Blockchain technology has grown beyond its origins in cryptocurrency, increasingly being adopted across various sectors for its potential to revolutionize security and transactional integrity. Notably, large financial institutions and startups alike are leveraging blockchain to mitigate fraud and
Times are changing in Scandinavia, where a high-trust society is being replaced by something different. As many transactions are now 100% digital, it’s something that all insurers should be aware of and deploy tools to spot potential fraud from quote to claim settlement. Here’s the word: A new
The financial and technology sectors are witnessing significant developments. Dutch neobank Bunq is embarking on a substantial hiring spree, and Mastercard has strategically acquired cybersecurity firm Recorded Future. These moves highlight the evolving landscapes of digital banking and
The Financial Ombudsman Service (FOS) has reported a significant surge in fraud and scam complaints, reaching levels not seen in the past six years. Between April 1 and June 30, consumers lodged 8,734 cases, marking an astonishing 43% increase compared to the same period in 2023. This surge is the
The rapid growth of digital banking, alongside increasing incidents of account takeover (ATO) fraud, has propelled banks to seek more advanced security measures. Traditional biometric systems, such as facial and fingerprint recognition, have been a popular choice, but they come with inherent
The financial industry is at the cusp of a significant transformation, driven by Generative AI (GenAI), which is rapidly becoming a crucial tool in the fight against modern financial frauds and crimes. The article by Ellen Roberson delves into the innovative applications of GenAI, highlighting
