Fintech PR
North America sees social engineering scams multiply by a factor of 10
Money laundering accounts increase 94%; GenAI tools and deepfake threats growing
NEW YORK, Nov. 13, 2024 /PRNewswire/ — New research released today shows North American financial institutions fielded 10 times more reports of social engineering scams in 2024 than they did a year ago. The data shows scams now represent 23% of all digital banking fraud. BioCatch – the global leader in digital fraud detection and financial crime prevention powered by behavioral biometric intelligence – published these findings in its 2024 Digital Banking Fraud Trends in North America report, which also details a staggering 94% uptick in reported money mule (or money laundering) accounts.
“Reports of North American mule accounts have almost doubled in the last year,” BioCatch Director of Global Fraud Intelligence Tom Peacock said. “This not only hints at the massive scope and scale of the money mule problem plaguing the world’s financial institutions but also – more hopefully – the positive steps North American banks have taken in the last year to identify these laundering accounts.”
BioCatch’s new report also highlights the growing threats posed by GenAI tools and deepfakes, which in the hands of fraudsters allow them to launch a greater quantity of more sophisticated attacks that are more difficult to detect and prevent.
“As we outlined in our 2024 AI, Fraud, and Financial Crime Survey and ScamGPT white paper, artificial intelligence is super-charging fraud,” BioCatch Global Advisory Director Seth Ruden said, “compounding its impact, and allowing bad actors to scale and sophisticate their scams with deepfakes and other devices. As the industry deploys the newest authentication methods in both account opening and account takeover processes, fraudsters will undoubtedly attack these as well.”
Other key report findings:
- A win for banks: Account-opening fraud declined by nearly 60% in the last year, as banks implemented additional controls, such as behavioral biometric intelligence.
- hony checks and balances: Check and deposit fraud volumes tripled in the last year. As banks have made it more difficult for fraudsters to create new accounts, these bad actors have changed their tactics, devoting more attention to deposit fraud on existing accounts.
- Cut-and-paste red flags: BioCatch saw the copying and pasting of login credentials in nearly 30% of all fraud cases and in less than 1% of legitimate banking sessions.
- Device intel insufficient: Nearly a quarter of all unauthorized fraud in North America takes place on trusted devices.
The massive uptick in reported scams also presents another challenge for banks on the customer service front. The Emotional Undercurrent of Scams, a study conducted by Javelin Strategy & Research and sponsored by BioCatch, highlights the human side of fraud and the devastating impact on scam victims following an attack.
“More than half of those surveyed said they’d lost trust in people and suffered emotional stress after falling victim to a scam,” Javelin Strategy & Research Senior Analyst Suzanne Sando said. “Nearly one in five victims said their loss disrupted their family life. As these scams grow more prevalent and sophisticated, a data-driven approach that combines historical account data as well as behavioral and device intelligence is critical to stopping scams in real-time and saving victims and banks from significant losses.”
Click here to access BioCatch’s complete 2024 Digital Banking Fraud Trends in North America report.
About BioCatch:
BioCatch stands at the forefront of digital fraud detection, pioneering behavioral biometric intelligence grounded in advanced cognitive science and machine learning. BioCatch analyzes thousands of user interactions to support a digital banking environment where identity, trust, and ease coexist. Today, 34 of the world’s largest 100 banks and 237 total financial institutions rely on BioCatch Connect™ to combat fraud, facilitate digital transformation, and grow customer relationships. BioCatch’s Client Innovation Board – an industry-led initiative featuring American Express, Barclays, Citi Ventures, HSBC, and National Australia Bank – collaborates to pioneer creative and innovative ways to leverage customer relationships for fraud prevention. With more than a decade of data analysis, 93 registered patents, and unmatched expertise, BioCatch continues to lead innovation to address future challenges. For more information, please visit www.biocatch.com.
PR contact:
Mac King
BioCatch senior comms manager
[email protected]
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View original content:https://www.prnewswire.co.uk/news-releases/north-america-sees-social-engineering-scams-multiply-by-a-factor-of-10-302303663.html
Fintech PR
J&T Express Exceeds 100 Million Global Parcels Handled in a Single Day During Double 11, Driven by Strong Growth Across Multiple Regions
HONG KONG, Nov. 14, 2024 /PRNewswire/ — J&T Global Express Limited (“J&T Express” or “J&T” or “the Company”, stock code: 01519), a global logistics service provider, announced a new milestone in its growth trajectory, surpassing 100 million parcels handled worldwide in a single day during this year’s Double 11 shopping festival on November 12th.
Double 11 is a traditional peak season for China and Southeast Asia. From October 20 to November 12, J&T Express saw significant growth in parcel volume in both markets. In China, the daily average parcel volume during this period reached nearly 66 million, a 25% year-over-year (“YoY”) increase, setting a new record. In Southeast Asia, the daily average parcel volume from November 1 to 11 exceeded 15 million, marking an impressive 73% YoY growth.
