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July 22, 2017

Fraud & Identity Today Week in Review: Kount, Nok Nok Labs, Reserve Bank of India

Welcome to the week in review, where we take a look at all the top stories making headlines in the mobile fraud space this week.

The week started off with an overview of a new report from Kount. The Mobile Payments & Fraud Survey 2017 was based on surveys of 800 merchants and found that merchants are becoming more confident about the value and security offered by mobile payment solutions. However, merchants have still been slow to adopt mobile wallet technology. Find out why HERE.

Next up, the Reserve Bank of India has provided guidelines on how to react when they notice unauthorized transactions on their financial statements. In a time when online and mobile hacks occur on a daily basis, these guidelines should prove to be more than useful. TMC’s Paula Bernier goes through all of the suggested precautions HERE.

Meanwhile, Nok Nok Labs made some moves of its own in the security space. The company, which is an innovator in the modern authentication space and a founding member of the Fast Identity Online (FIDO) Alliance, recently announced that it has raised $8 million in Series D financing. The funding round was led by Motorola Solutions Venture Capital, and all existing NNL investors participated in the financing. Everything you need to know is HERE.

Finally, the week rounded out with a look at the growing SIM swap fraud problem. The U.S. Fair Trade Commission reports that there were 2,658 incidents of SIM swap identity fraud in January of last year. Fraudsters have several ways to get ahold of victims’ phones and SIMs, and Paula Bernier goes over all of these methods HERE.

That’s all for this week. Come back next week to read all the latest fraud-related news.

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