ACUANT BLOG

Combating Synthetic Identity Fraud: Key Takeaways from the OWI Panel

Hacking, money mules, identity theft and synthetic fraud are some of the many vectors of attack being used globally to target and exploit banks and fintechs for money laundering purposes. There is no silver bullet to end fraud schemes (or...

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Everything You Need to Know About [Money] Mules & How to Detect Them- Hint: It’s Not a Sniff Test

It's no surprise that targeted fraud is an ongoing problem for many businesses. According to a JP Morgan report, 81% of businesses were targets of some form of payment fraud in 2019. One of the many — and damaging —...

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The Move to Digital Means More Challenges: A Case for Mobile Verification & Automated KYC

We all know that data breaches and identity fraud were on the rise before COVID-19, but now we are seeing an even sharper increase due to current operations being unprepared. With a 250% increase in digital channel usage, fraudsters are increasingly taking advantage of businesses and preying on consumers. How do businesses combat and...

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Capturing the Millennial Market with Identity Verification

From a business perspective, capturing millennial business and future tech-focused generations is vital. At least 54% of their purchases are online and they exercise significant purchasing power: there are roughly 80 million Millennials in the U.S. and in 2020 are...

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It’s Time to Automate your KYC Compliance

There is a strong case to automate KYC (Know Your Customer) compliance today. An increasing volume of online transactions and an increase in the rate at which these transactions occur, on top of the current Covid-19 pandemic, makes manual processes almost impossible. No ordinary compliance team...

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Demystifying and Destigmatizing Facial Recognition: An Education on the Use of Facial Recognition in Identity Proofing

When major players like IBM start pulling out of the facial recognition market, it makes sense to pause and take a deeper look to understand the controversy. Headlines are touting alarms of citizen surveillance that have led to very unsettling...

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Risk and Compliance Solutions for Payment Service Providers

Companies that scale and succeed are those that dedicate time and effort to implement and tune their risk models and processes for fraud prevention and money laundering. For any type of business, but specifically for Payment Service Providers (PSPs), adopting...

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Velocity Rules to Identify Online Card Fraud: A More Flexible Way to Leverage Historical User Behavior as a Risk Indicator

Dating back a couple of decades when ecommerce started, one of the first tools to identify online card fraud were velocity rules. Velocity rules measured the number of transactions that were performed by a particular credit card in a (short)...

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Fraud Trends During COVID-19 & What Businesses Need to Know 

COVID-19 has changed a lot about how we interact, purchase and work. Because many have been quarantined, and because stores have changed how they interact with shoppers, online has become a preferred way, and for some, the only way to shop...

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Payments + Fraud Prevention & Compliance = IdentityMind (now Acuant Compliance) Added to Dwolla Partner Ecosystem

Payments are a key ingredient of online business. Dwolla works with a wide variety of companies to quickly enable them to collect and disperse payments online. However, doing business online requires being able to identify and verify your customers, and...

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A Digital Transformation in Healthcare

The term “social distancing” otherwise a relatively unknown phrase just 12 months ago is now one of the top searches on Google. The healthcare industry has been forced to rethink their entire practice due to the Covid-19 pandemic. They have...

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Mobile Money: Financial Service Institutions and the Rise of Digital Identity

In the span of three months there has been a massive culture shift to embrace all things digital. Telemedicine is on the rise, workplaces have turned to Zoom and other cloud based collaboration tools, and small retailers are using ecommerce...

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