In anticipation of the expected surge in parcel volumes during the multiple year-end shopping festivals, J&T Express implemented early preparations across various markets, increasing investment in infrastructure and human resources to ensure operational efficiency and service quality. In China, based on business forecasts and actual production needs, J&T upgraded and renovated 32 sorting centers nationwide, expanding operating areas and improving timeliness. Over 600 distribution hubs and outlets were also upgraded across the country, with over 400 sets of automated equipment deployed to enhance operational capacity and effectively manage the peak parcel volume.
Benefiting from the vast growth potential of Southeast Asian markets and close collaboration with e-commerce clients, J&T Express anticipated the increase in e-commerce parcel volume during Double 11 and made proactive preparations. In September and October, J&T Express Vietnam deployed over 300 trucks, and the company constructed its largest sorting center in North Vietnam, equipped with advanced operating technology and equipment, which officially commenced its operations. This center boasts a parcel handling accuracy rate of 99.99%, significantly enhancing operational efficiency.
In Thailand, J&T Express upgraded four sorting centers and five distribution hubs, adding over 13 sets of automated equipment to boost operational capacity. As a result, the peak processing capacity of sorting centers increased by approximately 25%, and the distribution hubs saw a 20% improvement. Furthermore, J&T Express Thailand expanded its sorting area by approximately 19,000 square meters, added over 900 transport vehicles, and recruited over 3,800 personnel to meet the growing demand of sorting, delivery, and customer service sectors.
In other new markets, Black Friday (November 29th) marks the largest logistics peak season in Latin America. J&T Express has observed a significant upward trend in parcel volumes in Brazil and Mexico. To address the upcoming peak, J&T Express in both countries has proactively invested in infrastructure and human resources, upgrading automated equipment to meet the high-quality express service demands of both clients and consumers.
“J&T Express exceeding 100 million global parcels handled in a single day during Double 11, setting a historic record, demonstrates our robust operational capabilities and unwavering commitment to serving our global customers,” said Charles Hou, Vice President of J&T Express. “We will continue to invest in infrastructure and resource allocation across various markets, focusing on network optimization and service enhancement to ensure efficient and reliable logistics services for global users during peak seasons, meeting the ever-growing global market demands.”
About J&T Express
J&T Express is a global logistics service provider with leading express delivery businesses in Southeast Asia and China, the largest and fastest-growing market in the world. Founded in 2015, J&T Express’ network spans thirteen countries, including Indonesia, Vietnam, Malaysia, the Philippines, Thailand, Cambodia, Singapore, China, Saudi Arabia, the UAE, Mexico, Brazil and Egypt. Adhering to its “customer-oriented and efficiency-based” mission, J&T Express is committed to providing customers with integrated logistics solutions through intelligent infrastructure and digital logistics network, as part of its global strategy to connect the world with greater efficiency and bring logistical benefits to all.
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View original content:https://www.prnewswire.co.uk/news-releases/jt-express-exceeds-100-million-global-parcels-handled-in-a-single-day-during-double-11-driven-by-strong-growth-across-multiple-regions-302305469.html
Fintech PR
Precision Meets Power: Vantage Marks 15 Years with New Anniversary Video, “The Ultimate Trading Machine”
PORT VILA, Vanuatu, Nov. 14, 2024 /PRNewswire/ — Celebrating 15 years of excellence, leading multi-asset broker Vantage Markets (or “Vantage”) has launched a video titled “The Ultimate Trading Machine*”, a tribute to 15 years of innovation, precision, and the relentless pursuit of empowering traders globally. The video encapsulates Vantage’s journey and reflects the bold, ambitious spirit of the brand.
“In the pursuit of excellence, precision and speed are everything,” the video states. For 15 years, Vantage has been at the forefront of innovation, continuously evolving to meet the needs of traders. From launching tools like the proprietary mobile app and Copy Trading platform, to integration with TradingView. In a latest assessment done by Investing.com, Vantage emerged top across multiple key metrics, including leverage, spread value, spread stability, no-slippage rate, market depth, and swap competitiveness, conducted during one of the most volatile periods – the U.S. elections. Vantage has consistently set new standards, solidifying its position as a global leader in online trading.
Since its inception, the company has secured licences in the UK, Australia, South Africa, the Cayman Islands, and Vanuatu, establishing itself as a trusted and regulated broker. Through the years, Vantage has been committed to being a model brand for traders, forging partnerships with esteemed organisations such as NEOM McLaren Extreme E, UNESCO, and UNHCR, ensuring that it contributes positively to society as well.
“For 15 years, Vantage has fueled ambition with tools that empower traders to unlock their full trading potential,” said Marc Despallieres, Chief Strategy and Trading Officer. “The Ultimate Trading Machine’ isn’t just a tagline—it’s our dedication to precision and progress.”
Geraldine Goh, Chief Marketing Officer, added, “This video captures Vantage’s journey—15 years of innovation, ambition, and dedication to empowering traders. Our goal is to inspire traders to aim higher, knowing Vantage will always be there, pushing the limits alongside them.”
Vantage’s journey continues with a focus on setting new industry standards, delivering cutting-edge features, and empowering traders to succeed.
