The public is being tricked into sending more and more money to fraudsters. At NetGuardians, we saw a 500 percent rise in authorized push payment (APP) fraud in Switzerland in the first half of this year compared with the first half of 2021, with US$25,000 being the average value and US$500,000 being the largest attempted […]
The Swiss bank had only a narrow window in which to install a fraud-prevention solution that would detect behavior anomalies associated with a payment without generating excessive false alerts. Here’s why it chose NetGuardians The requirement Zurich Kantonalbank (ZKB) is the biggest of the Swiss cantonal banks and the fourth largest bank in Switzerland. It […]
As two US senators turn up the heat on peer-to-peer (P2P) payments app Zelle for failing to stop fraud, Thierry Divenot points out that there is readily available, effective protection already used by P2P networks that can spot and even stop rogue authorized payments in real time Peer-to-peer payment fraud has become such a huge […]
We protect banks and their customers from scammers because together we can stop them in their tracks, writes Jonathan Somers. Fraud warnings are coming thick and fast from the Saudi banking authorities. Three times in the past month the Saudi Central Bank told customers to be more aware of scammers and it accompanied the warnings […]
Incorporating artificial intelligence in fraud prevention software is proving successful at stopping fraud. But when it comes to getting the maximum benefit, it’s better for banks to buy from a specialist third party than to try and build their own, writes Michaël GinGins. Banks used to build their own rules-based fraud-prevention engines, seeing vendor software […]
A new smart software to spot more fraud and cut false alerts, helping banks improve customer service and keep a lid on costs. Writes Joël Winteregg. Whether you’re a venture capital-backed neo bank or a digital unit of an established Tier 1 bank, fraud mitigation should be high on your agenda. Once regarded as a […]
The only way banks will prevent phishing attacks is to use cutting-edge technology to build customer profiles so accurate that they can detect fraudsters impersonating them, writes Joël Winteregg. At the end of last year, a group of fraudsters helped themselves to a bumper early Christmas present – at the expense of more than 450 […]
In 2021, in order to counter the creativity of fraudsters, Lombard Odier decided to raise their game and become even more innovative by leveraging the best of technology such as artificial intelligence (AI). They partnered with NetGuardians to detect both established and emerging on-line payment fraud patterns. Lombard Odier’s Managing Partner Alexandre Zeller interviewed our Co-Founder & […]
It’s a basic rule in data science: when precision and accuracy are required for fraud prevention, make sure you choose the algorithm appropriate to a bank’s data sets and needs. A complex algorithm does not mean better; a simple algorithm does not mean worse, writes Dr. Vivien Bonvin. Not so long ago, a Tier 2 […]
