Fraud detection is a critical concern for many industries, from financial institutions to gaming operators, as the threat of identity theft and fraudulent activities become more common. And unfortunately, some older or traditional detection systems are becoming ineffective against fraud and cybercriminals. However, artificial intelligence (AI) and machine learning (ML) models are able to put…
Address verification is one of the easiest and most effective ways to bolster your company’s security. This process involves gathering address information, verifying correct addresses and flagging accounts that are not using valid addresses. Thanks to modern technology, you can efficiently verify addresses in the background while performing other identity checks. Address verification is important…
Financial crime risk management is the proactive identification and management of risks associated with financial crimes. It is a critical component of any financial organization’s operations and is essential for reducing an organization’s vulnerabilities, as well as managing its overall risk appetite. Financial crime risk management should be a regular practice for financial services organizations…
Bots are autonomous programs on the internet. In the hands of fraudsters, they have become a serious menace, as they are capable of creating fake accounts, signing into existing accounts using stolen credentials, leaving comments on social media posing as an actual human, and much more — all at frightening speed and scale. Businesses use…
With deepfakes on the rise, establishing trust online has never been more important. But sacrificing user experience — and losing customers as a result — is not an acceptable trade-off. Successful businesses use advanced identity verification solutions that can detect deepfakes and stop fraudsters while providing a streamlined onboarding experience for legitimate customers. In fact,…
As financial institutions have become an essential part of the global economy, it’s increasingly important to ensure their safety and security. Implementing a Know Your Customer (KYC) process is critical to understanding their customers and identifying potential risks or threats. Customer due diligence is a key component of the KYC process. By conducting customer due…
Risk signals are various types of checks that help verify that a person is who they say they are and that they’re suitable to do business with. For example, when a new user is creating an account online, you can check the reputation of their phone number, email address and IP address to see whether…
The iGaming market is hotter than ever as more and more players discover the fun and convenience of gambling online. Many governments around the world are legalizing online sports betting and casino games in an effort to reduce illegal gambling and put better consumer protections in place. But regulations vary widely from country to country…
Account takeover (ATO) fraud is when a bad actor seizes control of an online account, changes information such as the username, password or other personal information, and then makes unauthorized transactions with that account. ATO is on the rise, and businesses and banks are in the crosshairs. 2022 had the second-highest number of data compromises…
Anti-money laundering (AML) starts with knowing your customer. Multiple leaks such as the Panama Papers, Paradise Papers and most recently the Pandora Papers show that politically exposed persons (PEPs) are at higher risk for corruption. PEP screening is critical for ensuring your business takes a risk-based approach and performs enhanced due diligence on high-risk customers…