UAE retail sector is losing millions on payments fraud, report finds
The retail sector globally lost $429 billion to fraud in 2023 while in the UAE, businesses on average encountered losses of approximately AED 11 million.
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by Mark Dowdall | Apr 23, 2024
The retail sector globally lost $429 billion to fraud in 2023 while in the UAE, businesses on average encountered losses of approximately AED 11 million.
Read Moreby Mark Dowdall | Apr 9, 2024
The UK retail sector is losing billions to payment fraud annually, new research from global fintech platform Adyen has revealed.
Read Moreby Mark Dowdall | Feb 14, 2024
Facephi has expanded the availability of its identity verification solutions to Temenos Exchange, an open marketplace which offers pre-integrated and approved fintech solutions.
Read Moreby Mark Dowdall | Feb 5, 2024
By deploying the Silent Eight platform, Emirates NBD is aiming to reduce reliance on human investigators, lower operational costs and minimise delays and requests for information caused by false positive alerts.
Read Moreby Mark Dowdall | Nov 20, 2023
So far, 2023 has seen record-high costs due to data breaches in the Middle East, with finance ranking as the most targeted sector. Kingston Technology Europe is calling on banks and investment firms to be more pre-emptive in their approach to data security.
Read Moreby Mark Dowdall | Sep 8, 2023
The latest Visa research into global fraud showcases a significant rise of phishing schemes through generative AI tools, and a marked increase in enumeration and ransomware.
Read Moreby Mark Dowdall | Aug 18, 2023
Online risk intelligence specialist Riskified has partnered with Mastercard to mitigate the threat of fraud and chargebacks for e-commerce businesses.
Read Moreby Mark Dowdall | Jun 23, 2023
The deepfake fraud detector integrates into Sumsub’s liveness solution which detects spoofing attempts while authenticating real users in seconds.
Read Moreby Mark Dowdall | May 29, 2023
The European Central Bank (ECB) has published its latest card fraud report, revealing a continued downward trend in card fraud based on information provided by 20 card payment scheme operators.
Read Moreby Mark Dowdall | May 12, 2023
Over £1.2 billion was stolen by criminals through authorised and unauthorised fraud in 2022, new...
Read Moreby Mark Dowdall | May 2, 2023
Clear progress is being made in how companies are acting on cybersecurity threats, yet attacks are...
Read Moreby Mark Dowdall | Apr 26, 2023
As part of the deal Authsignal has added iProov’s Biometric Solution Suite into its fraud prevention orchestration platform
Read Moreby Mark Dowdall | Mar 21, 2023
Mastercard’s ID app was created to give consumers more choice in how they prove their identity for things such as making a purchase.
Read Moreby Mark Dowdall | Feb 15, 2023
The new software will allow the cardholder to securely skip cumbersome multi-step processes and switching between apps to pay.
Read Moreby Mark Dowdall | Feb 12, 2023
The partnership will aim to detect potential frauds for Brankas’ Open Finance Products such as Brankas Direct or Statement.
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