Latest news with #fraudprevention
News.com.au
5 hours ago
- Business
- News.com.au
‘Devastating': Major bank sounds the alarm over mid-afternoon messages
Australians are being warned to double-check any messages they receive in the afternoon, as new data reveals scammers are most likely to strike at the busy end of the day. The figures released by Westpac show scammers will most likely be successful on a Tuesday at 4pm. Remote access scams are the most common way Aussies are being ripped off, while another 20 per cent are falling for fake investment opportunities and 13 per cent for buying and selling scams. While Australians are most likely to be targeted on near 4pm on a Tuesday, they are most likely to fall victim on a Thursday, with the majority of scams occurring after lunchtime during the week. Westpac head of fraud prevention Ben Young said Aussies were at their most vulnerable at this time as they were distracted while finishing their work day, picking up the kids or rushing to an afternoon gym session. 'We're seeing a clear pattern where scammers are striking later in the day, most commonly on Tuesday afternoons, when people are multi-tasking and not paying close attention to the signs that something could be a scam,' Mr Young said. Mr Young said Australians were more likely to avoid suspicious messages in the morning, but let down their guards by the afternoon. 'That's the window scammers are counting on, and this is why it's so important for people to stay alert and take a moment to think before clicking links, sharing information or sending money,' he said. Mr Young said scammers could have a devastating impact on people's lives and urged Australians to remain vigilant. 'I would encourage everyone to keep their eyes peeled for scam activity and if you suspect you've been impacted, tell the bank immediately,' he said. 'The earlier we're notified, the sooner we're able to try and help.'
Yahoo
5 hours ago
- Business
- Yahoo
The time you're most likely to get scammed
Australians are being warned to double-check any messages they receive in the afternoon, as new data reveals scammers are most likely to strike at the busy end of the day. The figures released by Westpac show scammers will most likely be successful on a Tuesday at 4pm. Remote access scams are the most common way Aussies are being ripped off, while another 20 per cent are falling for fake investment opportunities and 13 per cent for buying and selling scams. While Australians are most likely to be targeted on near 4pm on a Tuesday, they are most likely to fall victim on a Thursday, with the majority of scams occurring after lunchtime during the week. Westpac head of fraud prevention Ben Young said Aussies were at their most vulnerable at this time as they were distracted while finishing their work day, picking up the kids or rushing to an afternoon gym session. 'We're seeing a clear pattern where scammers are striking later in the day, most commonly on Tuesday afternoons, when people are multi-tasking and not paying close attention to the signs that something could be a scam,' Mr Young said. Mr Young said Australians were more likely to avoid suspicious messages in the morning, but let down their guards by the afternoon. 'That's the window scammers are counting on, and this is why it's so important for people to stay alert and take a moment to think before clicking links, sharing information or sending money,' he said. Mr Young said scammers could have a devastating impact on people's lives and urged Australians to remain vigilant. 'I would encourage everyone to keep their eyes peeled for scam activity and if you suspect you've been impacted, tell the bank immediately,' he said. 'The earlier we're notified, the sooner we're able to try and help.' Error while retrieving data Sign in to access your portfolio Error while retrieving data
Fast Company
19 hours ago
- Fast Company
The evolution of digital identity: Beyond device fingerprinting
Imagine a world where your identity isn't defined by a password or a fingerprint scan, but by the invisible trail you leave as you move through life: the coffee shops you frequent, the rhythm of your typing, even the way you hold your phone. This isn't science fiction. It's the next chapter in digital identity, where verification evolves from static snapshots to living, breathing narratives. As fraudsters weaponize AI and deepfakes, the race is on to build systems that don't just authenticate what you are, but how you exist in the world. The stakes have never been higher. Traditional defenses like passwords, device fingerprints, and even biometrics are being outpaced by fraud farms that rotate devices weekly and spoof locations with military-like precision. The solution to the identification conundrum lies in rethinking identity itself: not as a fixed marker, but as a dynamic story written across time, space, and behavior. THE FALL OF STATIC IDENTIFIERS Early digital identity systems treated verification like a Polaroid, a momentary snapshot of device specs or IP addresses. But just as DNA eclipsed fingerprinting in forensics, modern fraud demands deeper insights. Traditional methods like device fingerprints and biometric checks are increasingly inadequate. Device fingerprints falter as fraudsters reset hardware or utilize virtual machines, with data indicating a staggering 70% evasion rate through weekly device rotations. Biometric spoofing, now easily executed with AI-generated deepfakes, bypasses liveness checks in 92% of instances. Moreover, behavioral anomalies, such as simultaneous logins from New York and Lagos with valid credentials, often slip through detection systems unnoticed. As fraud techniques grow more sophisticated, the need for robust, adaptive, and