Brits’ ‘Fear of Fraud’ Cost UK SMEs £6.15bn in the Last Financial Year
- 5 months 1 week ago
- Fraud Detection
UK SMEs relying on outdated manual bank transfers as a primary method of payment lost out on an estimated £6.15 billion in sales last year.
UK Second to Canada in Adyen’s Annual Fraud Index: With Victims of Payment Fraud Losing an Average £757.64 in 2025
- 5 months 1 week ago
- Fraud Detection
Adyen, the global financial technology platform of choice for leading businesses, has launched new research uncovering the extent to which payments fraud is increasing globally, with UK shoppers affected by fraud losing an average of £757.64 over the past 12 months.
Alloy for Embedded Finance Wins Datos Insights 2025 Fraud & AML Impact Award
- 5 months 1 week ago
- Fraud Detection
Alloy, a leading identity and fraud prevention platform provider, announced today that its solution for Sponsor Banks, Alloy for Embedded Finance, was named Best Know Your Customer/Business (KYC/KYB) innovation by Datos Insights as part of its 2025 Fraud & AML Impact Awards.
WEX® Partners with Trulioo to Drive Trusted Digital Onboarding and Prevent Fraud for European Customers
- 5 months 2 weeks ago
- Fraud Detection
Trulioo, an industry-leading identity platform with proven global coverage for person and business verification, today announced its partnership with WEX, a global payment processing and fleet management company. WEX has selected Trulioo Document Verification and Biometrics to accelerate and secure their KYC process for its European fuel card customers, replacing current manual procedures.
Oasis and Taylor Swift Fans Lose Out to Scammers, TSB Data Reveals
- 5 months 2 weeks ago
- Fraud Detection
TSB warns music fans to stay vigilant to ticket fraud, as the bank's customer data shows how fans desperate to see Taylor Swift and Oasis fell victim to scams. TSB compared the 15 Taylor Swift UK shows in 2024, with 15 UK Oasis concerts this summer to uncover which led to the most losses for its customers.
MoneyMe Selects SEON to Strengthen Fraud Prevention and Credit Decisioning
- 5 months 2 weeks ago
- Fraud Detection
SEON, the command center for fraud prevention and AML compliance, today announced that MoneyMe, one of Australia's leading digital lenders, has selected SEON’s unified platform to bolster fraud detection as it
Fraud to Cost Financial Institutions $58.3 Billion by 2030 Globally, as Synthetic Identities Threaten Fraud Tidal Wave
- 5 months 3 weeks ago
- Fraud Detection
A new study by Juniper Research, the foremost experts in fintech and payment markets, forecasts a 153% surge in fraud by 2030; rising from $23 billion in 2025 to $58.3 billion in 2030.
Nium and iPiD Deepen Strategic Collaboration to Advance VoP Compliance and Global Fraud Prevention
- 5 months 4 weeks ago
- Fraud Detection
Nium, the leading global infrastructure for real-time cross-border payments, today announced the expansion of Verify, its account validation service, in Europe, through a strengthened strategic partnership with iPiD, the provider of the Know Your Payee (KYP) solution, iPiD Node. As part of this deepening collaboration, iPiD is also leveraging Nium's Verify technology to enhance its own validation capabilities, marking a mutual partnership... more
GPT 5.0 Launch Sparks Fresh Concern for Finance Teams Battling AI-Driven Expense Fraud
- 6 months 3 days ago
- Fraud Detection
As the world reacts to the launch of GPT-5.0, a new survey from spend management leader, Medius, reveals a mounting crisis for finance professionals already struggling to detect AI-generated expense fraud. With nearly a third (32%) of respondents admitting they wouldn’t recognize a fake expense report if it came across their desk, the arrival of a more powerful generative AI model threatens to only widen an already dangerous gap in business... more
FCA Secures Convictions Against Individual for £1.3M Ponzi Scheme
- 6 months 3 days ago
- Fraud Detection
Daniel Pugh has been found guilty of fraud, following a prosecution by the FCA. Mr Pugh, aged 35 and of Devon, set up a Ponzi scheme that netted over £1m. Through his fraudulent Imperial Investment Fund (IIF), Mr Pugh took money from 238 investors he targeted largely through Facebook adverts. They were offered impossibly high returns of 1.4% a day, 7% a week or 350% a year.
Fraud Grows More Complex And Widespread As Chargebacks And AI Threats Loom Large
- 6 months 3 weeks ago
- Fraud Detection
While online fraud for companies has long been synonymous with payment fraud and account takeovers, a new wave of threats is gaining ground led by first-party chargeback fraud, refund abuse, and, increasingly, AI-powered attacks. Nearly half of merchants (47%) now report a rise in fraud perpetrated by known customers.
Unit21 Elevates Fraud Prevention For Fintechs With Fingerprint’s Device Intelligence
- 6 months 3 weeks ago
- Fraud Detection
Unit21, a global risk and compliance technology leader that proactively mitigates risks tied to fraud, money laundering, and other financial crimes, has announced its new
FICO European Fraud Map: UK Leads In “Card Not Present” Fraud And Total Losses
- 6 months 3 weeks ago
- Fraud Detection
The FICO European Fraud Map 2024 has revealed a worrying trend of rising card fraud levels and losses across the continent. The data from Euromonitor International on 18 countries shows that Card Not Present (CNP) fraud dominates card fraud losses and has increased across most countries.
Mastercard Steps Up Fraud Prevention Efforts With Launch Of Account Intelligence Reissuance Service In EEMEA
- 7 months 1 week ago
- Fraud Detection
Mastercard has introduced Account Intelligence Reissuance, an advanced fraud prevention service to efficiently manage the card reissuance process, in the Eastern Europe, Middle East and Africa (EEMEA) region. The product leverages Mastercard’s proprietary Artificial Intelligence (AI) technology and network purview to assess the level of risk associated with a card and provide AI-driven actionable recommendations about which cards need to be... more
Spanish Banks Reduce Fraud Attempts By 23% Thanks To Behavioral Defenses
- 7 months 1 week ago
- Fraud Detection
Spanish banks working with BioCatch, which prevents financial crime by recognizing patterns in human behavior, reported a 23% decline in overall fraud attempts in the first quarter of 2025 from the same period a year ago.
