Fintech

According to a report by Cybersecurity Ventures, cybercrime is expected to cause $10.5 trillion in damages by 2025. In response, companies are investing in technology solutions to combat fraudulent activities. Device intelligence is a cutting-edge technology that utilizes device and network telemetry data and user behavior to determine user intent and integrity. Read on to stay ahead of the curve and protect your business.

The updated SAMA mandate was enacted in October 2022, and the compliance deadline for financial services companies is June 29, 2023. This means all financial services companies operating in Saudi Arabia must fully comply with the updated regulations by the end of the second quarter 2023 to avoid negative consequences.

With the recent regulatory announcement of crypto businesses coming under PMLA, businesses need to prioritise security and regulatory compliance to prevent money laundering and identity theft

The collapse of a bank can cause chaos and confusion for account holders and businesses alike. During these uncertain times, financially-motivated cyber-criminals are known to seize opportunities, targeting former account holders and the customers they serve.

As the regulatory landscape continues to evolve, fintech, lending, and insurance companies must stay ahead of financial fraud to maintain the trust of their customers and stakeholders. Bureau's transaction monitoring bundle help companies fight financial crimes by reducing false positives, increasing efficiency and efficacy, and building credibility with regulators.

In our guest column, Prim Warner talks about how Artificial Intelligence (AI) has emerged as a game-changer in the fight against fraud, and why it is undoubtedly the future of fraud detection and prevention.

Behavioural Biometrics, a new-age proactive fraud detection engine, can detect frauds much before it happens.

Cyber fraud affects businesses of all sizes and is prevalent across industries. It can erode customer trust, damage reputation, and result in significant financial losses. Hence, creating a multi-pronged approach using Artificial Intelligence (AI) & Machine learning (ML) turns out to be more efficient than traditional fraud detection methods.

Behavioural Biometrics is a new-age proactive fraud detection engine that can detect new-age frauds much before the fraud happens. All this without additional friction.

Detecting mule accounts is a complex process as criminals employ various methods to launder stolen funds. So can they be tackled? ‍Combating money mules require specialised solutions that can be deployed in real-time. Read on to know more.

In 2021, India was the third-largest victim of expanding cybercrime with five significant data breaches. Safeguarding critical infrastructure and data is, therefore, essential. In that respect, zero-trust systems can be viewed as a form of insurance against lost or stolen data.

As cryptocurrency platforms see a continued rise in new account sign-ups and transactions, it is essential that they have a process in place to identify good customers and reduce friction while safeguarding reputation and compliance.

Behavioural biometrics powers businesses to stay one step ahead of fraudsters and enhances the customer experience by validating users based on the unique way they interact.

To safeguard the digital lending ecosystem, RBI released the digital lending guidelines that aims to regulate digital lending and crack down on the growing incidences of fraud and malpractices. Here's a summary of the guidelines

With fraudsters becoming craftier, understanding and predicting player behaviour isn't enough to prevent gaming fraud. Gaming platforms can identify fraudulent activities by using data to automate escalation and take action against suspicious behaviour by linking the dots in real-time.

The core theme of the 'Payment Vision 2025' document is 'E-Payments for Everyone, Everywhere, Every time'. At Bureau, we are working towards ushering in a new era of frictionless and fraud-free transactions that support RBI's vision and will deliver unprecedented trust and security to businesses and consumers alike. 

Debanjan Chatterjee writes about Central Bank Digital Currency and its noteworthy benefits which include the financial inclusion of the unbanked population and direct fiscal transfers to households.

In the last few years, there have been significant data breaches that have exposed users’ sensitive information across the globe. Because of these genuine risks, the ability to verify a user’s identity is critical to your security infrastructure.

The future of banking rests on a digital infrastructure that can create reliable digital customer journeys for onboarding by gathering appropriate information with the least friction possible. A slick, agile and flexible solution such as Bureau’s checks for fraud and friction seamlessly.

Risk-based authentication has become increasingly important as ID fraud, transaction fraud, and account takeovers (ATOs) continue to skyrocket. Bureau’s RBA solution uses a risk engine with machine learning to detect fraud better

Institutions and businesses today do not have the luxury of time and resources and must authenticate transactions in a matter of seconds. Hence, fraud detection with machine learning becomes viable due to its ability to learn from historical fraud patterns and block them in future transactions.

With PayPal admitting to having identified 4.5 million fraudulent accounts, it becomes imperative for businesses to invest heavily in fraud prevention tools that combine intelligent automation to transform the client experience, prevent bots and accelerate onboarding.

Unlike traditional banks, neobanks run the risk of increasing customer churn, by applying more checks and frictions. Hence, they need a solution that verifies identities in the background and pulls up data in real-time.

As lucrative commissions attract more agents to the rapidly growing insurance industry, fraud cases have also risen. But what if there's a way to use a risk intelligence system to identify bogus applicants and assess them? It's now possible to identify such fraudsters with Bureau.

In this rapidly changing digital world, customer experience and convenience have emerged as critical differentiators of a world-class digital transaction experience. To deliver an exceptional customer experience, the onboarding process needs to be as seamless and simple as possible.

The right KYC experience is an essential part of your customer’s onboarding journey and can make or break your business. Most businesses don’t pay much attention to adopting stringent identity verification processes unless something goes wrong.