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Industry insider news for Australia's technology resellers

Online fraud news stories

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Forter
Digital commerce fraud: What it is and how to stop it
Australia and New Zealand have experienced a 15% spike in sales from the previous year, continuing a trend that accelerated during the pandemic as the world turned to online shopping.
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SaaS
6 significant changes to online fraud we saw in 2021
After a busy year in the cybersecurity and online fraud prevention space, the co-founders of SEON Fraud Prevention weigh in on the top trends that changed fraud in 2021.
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Cybercrime
Online credit card fraud on the rise leading up to holiday season
Analysis from AusPayNet serves as a reminder for consumers and merchants to be vigilant online this holiday season, with research indicating a significant increase in credit card fraud.
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Security
F5 extends Shape Security portfolio to protect against account takeover attacks
F5 has announced multiple security offerings with the intention of helping to safeguard digital experiences with comprehensive account takeover protection.
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Cybersecurity
AI-driven counter fraud platform utilised by eftpos to help prevent cybercrime
Debit card system eftpos has initiated a new AI-driven counter fraud platform for their technology in an effort to prevent online cybercrime and fraud in Australia.
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Forter
Video: 10 Minute IT Jams — Who is Forter?
Today we introduce Forter, an organisation that specialised in fraud detection in eCommerce.
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Digital risk
GBG and SEON strengthen online fraud prevention for financial institutions
SEON’s technology is fully integrated into the GBG Intelligence Center to effectively use email, IP, phone, and social media as alternative data for fraud detection, while meeting compliance and data privacy needs.
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Cloud
Scams number one online crime
“Today scam is more than just solitary fraudulent web pages, it’s an entire industry with advanced technologies under the hood."
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Payment gateways
Forter doubles revenue in 12 months, raising $300 million for a $3 billion valuation
Forter has doubled its revenue in the last 12 months, raising $300 million for a $3 billion valuation.
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Cloud
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.
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Online fraud
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.
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Machine learning
Cloudera: Taking a unified approach to fighting financial crime
With the volume of valuable financial data increasing by the second, how do businesses ensure they balance expectations for robust security controls from customers with their need for convenience?
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Fintech
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.
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Commerce Systems
Black Friday alert: Financial botnets targeting eCommerce apparel sites
Black Friday is arguably the most anticipated retail sales period in the world, when brands offer consumers the largest discounts and promotional offers.
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Online fraud
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.
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Online fraud
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.
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Analytics
How finance leaders can drive growth and avoid risk
“The CFO and finance team are crucial to an organisation’s success."
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Malware
FBI disrupts multiple botnets as part of anti-fraud operation
Ad fraud ring 3eve used botnets to generate nearly 30 million dollars in fraudulent ad revenue.
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Phishing
Kiwis concerned about being scammed – survey
This unease is warranted given the growing sophistication of scammers and their activities, and numbers of attempted fraud.
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Cybersecurity
Mobile app fraud transactions have skyrocketed 680% since 2015
As our lives become increasingly ensconced within apps on our mobiles, it seems so too does cybercrime with fraud "not going away anytime soon."
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Cloud
Cybercrime becomes most common form of fraud in UK
PwC's study has found for the first time ever cybercrime has become the most common form of fraud with nearly a quarter resulting in a loss of £700k.
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Identity Theft
Out with credit cards & in with identity data: Cybercriminals take fraud to new levels
Cybercriminals are ditching the ‘quick buck’ methods of stealing credit cards and are instead going after identity data.
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Digitalisation
Online fraud leaves APAC consumers wary of digitalization
The study found that on average, trust in digital services is relatively low across the region...
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Phishing
Email phishing scam targeting UK students a ‘timely warning’
UK watchdog Action Fraud has released details of an complex email phishing scam that has been touted as a much needed warning for the public.