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AML regulations: Cleaning up dirty money scams in the financial industry

As the digital landscape evolves, so do the regulations designed to protect individuals, businesses, and governments around the globe. One such evolution has taken place surrounding money laundering, whose impact has grown exponentially with new digital financial transaction options. In this article, we look into money laundering, the anti-money laundering (AML) regulations put into place

On-demand services: Best practices to prevent fraud and deliver trust

On-demand services are transforming the way we live, giving us more control over how, when, and where we buy, sell, and trade the services and products that make up our lives. Consumers went from using an app to get a ride somewhere, to ordering food and paying for it on their smartphone. The convenience of

Facebook Messenger phishing trip nets millions of victims: Can MFA help?

You may have seen news about the recent Facebook Messenger hacks or seen the repeated ‘My account has been hacked’ message on your Facebook feed. You may have also seen the suggested solution is to use multi-factor authentication (MFA) also known as two-factor authentication (2FA) for increased protection against the scams hitting FB Messenger. Though

Today’s fintech revolution: Is your onboarding process stuck in the past?

When’s the last time you went to your bank? Chances are, it’s been a while since you filled out a slip while waiting for the next available teller. Today, almost all financial transactions can take place digitally—anywhere, any time—and in the palm of our hands. Financial institutions, both new and old, compete for business and

COVID identity crisis: How onboarding best practices help prevent fraud

Despite the negative health and economic effects of COVID around the world, it initiated changes in how we live and workÑboth out of necessity and in hopes that we could come out of the pandemic stronger when the world opened again. Fraudsters used the health crisis to fine tune their malicious tactics to exploit businesses

New account fraud: Best practices for prevention

If you’re a problem-solver, one who longs to find the answer to an unsolved mystery, you understand that the solution lies in its origin. Trace the issue back to its source to find the missing piece that completes the puzzle. Fraud, though not always a mystery, is similar: Have a problem with fake users or

Secure onboarding: Why a tailored solution beats one-size-fits-all

A one-size-fits-all approach works great for stretchy sweatpants and sweatshirts. Simple and cost-effective, especially if your size fluctuates around the holidays. But when it comes to customer onboarding, a one-size-fits-all approach that seems simple and cost-effective can open the door to fraud and risk, which leads to financial and reputational losses. This article examines the

Say hello, not goodbye: How to prevent onboarding churn and abandonment

Onboarding new customers is your first chance to say hello while making a great first impression. But if your process isn’t welcoming, frictionless, and secure, it can end in a quick goodbye. Today, people expect a secure, simple onboarding experience. At the same time, product managers and sales teams are incentivized to board as many