Are you a crime fighter? Most financial institutions hope so – and they are actively trying to hone your skills and habits. These days, there are few instances when logging on to a financial or medical account (or any account that contains sensitive information) when you are not asked to take extra steps to verify your identity or displayed a warning message about fraud – and how to avoid it. These companies and institutions are investing in these educational initiatives for the welfare of their customers – and for themselves. This is because to successfully mitigate against increasingly sophi ..read more

Cybercrime has been on the rise for a while, and we like to think we’re wise to the fraudsters’ tactics, right?  But as technology advances, so too does the potential for fraud. The rise of AI-powered criminals has significant implications for cybersecurity. While AI can strengthen our defenses, it also gives cybercriminals more to play with.  Take deepfake technology, designed to blur the boundaries between the truth and fiction. The World Economic Forum has ranked disinformation as one of the most significant risks in 2024, and deepfake fraud, a form of disinformation, is spre ..read more

The first quarter has concluded! Now, it’s time for our quarterly investment update. Delve into the latest funding rounds and acquisitions in the realm of fraud and risk mitigation! Funding Napier Napier AI, a UK-based RegTech company specializing in AI-driven financial crime and regulation technology compliance solutions, has secured a £45 million investment from Crestline Investors, a US-based firm. Established in 2015 and headquartered in London, Napier AI offers advanced AML screening services tailored for the banking, payments, and wealth & asset management sectors. Its technology as ..read more

The rise of dangerous and high-risk domains has been significantly altering our online world. To the tune of 100,000 or so per day. And when most of these domains are seen for but a few weeks before vanishing into the ether, timing is of the essence. Disposable email addresses, hide-my-email, email aliases, or whatever you choose to call them – designed for temporary or anonymous use – are quickly becoming a double-edged sword. While they offer a great benefit in privacy and spam reduction for legitimate users, they also provide an easy and scalable disguise for fraudsters. But why should busi ..read more

We spent the last year looking at hundreds of discussions about AI crime in all its forms, including hacker forums on the dark web, to try to figure out which crimes are real and which are fantasy, and which could possibly be in the future versus those that are here now. And while some of the claims about AI cybercrime range from premature and speculative to outright fantasy, AI-assisted scams are still very real and we’re already seeing real victims of crimes accelerated or assisted by AI. 1.  MAKING THE TREASURE TROVE OF STOLEN DATA USABLE The criminal world is drowning in stolen data ..read more

Chargebacks are one of the most persistent challenges for merchants, especially those in e-commerce. Mishandled, they can become a significant source of frustration and financial loss. With this in mind, many companies look to external vendors for solutions to their chargeback problems. However, not all providers are created equal, making the choice of partner a pivotal decision for long-term success. What to Look for in a Chargeback Solution Amidst a myriad of vendors offering a variety of services and solutions, it’s important to consider how each aligns with your organization’s unique needs ..read more

Successful fraud prevention programs look different at every company. But there are certain markers of efficacy and maturity you can measure as you move up the ROI curve. Most companies see fraud prevention as an operational expense, which makes proving ROI at every stage of your fraud program’s growth essential. I’ll break down each phase of the fraud prevention journey and the wins you experience along the way. Walk: Get to know the business and create a fraud prevention plan At this stage, it’s all about research, planning, and visibility. Focus on explaining what your team does, why they d ..read more

Chargebacks can be a harsh reality for merchants, whether they stem from fraud, merchant error, or, in many cases, false claims. While the former two may serve as valuable learning experiences, false claims challenge the very fabric of the chargeback process. In these instances, merchants have the potential for recovery, provided they can present a compelling rebuttal supported by evidence. Today, we’ll discuss the strategies and processes of chargeback recovery, exploring how merchants can safeguard their revenue and discourage the misuse of chargebacks, particularly by those engaging in “fri ..read more

In the dynamic realm of B2B (Business-to-Business) interactions, phishing attacks are a serious and constant threat. They’re becoming more sophisticated and frequent and affect not only businesses but also individuals (clients). According to recent statistics, cybercriminals send around 3.4 billion phishing emails every day. Additionally, 83% of all companies across the globe fall victim to a phishing attack each year. That’s pretty much every four out of five businesses facing the heat. The best way to combat these attacks is to understand the tactics and techniques cybercriminals employ to c ..read more

Q4 is a wrap! It’s time for our quarterly investment update. Dive in to discover the latest funding and acquisitions in the fraud/risk space! Funding Biocatch BioCatch, a leader in software development for bank fraud and money laundering prevention, achieved unicorn status amidst the Hamas-Israel conflict with a new secondary deal. The company secured $70 million from Sapphire Ventures at a valuation exceeding $1 billion, marking its second significant secondary transaction in 2023. Prove Prove Identity, formerly Payfone, the smartphone-based identity verification startup, has raised $40 mill ..read more