Fraud prevention stories

UK retailers have suffered losses of around GBP £464 million in missing parcels during the peak shopping season, with potentially millions more unaccounted for.

Identity fraud costs businesses USD $7 million yearly worldwide, with Asia Pacific firms facing rising threats from sophisticated attacks, a new study finds.

Google blocked over 5.1bn ads and suspended 39.2m accounts in 2024, using AI advancements to combat ad scams and protect consumers.

Ecommpay has urged merchants to enhance their fraud prevention strategies as UK ticket fraud losses soared to GBP £9.8 million in 2024, up 47% from the previous year.

A recent report reveals that 61% of Australian businesses face rising fraud incidents, prompting a shift to AI-driven security solutions to combat these threats.

Fraud cases in the UK surged by 12.5% in 2024, with identity fraud now comprising 59% of reports, highlighting a worrying trend in cybercrime tactics.

Flare's latest report reveals a staggering rise in account takeover attacks, exposing organisations to losses of tens of millions annually due to session hijacking.

Mastercard has unveiled a five-year strategy to innovate payment methods in Australia, tackling a surge in card fraud that nearly hit $1 billion in 2024.

Pure Storage has partnered with THG Ingenuity to enhance AI capabilities and sustainability, cutting data centre power use by 80% while supporting global growth.

Ecommpay has been named a finalist in four categories at the Retail Systems Awards, recognising its innovations in payment solutions and fraud prevention.

Fastly has launched updates to its Bot Management service, enhancing online security while improving user experiences by reducing reliance on CAPTCHAs.

Fastly has unveiled enhancements to its Bot Management service, reducing CAPTCHA dependency while bolstering security and user experience across its platform.

Edenred Payment Solutions unveils a Virtual Card Number to expedite insurance payouts, addressing customer demand for quicker claims processing.

Carol Chris, General Manager of GBG APAC, emphasises innovation in fraud prevention amid rising data breaches, as demand for compliance solutions grows.

Adyen has partnered with Reece to modernise its payment systems across Australia and New Zealand, enhancing customer experiences at 600 outlets.

Endowus has teamed up with Twilio to enhance security on its digital wealth platform, addressing a surge in fraud cases with advanced verification measures.

A recent Outpayce study reveals that over 70% of travellers prioritise payment security over discounts, highlighting growing concerns over cyber fraud in travel.

Group-IB's Fraud Protection solution is now available on AWS Marketplace, enhancing online security for businesses against fraud-related threats.

The London Stock Exchange Group has introduced its Global Account Verification solution in APAC and EMEA, tackling supplier fraud amid rising payment scams.

A survey by Sumsub reveals that nearly half of British dating app users see deepfakes as heightening risks, particularly affecting women's safety.