With the dramatic rise of criminals using generative AI to defraud companies, it’s not just banks and financial services organizations who are at risk. Companies in the travel and hospitality industry — and their customers — are increasingly suffering from fraud attacks. Meanwhile, 75% of travelers say they’d rather use biometrics in place of passports…
As the payments industry grapples with increasingly sophisticated fraud technologies such as deepfakes and generative AI, the importance of collaboration across sectors is gaining recognition. Financial institutions, ecommerce sites, government agencies and others are realizing that cooperation and sharing of fraud data can drastically reduce crime and financial losses. Let’s take a closer look at…
Now in its third year, the annual Jumio Online Identity Study explores consumer awareness and sentiment around issues involving online identity, fraud risks, and current methods used to protect consumer identity data. This year’s results highlight significant concerns among consumers about the risks associated with generative AI and deepfakes, including the potential for increased cybercrime…
In the ever-evolving landscape of finance, regional banks are vital players in providing banking services to their communities. However, they face a significant challenge in combating fraud, which threatens the security of their customers’ financial assets and erodes trust in their institutions. Check fraud is especially problematic and is growing at an alarming rate. Regional…
Know Your Customer (KYC) procedures are critical processes for financial institutions and other high-fraud-risk organizations onboarding new customers. But as customers’ preferences for digital onboarding emerge, traditional KYC identity verification processes aren’t enough to ensure safety and security for customers or the organization. KYC procedures are advancing and evolving, helping organizations improve efficiency and increase…
In the age of digital transactions and online commerce, payment technologies have become an integral part of our daily lives. However, with the convenience of electronic payments comes the risk of identity fraud. As cybercriminals become more sophisticated, businesses must prioritize robust identity verification solutions to protect themselves and their customers. In this article, we’ll…
Know Your Customer (KYC) processes are put in place to protect against fraud, identity theft and red-flag transactions. And while they’re crucial for creating a safe and secure banking environment, they can often be time-consuming and resource-intensive to complete. Thanks to new technologies, KYC processes are becoming easier to manage. KYC APIs are creating new…
DolarApp aims to make finances borderless by providing digital dollar accounts for Latin Americans. DolarApp makes it possible for customers in the LATAM region to send and receive transfers locally and in the U.S., dollarize their savings in a legal way and pay with an international Mastercard in any currency at the best rates –…
In today’s digital-first world, our most vital information exists online and in the cloud — making it more difficult than ever to keep it protected. Companies holding that sensitive information have a responsibility to keep it secure and ensure only authorized users are able to access accounts and databases. In the past, companies have relied on…
In 2023, 48% of consumers said their primary method of accessing their bank account was through their mobile phone and online platforms. The preference for digital banking channels is especially strong among younger generations, with 74% of millennials reporting that they choose to bank digitally. The growing popularity of digital banking platforms provides fraudsters and…