Fraud Prevention

PSD2 and You: Why Banks Are Turning to Artificial Intelligence

by Richard Harris, Head of International Operations You know how the Chinese word for “crisis” is the same for “opportunity?” The bad news is that’s actually a myth. The good news is the metaphor still applies to PSD2. Whether banks like it or not, the

Read more...

New Ebook: How to Choose a Machine Learning Platform for Risk

If you’re a merchant, an acquirer, or a payment service provider, you might be searching for a unified strategy that can manage risk without creating customer friction. We can help you procure the right solution. The Feedzai platform powers 1 in 5 of the world’s top 25 banks,

Read more...

Going Vintage at MRC 2017

In a future-focused industry where features and concerns seem to appear from somewhere beyond the horizon of the present moment, it was a surprise that the Merchant Risk Council main event this year focused on the past. Paper shredders, anyone? Check fraud? Copy machines? Maybe

Read more...

Using Machine Learning to Optimize Chargeback Re-presentments

Every year, enterprises lose billions of dollars to ecommerce chargeback costs. New fraud techniques based on “social engineering” are contributing to the problem. Dr. Selena Zhong, Senior Data Scientist Lead at Microsoft, recently spoke on these issues at the Real Machine Summit, hosted by Feedzai

Read more...

The Antidote to Financial Data Breaches

In February 2016, Wendy’s reported a potentially massive data breach across hundreds of restaurants in its network of 6,500 locations. It turned out that the point-of-sale systems for over 1,000 franchisee locations in its network were infected by a malware since the fall of 2015, the extent of

Read more...

5 Ways For Financial Institutions To Stop Account Takeover Fraud

Account takeovers are a constant danger that carry serious consequences for financial institutions. As a Javelin study noted, identity fraud resulted in $112 billion in losses for consumers between 2009 and 2015. A large volume of compromised accounts can mean substantial rewards for criminals. Consequently,

Read more...

When It Comes to Fraud, Where Is the Weakest Link?

Much like a chain-link fence is a deterrent that holds back burglars from accessing private property, a company’s digital security keeps cyber criminals from gaining access to confidential business information. It ensures that hackers don’t breach internal IT infrastructure that might protect sensitive data. However, much like a chain-link fence, cyber security

Read more...

Why Marketplaces Should Think Twice Before Hiring A Machine Learning Team

Users of marketplace platforms such as Uber, Kickstarter and Airbnb stay on the platform because they trust the platform. These marketplaces are also targets for fraudsters whose actions erode trust and cause user attrition that is difficult to reverse. To maintain the user base, marketplaces

Read more...

The Cost of Convenience: Why Merchants Bear the Brunt of Loss in Newer Retail Delivery Models

Convenience is the name of the game in the modern world, and no one knows this better than peer-to-peer delivery companies. These organizations rely on contracted couriers to transport goods from brick-and-mortar stores to the customers who ordered them online. Postmates, one of the most

Read more...

The End of Massive Fraud Attacks

  In little more than two hours on the morning of May 15, 2016, criminals in Japan stole 1.4 Billion yen ($13 million in U.S. dollars). They accomplished this feat by targeting ATMs in 7-Eleven convenience stores and making an estimated 14,000 withdrawals. The fraudsters

Read more...