real-time fraud alerts becomes ever more critical. And analysts are beginning to realize that continuity matters more than any single data point: Do login locations align with historical movement? Does typing cadence match past behavior? Is the device's 'digital DNA' consistent across sessions? These questions redefine security as a longitudinal puzzle, not a one-time checkbox. THE RISE OF AMBIENT AUTHENTICATION Today's most advanced fraud prevention systems don't rely on any single signal. Instead, they weave together multiple data points into a persistent thread of identity. Location intelligence, for instance, now operates with apartment-level precision, allowing platforms to tie devices to specific real-world addresses. This helps detect anomalies, like delivery drivers who 'teleport' between distant cities, or accounts that cluster in known fraud farms. Behavioral biometrics add another layer by analyzing subtle user-specific patterns—such as the pressure used to grip a phone during a selfie or the angle it's held while scrolling. These dynamic traits evolve naturally and are nearly impossible to spoof at scale. Cross-device binding further strengthens identity validation by linking smartphones, laptops, and even Internet of Things (IoT) connected devices through shared network fingerprints. When a user's phone, TV, and car all connect through the same home router, it forms a web of corroborating signals that's hard to fake. The result is a dramatic improvement in both security and user experience. THE FUTURE IS INVISIBLE Looking ahead, digital identity will increasingly dissolve into the background as a silent, adaptive guardian that works in sync with our daily lives. As it does so, it will be shaped by three trends. First, AI-powered threat detection is becoming remarkably sophisticated, analyzing everything from typing cadence to geographic movement to detect anomalies. By cross-referencing biometrics, device metadata, and behavioral history, advanced systems can flag synthetic identities and stop account takeovers before they cause damage. Second, decentralized identity solutions are giving users more control over their data. Enabled by blockchain, these systems allow individuals to verify traits, such as age or citizenship, without exposing sensitive personal details. Governments are taking note: The EU's eIDAS 2.0 framework mandates interoperable digital wallets for cross-border use by 2026, and in the U.S., the Department of Homeland Security is backing mobile driver's licenses (mDLs) as a secure, decentralized form of verification. Third, privacy-enhancing technologies are gaining traction in response to tighter regulations and growing user concerns. GDPR-compliant tools like zero-knowledge proofs make it possible to verify information without revealing it, balancing compliance with user trust. These innovations close security gaps and improve the user experience. Traditional ID checks introduce friction and lead to high abandonment rates. In contrast, AI-driven workflows reduce verification time, while ambient authentication slashes false positives and account takeovers (ATOs) dramatically. As digital identity becomes more adaptive and transparent, the trade-off between security and convenience starts to disappear. As identity shifts from a checkpoint to a story told in motion, the winners won't be those who build higher walls, but those who design systems smart enough to recognize us without asking. This shift demands a new mindset: one that prioritizes continuity over credentials, and patterns over passcodes. In a world of deepfakes and disposable devices, it's not who you say you are that matters—it's how you move through the world that proves it.
Yahoo
19 hours ago
- Business
- Yahoo
Conduent Expands Deployment of EBT Solutions to Prevent Fraud and Improve Customer Experiences Across U.S. States
Lock/Unlock Feature Now Live in 12 States to Help Safeguard SNAP Benefits FLORHAM PARK, N.J., July 22, 2025--(BUSINESS WIRE)--Conduent Incorporated (Nasdaq: CNDT), a global technology-driven business solutions and services company, announced the continued deployment of its Electronic Benefits Transfer (EBT) solutions to enhance security and the end-user experience. These enhancements include fraud prevention tools such as intelligent voice systems that detect suspicious calls, technologies enabling the planned move to EBT chip cards and mobile wallet integration, as well as a Conduent feature that locks and unlocks accounts, which is now being used in 12 U.S. states. The lock/unlock feature enables recipients of government assistance – specifically participants in the Supplemental Nutrition Assistance Program (SNAP) – to lock and unlock their EBT accounts through Conduent's ConnectEBT mobile app and cardholder portal. Benefit recipients can lock their card to block all purchases or limit the blocking to purchases outside of their home state, giving them greater control and helping to prevent unauthorized access by fraudsters. Technology Backed by Conduent's VeriSight Anti-Fraud Suite The account control feature is part of Conduent's VeriSight Anti-Fraud Suite, a set of innovative tools available to state agencies to address threats of fraud in public benefit programs. The 12 Conduent-supported states currently offering the lock/unlock functionality are Alabama, Delaware, Georgia, Indiana, Iowa, Maryland, New Jersey, Ohio, Oklahoma, Pennsylvania, South Carolina, and Virginia – with additional states expected to adopt the technology in the near future. Intelligent IVR and Real-Time Alerts Beyond account locking, Conduent's VeriSight suite includes an advanced interactive voice response (IVR) system for EBT customer service centers. The system uses behavioral