Latest news with #fraudprotection
Finextra
2 days ago
- Business
- Finextra
Chargebacks911 appoints Microsoft's Donald Kossmann as CTO
Chargebacks911, a global leader in chargeback prevention and dispute management, announced Tuesday the appointment of Donald Kossmann as its new Chief Technology Officer (CTO). 0 Kossmann, a globally recognized technologist and AI pioneer, joins the company after an exceptional decade-long tenure at Microsoft, where he most recently served as Distinguished Engineer and Vice President of Business Copilot. Kossmann's arrival marks a pivotal moment for Chargebacks911, as the company continues its mission to transform the post-transaction payments ecosystem through cutting-edge artificial intelligence (AI). Possessing more than 30 years of experience in computer science, AI, data systems, and fraud protection, Kossmann brings a rare blend of academic distinction and enterprise innovation to the role. At Microsoft, Kossmann led several groundbreaking initiatives, including serving as General Manager of Fraud Protection and Managing Director of Microsoft Research's Redmond Lab. He played a key role in the development of SQL Hyperscale and Microsoft Copilot Studio —two flagship products that define Microsoft's cloud and AI strategy today. Before joining Microsoft, Kossmann was a Professor at ETH Zurich, a Visiting Professor at Stanford University, and co-founder of Teralytics AG, a Big Data startup powering behavioural insights across industries like retail, finance, and transportation. Kossmann also holds a Doctor of Philosophy in Computer Science. 'Payments are a pillar of civilization, but trust in digital transactions remains a fundamental challenge,' said Kossmann. 'Chargebacks911 is on a mission to reinvent the future of payments with AI at the core. I'm excited to roll up my sleeves and work hands-on, solving hard problems with a team that is passionate about creating secure, scalable systems for the digital economy.' Kossmann's appointment underscores Chargebacks911's commitment to advancing technology that prevents fraud, reduces friction, and restores trust between merchants and consumers. As CTO, he will spearhead the development of next-generation solutions that integrate machine learning, and real-time data intelligence across the company's global platform. 'Donald's decision to join Chargebacks911 is a resounding validation of our vision and direction,' said Monica Eaton, Founder and CEO of Chargebacks911. 'He's not just one of the top minds in AI and data systems—he's a builder, a thinker, and a leader who understands how to move fast and make a real-world impact. We're thrilled to welcome him aboard.' With Donald Kossmann at the helm of its technology strategy, Chargebacks911 is poised to redefine how the world approaches chargeback management, fraud prevention, and digital trust in commerce.
Russia Today
7 days ago
- Business
- Russia Today
Russia considers blanket credit ban for citizens
The Russian Interior Ministry is mulling the idea of a blanket ban on issuing credit to citizens as part of broader efforts to protect them from fraudsters. The proposal would require individuals to apply for personal exceptions online or through official centers, a senior official said on Friday. Deputy head of the Investigative Department Danil Filippov announced the proposal during the Positive Hack Days cybersecurity forum in Moscow. 'We already have many laws that allow citizens to voluntarily block access to credit,' he said. 'But we are putting forward a different concept – not voluntary restriction, but a total ban, with the option of individual unblocking.' Filippov said he believed Russian citizens would not oppose the measure if it helped law enforcement protect them. 'And if someone needs to get a loan or another service, they can simply press a button online and receive that service,' he added, as cited by Vedomosti. Individuals seeking to lift the credit ban would need to go through a specific procedure, according to Filippov. Citizens would be issued a warning and asked a series of questions, such as whether they were acting under the influence of third parties or intending to transfer the borrowed funds to someone else. 'And perhaps, after answering these questions, they may choose not to press that button,' he said. Currently, Russians can already impose a self-restriction on credit issuance, a service that more than 11 million people have used, according to Sergey Boyarsky, head of the State Duma's Committee on Information Policy. While Filippov acknowledged that the self-restricting option is effective and 'has demonstrated a measurable impact,' he said a full prohibition would be 'a more productive and serious step.' The ministry's proposal has not yet been formalized but reflects growing concern in Russia over the rise in cyber and financial fraud, particularly scams involving bank transfers and unauthorized lending. In 2024, financial fraud resulted in the theft of 27.5 billion rubles from Russian citizens' accounts, marking a record high, according to the country's Central Bank figures. The nation's largest lender, Sberbank, estimated that losses from telephone scams amounted to at least 295 billion rubles during the same period.
