Tag: fraud detection

AI and ML models have become an essential part of the FinTech sector, predicting outcomes and making decisions, especially in fraud.

Effectiv, a real-time fraud and risk management platform servicing financial institutions and FinTech companies, has announced a fresh round of funding.

Chargeback fraud, an ever-present issue affecting businesses of all kinds and sizes, results in losses totalling to billions annually. The surge in eCommerce has coincided with an increase in such fraudulent activities, and this alarming trend is expected to continue.

Flagright recently shone a light on the topic of fraud detection in FinTech, with a battle against synthetic identity theft ongoing.

Pay.UK, a central infrastructure provider for payment services in the UK, has declared a unique partnership with global payments giant, Visa, predictive analytics company, Synectics Solutions, and AI-based fraud prevention firm, Featurespace.

Pasabi, the UK Trust & Safety platform, is primed to expand its global footprint, having successfully secured a multi-million-dollar investment.

Sumsub, a full-cycle verification platform, recently unveiled alarming data that shows an unprecedented rise in forced verification and deepfake-related fraud cases across the UK and Europe. The findings were drawn from the company's anonymised verification data collected from its clients.

In a recent post by Alessa, the company detailed how businesses can tackle account takeover fraud and ways to detect signs of it. 

London-based ComplyAdvantage, the forerunner in financial crime intelligence, is stepping up the fight against payment fraud with the launch of its novel AI-powered solution, Fraud Detection.

DataVisor, a global pioneer in online fraud detection and financial services risk management, has secured strategic funding from CMFG Ventures, the venture capital subsidiary of CUNA Mutual Group.