Banks using behavioral-based controls are detecting malicious accounts in 92% of cases before traditional AML and transaction monitoring systems alert the bank.
Application fraud has spiked - particularly bogus new accounts - and organizations are scrambling to improve fraud detection mechanisms without negatively affecting the legitimate customer's experience. Robin Love of Early Warning shares insights on how to better predict new account risk.
Synthetic identity fraud is the fastest-growing financial crime in the country. By combining real and fabricated personal information, a synthetic identity is specifically designed to look and act like a valid identity - until it doesn’t, leaving financial losses and criminal activity in its wake.
The costs of hacks are rising, the amount of ransomware is rising, and the number of organizations that have been breached will also rise unless organizations take action.
The findings from a penetration test can help you identify risks and gaps in your security controls. Charles Gillman offers tips to maximize the value of your next pen test and, in the process, deliver better results.
The past year has been marked by economic uncertainty stemming from the global pandemic, which has also created an expanded remote workforce and broadened the attack landscape.
Alongside the sad and vast expense of legitimate claims, it is an unfortunate fact that in times of economic hardship, people have a history of taking any opportunity to exploit financial institutions for ill-gotten gain.
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