Associated Press
20-05-2025
- Business
- Associated Press
Powerhouse Southern Regional Bank Significantly Expands Partnership with Intellicheck
MELVILLE, N.Y.--(BUSINESS WIRE)--May 20, 2025-- Intellicheck, Inc. (Nasdaq: IDN), an industry-leading identity company delivering proprietary on-demand digital and physical identity validation solutions, today announced a top financial customer has signed a new high value three-year agreement. This agreement expands the initial digital use-cases to also include teller workstation transactions. The total contract value in the high seven-figure range is expected to propel this client to a top three revenue generator for the Company. The new agreement significantly expands the bank's utilization of Intellicheck's cutting-edge identity validation technology. This regional bank is now utilizing Intellicheck's technology in their more than 1,900 branches nationwide. The initial Annual Contract Value is anticipated to be a low-seven figure revenue amount paid in equal monthly installments for the first year as the product is rolled out throughout its system. The Total Contract Value is anticipated to be a high seven-figure revenue amount. The Company expects the additional contracted revenue to begin in the third quarter of 2025. Intellicheck CEO Bryan Lewis commented, 'We believe that the growth of this partnership reflects the important role our innovative technology solution delivers as it gives this bank the ability to accelerate customer acquisition and customer protection, while also enhancing bank-customer trust. Good customers benefit from the fraud protection only our unique proprietary technology can provide. We are very excited to significantly expand our relationship and lengthen the contract with this widely recognized regional bank.' Intellicheck's unique technology enables bank branch personnel to rapidly respond to requests for account changes, credit applications, and new account opening requests while at the same time stopping identity theft. Intellicheck's partner is a leading regional U.S. commercial bank. With more than $500 billion in total assets, the bank offers a wide range of consumer and commercial services through its wholesale and consumer businesses including consumer and small business banking, commercial banking, corporate and investment banking payments, and specialized lending businesses. Intellicheck provides both digital and physical identity verification solutions to industries where speed and certainty is crucial. Intellicheck's approach to proving identity is unique. It enables a frictionless customer experience that seamlessly fits into existing workflows using existing technology, scanning devices or Intellicheck's mobile app. Intellicheck's technology solutions provide a proprietary identity verification process that creates a competitive advantage for every business by facilitating rapid customer acquisition and on-going customer retention and trust at the point of service, while preventing unauthorized ID use and stopping identity-based fraud. About Intellicheck Intellicheck, the industry leader in identity verification management, prevents the unauthorized use of IDs to stop identity-based fraud. Intellicheck is the only SaaS-based validation and proofing service that uses a unique and proprietary analysis of DMV-issued IDs to create trusted, real-time customer identity verification experiences across a wide variety of sectors, both in-person and digitally. Each year, we validate around 100 million identities across North America, providing a seamless, invisible ID verification with 100% decisioning in under a second. For more information on Intellicheck, visit us on the web and follow us on LinkedIn, X, Facebook, and YouTube. Safe Harbor Statement Statements in this news release about Intellicheck's future expectations, including: the advantages of our products, future demand for Intellicheck's existing and future products, whether brand value and market awareness will grow, whether the Company can leverage existing partnerships or enter into new ones, and all other statements in this release, other than historical facts, are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA). These statements, which express management's current views concerning future events, trends, contingencies or results, appear at various places in this release and use words like 'anticipate,' 'assume,' 'believe,' 'continue,' 'estimate,' 'expect,' 'forecast,' 'future,' 'intend,' 'plan,' 'potential,' 'predict,' 'project,' 'sense', 'strategy,' 'target' and similar terms, and future or conditional tense verbs like 'could,' 'may,' 'might,' 'should,' 'will' and 'would' are forward-looking