Use of real-time payments is one of the most dangerous trends in fraud, including so-called authorized push payment fraud. Criminals trick consumers into authorizing a payment of a fake invoice or unwittingly sending an SMS that triggers a payment.
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Criminals utilize new technology and new schemes to commit payment fraud. Therefore, banks and card issuers must be even more sophisticated and use the latest analytic innovations to fight fraud.
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Payment fraud is a pressing issue as criminals increase their level of sophistication and use of technology. New security solutions expose more than 8 out of 10 attempts, even before the fraud comes to the customer’s attention.
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Scandinavian finance leader wins FICO® Decisions Award for Fraud Control using the FICO® Falcon® Platform Cloud Edition.
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