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E.g., 2023-02-04
E.g., 2023-02-04
January 19, 2023
Coming out of 2021, society was slowly getting out of the pandemic’s vise grip and returning to a new state of normal. Even so, financial services organizations and their financial crimes leaders continued to navigate a complicated global ecosystem, particularly as organized crime sustained its relentless assault against financial services firms, businesses, and consumers. Economic uncertainty...
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November 16, 2022
The world is returning to many pre-pandemic norms, and Money 20/20 was no exception. There was quite a crowd at the Las Vegas show in late October 2022. Numerous people I spoke with commented that attendance was up considerably compared to last year, and the energy and excitement in the air matched the crowd size. In walking the exhibit floor and talking to many companies showcasing their...
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September 14, 2022
Having spent a good part of my career managing fraud-prevention solutions that harness the power of collaboration, I’m a big believer in the valuable role collaboration plays in the fight against financial crime. This is one of the many reasons why I volunteer my time as a member of the advisory board of The Knoble, a nonprofit dedicated to bringing together the anti-financial-crime community to...
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August 18, 2022
As a long-time practitioner in the anti-fraud space, I tend to be more tolerant of false declines and friction than your usual consumer. However, I also tend to be more critical of poor customer experiences, since I’m very much attuned to the art of the possible. I had an experience last weekend that was categorically a fraud fail for my issuer; it left me aghast at the state of their controls,...
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July 27, 2022
Merchant acquirers and payment processors often toil behind the scenes, invisible to individuals purchasing goods and services from an ever-increasing number of in-store and online merchants. But these acquirers and processors (collectively referred to as acquirers here) are facing unprecedented risks across a number of fronts. Aite-Novarica recently interviewed 20 acquirers across North...
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July 21, 2022
The Great Resignation—a phenomenon in which an unprecedented number of employees worldwide quit their jobs over the past few years—has ushered in novel ways of thinking about workplace culture. Employees are prioritizing a better work-life balance, remote and hybrid options, and higher pay. Many companies have sought to adapt to these shifting expectations, but a talent gap—or labor shortage—...
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July 18, 2022
As part of Aite-Novarica’s Top 10 Trends in Fraud & AML, 2022: Braving the New Normal in January of this year, I predicted that regulatory pressure would increase due to a rise in scam activity. While I have yet to see much evidence of an increase in actions against financial institutions (FIs) by regulators, you don’t have to look very hard to see that consumers are beginning to show signs...
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June 22, 2022
The COVID-19 pandemic spurred on rapid digitalization, forever changing how people and organizations conduct business. While this digitalization brought many benefits with it, it also opened new attack vectors and brought about increasingly sophisticated and frequent cyber threats. Bot attacks are one particularly pernicious type of threat, and they are on the rise. According to Kasada’s 2021...
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June 9, 2022
At times, we all think our job is difficult. The pandemic has really made some jobs a lot harder. One such job is those who protect their company from online fraudsters. The pandemic drove significant increases in online and mobile banking, along with e-commerce buying. In the expanding sea of online commerce, how do you differentiate the good consumer from the fraudster? Hidden threats lurk...
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May 26, 2022
User friction: It is such a complicated topic. If it’s done well, you can appreciate it, or at least accept it, because it’s protecting you and your financial interests. If not done well, it’s nearly universally hated. Striking that balance, while very doable, seems to be difficult for some financial institutions. I ran into an institution recently which provided a perfect example of what NOT to...
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