analytics to detect patterns such as excessive calls from a single number, enabling real-time restrictions to prevent suspicious access attempts. Additionally, users of Conduent's ConnectEBT app can opt in to receive real-time usage alerts – empowering them to quickly detect and report potentially fraudulent activity. Future EMV Chip and Mobile Wallet Integration Meanwhile, Conduent continues to work with several states to prepare for the introduction of SNAP cards with EMV (Europay, Mastercard, and Visa) chip technology, which will further boost card security and reduce fraud risks at points of sale. The company is also poised to support state implementations of mobile wallet functionality, including Apple Pay and Google Pay, to bring added convenience and modernize benefit access. "With decades of experience in helping state agencies serve residents more effectively, operate more efficiently, and ensure that public aid goes to the intended recipients, our EBT lock-and-unlock feature is one of many solutions Conduent is delivering to combat fraud that threatens taxpayer funds," said Anna Sever, President, Government Solutions at Conduent. "Our team continues to make progress in implementing important features in more states, while also integrating AI technologies to automate processes, improve efficiency, and reduce costs, while improving service for the people who depend on these critical benefits." Conduent is a leading provider of government payment disbursements for federally funded benefit and payment card programs. The company also supports U.S. agencies with end-to-end solutions for healthcare claims processing, eligibility and enrollment, and child support administration. About ConduentConduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The Company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 56,000 associates, process expertise and advanced technologies, Conduent's solutions and services digitally transform its clients' operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients' missions in many ways including disbursing approximately $85 billion in government payments annually, enabling 2.3 billion customer service interactions annually, empowering millions of employees through HR services every year and processing nearly 13 million tolling transactions every day. Learn more at Forward-Looking StatementsThis press release, any exhibits or attachments to this release, and other public statements we make may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "estimate," "expect," "expectations," "in front of us," "plan," "intend," "will," "aim," "should," "could," "forecast," "target," "may," "continue to," "looking to continue," "endeavor," "if," "growing," "projected," "potential," "likely," "see," "ahead," "further," "going forward," "on the horizon," "as we progress," "going to," "path from here forward," "think," "path to deliver," "from here," "on track," "remain" and similar expressions (including the negative and plural forms of such words and phrases), as they relate to us, are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements other than statements of historical fact included in this press release or any attachment to this press release are forward-looking statements, including, but not limited to, statements regarding the planned adoption of technology, including all statements made under the first paragraph under the caption "Future EMV Chip and Mobile Wallet Integration" within this release. These statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, many of which are outside of our control, that could cause actual results to differ materially from those expected or implied by such forward-looking statements contained in this press release, any exhibits to this press release and other public statements we make. Important factors and uncertainties that could cause our actual results to differ materially from those in our forward-looking statements include, but are not limited to those factors that are set forth in the "Risk Factors" section, the "Legal Proceedings" section, the "Management's Discussion and Analysis of Financial Condition and Results of Operations" section and other sections in our 2024 Annual Report on Form 10-K, as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with or furnished to the Securities and Exchange Commission. Any forward-looking statements made by us in this release speak only as of the date on which they are made. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether because of new information, subsequent events or otherwise, except as required by law. Note: To receive RSS news feeds, visit For open commentary, industry perspectives and views, visit or TrademarksConduent is a trademark of Conduent Incorporated in the United States and/or other countries. Other names may be trademarks of their respective owners. View source version on Contacts Media Contact: Neil Franz, Conduent, +1-240-687-0127, Investor Relations Contact: David Chen, Conduent, ir@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Finextra
a day ago
- Business
- Finextra
Cross-Border Payments: How To Evolve From Slower, Domestic Roots
Discussing cross-border payments priorities, Damien Dugauquier, Co-Founder and CEO, iPiD and Alex Johnson, Chief Payments Officer, Nium join FinextraTV at Money 20/20 in Amsterdam. Bringing up the evolution of payments to a faster, international experience amongst a history rooted in domestic payments, Dugauquier and Johnson establish a need for better payment rails and verification services. Across the importance of reframing compliance and regulation, developing better experiences, and battling fraud, Johnson and Dugauquier emphasise the importance of a full-service unification.
