Fraud stories - Page 7

SMS revolution's downside: Europe tackles fraud epidemic through stringent data laws and sender verification in fight to preserve trust.

Urgency grows for advanced fraud-detecting tech amid rising AI-backed scams, with a McDonald's scam highlighting the potential for proactive AI defence mechanisms.

The ITW Global Leaders Forum and i3Forum have updated their industry-based code to combat International Revenue Share Fraud within the international voice market, targeting the use of premium rate numbers.

Basware has launched an AI-based solution, AP Protect, aimed at helping companies shield from invoice fraud and errors.

As deepfake scams surge globally, employees are urged to be vigilant and adopt common-sense checks, including 'liveness' checks and using internal codewords.

The surge in demand for secure identification boosts the market valuation of biometrics technology, set to rise from USD $50.3bn in 2023 to USD $173.7bn by 2032, according to DataHorizzon Research.

Digital finance firm, BlackLine, unveils its AI-driven Journals Risk Analyser, an innovation set to revolutionise audits, risk management, and compliance in the finance sector.

Cybersecurity firm Radware introduces a new Bot Manager to proactively mitigate advanced bot attacks whilst ensuring genuine user experience.

Amid growing fraud concerns, a study reveals 70% of financial institutions are turning to AI and machine learning to bolster defenses, marking a notable shift towards tech innovation.

BioCatch warns of increasing trend of fraudsters using AI to personalise scams across Europe, with digital fraud and financial crime escalating. Meanwhile, the UK sees notable drop in voice scams.

PPRO has bolstered its leadership, appointing Selene Brett as Chief Legal, Risk and Compliance Officer, and Marc Kuzak and Massimiliano Conte as Legal and Compliance Director respectively to bolster governance.

C-suite executives, often the weakest security link in organisations, are a significant target for cyber threats, amid a surge in cyber attacks.

83% of anti-fraud professionals to deploy generative AI in anti-fraud activities within two years, says 2024 Anti-Fraud Technology Benchmarking Report, despite earlier lag behind expectations.

Mobile app security firm Appdome introduces Geo Compliance feature set to fight mobile fraud and aid brands in verifying user location.

AI-powered accounts payable firm SpendConsole expands into the Middle East, opening a new office in Dubai amidst rising demand for automation solutions.

A Swedish report exposes a disturbing surge in Artificial Inflation of Traffic (AIT) fraud, with 20 billion fraudulent SMS messages costing organisations a total of $1.16 billion in 2023.

This Valentine's Day, Cequence Security's alarming research reveals an increase in scamming activity on dating apps, with fraudsters posing as romantic prospects to exploit users financially.

A study by XConnect and Mobilesquared reveals CPaaS providers are expected to lose nearly a quarter of trust in SMS platforms between 2023 and 2025 due to potential fraud risks.

Online fraud prevention leader SEON steps into Amazon Web Service's Independent Software Vendor Accelerate Program, expanding its pioneering platform's accessibility and reach.

UK telecoms giant, BT Group, launches AI and blockchain services in collaboration with cloud specialist, Optiva, targeting banking, healthcare and insurance sectors.