Tag "fraud"

Making Sense of Fintech Fraud in APAC

As technological advances significantly change people’s daily lives, the benefits from these advances essentially boil down to one aspect, convenience. Technology has allowed business and social activities to expand and remain primarily online. This includes transactional decisions from purchasing tangible

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Tokenization Becomes the Norm in Online Payments

Southeast Asia’s digital economy is booming, driven by an extraordinary shift in consumer behavior, soaring digital consumption and the rise of digital merchants. But this explosive growth is also attracting criminals and putting merchants, banks and consumers at risk of

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4 Anti-Fraud Tech Trends in the Insurance Industry

Since the start of the COVID-19 pandemic, fraud and suspicious activity have been on the rise. In the insurance industry, fraud attempts have become increasingly sophisticated, forcing insurance companies to embrace technology and set out anti-fraud technology to identify suspicious

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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

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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

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10 Largest Crypto Hacks, Heists and Exploits of the Past 15 Months

Cryptocurrency-related hacks and scams continue to cost businesses and consumers billions in losses each year. Although overall crypto-related fraud activities have declined since at least 2019, data from blockchain analytics and crypto intelligence firm Ciphertrace suggests that criminals are now

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In APAC, Southeast Asia Consumers are Most Receptive to Challenger Banks

Two out of three banking customers in Asia Pacific (APAC) are either relatively open or inclined to consider fintechs and challenger banks which they perceive as being successful in addressing customer pain-points and facilitating customer journeys, a new survey found.

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Banks Need to Step Up as Fraudsters Target Surge in Digital Adoption by First Time Users

The COVID-19 pandemic has forced organisations and individuals to embrace new practices and move to online channels, bringing with it a significant increase in fraudulent activities. Affirming this situation, cybersecurity firm Kaspersky recorded a 20% increase in the share of

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APAC’s Financial Industry Sees Surge in New Account Creation Fraud

In H1 2020, new account creations saw the highest rate of attack across all transaction types within financial services, according to a new study by LexisNexis, a provider of computer-assisted legal and business research as well as risk management services.

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How to Adopt the Enhanced Version of 3-D Secure for Improved User Experience

Changing customer expectations, the ubiquity of mobile phones and an evolving regulatory landscape are rapidly making the 3D Secure (3DS) standard obsolete. To address customers’ demand for a frictionless e-commerce experience, market participants must adopt 3DS 2.0, experts say. What

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