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Tag: fraud

Payment Fraud at Record Lows Thanks to Analytics and AI, Visa Says

Despite a massive increase in online activity during the COVID-19 pandemic, fraud on the Visa payment network is at an all time low, the company says. One of the chief reasons for that success is a big investment in adva Read more…

Big Data Shines a Light on Bad Actors, But Shadows Remain

This week’s publication of the Pandora Papers--which the International Consortium of International Journalists based on a trove of private data leaked from offshore tax havens--showcased the alarming extent of fraud an Read more…

How Modern Data Strategies Underpin the Digital Identity and Authentication Practices Critical to Digital Transformation

The coming year — 2021 — will move digital customer experiences one giant leap forward, where there’s no need to appear in person to get things done. Virtually every enterprise is accelerating digital transformatio Read more…

ICIJ Turns to Big Data Tech to Unravel FinCEN Files

Unraveling financial crimes like money laundering is a notoriously difficult task, especially when criminals purposely cover their tracks. It gets a little easier when you have advanced tools, such as text analytics, mac Read more…

How AI Fights Fraud During the Holidays

The math is pretty simple: The bigger the holiday buying season, the bigger the pay day for fraudsters Read more…

Western Union Clamps Down on Fraud with ML

Money transfers are a rich target for fraudsters, who have devised all sorts of creative ways to steal the funds. But thanks to a sophisticated machine learning system running atop a large Hadoop cluster, Western Union h Read more…

Deep Learning Taking Over HPC, But It’s Good for Business Too

Be prepared for a heavy dose of deep learning if you're on the floor of the Supercomputing 2018 show this week in Dallas, Texas, where the scientific community will demonstrate how neural network-powered AI applications Read more…

Faking It: Dealing with Counterfeits in the Age of AI

The news isn't the only thing being faked these days. Thanks to cutting edge machine learning techniques, it's easier than ever for people to generate counterfeit videos, audio recordings, and signatures. Today's algorit Read more…

How Credit Card Companies Are Evolving with Big Data

As overseers of our digitized marketplaces, credit card companies have a bird's eye view of what we buy. If you want to know what American consumers are interested in, there's perhaps no better way that to examine their Read more…

‘Tis the Season to Hunt Fraudsters (with Big Data)

Everybody loves Christmas--especially the fraudsters who cloak their criminal schemes in holly, tinsel, and the rush for last-minute gifts. For the folks at ecommerce fulfillment giant eBay Enterprise, keeping the frauds Read more…

Taking a Bite Out of ‘Cookie Stuffers’ with Big Data

Traditionally, advertisers have accepted fraud as a cost of doing business on the Web because the volume of fake traffic generated by bots and malware was too great to do anything about. But recent advances in big data analytics are giving ad buyers and other companies new tools to detect "garbage traffic" and other unethical schemes, such as cookie stuffing, and to reclaim ad revenue previously lost to fraud. Read more…

Fighting Telephone Fraud with Data Analytics

The call came in just as Sheila B. started her shift at the bank's call center. The customer sounded distressed. He was having money problems, he said, and he needed to tap his home equity line of credit. Even though he'd forgotten his account number and PIN, he knew his social security number, so Sheila B. completed the $50,000 transfer as requested. A day later, she learned she'd been duped by a sophisticated ring of fraudsters operating out of Slovenia, but by then the money was gone. Read more…

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