Intuitively, I think most of us presume that fraud spikes if you’re in retail and dealing with e-commerce. Last year, online fraud attempts in the period from Thanksgiving Day to December 31 increased by 22 percent, while the number of overall transactions increased by 19 percent (Source: ACI Worldwide, January 2018). In fact, on peak…
In a 24/7/365 world of digital access to anything, any time, the on-demand experience is engrained in all aspects of modern life, whether at work or play. This need for excitement and instant gratification also applies the global online gaming and gambling market, which is rapidly growing and expected to generate revenues of more than…
Can you imagine going a day without going online? No email, no social media, no silly cat videos, no 24-hour news cycle…it seems almost impossible because we spend our lives connected to the internet. In fact, the average number of hours that users go online has reached a new high at 23.6 hours per week,…
The number of children betting regularly in the UK has quadrupled to 450,000, according to a new study out by the UK Gambling Commission. Alarmingly, the amount of children ages 11-16 with a gambling problem has now climbed to 55,000, according to the report. In fact, more children said they had placed a bet in…
There are a number of convincing arguments that I could make about why you should outsource your identity verification (sometimes referred to as eKYC services), including: Focusing on your core competency. Whether you’re a bank, a telco, a healthcare organization or a sharing economy company, reliable identity verification is usually not part of your core…
Deception shows its face in many forms within online gaming. Thanks to major data breaches and the rise of the dark web, personally identifiable information (PII) including names and email addresses is easy to acquire, which fraudsters can then leverage to trick gaming sites. According to the Q2 2018 ThreatMetrix Gaming and Gambling Cybercrime Report,…
Financial institutions are an obvious target for cybercrime. Unless they double down on strong internal security against a broad range of threat vectors, they will continue to be targeted and victimized by fraud rings and nation states. Unfortunately, their IT security is perceived to be deficient — especially within smaller banks and credit unions. Making…
This year’s Money20/20 USA featured representatives of 3,500 companies, from too-big-to-fail powerhouses like Wells Fargo to hundreds of startups. Featured speakers included Virgin founder Richard Branson and “Shark Tank” star Barbara Corcoran as well as executives from Google, Amazon Pay, Morgan Stanley, Quicken Loans and Mastercard. The surge in show attendance underscores the massive growth…
Aside from the obvious one (Las Vegas), there are so many reasons to get excited about Money20/20 USA. It’s a great opportunity to learn about innovative new financial products and services, connect with our customers (and meet some new ones!), rub elbows with industry leaders and hear some of fintech’s finest speak on everything from…
Thanks to a steady stream of data breaches, the number of data privacy and data protection regulations is growing and becoming more stringent. Historically, the EU has taken the lead with regulations, as is evident by AML, KYC and GDPR, but the U.S. is starting to take notice—the California Consumer Privacy Act, when it goes…