The data-sharing routines undergirding a wide variety of payments services offered by fintechs like PayPal and Block depend on open banking, which has emerged to enable crucial information transfers from financial institutions while keeping sensitive account data from falling into the wrong hands. Now the latest update to the rules …

The U.S. Department of Justice announced late Friday it is filing cases against several fraud rings that use so-called microtransactions to mask their fraudulent activity from victims and card issuers. The lawsuits are being brought as part of efforts by the Justice Department’s Consumer Protection Branch to stop criminals that …

The digital revolution in payments, characterized by a surge in online transactions and the emergence of novel payment technologies, has been a double-edged sword. While innovations have streamlined commerce, they have also spawned intricate fraud mechanisms, compelling businesses to recalibrate their strategies for safeguarding their operations, reputation, and financial survival. …

Tokenized credentials are supposed to stop fraud by masking card account numbers when a transaction is processed, but according to Visa Inc. global losses owing to illegitimate tokens totaled $450 million last year. That’s bad enough to prompt the network to announce early Wednesday it is launching Visa Provisioning Intelligence, …

Short-message service, or SMS, is coming to the aid of fraud managers looking to verify the identity of persons on the receiving end of payments transactions. The technology, which undergirds the well-known texting function between users of mobile phones, can be harnessed to stop fraud, according to security firm DataVisor …

These days, fighting bad actors without automation is worse than useless. It’s dangerous to the bottom line. Automation is often thought of as a threat to humans’ jobs. I’d argue that mindset is very limiting. Technology and humans are complementary. Automation is here to enhance human actions and increase their …