Welcome to our report summarizing the 2023 Faces of Fraud survey.
We are most grateful to our 150+ industry contributors who answered our
questions frankly to enable us to provide a snapshot of the frauds causing
most concern for financial services in 2023.
The data shared in this report, as well as expert...
Established provider LexisNexis Risk Solutions remains atop Forrester's digital fraud management rankings, while upstart Sift broke into the leaders category for the first time. Many providers in the space have expanded from payment transactions to account takeover fraud as well as handling scams.
With only 90 early adopters, Federal Reserve's FedNow program faces the challenge of persuading U.S. banks to sign on to the real-time payments initiative launched in July. Experts say the Fed could learn some lessons from successful efforts in Brazil and India.
Synthetic ID fraud is nothing new, but it is expanding beyond fraudulent bank accounts to identity scams for auto loans. Many organizations fail to understand the link between data breaches and fraudulent IDs, said Jason Lord, vice president of product marketing at TransUnion.
Welcome to the report summarizing the survey conducted in spring/summer 2023. It attracted 214
responses from senior cybersecurity professionals in the NA,
APAC, UKI and EU regions.
The goals for this study were to identify:
The top organizational challenges in securing non-SSO
The lack of an understanding of what constitutes first-party lending fraud is causing massive losses at banks. Anna Bleazard, head of Singapore and South East Asia in financial crime compliance at FTI Consulting, recommends that banks intervene as early as possible.
Welcome to the webinar summarizing the survey: Critical Gaps in
Securing Identities. This survey was conducted in Q1 and 2 of 2023, and attracted more than 200
responses from senior cybersecurity professionals.
More than just survey results, this OnDemand webinar offers:
The top organizational challenges in...
Join Richard Cassidy, Rubrik’s EMEA Field CISO, for exclusive insights into the Digital Operational Resilience Act (DORA). This new regulatory framework, designed to strengthen the EU's financial sector against operational disruptions and cyber-attacks, will come into effect soon!
Get a comprehensive and actionable...
In this episode of CyberEd.io's podcast series "Cybersecurity Insights," Alisdair Faulkner of security and fraud prevention startup Darwinium discussed how the FedNow Service will add a layer of complexity to defending against real-time financial fraud scams used in faster payments transactions.
Collaborative AI - the process of one AI model learning from another - is one of the most effective ways for financial institutions to fight the sophisticated techniques fraudsters use for scams, said Johan Gerber, executive vice president of security and cyber innovation at Mastercard.
In the latest weekly update, Troy Leach, chief strategy officer at Cloud Security Alliance, joins ISMG editors to discuss preparing for new regulations, new requirements for third-party cloud penetration testing, and the opportunities and risks of AI in the financial sector.
A finalist in RSA Conference's prestigious Innovation Sandbox contest completed its first major funding round to extend its capabilities from code security to pipeline security. Endor Labs got $70 million to move beyond protecting open-source software and get into locking down the CI/CD pipeline.
Synthetic ID fraud has moved beyond business-to-consumers to business-to-business fraud as more bad actors are opening fraudulent commercial accounts at financial institutions, said Dori Buckethal, vice president of risk and fraud solutions at Thomson Reuters.
The highly active, North Korea-linked Lazarus Group is targeting unpatched Microsoft Internet Information Services servers to escalate privileges and distribute malware. Researchers spotted the group using watering hole techniques to fool victims in South Korea.