Less Than 150 Days to Go: How to Prepare for Failure to Prevent Fraud
- 9 months 4 weeks ago
- Fraud Detection
A wave of payment regulations is set to reshape the financial landscape in 2025, but none will hit UK businesses as directly as the new corporate criminal offence: ‘Failure to Prevent Fraud’. Introduced under the Economic Crime and Corporate Transparency Act (ECCTA), this law takes effect on 1st September 2025, placing direct responsibility on businesses to prevent fraudulent activity within their organisations.
Ecommpay Urges Merchants to Adopt Modern Mindsets as Ticket Fraud Soars
- 9 months 4 weeks ago
- Fraud Detection
Following recent data from Action Fraud that reveals £9.7 million was lost to ticket fraud in 2024, Ecommpay, the inclusive global payments platform, is working closely with merchants to help them understand and tackle fraud to help protect customers.
Santander Quarterly Scamtracker Reveals Over £18 Million Stolen by Scammers
- 10 months 6 days ago
- Fraud Detection
Santander UK is today launching ‘The Santander Quarterly Scamtracker’, which shows that a total of £18,404,965 was stolen from customers in the first three months of 2025. While this marks a 13% decrease in the amount taken by scammers during the previous quarter (Q4 2024), the bank has highlighted a series of new worrying trends emerging.
Sun, Sea, and Scammers – How to Avoid the Rising Risk of Travel Fraud This Easter
- 10 months 1 week ago
- Fraud Detection
Three in five UK adults are planning an overseas holiday this year, so with millions of people across the UK planning on heading off on holiday this Easter and over the summer months, travellers offer an easy target for unscrupulous fraudsters. Holidaymakers lost over £11 million to holiday scams last year, according to research from Action Fraud. Over 6,000 reports of holiday fraud were made last year with an average loss of over £1,800 per... more
Sumsub Launches New Education Center to Empower Fraud and Compliance Professionals
- 10 months 1 week ago
- Fraud Detection
Sumsub, a global full-cycle verification platform, is launching Sumsub Academy, an educational initiative aimed at empowering compliance, risk, and fraud prevention professionals. As the first verification and anti-fraud company to offer educational courses with external market experts, the Academy is designed to provide real-world compliance strategies, practical knowledge, and career-boosting credentials through free, expert-led modules.
Datos Insights Spotlights Best-In-Class Data And Fraud Orchestration Capabilities Of The Provenir AI Decisioning Platform
- 10 months 2 weeks ago
- Fraud Detection
As fraudsters continue to exploit any weaknesses in financial services systems, financial institutions must stay ahead of fraud threats, necessitating an integrated approach to risk decisioning across both fraud prevention and credit risk use cases.
Visa Unveils Its Scam Disruption Practice, Helping Protect Consumers And The Financial Ecosystem Globally
- 10 months 3 weeks ago
- Fraud Detection
Visa, a global leader in payment technology, today unveiled its scam disruption practice focused on identifying and stopping complex scams as they emerge. The new department, which sits under Visa Payment Ecosystem Risk and Control (PERC), saved victims $350 million (€335 million) across dozens of scams last year. This is in addition to the $40 billion (€39 billion) PERC blocked in attempted fraud on the Visa network last year.
‘Synthetic Fraud’ Reaches Record Levels
- 10 months 3 weeks ago
- Fraud Detection
New insights from Experian today reveal the rise of ‘synthetic fraud’ in the UK. Analysis of confirmed fraudulent and potentially fraudulent credit applications shows that there was an increase of 60% in false identity cases in 2024 when compared to 2023, with the cases now making up nearly a third (29%) of all identity fraud cases.
Fime Supports Fight Against Identity Fraud With FIDO ID Verification Accreditations
- 11 months 2 days ago
- Fraud Detection
Fime has achieved full FIDO Alliance Identity Verification (IDV) Certification Program accreditation across multiple regions. Both the Fime EMEA and Fime Taiwan testing laboratories can now support identity verification vendors in certifying their Document Authenticity and Face Verification solutions, helping combat fraud while enhancing the user experience.
Sift Introduces Identity Trust XD: Fraud Decisioning With Cross-Dimensional Identity at Its Core
- 11 months 3 days ago
- Fraud Detection
Sift, the AI-powered fraud platform, announced the launch of Identity Trust XD, an innovation for fraud and risk teams that delivers unprecedented visibility into digital identity behavior across multiple dimensions. The new offering accelerates more confident and accurate decisions powered by Sift’s Global Data Network, which processes more than 1 trillion events annually. The announcement was made today at MRC Vegas 2025, the Merchant Risk... more
Savings Accounts See Huge Surge in Mule-Linked Activity
- 11 months 1 week ago
- Fraud Detection
Taken from the ‘State of Fraud 2025: Banks and Building Societies’ report, the statistics are based on analysis of National SIRA. Owned and operated by Synectics, National SIRA is the UK’s largest source of evolving risk intelligence. It’s a vast pool of collated risk and fraud intelligence, sourced from the UK’s largest membership of over 150 organisations including Tier 1, mid-size, and challenger banks, and leading building societies.
Papaya Global and Sumsub Partner to Provide Clients With AI-Powered Fraud Prevention and Customer Verification
- 11 months 1 week ago
- Fraud Detection
Papaya Global, the workforce payroll and payments platform, and Sumsub, a full-cycle verification and compliance solutions provider, today announce their new partnership. Sumsub will support Papaya Global with AI-powered automated solutions for secure verification and fraud prevention, while maintaining speed, accuracy, and regulatory compliance.
Anti-Money Laundering Pros Find Expanding Uses for AI, but Adoption Remains Slow
- 11 months 2 weeks ago
- Fraud Detection
Using AI technology in anti-money laundering (AML) processes has become critical for financial institutions as they work to comply with regulations and combat financial crime. Even so, a new AML technology study from data and AI leader SAS, featuring contributions from SAS Partner KPMG, finds that interest in AI continues to outpace its full implementation. Based on a global survey of 850 members of the Association of Certified Anti-Money... more
ID-Pal Joins The Payments Association to Lead the Fight Against AI Fraud in the Payments Industry
- 11 months 3 weeks ago
- Fraud Detection
ID-Pal, a leading provider of AI-powered identity verification solutions, today announced its membership with The Payments Association, an influential community of industry leaders and innovators committed to shaping the future of payments.
