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with CEO Victor Iezuitov, and Casey Potenzone, chief
strategy officer, were at the center of several offshore
tech support scams. Those scams netted tens of Unlock Your
millions of dollars in credit and debit card payments
for bogus computer repairs.

Deep fake lending fraud is real, researchers warn Growth Potential
a survey of 147 bank, credit union, fintech lenders and With a BCP Loan
Lenders have seen an uptick in SMB lending fraud,
according to a LexisNexis Risk Solutions study. Based on

payment processing risk managers between September
and October 2022, researchers found an average year-
over-year increase of 14.5 percent in SMB lending
fraud, up from 6.9 percent the previous year.

Tom Hunt, director of business risk strategy at
LexisNexis Risk Solutions, noted the study attempted
to identify different types of SMB lending fraud and
various approaches to identifying, tracking and
combating malicious activities.

"The study shows that lenders using a multi-layered
anti-fraud approach that integrates anti-fraud measures
with digital channel operations can be more effective
at detecting and mitigating fraud and its costs early,"
he said "This also includes solutions that assess both
the physical and digital identity attributes, as well as
the risk of the transaction itself.

Best practice fraud detection and mitigation involves a
layering of complementary solutions to address unique
risks from different channels, payment methods and
products to address every touchpoint across the
customer journey."
Payments apps lean into generative AI

Whether you're solving financial crime or searching
for the right marketing lingo, AI-powered solutions
support a range of payments industry sectors. And
some payments industry leaders are suggesting that
OpenAI will fully inhabit the workplace in the near
future, coexisting with Microsoft Office, email servers
and business management software. BOCA

SymphonyAI, an enterprise AI SaaS provider, disclosed CAPITAL
that it will partner with Microsoft to enhance its suite of PARTNERS
vertically focused AI software solutions by leveraging
the Microsoft Azure OpenAI service.
Get a loan from $100,000 to
The companies jointly shared near-term plans with
media, stating the partnership will expand capabilities
while offering advanced protection, security and a $5,000,000 for your ISO today
seamless user experience. Sanjay Dhawan, CEO of
SymphonyAI, pointed out that augmenting applications
with generative AI will streamline workflows and
reduce menial labor, allowing workers to focus on Call Now: 844-531-4957
high-value tasks.
bocacapitalpartners.com

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