banks choose to deploy, Finastra and Celent emphasized the importance of integration.

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Innovation Survey blockchain Lending 108

Gonzobanker

OCTOBER 16, 2017

Even though the company had made a significant ($20 million+) investment in its fraud suite, the total package just wasn’t enough to compete. There had been a lack of innovation on the CO-OP platform as well as a significant fraud event on the IVR. A flurry of fraud related products rolled out in 2017.

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Insights on Business

FEBRUARY 11, 2019

In the beginning of the cloud computing era, “private clouds” promised the scalability, flexibility and manageability of public clouds, combined with the security and control of on-premises data center environments. But some early private clouds, in fact, were neither private nor clouds.

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FICO

JULY 18, 2022

FICO leverages machine learning (ML) in solutions ranging from fraud detection to marketing. To learn more about FICO’s research in the use of artificial intelligence and machine learning for credit scoring models in the financial services industry, please refer to the following white paper: [link]. . by Can Arkali.

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PYMNTS

NOVEMBER 30, 2017

The German financial institution (FI) recently released a white paper urging banks and account servicing payment service providers (ASPSPs) to implement PSD2-related changes and reforms within their institution. It acknowledges several hurdles FIs continue to face in that effort. 12, 2018, deadline for implementation passes.

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FICO

MARCH 18, 2020

With acceptance of biometrics becoming mainstream, and the need for fraud protection ever front of mind, how can banks use biometrics in order to be more effective and efficient? Fraud—do you need to change your approach to thwart a change or increase in attacks. Intelligent Orchestration of Multi-Factor Authentication.

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FICO

MARCH 30, 2020

In some cases, these will be technically defined, in some cases related to social engineering and in others these contexts will be patterns of activity that indicate a higher fraud risk, for example, changing an address and requesting a new credit card. Managed Risk. is low and so are the authentication requirements.

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FICO

MARCH 24, 2021

In today’s world, given the various alternative data resources available , the challenge for lenders becomes managing a diverse set of data, especially when making decisions on people who are new to credit. For more information, see our white paper on “Can Alternative Data Expand Credit Access?”.

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FICO

AUGUST 15, 2018

FICO machine learning capabilities have been around for more than 25 years, initially in fraud and credit risk, and extending to other operational and customer lifecycle use cases. White Paper: Why a Decision-First Approach Is Critical for Competitive Advantage. White Paper: 12 Secrets of Business Rules Success.

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NCR

JULY 12, 2017

When it comes to fraud detection and prevention, for example, big data analytics tools can offer banks much better, real-time insight into potentially fraudulent transactions. Such investments must also be reinforced with new policies, training, and change management initiatives.

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FICO

DECEMBER 11, 2017

Instead of suggesting a customer may be inclined to buy something, a prescriptive model suggests the offer, the price, and, if implemented as part of a larger decision management strategy, delivers that offer in real time via the preferred channel (a web offer, email, via a mobile app, or through a call center or retail kiosk).

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