Sift: Fraud is no longer a transaction problem, it is a network problem

Fragmented state laws and inconsistent standards have created gaps in identity verification and transactional risk for financial institutions. But even without a consistent standard, there are ways for financial institutions to disrupt malicious activity before it reaches identity systems, applications, or transactions—and before a breach becomes public. A report from Javelin Strategy & Resear

The way financial products reach customers has changed beyond recognition, and with it, the shape of financial crime risk. Branches, telephone banking and card networks once offered clear, contained channels that were relatively easy to monitor. According to Arctic Intelligence, today’s landscape of digital onboarding, mobile-first platforms, instant transfers, API-driven services, embedded

Businesses may be able to strengthen their fraud defenses by putting the bank connections they already have to fuller use. The PYMNTS Intelligence report “Payment Protection: Why Firms Still Aren’t Real-Time Ready” found in August that nearly all firms have secure access to customer bank data with permission, but fewer than half use those connections […] The post 49% of Firms Use Bank Accoun