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Tag Archives: Fraud prevention

Fraud Prevention:  How People Fall Prey to “Friendly Fraud”

How many criminals do you know personally?  Most of us would answer “none” – but there is a worrying trend for fraudulent activity to be performed either by the “first” or “second” party rather than some remote, unknown third party. First-party fraud is essentially where the consumer uses either their own or a completely synthetic (fabricated) identity and sets out with ... Read More »

FICO Launches Powerful Identity Resolution Engine That Helps Thwart Fraud Rings

50+ algorithms scour multiple data sources to help defeat criminal rings that perpetrate money laundering, insider fraud and other crimes FICO (NYSE:FICO) announced the general availability of FICO® Identity Resolution Engine 3.6, a powerful software solution that improves personal identification to detect criminal fraud rings and other forms of crime. The new version combines entity resolution with social network analytics ... Read More »

Callcredit and iovation Partner to Optimise Fraud Protection

Callcredit Information Group has announced a strategic partnership with iovation, an online and mobile device reputation technology company. The partnership will combine complementary data and technology to deliver fraud prevention and identity solutions to the market.  Building upon the strategic relationship established in 2011, the two firms say they will bring about a new era of combined device and bureau-based ... Read More »

ID Analytics and IdentityMind Partner to Reduce Online Fraud

ID Analytics, a leader in consumer risk management, and IdentityMind, an on-demand anti-fraud and risk management platform, announced a partnership to provide eCommerce retailers, acquirers and payment service providers (PSPs) with an integrated solution designed to minimize merchant account risk with improved fraud detection. The solution enables merchants, acquirers and PSPs to leverage the power of ID Analytics’ eCommerce suite through ... Read More »

FICO Q2 Fiscal 2013 Revenues up 12% Buoyed by Acquisitions

FICO reported revenues of $179.3 million for the quarter as compared to $159.5 million reported in the prior year period, an increase of 12%.  Revenues for the second quarter fiscal 2013 across each of the company’s three operating segments were as follows: Applications revenues, which include the company’s preconfigured Decision Management applications and associated professional services, were $117.2 million in ... Read More »

Commercial Fraud: Low Appetite for Whistleblowing

According to the latest staff fraud report from the UK’s Fraud Prevention Service, and specifically the Credit Industry Fraud Avoidance System (CIFAS), only 3% of insider or staff fraud attacks were uncovered in 2012 using the formal “whistle blowing” process, where a colleague reports what they see or suspect. People appear to have a low appetite to “inform” on the suspected or ... Read More »

South Carolina Department of Revenue Reports Cyber Attack Leaving Millions Vulnerable

The South Carolina Department of Revenue today announced that approximately 3.6 million Social Security numbers and 387,000 credit and debit card numbers have been exposed in a cyber attack.  Of the credit cards, the vast majority are protected by strong encryption deemed sufficient under the demanding credit card industry standards to protect the data and cardholders. Approximately 16,000 are unencrypted. ... Read More »

FICO Champions New Approach to Enterprise Fraud Management at Asia Pacific Fraud Forum

Top concerns among fraud executives include minimizing overall customer impact and operational risk, as well as reducing fast-growing threat of application fraud FICO (NYSE:FICO) urged Asian banks to adopt a new approach for protecting customers and managing risk across all product lines, channels, and lifecycle stages. This recommendation was the theme of the FICO Asia Pacific Head of Fraud conference, ... Read More »