Browsing: fraud

Key insight: Haiqu developed a new technique to encode high-dimensional data (over 500 features) onto just 128 qubits, overcoming a major data processing hurdle for classical…

The financial services industry is relying on outdated methods of detecting and fighting fraud. With the assistance of artificial intelligence, criminals are penetrating vulnerable systems. It’s…

Key insight: The lawsuit challenges BofA’s use of automated fraud filters and its decision not to issue EMV chip cards for the benefits, highlighting liability risks…

Sopa Images | Lightrocket | Getty ImagesWestern Alliance, one of the regional banks at the center of concerns over loans made to non-bank financial players, said…

What’s at stake: On average, U.S. businesses reported losing the equivalent of 9.8% of their revenue to fraud over the past year, a significant increase from…

Key insight: Identity theft victims who file extended fraud alerts often experience significant and persistent improvements in their credit profiles, becoming more creditworthy.What’s at stake: U.S.…

Key insight: Community banks may be able to benefit from the enormous buildup of AI capacity, as the cost of AI-based fraud detection falls.What’s at stake:…

In its Q3 Fraud Trends report, Equifax says mortgage fraud rates slipped about 10 basis points year over year to 0.19% of applications, reflecting a slowdown…

Key insight: The European Central Bank is building a centralized fraud detection system to support payment providers and secure every digital euro transaction.What’s at stake: Establishing…

Key insight: Criminals exploited the banking system’s “check float” period as a core part of the scheme.What’s at stake: The scheme compromised the personal and financial…