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Online Fraud: EMEA Organizations See it as the Biggest Treat

Account takeover and application fraud experienced the most activity in the past 12 months • ID theft expected to grow and become significant concern for nearly half of credit providers in EMEA Experian recommends the following actions: Attain multiple and new sources of data Achieve a holistic view of customers Provide real-time, consistent and pre-qualified decisions Use multi-channel automation across ... Read More »

New UK Fraud Industry Body Will Highlight the Cost of Fraud

PKF Littlejohn and Experian to revive the government’s fraud cost estimate.  UK’s only indicator on the total cost of fraud to be launched this year.  A new industry body has been set up to highlight the cost of fraud to UK businesses, charities and the public. The UK Fraud Cost Measurement Committee will seek to revive and enhance the government’s previous Annual ... Read More »

FICO: Why Analytic Innovation Matters

Scott Zoldi, Vice President of Analytic Science at FICO recently returned from Payments 2015 where he was invited to speak on advances in behavior analytics—specifically fraud analytics that differentiate unusual customer behavior from fraud, including collaborative profiling that anticipates new previously unseen behavior. Here are his observations and recommendations: This analytic innovation is just one of 92 patent applications pending in ... Read More »

Experian Introduces Enterprise Fraud and ID Business in North America

Dedicated unit launches Big Data fraud service for breach and identity compromise detection At the start of the Vision 2015 Conference, Experian® announced a new dedicated enterprise Fraud and ID business in North America. This newly established business unit allows Experian to more aggressively address the growing variety of fraud risk and identity management challenges businesses, financial institutions and government agencies ... Read More »

Cyber Security: Experian Poll Suggests that Spain’s Businesses are Not Adequately Protected Against CyberFraud.

An Experian poll of senior managers in leading Spanish businesses reveals that 60 per cent of large Spanish organizations are not adequately prepared to deal with evolving cyberfrauds. The poll, which was conducted among 150 senior managers, revealed that a strategy resilient enough to proactively manage fraud and protect those organizations against hackers, fraudsters and identity thieves, was yet to ... Read More »

Meet our Member Thomson Reuter

BIIA Welcomes Thomson Reuters Financial Crime and Reputational Risk Unit as a Member Thomson Reuters has a wide range of products & services supporting corporate governance, addressing risks, and ensuring compliance for organizations. For further details go to:  Thomson Reuters Read More »

The Customer Impact of Fraud: Make or Break for Banks

With all the news about credit card breaches at major US retailers, one might assume that a huge percentage of the population is dealing with fraud on their credit and debit cards. Interestingly, FICO recently did a consumer research study and we found that only 15% of those surveyed had experienced any sort of fraud (credit, debit, checking) in the past 12 ... Read More »

Equifax Personal Solutions Partners with H&R Block to Address Growing Threat of Tax Identity Theft

Assists Tax Services Industry Leader in Launching New Product, Tax Identity Shield, During Tax Identity Theft Awareness Week In 2013, 1.63 million taxpayers were victims of tax identity theft according to a report from the Treasury Inspector General for Tax Administration. In response to this increasing problem, Equifax Personal Solutions, a leading provider of credit monitoring and identity protection solutions ... Read More »

Ex-bankers Suspected of Business Intelligence Hack on Wall Street

A new approach to profiting from cyber-crime has seen confidential company information being syphoned from corporate communications then used to ‘game’ the US stock market, possibly by former traders.   The cyber-espionage ring – dubbed FIN4 – has been targeting individuals who have access to insider company data including executives, consultants, legal counsel and analysts for the past year, in a ... Read More »

Experian: Sixty Percent of Marketers are Unsure of the Cost of Fraud to their Organization 

41st Parameter®, a part of Experian, surveyed 250 marketers to understand the relationship between omnichannel retailing, fraud prevention and the holiday shopping season.  The findings show that few marketers understand the full benefit of fraud-prevention systems on their activities as 60 percent of marketers were unsure of the cost of fraud to their organization. The survey also indicated that 40 ... Read More »

Network Protection / Fraud Detection: FICO Awarded Four New Patents

Network Protection, Fraud Detection, Personalized Marketing and Real-Time Analytic Discovery FICO (NYSE: FICO) has been awarded four new patents related to fraud detection and advanced analytics. FICO now holds 170 US and foreign patents, and has 93 pending patent applications. Members of FICO’s fraud analytics team patented a network assurance analytic system that monitors telecommunications networks with real-time, streaming, self-calibrating analytic ... Read More »

Corporate Fraud in India will Rise, due to Failures to Update

The rate of corporate fraud in India is at an all-time high and will continue to grow over the next two years – outpacing official efforts to mitigate it – because mechanisms that are supposed to manage fraud risk are outdated or inadequate, a report finds. Fraudulent areas set to rise include bribery and corruption, the diversion or theft of ... Read More »

FICO Acquires TONBELLER

FICO has acquired TONBELLER, an innovative provider of financial crime and compliance solutions based in Bensheim, Germany.  The transaction has closed.  Although terms have not been disclosed, the transaction is not expected to have a material impact on FICO’s 2015 financial results.  With this acquisition, FICO has moved firmly into the rapidly growing market for financial crime and compliance (FCC) ... Read More »

LifeLock Ranked 65th Fastest Growing Company in North America

LifeLock Ranked 65th Fastest Growing Company in North America on Deloitte’s 2014 Technology Fast 500™ in the Internet Category.  Company Attributes 181 Percent Growth to Product Portfolio Expansion and Superior Functionality. LifeLock, Inc. has been ranked number 416 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North ... Read More »