How to Use Machine Learning in Financial Fraud Detection?

Financial fraud is a pervasive challenge in today’s interconnected and digital world. As technology advances, so do the techniques employed by fraudsters. Traditional methods of fraud detection are often insufficient to keep up with the evolving tactics of malicious actors. This is where machine learning (ML) plays a crucial role, offering a proactive and adaptive […]

machine learning for financial fraud detection

Understanding Digital Wallet Fraud

In an era dominated by technology, digital wallets have emerged as a convenient and efficient means of managing finances. With the ability to make seamless transactions, pay bills, and even store identification documents, digital wallets have become an integral part of our daily lives. However, with great convenience comes great responsibility, as the rise of […]

Contactless Payment Scams

Contactless payments through cards are hugely popular within the UK – in fact, they’ve now overtaken chip and pin payments. Contactless payments increased by 30% between June 2017 and June 2018 – and 52% of all shop payments were contactless in July 2018. Overall, there were 7.4bn contactless payments in 2018. Around 7 in 10 […]

Data Validation for Retailers

In the fast-paced world of retail, accurate and reliable data is the cornerstone of success. Retailers deal with vast amounts of information, from inventory management to customer details and marketing analytics. Ensuring the integrity of this data is critical for making informed decisions and providing a seamless customer experience. This is where data validation comes […]

What is Third Party Risk Management?

Third-party risk management (TPRM) is a type of risk management program that focuses on identifying and reducing risks that come with the use of third parties. Third parties that open businesses to risk are vendors, suppliers, partners, contractors, or service providers. The risk management program aims to give organizations an understanding of the third parties […]

third-party risk management best practices

Hyper-Personalization for Fraud Prevention

Hyper personalization is a game changer for businesses looking to improve customer lifecycle and fraud management. 7 out of 10 consumers expect a personalized experience from businesses. But, the current personalization methods are full of gaps. Businesses that use digital marketing to acquire and serve customers are the ones moving towards hyper-personalization. Hyper-personalization is a […]

Hyper-Personalization in Fraud Management

5 Types of Subscription Fraud

Subscription fraud is one of the least common types of fraud faced by communications service providers. Even if the problem is small, it has a huge impact. The problem has grown by nearly 6% from $1.92B to $2.03 billion. In this guide, we’ll outline the 5 most common types of subscription fraud that communications businesses […]

Common Bank Account Data Errors and Solution

Bank account errors can be costly for both the institute and the customers. Financial institutions, banks, and other businesses must ensure that all accounts and reference numbers are formatted correctly before any payments happen. Bank account errors happen when there are any issues with this information. Sometimes they happen because financial institutes and banks fail […]

Phishing Email Attacks – Common Techniques and Prevention Methods

Phishing scams are becoming more and more common. Every day hundreds of people around the globe face many problems with phishing emails. Understanding how phishing emails work can go a long way in helping you prevent phishing attacks. In 2014, Sony Picture Entertainment became the victim of a major phishing attack. During that time, hackers […]

Trade-Based Money Laundering

The AML landscape is evolving continuously, so fraudsters come up with new ways to launder money. One of these new and unique ways to exploit the financial systems and launder money is cross-border trade. Trade-based money laundering is becoming an issue. To prevent trade-based money laundering, new steps are being taken. In this guide, we’ll […]

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