From the COVID-19 pandemic to economic instability, 2020 tried to give financial crime prevention a run for its money. But Feedzai was there every step of the way helping financial institutions thwart fraudsters wherever they appeared.  Here are our most popular blog posts from 2020.

1. Coronavirus Fraud Scam Predictions & How to Combat Them

Understand why fraud scams increased during the pandemic, learn the five scams we predicted to see over the year, and what banks, merchants, and payment processors can do to prevent fraud and financial crime.   

2. How to Stop Fraudsters From Exploiting Coronavirus

There are two main avenues for fraudsters to exploit the coronavirus crisis: capitalizing on increased digital transactions and taking advantage of consumers’ fears through phishing schemes. Learn how banks can fight back against both of these fronts.

3. Demystifying Machine Learning for Banks: the Fields of Artificial Intelligence

Machine learning is a key artificial intelligence (AI) technology to address many contemporary business problems that relate to insights from large-scale data. Learn the five key fields of AI. 

4. Digital Wallets: How to Offer Convenience Without Raising Risk

Digital wallets are the fastest accelerating digital payment vehicle today. In this post, we discuss what’s driving their popularity, the fraud and AML risks involved, and what banks can do to protect themselves and their customers.

5. How PSPs Can Get Ahead of Fraud in the Post-COVID-19 World

Fraudsters are in attack mode. They’re preparing to commit an onslaught of fraud once consumer spending picks up, indicating that we’ve moved past crisis mode and into recovery mode. Learn how payment service providers (PSPs) can utilize techniques well suited to the current environment to uncover fraud behavior patterns and prevent financial crime.

6. How to Become a 100% Remote Company in Less than 24 Hours

With twenty-four hours’ notice, Feedzai transitioned into a 100% remote company. This post focuses on how we did it, the lessons we learned, and our tips for making remote work successful.

7. Anti-Money Laundering 101

We cover everything you need to know about the history of anti-money laundering, governmental acts with the highest impact, and financial crime compliance in this post. This is a must-read for AML professionals.

8. Can AI Models Handle Changes Caused by Coronavirus?

Are machine learning models cracking under the sudden behavioral changes caused by the coronavirus pandemic? It’s a question posed by a recent MIT Technology Review article, among other publications. We use a credit card use case to break down what the issues are and explain why robust machine learning models aren’t experiencing any problems.  

9. 7 Types of Instant Transfer Fraud You Should Worry About

Instant transfers allow customers, as the name suggests, to move money in seconds instead of days. While this capability opens new avenues for consumers, it also comes with a very real, very risky side effect: the threat of instant fraud losses. Learn the seven types of instant transfer fraud and what banks, merchants, and payment processors can do about it.

10. FinCEN Files: What the Leak Really Tells Us

The “‘FinCEN Files”’ set the financial crime-fighting world into a frenzy this year. A leak of 17 years worth of suspicious activity reports (SARs) submitted to the Financial Crimes Enforcement Network (FinCEN) led investigative journalists on a multi-year probe of tainted money flowing through the world’s financial systems. Read the post to understand the long-term implications of the FinCEN files. 

Looking for greater insights for financial crime findings from 2020? Watch our webinar on-demand Financial Crime Q4 2020: How Covid Impacted Consumers & Fraud.