Fraud & Identity

By Ruchir Kumar A recent ISA Cybersecurity survey revealed that 76 percent of Canadians polled are concerned about their financial institution’s ability to maintain the security of their personal information. Their concerns aren’t unfounded: 32 percent of financial services organizations in 2023 global survey on the state of security reported …

By Jude Pinto Since announcing renewed momentum with a stronger path forward earlier this year, Payments Canada and our delivery partners, CGI, IBM and Interac, have made significant progress on the Real-Time Rail (RTR). In late summer, we successfully commenced the build of the real-time clearing and settlement component of …

By Jeffrey Feinstein, PhD, vice president, global analytic strategy, LexisNexis Risk Solutions, and Alanna Shuh, director, fraud and identity, LexisNexis Risk Solutions Fraud is an escalating challenge in Canada, particularly for financial institutions. The 2023  LexisNexis Risk Solutions True Cost of Fraud study indicates that Canadian financial services fraud executives reported …

Majority of Canadians polled believe their data is more exposed than ever and are concerned about the threat to their privacy TORONTO,ON – Canadians feel they have lost control of their personal data. Findings from a recent survey by Interac Corp., published during Data Privacy Week, reveal nearly eight in …

Annual LexisNexis Risk Solutions Report finds fraud is up across U.S. and Canadian financial services firms ATLANTA, GA–The findings of the 2022 LexisNexis True Cost of Fraud™ Study: Financial Services and Lending shows some disturbing trends.  This sixth edition of the report examines current fraud trends for more than 500 …

Social isolation, increased online activities cited as contributing factors to vulnerability TORONTO, ON–According to a TD Bank survey for this year’s Fraud Prevention Month, more than half of Canadians polled feel vulnerable to financial fraud. Respondents point to social isolation and online behaviours such as sharing too much information on …

VANCOUVER, BC–PT. ALTO Network (ALTO), a National Payment Gateway for Indonesia, has chosen the INETCO Insight software to deliver world-class performance and security monitoring. This partnership further supports the National Non-Cash Movement and Bank Indonesia’s National Payment System vision. ALTO is Indonesia’s leading provider of end-to-end payment switching and digital …

PURCHASE, NY–Mastercard has released Cyber Secure, which is reportedly a first-of-its-kind, artificial intelligence (AI)-powered suite of tools that allows banks to assess cyber risks across their ecosystems and prevent potential breaches. With these capabilities, banks can identify and prioritize threats and vulnerabilities throughout their cyber environment. Additionally, acquiring banks can …

NEW YORK, NY—Forter has partnered with FreedomPay to establish what may be the first joint network for online merchants and banks to instantaneously block fraud and enable legitimate consumers to operate freely. The partnership aims to address a major issue where multiple players (online merchants, credit card issuers, and banks) …

BROOKFIELD, WI–According to the 2020 Fraud and Security Survey, released by Fiserv, 79 percent of U.S. consumers say that cybersecurity is equally or more concerning that it was for them a year ago. Cybersecurity concerns remain as consumers increasingly adopt digital payment methods that facilitate touchless interactions, yet which often …