Experience Vantage’s 15-year journey and see “The Ultimate Trading Machine” in action here.
Learn more about Vantage’s 15 anniversary here.
About Vantage
Vantage Markets (or Vantage) is a multi-asset CFD broker offering clients access to a nimble and powerful service for trading Contracts for Difference (CFDs) products, including Forex, Commodities, Indices, Shares, ETFs, and Bonds.
With over 15 years of market experience, Vantage transcends the role of broker, providing a trusted trading ecosystem, an award-winning mobile trading app, and a user-friendly trading platform that empowers clients to seize trading opportunities. Download the Vantage App on App Store or Google Play.
trade smarter @vantage
RISK WARNING: CFD trading carries significant risks. You could lose more than your initial investment.
*’The Ultimate Trading Machine’ is a marketing term and does not imply guaranteed performance.
Video – https://www.youtube.com/watch?v=kjVl3_n4qIQ
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View original content:https://www.prnewswire.co.uk/news-releases/precision-meets-power-vantage-marks-15-years-with-new-anniversary-video-the-ultimate-trading-machine-302304350.html
Fintech PR
Vantage Australia Celebrates 15 Years of Trading Innovation with Groundbreaking Anniversary Video
SYDNEY, Nov. 14, 2024 /PRNewswire/ — Celebrating 15 years of excellence, leading multi-asset broker Vantage Markets (or “Vantage”) has launched a video titled “The Ultimate Trading Machine*”, a tribute to 15 years of innovation, precision, and the relentless pursuit of empowering traders globally. The video encapsulates Vantage’s journey and reflects the bold, ambitious spirit of the brand.
“In the pursuit of excellence, precision and speed are everything,” the video states. For 15 years, Vantage has been at the forefront of innovation, continuously evolving to meet the needs of traders. That includes launching tools like the proprietary mobile app and integration with TradingView. In the latest assessment done by Investing.com, Vantage emerged top across multiple key metrics, including leverage, spread value, spread stability, no-slippage rate, market depth, and swap competitiveness, conducted during one of the most volatile periods – the U.S. elections. Vantage has consistently set new standards, solidifying its position as a global leader in online trading.
Since its inception, Vantage has secured licences in the UK, Australia, South Africa, the Cayman Islands, and Vanuatu, establishing itself as a trusted and regulated name in the industry. Through the years, Vantage has been committed to being a model brand for traders, forging partnerships with esteemed organisations such as NEOM McLaren Extreme E, UNESCO, and UNHCR, ensuring that it contributes positively to society as well.
Jack Kelly, Head of Sales, Vantage Australia, said, “Celebrating 15 years of Vantage is not just about looking back at our accomplishments, but about recognising the collective ambition and dedication of our traders and team. This milestone video encapsulates our journey towards setting new standards in trading innovation and customer experience. As we continue to push the limits of what’s possible, we remain committed to empowering our traders with the tools and support they need to thrive in the fast-evolving market.”
Vantage’s journey continues with a focus on setting new industry standards, delivering cutting-edge features, and empowering traders to succeed.
Experience Vantage’s 15-year journey and see “The Ultimate Trading Machine” in action here.
Learn more about Vantage’s 15 anniversary here.
About Vantage
Vantage Markets (or Vantage) is a multi-asset broker offering clients access to a nimble and powerful service for trading Forex and Contracts for Difference (CFDs) products on, Commodities, Indices, Shares, ETFs, and Bonds.
With over 15 years of market experience, Vantage transcends the role of broker, providing a trusted trading ecosystem, an award-winning mobile trading app, and a user-friendly trading platform that empowers clients to seize trading opportunities. Download the Vantage App on App Store or Google Play.
trade smarter @vantage
|
Vantage Global Prime Pty Ltd (ACN 157 768 566) (“Vantage”), located at 12/15 Castlereagh Street, Sydney, NSW, Australia, 2000, and is authorised and regulated by the Australian Securities & Investments Commission (ASIC) AFSL no. 428901.
Trading derivatives carries significant risks. It is not suitable for all investors and if you are a professional client, you could lose substantially more than your initial investment. When acquiring our derivative products, you have no entitlement, right or obligation to the underlying financial assets. Past performance is no indication of future performance and tax laws are subject to change. The information on this website is general in nature and doesn’t take into account your personal objectives, financial circumstances, or needs. Accordingly, before acting on the advice, you should consider whether the advice is suitable for you having regard to your objectives, financial situation and needs. We encourage you to seek independent advice if necessary. You should consider whether you’re part of our target market by reviewing our Target Market Determination (TMD), reading our Product Disclosure Statement (PDS), and other legal documents to ensure you fully understand the risks before you make any trading decisions. We encourage you to seek independent advice if necessary. * ‘The Ultimate Trading Machine’ is a marketing term and does not imply guaranteed performance. |
Video – https://www.youtube.com/watch?v=Tj6BCemLANY
Logo – https://mma.prnewswire.com/media/2506103/Vantage_15_Logo_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/vantage-australia-celebrates-15-years-of-trading-innovation-with-groundbreaking-anniversary-video-302305344.html
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