statements within the meaning of the PSLRA. This statement is included for the express purpose of availing Intellicheck, Inc. of the protections of the safe harbor provisions of the PSLRA. It is important to note that actual results and ultimate corporate actions could differ materially from those in such forward-looking statements based on such factors as: market acceptance of our products and the presently anticipated growth in the commercial adoption of our products and services; our ability to successfully transition pilot programs into formal commercial scale programs; our ability to successfully implement and monetize new and expanded relationships with clients; continued adoption of our SaaS product offerings; changing levels of demand for our current and future products; our ability to reduce or maintain expenses while increasing sales; our ability to successfully expand the sales of our products and services into new areas including health care and title insurance; customer results achieved using our products in both the short and long term; success of future research and development activities; our ability to successfully market and sell our products, any delays or difficulties in our supply chain coupled with the typically long sales and implementation cycle for our products; our ability to enforce our intellectual property rights; changes in laws and regulations applicable to our products; our continued ability to access government-provided data; the risks inherent in doing business with the government including audits and contract cancellations; liability resulting from any security breaches or product failure, together with other risks detailed from time to time in our reports filed with the SEC. We do not assume any obligation to update the forward-looking information. View source version on CONTACT: Intellicheck Media and Public Relations: Sharon Schultz (302) 539-3747/[email protected] Intellicheck Investor Relations: Gar Jackson (949) 873-2789/[email protected] KEYWORD: UNITED STATES NORTH AMERICA NEW YORK INDUSTRY KEYWORD: TECHNOLOGY MOBILE/WIRELESS FINANCE SECURITY FINTECH BANKING PROFESSIONAL SERVICES SOFTWARE INTERNET SOURCE: Intellicheck, Inc. Copyright Business Wire 2025. PUB: 05/20/2025 08:10 AM/DISC: 05/20/2025 08:09 AM
News.com.au
07-05-2025
- Politics
- News.com.au
NSW government to introduce new laws to target ‘scourge' of cybercrime fraud
The NSW government is set to bring in sweeping changes to protect people at risk of identity fraud, after Australians lost more than $2bn to cyber-scams just last year. The state government will introduce legislation on Wednesday to establish a new fraud check service that will allow government and other accredited agencies to confirm whether a person's identity document (ID) details have been stolen or compromised. It would be aimed at empowering agencies to stop criminals misusing people's details to apply for grants or credit, and underpin efforts to help residents secure their ID info and avoid scams and thefts through the work of ID Support NSW. Digital Government Minister Jihad Dib said the legislation, known as the Identity Protection and Recovery Bill, would help protect residents in NSW against cybercriminals after more than 67,000 scams were reported to ScamWatch across Australia in 2024. 'These new laws will help safeguard NSW residents against cyber criminals and the scourge of identity theft, especially when it targets our most vulnerable citizens who can least afford it,' Mr Dib said. 'By alerting people quickly and supporting them to secure their identity and replace compromised ID documents, NSW residents will be better protected from impersonation, scams and fraud. 'The new Compromised Credential Register will enable these early notifications to both individuals and agencies, and will send up a red flag when someone tries to use an ID document that has been stolen or compromised.' First launched in late 2021, ID Support NSW notifies residents when a data breach has occurred and helps them to replace any government documents. It also provides community outreach and education about identity theft, privacy, and cyber security resilience. Under the new bill, ID Support will operate as the 'core government provider of identity protection and recovery services', including setting up the Compromised Credential Register to provide a fraud check service for IDs, such as NSW driver's licences and photo cards. Once it is known an ID document has potentially been compromised - including a person's personal details, driver's license, and card number that may be on the dark web - it will be added to the register and the resident and issuing authority would then be notified.
