The Australian Securities and Investment Commission (ASIC) has announced the imminent introduction of a cross-industry code that will hold banks, telcos, and social media platforms responsible for scam safety and make them liable to reimburse people who lose money through […]
By tailoring screening to their risk-based approach and safely whitelisting false alerts at onboarding, Holvi has cut the time they spend remediating false positives in half.
On May 3, 2023, the UK Government published its new fraud strategy, setting out over 50 measures to reduce fraud and cybercrime by 10 percent by 2025. The Home Office said the strategy would “establish a coordinated response from the […]
On May 3, 2023, the Department of Justice (DOJ) sentenced defendant Leroy Holmes to five years in federal prison for his connection to a counterfeit card encoding scam that resulted in the fraudulent creation of nearly 600 credit cards, debit […]
On May 2, 2023, the Department of Justice (DOJ) sentenced defendant Michael Ansezell Tolliver to ten years in prison for his connection to a COVID-19 fraud scheme that resulted in him obtaining over $1.1 million in Paycheck Protection Program (PPP) […]
In the US alone, it is estimated that losses related to account takeover fraud (ATO) amounted to $11bn in 2021, representing a 90 percent increase from 2020. In our 2023 global compliance survey, 39 percent of respondents said the type […]
Chargeback fraud occurs when a customer submits a transaction dispute with their payment provider for illegitimate – even dishonest – reasons. The consequences of fraudulent chargebacks can include unnecessary costs to firms, as well as enabling certain forms of illicit […]
The Automated Clearing House (ACH) network is a way of transferring money from one bank account to another. Supporting both credit and debit transfers, payments and withdrawals are sent to the clearing house where they await authorization before arriving at […]
E-commerce has become indispensable to retail frameworks around the world, providing customers and businesses with a flexible shopping experience that can save both time and money. However, high return rates are becoming an increasing challenge, creating additional costs and complexities […]
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