DataVisor

Advanced fraud mitigation technology isn't just for the big banks. Read the latest on our partnership with DataVisor and what it means for your community bank's peace of mind: https://hubs.ly/Q02HPGqw0 #bankondci #communitybanks #fintech

🌐 DEFEND Webinar Recap 🌐 Mid-Year Review - Strategies Against Emerging Fraud Threats Curious about the latest strategies to combat fraud and what’s ahead? Here's a sneak peek into our recent webinar held on July 24, where industry experts shared valuable insights: 🎙️Speakers: - Kevin McWey, Chief Revenue Officer, DataVisor - Tanna Faulkner, SVP, Sales and Digital Channels, DCI - Maxim Spivakovsky, Sr. Director, Global Payments Risk Management, Galileo Financial Technologies - Michelle Prohaska, NCCO, NCRM, CRCM, Chief Risk & Compliance Officer, Nymbus 💡 Key Highlights: 1. First-Party Fraud Panelists explored innovative strategies to combat first-party fraud and improve security from onboarding to transaction monitoring: - advanced detection technologies - unified fraud prevention plans - collaborative efforts 2. Leveraging Consortium Data: Industry experts agreed the future of leveraging consortium data to streamline fraud detection and prevention in the financial sector is three-fold: - sharing critical information and digital signals - protection of private information - community collaboration 3. AI-Powered Fraud Attacks: Panelists shared their experiences in detecting and preventing AI-powered fraud attacks - education internally for employees and externally for improved customer awareness - combining advanced technologies with human oversight - leveraging AI and machine learning to get ahead of fraud with advanced pattern recognition and behavioral analysis across the customer journey. 📢 Missed the webinar? Watch the full recording here https://lnkd.in/eczffnuF to dive deeper into these topics. Stay tuned for more updates and join us in our fight against fraud! 💪 #FraudPrevention #DataSecurity #AI #WebinarRecap #DataVisor

🚨 Happening TODAY! 🚨 Join us in an insights-driven, forward-looking DEFEND webinar, where industry experts will discuss some of the key topics in fraud in 2024 - AI-driven fraud attacks, first-party fraud, and leveraging data consortiums in fraud prevention. 🛡 DEFEND Webinar Mid-Year Review: Strategies Against Emerging Fraud Threats 📅 Date: Jul 24, 2024 ⏰ Time: 11am PT / 2pm ET Register here 👉 https://lnkd.in/eczffnuF

Fraud rings aren’t new, but the rise of sophisticated, highly coordinated rings is a very disturbing trend. We’ve seen firsthand how these groups can exploit weaknesses in traditional security measures and launch large-scale attacks, far beyond individual fraudulent activities, inflicting significant financial damage and eroding trust. The escalating challenge these groups pose is clear—a notable fraud ring from Southeast Asia that made headlines in 2022 for stealing an estimated $660 million from U.S. ecommerce platforms is still relentlessly operating. Old fraud prevention methods just don’t cut it against these hyper-organized fraud rings. So, how do we combat their ever-evolving threats? By harnessing the power of AI 🧠 🔑 AI is the key to stopping fraud rings thanks to its powerful and robust fraud detection capabilities, such as: 👉 Creating a centralized intelligence hub, powered by a robust layer of data orchestration, the backbone of sophisticated ML models 👉 Decoding digital identities with device intelligence and behavior signals 👉 Feature engineering, by transforming raw data into risk indicators that are pivotal for fraud detection 👉 Uncovering patterns and anomalies in large datasets, in real-time, using Unsupervised Machine Learning, With sophisticated fraud rings becoming more elusive by the day, a holistic approach is what large organizations need to combat these fraud rings effectively. Here are four real-world examples of fraud rings you can explore, plus insights into protecting your organization and maintaining the trust of your customers. 👉 https://lnkd.in/ePhd34zZ #ai #artificialintelligence #fraudprevention #machinelearning #fraudtech #fraudstrategy #bankingfraud

Only two days left to register for the upcoming DEFEND webinar where experts from DataVisor, DCI, Nymbus and Galileo Financial Technologies will discuss the biggest topics in fraud in 2024: ✔️ AI-powered fraud/scams ✔️ First-party fraud and prevention strategies ✔️ Consortium data and best utilization of data signals Save your spot so you don’t miss out! 🛡️ DEFEND Webinar Mid-Year Review: Strategies Against Emerging Fraud Threats 📅 Date: Jul 24, 2024 ⏰ Time: 11am PT/ 2pm ET Register here 👉 https://lnkd.in/eczffnuF

Time is one of the most valuable commodities for fraud teams. So when it comes to allotting time to improving a fraud detection system, your team has to answer one question: “Should we spend time upgrading or do we need to scrap and start fresh?” DataVisor CEO Yinglian Xie gave her thoughts on when its better to upgrade vs overhaul a fraud detection and prevention platform, and it’s highly valuable insight for any fraud team. 👉 https://lnkd.in/efC-eB_N

By 8/1 Target will no longer accept checks as payment due to “extremely low volumes.” That’s a sign of two things: 1) we know checks are still fading fast as a payment choice for many points of sale, and 2) retailers can effectively eliminate check fraud scams by simply not accepting the payment. Target’s move is a wise one to eliminate a fraud threat without impacting customer experience in a significant way. 👉 https://lnkd.in/gtVM6uXZ #checkfraud #fraud #fraudtech #fraudstrategy #bankingfraud

📣 One week to go! We are already halfway through 2024. This year many of the discussions in the fraud prevention space have centered around a few topics: the rise of AI-driven fraud attacks, ways to tackle first-party fraud, and how to best understand and leverage the role of data consortiums in fraud. Join us in our upcoming DEFEND webinar and hear our panel of experts discuss these topics and fraud prevention strategies to level up your defense. 🛡️ DEFEND Webinar Mid-Year Review: Strategies Against Emerging Fraud Threats 📅Date: Jul 24, 2024 ⏰Time: 11am PT/ 2pm ET Register here 👉 https://lnkd.in/eczffnuF

As fraud fighters, we need to be aware of every emerging threat. But this year has shown some attack vectors are becoming outsized risks compared to others. What do you see as the biggest fraud threat on the horizon? #fraudtech #fraudstrategy #bankingfraud #ai #artificialintelligence #fraudprevention #machinelearning

Stolen identities are an expensive problem for victims and FIs alike. Just how expensive? According to Intellicheck CEO Bryan Lewis, his company prevented more than $400 million of potential loss through fake ID transactions. His discussion with PYMNTS says what many fraud leaders are already thinking—synthetic IDs are a major problem, and FIs need to prioritize detecting and mitigating account openings with fake information. https://lnkd.in/e_rJ9fJU #fraudtech #fraudstrategy #bankingfraud #fraudprevention