A record number of Americans experienced identity fraud in 2017, that represents an 8 percent increase from 2016; according to a study by Javelin 16.7 million people were hit by identity fraud; the rate of increase for identity fraud has slowed from 2016 but Americans that were notified about a breach also went up 30 percent; fraud prevention has become one of the main topics in fintech and banking as companies look to leverage new technologies like AI and blockchain for solutions. Source.
A husband and wife from Sri Lanka were arrested in Canada for fraud and money laundering; the couple reportedly used fraudulent checks and synthetic identities for fraudulent charges and purchases; both are charged with fraud of CAD5,000 ($3,729) and possession of proceeds obtained of over CAD5,000 ($3,729); the fraudulent charges are an example of the emergence of sophisticated synthetic identities that are more difficult to be detected by fraud prevention systems. Source
The CFPB asked for more details on which companies consumers use to obtain a free credit score; the agency is looking to help consumers better understand their credit scores and how to potentially improve them; they also want to understand how behavior changes after seeing a free credit score; comments are due by February 12, 2018. Source.
The use of cryptocurrencies has given greater financial security to users who live in countries where their currency is depreciating.
To deliver top-notch service, companies must understand their network operations, identifying problems before they escalate into outages.
Affirm (NASDAQ: AFRM) today announced the launch of two significant additions to its product suite: the Affirm SuperApp and Chrome browser extension.
Tiger Global is having a year. Losses of about $17 billion represent one of the biggest dollar declines for a hedge fund in history.
The funding followed by Dragoneer, Monashees, and Atlantico is one of the largest Series A rounds ever received by a Latin American insurtech
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- Fintech as a gateway for criminal enterprise
- Reliamax’s Michael VanErdewyk: ‘We’re seeing a move towards more private student loans’
- U2 Frontman Bono Directs Investment Fund into FinTech
- KBRA Assigns Preliminary Ratings to Marlette Funding Trust 2018-1
- Lending Marketplace Lendix Raises €200 Million Institutional Financing to Trailblaze European Alternative SME Finance
- Zopa to launch income verification tool using Open Banking
Recent interest in super apps in the US is misguided, driven by an incorrect definition of what a super app is and a misconception about consumer behavior and attitudes.