Learn more about Online Bank Fraud

We recently took part in a webinar with our partner, NICE Actimize, to discuss how they were incorporating our anti-fraud technology into their online security systems in order to better prevent online banking fraud.
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SIM swapping is an increasingly popular account takeover fraud that has in the past year, claimed high-profile victims including Twitter CEO Jack Dorsey and may have even been the reason behind Barack Obama and Elon Musk tweeting bitcoin scams as recently as mid-July. But it’s more than just public image and reputation that is on the line for victims of this fraud.
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A few weeks ago, a 17-year-old young man was arrested by the police for being behind the hacking of more than 130 Twitter accounts, including that of celebrities such as Bill Gates, Jeff Bezos or Elon Musk. This unprecedented hacking created a stir in public opinion and highlighted, once again, the danger we face: cyber fraud.
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Individuals living in Latin America have been slower to take to mainstream banking. Culturally, there just doesn’t exist the same level of trust in banks and in digital channels to look after hard-earned money, as arguably exists throughout Europe and the USA. Instead, apart from the operations of larger businesses in the area, a large proportion of the population was used to conducting ...
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Checking that a user is who they claim to be whilst they are online is the fundamental basis of cybersecurity. We’re all used to being authenticated at some point in our online journeys, whether it’s through a password login, or an OTP sent to our phones when we’re attempting to make a transaction.
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Traditional criminology treats crime as a simple instrumental process, in which the criminal commits a crime with the objective of obtaining some type of personal benefit. From this perspective, social imbalance and the marginalization of certain groups caused these people to respond by committing crimes with the intention of getting what society had denied them.
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Rapid digital transformation over the past 20 years has enabled banks to both get closer to their customers as well as expand their customer base. However, it has also meant extra competition - particularly with challenger banks entering the scene.
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There's no doubt that the technological advances and new forms of communication are leading us into an increasingly digital world. The ways people interact and communicate, the workplace and the very functioning of the economy and markets are all changing.
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Passwords are on their way out. Many people are already familiar with being authenticated without providing a password, such as through using FaceID on iOS, or by scanning a fingerprint on Android, and organizations are increasingly turning to passwordless authentication; a method of proving an online user’s identity using an alternative factor other than a password for reasons of enhanced ...
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PSD2 is the EU’s Second Payments Services Directive. The regulation focuses heavily on consumer protection, and aims to increase the safety of and scope for innovation amongst payments services.
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