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How Can Financial Institutions Put a Stop to Account Takeover Attacks

Financial Institutions (FI’s) can detect and prevent account takeover attacks using continuous monitoring and adaptive multi-factor authentication. Account takeover (ATO) fraud is one of the top causes of fraud losses for banks and financial institutions. An account takeover occurs when

Security

Rise of Financial Crime 4.0 Calls for Use of Advanced Technologies

The continued proliferation of digital technologies and the ongoing shift to online channels have heralded a new age of financial crime, one marked by undefined geographies and increased sophistication of attacks. In light of this new reality, professionals in the

AI Security

ADVANCE.AI Integrates Ekata’s B2B Digital Identity Solutions Into Its Services

Ekata, a Mastercard company that empowers businesses to enable frictionless transactions and combat fraud, announced a partnership with Singapore-based artificial intelligence (AI) and big data company ADVANCE.AI to offer B2B digital identity solutions and risk products across South and Southeast

E-commerce Security

Bot Attacks Are on the Rise in APAC and They Are Targeting Online Shoppers

Asia-Pacific (APAC) continues to see higher attack rates in comparison to global figures, a trend that’s been sustained by the ongoing digital shift induced by COVID-19. According to LexisNexis Risk Solutions’ latest biannual Cybercrime Report, H1 2021 was marked by

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4 Priorities for Banks to Secure Digital and Mobile Channels

During the pandemic, the number of data breaches has increased drastically: cyberattacks targeting banks have even grown by 238 percent. This fraud surge goes hand in hand with the growing use of the mobile and digital banking channels. While this

Regtech Security Sponsored Post

4 Must-Haves to Build an Effective Online Fraud Prevention and Detection Strategy

Financial crime has increased in recent years and is constantly evolving. With total combined fraud losses reaching a record high of $56 billion in 2020, financial organisations around the world are facing a growing challenge from fraudsters who are becoming

Security

MAS Plans to Roll Out ‘COSMIC’ Platform to Combat Money Laundering by 2023

The Monetary Authority of Singapore (MAS) plans to launch a digital platform for financial institutions (FIs) to share with one another relevant information on customers and transactions to prevent money laundering (ML), terrorism financing (TF) and proliferation financing (PF) .

Security

How Southeast Asia’s Biggest Economies Can Boost Their Fraud Management Systems

Last year, a wave of digital transformation took over the world, and along with it, so did growing concerns about fraud and financial crime. In Southeast Asia, one in every three people experienced online fraud amidst this digital transformation last

Security

Security a Bigger Concern for Online Shoppers Than User Experience

The COVID-19 pandemic has forced both consumers and merchants to embrace online channels and digital payments at an accelerated pace, a shift that presented new sets of challenges, including rising fraud and security risks. Separate surveys conducted by payment network

E-commerce Payments Security

In Southeast Asia, New Digital Habits Boost Digital Payments and Consequently Fraud

COVID-19 has sparked a global spike in e-commerce sales and online businesses as lockdowns force consumers to turn to online channels to shop. As everyone embraces e-commerce, cashless payment methods including cards and digital wallets have surged, bringing with it