ClickCease

Prove Fraud & Cybercrime Executive Advisor Mary Ann Miller on Business Insider | It's becoming increasingly clear that fintech has a fraud problem

I recently spoke with Bianca Chan of Business Insider about fintech’s growing fraud problem. This is a topic that continues to rear its ugly head and Chan’s article delves into a recent report alleging widespread fraud on Cash App but also analyzes the fintech industry’s overall fraud problem. As I mention in the article, start-ups have an impetus to grow at breakneck speeds in order to appease investors. Unfortunately, some companies can achieve this growth by cutting corners when it comes to fraud prevention. 

Read the full story here.

Tags:
fraud

Keep reading

See all blogs
Read the article: Prove Launches Unified Authentication Solution with Passive, Persistent Customer Recognition
Company News
Prove Launches Unified Authentication Solution with Passive, Persistent Customer Recognition

New solution delivers measurable ROI by replacing SMS OTPs and mitigating SIM swap fraud – cutting costs, reducing abandonment, and enabling seamless customer experiences across channels.

Company News
Read the article: A Watershed Moment for Digital Banking: FDIC's New Stance on Pre-Filled Data Paves the Way for a Safer, Faster Future
Blog
A Watershed Moment for Digital Banking: FDIC's New Stance on Pre-Filled Data Paves the Way for a Safer, Faster Future

In this blog, we detail how the FDIC's new guidance, influenced by Prove's advocacy, allows banks to use pre-filled customer data for CIP. This change, empowering solutions like Prove Pre-fill®, significantly reduces friction, enhances security, and improves financial inclusion in digital banking by streamlining account opening and combating fraud.

Blog
Read the article: The Anatomy of a Systemic Failure: The U.S. Banking System as a Conduit for Transnational Crime
Blog
The Anatomy of a Systemic Failure: The U.S. Banking System as a Conduit for Transnational Crime

The U.S. banking system is a conduit for transnational crime, with systemic failures in identity verification and a lack of oversight, enabling fraud and money laundering. Read Prove’s call to action for the financial industry.

Blog