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Launching AI-driven Fraud Detection

Knowledge & Training

In the US alone, it is estimated that losses related to account takeover fraud (ATO) amounted to $11bn in 2021, representing a 90 percent increase from 2020.  In our 2023 global compliance survey, 39 percent of respondents said the type […]

According to the Organisation for Economic Co-operation and Development (OECD), money laundering through real estate is one of the oldest known ways to move and hide illicit funds. Often viewed as a popular means to “wash” funds because large amounts […]

Before entering into a relationship with a new customer, financial institutions must establish what level of due diligence to perform. This decision will be determined by a number of factors that, combined, provide a customer risk score, highlighting whether they […]

Chargeback fraud occurs when a customer submits a transaction dispute with their payment provider for illegitimate – even dishonest – reasons. The consequences of fraudulent chargebacks can include unnecessary costs to firms, as well as enabling certain forms of illicit […]

The Automated Clearing House (ACH) network is a way of transferring money from one bank account to another. Supporting both credit and debit transfers, payments and withdrawals are sent to the clearing house where they await authorization before arriving at […]

E-commerce has become indispensable to retail frameworks around the world, providing customers and businesses with a flexible shopping experience that can save both time and money. However, high return rates are becoming an increasing challenge, creating additional costs and complexities […]

The FraudClassifier Model is a collaborative system that accurately identifies fraud typologies. Its industry-validated process bases each classification on whether the payment initiator was authorized or unauthorized. From there, it guides participants through a streamlined pathway ending in a customized […]

The second Financial Action Task Force (FATF) plenary under the two-year Singapore Presidency of T. Raja Kumar took place at the FATF headquarters in Paris on February 22-24, 2023. In attendance were delegates from over 200 jurisdictions of the Global […]