Evolving Card Fraud - How Criminals may Attack after EU PSD2 Regulations
London, Oct. 15, 2019 – Since online transactions became the norm for consumers around the world, banks, merchants and card providers have worked very hard to put up walls to stop criminals taking advantage of unsuspecting users.
In his latest opinion piece for SC Magazine, Sean Neary, Senior Product Officer at Featurespace, weighs in on how PSD2 will impact criminal behavior and how card issuers and banks will need to adjust.
“The challenge for banks, card issuers, merchants and merchant acquirers will be to try and stay ahead of the fraudsters. This will require real-time monitoring of transactions, which for many will be a challenge and may result in missing the fraud altogether or catching too much in the form of false positives.”
Read more at SCMagazineUK.com.
About Featurespace - www.featurespace.com
Featurespace™ is the world-leader in fraud detection, risk prevention and Anti-Money Laundering monitoring. Featurespace invented Adaptive Behavioral Analytics and created the ARIC™ platform, a real-time machine learning software that risk scores events in more than 180 countries to prevent fraud and financial crime.
The ARIC platform uses advanced anomaly detection to automatically identify risk, catch new fraud attacks and identify suspicious activity in real-time. More than 20 major global financial institutions are using ARIC to protect their business and their customers, including 4 of the 5 largest banks in the UK. Publicly announced customers include HSBC, TSYS, Worldpay, Contis, Danske Bank, ClearBank and Betfair.
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