The Fed’s new real-time payments platform will pose challenges for risk management. Here’s how to cope with that. The U.S. Federal Reserve made its FedNow instant-payments service live in July. It enables a faster flow of cash for companies and individuals, improving the overall flow of money through the U.S. …

Visa Inc. is touting recent changes to how chargebacks that could be first-party fraud, also known as friendly fraud, are processed as potentially saving small businesses globally $1 billion in costs over the next five years. Expectations are that the streamlined process will increase merchants’ ability to provide more accurate …

Monthly global ransomware attacks hit an all-time high in March, totaling 460. That’s a 62% increase from the same period a year earlier, and a 91% increase from the prior month, according to the fall edition of Visa Inc.’s 2023 Biannual Threats Report. Leading causes for ransomware attacks are criminals …

Instances of electronic benefits transfer (EBT) fraud have become more prevalent in the United States as criminals become more brazen and increasingly prey on society’s most vulnerable. Supplemental Nutrition Assistance Program (SNAP) beneficiaries are one of the largest targets for EBT fraud. Last year, SNAP distributed over $113.9 billion to …

Payment security and fraud play a key role in cart abandonment for e-commerce merchants, according to a study by e-commerce solutions provider Radial Inc. The study found that 48% of respondents cited Web site security and 45% listed security of personally identifiable information as their primary reasons for shopping cart …

Risk-management technology provider Feedzai has harnessed artificial intelligence with the introduction of Railgun, its latest fraud-detection engine. What differentiates Railgun, according to Feedzai, is that it taps real-time data such as customer behavior patterns and the use of specific cards across merchant networks over longer periods of time. As a …