Payment Security

Australian banks have introduced a digital platform called the Fraud Reporting Exchange (FRX) in an effort to crack down on authorized push payment scams. The platform enables the reporting of fraudulent payments in near real-time, increasing the chances of freezing and returning funds to affected customers, thus disrupting fraudsters and scammers.

Coinbase has filed a suit against the Securities and Exchange Commission, asking a court to make the regulator respond to a petition from last year on the "rules to govern the regulation" of digital assets.

Silvergate Bank has gone into liquidation, raising further concerns about rising volatility in the crypto sector.

Source: Capgemini

New payment methods (instant payments, e-money, mobile and digital wallets, account-to-account, QR codes) are leading the charge with consumers, but the looming threat of recession and growing inflation rates coupled with continuing geopolitical issues, is posing a whole host of new challenges.

Source: Riskified

Riskified (NYSE:RSKD), a leader in eCommerce risk intelligence, today announced its partnership with Deloitte, a leader in fraud and financial crime advisory services, to empower merchants with real-time insight into how their chargebacks, approval rates and fraud costs compare to similar companies in their space.

Some of the biggest names in the US banking industry are coming together on a proof of concept for a regulated digital asset settlement platform.

Source: Paytm Labs

Paytm Labs, the advanced R&D division of fintech giant Paytm, has launched Pi, an ML-powered fraud risk management (FRM) platform designed for fintechs, banks and eCommerce marketplaces with high transaction volumes.

Source: DCMA

Today, at the International Monetary Fund (IMF) Spring Meetings 2023, the Digital Currency Monetary Authority (DCMA) announced their official launch of an international central bank digital currency (CBDC) that strengthens the monetary sovereignty of participating central banks and complies with the recent crypto assets policy recommendations proposed by the IMF.

The Monetary Authority of Singapore and the Federal Reserve Bank of New York are teaming up to explore the use of wholesale CBDCs for cross-border payments.

Source: CellPoint Digital

CellPoint Digital, the global leader in payment orchestration, today announces it has teamed up with Cybersource, a Visa solution and a recognized worldwide leader in payments management, to provide merchants with a holistic solution for fraud management capable of aggregating transaction data across multiple acquirers.

Consumer lender Latitude Financial has disclosed a major data breach that resulted in the theft of 14 million customer records, including personal information, drivers licenses, passports, and financial statements.

200 days on from the mandatory introduction of Strong Customer Authentication (SCA) in the UK, 73% of retailers have seen online payment fraud decline, according to data from Barclaycard Payments.