Industry insider news for New Zealand's technology resellers
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Nuance revamps AI authentication to protect seniors from fraud
The tool utilises intelligence voice detection capabilities to let enterprises identify if callers are over the age of 65 and, if so, prioritise their call, get them to a live agent for service and better protect them from fraud.
Mastercard and Ethoca look out for A/NZ retailers with support package
"In making Ethoca Alerts available to qualifying retailers around New Zealand and Australia for no charge, Ethoca hopes to provide local businesses with a little relief as they adapt to their new way of working.”
Data theft & fraud lead to growth in employment screening services
According to research data from PreciseSecurity, the entire global employment screening services market could reach US$4.8 billion by 2023, reflecting a 7.5% year on year growth.
NZ credit bureau Centrix co-develops fraud detection service
The service has been put through a robust Privacy Impact Assessment and it was developed in accordance with New Zealand’s current privacy legislation.
GBG rolls out anti-fraud solutions to protect against financial crime
“To aid in that fight, GBG offers a layered digital fraud and compliance solution which unifies data across vertical silos to improve financial crime detection accuracy across the customer journey."
Card skimming tech seized in Auckland
Two people were arrested on charges of importing goods for a dishonest purpose, including skimming devices and a card writing machine.
Hong Kong counts the opportunities and costs of leading fintech adoption rates
High early adoption rates and extensive mobile device use make Asia the ideal testing ground for fintech development.
Black Friday fraud: Who foots the bill?
“Given the incredibly high volume of transactions over the coming weekend, and indeed the whole festive period, often merchants will accept that fraud will be higher than usual."
Beating public sector procurement fraud – SAS
The single biggest source of crime experienced by public sector entities is the internal employee in a position of trust.
Cost of fraud averaging 3.4 times lost transaction value - study
The LexisNexis study found that there was an average of almost 400 successful monthly fraudulent transactions in the South East Asia region.
Stairway to hell: Scams, ransomware, and $6.5m gone from Kiwis' pockets
In just a three month period this year, New Zealanders reported more than 1000 cybersecurity incidents and financial losses of $6.5 million to CERT NZ.
ThetaRay offering uses AI against financial cybercrime
ThetaRay version 4.0 enable banks to pinpoint activity that suggests money laundering, terrorist financing, human and drug trafficking, and other financial crimes.
Rapid increase in AI to detect fraud
"Criminals are finding new ways to exploit technology to commit schemes and target victims."
How YouAppi aims to enable effective detection of fraudulent traffic
YouAppi aims to allow brands to make real-time adjustments and optimise marketing efforts in order to reach customers at any point in the funnel.
Domain fraud rampant as criminals cash in
Cybercriminals are cashing in on domain fraud for almost every possible reason – to impersonate businesses, events, and even trusted leaders and celebrities.
AI for fraud detection to triple by 2021 - ACFE
While only 13% of organisations use AI and machine learning to detect and deter fraud, another 25% plan to adopt such technologies in the next year or two.
Meeting the card payment industry’s compliance requirements - Kemp
Combating CNP (card not present) fraud has become a key priority across the entire e-commerce community.
Top three ways to improve financial compliance for your business
“Companies can mitigate risk of fraud by creating a strong compliance culture, and by implementing and enforcing strong policies around spend management.”
How finance leaders can drive growth and avoid risk
“The CFO and finance team are crucial to an organisation’s success."
‘Blockchain bandits’ brute-forcing weak Ethereum private keys
Independent Security Evaluators (ISE) has found that poorly implemented private key generation is facilitating the theft of cryptocurrency.
$33 million lost to scams & fraud: Netsafe says NZ isn't doing enough to stop it
" This is an issue that isn’t going away. More needs to be done or we will continue to see large numbers of New Zealanders suffering financial and psychological harm,” says Netsafe CEO Martin Cocker.
Nuance biometrics fight back against fraud
Nuance Communications has crunched the numbers and discovered that it has prevented more than US$1 billion worth of fraud from being passed on to users of its Nuance Security Suite.
CERT NZ: Email extortion & scams hit Kiwis hard in the pocket
Despite ongoing efforts to raise awareness about online scams and fraud, New Zealanders are still losing staggering amounts of money.
The three new fronts in the fight against fraud
Along with greater speed comes new fronts in the fight against fraud. Here are three trends to watch as financial institutions balance speed and security.