Mastercard says it is helping banks to stop payment scams in their tracks, before funds leave a victim’s account. The payments provider said that in partnership with UK banks including Lloyds Bank, Halifax, Bank of Scotland, NatWest, Monzo and TSB, it is using payments data to help identify payment scams. Mastercard’s new tool helps banks to get an instant rating that shows the risk of a payment being made to a fraudulent account. This is based on factors such as account activity and the relationship between the payer and payee. Ajay Bhalla, president of cyber and intelligence at Mastercard, said: “We are helping banks identify and predict which payments are being made to fraudsters and stop them in real-time.” Spotting fraudulent payments among millions made every day is like finding a needle in a haystack Paul Davis, TSB Over four months, TSB said that Mastercard’s tool has increased its fraud detection. Paul Davis, director of fraud prevention at TSB, said: “Spotting fraudulent payments among millions made every day is like finding a needle in a haystack, with scams becoming ever more complex – so prevention and monitoring tools are key. “Our partnership with Mastercard is providing the intelligence needed to identify fraudulent accounts and prevent payments ever reaching them.” The Financial Ombudsman Service recently said it is seeing a higher proportion of complex scam complaints, with some involving investments or cryptocurrency. It is seeing increasing numbers of complaints which contain the features of more than one scam. For example, someone may be duped by a romance scammer who then persuades them to invest in cryptocurrency schemes which do not exist. Or someone may attempt to pay for goods which do not exist and then receive a phone call from a scammer impersonating their bank who persuades them to make multiple payments by claiming their payment attempts have been unsuccessful. Many banks are currently signed up to a voluntary reimbursement code in cases where blameless scam victims transfer money to a fraudster, but there have been concerns about this not always being applied consistently. TSB has its own fraud refund guarantee. Plans are under way to make reimbursement mandatory. The Payment Systems Regulator (PSR) has said new rules compelling banks to reimburse scam victims who have been tricked into paying fraudsters will come into force next year. Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live Art historian helps build new Assassin’s Creed game after son’s suggestion Twitter to stop TweetDeck access for unverified users Broadband customers plagued by issues despite inflation-busting price hikes

NEW YORK--(BUSINESS WIRE)--Sep 7, 2023--

Apple has finally unveiled a new improvement to its autocorrect feature, much to the enjoyment of expletive lovers. On Monday (6 June), the tech company announced a number of software updates will soon be available to iPhone users as part of Apple’s new iOS 17 operating system. While speaking at Apple’s Worldwide Developers Conference in California, senior vice president of software engineering Craig Federighi shared that Apple will also upgrade the autocorrect feature that annoyingly changes one of the most common swear words to “ducking”. “In those moments where you just want to type a ducking word, well, the keyboard will learn it, too,” he said. The upgraded autocorrect feature will be assisted by artificial intelligence (AI). According to TechCrunch, the “Transformer” AI model will accurately predict the next words and phrases iPhone users might send. Over time, the new autocorrect feature will learn to predict words that are used most frequently, including swear words. The autocorrect change is expected to drop alongside Apple’s new iOS 17, which is expected to be available as a public beta in July and a general release to come out in September. Autocorrect has been a longstanding feature of Apple products, automatically substituting corrections for mistakes in spelling or grammar. But the “ducking” substitution has long been a source of annoyance for those who’ve had to rewrite texts, particularly when they may already be wanting to express a degree of frustration. The autocorrect feature wasn’t the only upgrade Apple announced at its WWDC event on Monday. In iOS 17, iPhones will also come with new mental health features, in the form of a journal and mood tracking tools that will integrate with the Health app. The Sensitive Content Warning feature will warn adult users about nude photos and videos with a pop-up asking if they want to see the content, and the new “Check In” lets users tell friends or family members they’ve reached their destination safely. Perhaps the biggest announcement was the company’s new $3,499 (£2,800) Vision Pro headset, which combines virtual reality and augmented reality using its own software – VisionOS. The new virtual reality headset will allow people to see apps projected on top of the room around them, allowing apps to be “freed from the confines of a display”. The headset is made with glass on the front and inside, as well as an aluminium frame and a soft band that wraps around the head. Vision Pro users will be able to sit in their living room, for example, and see their apps projected in front of them, on top of their coffee table, or while doing the dishes. The Apple Vision Pro headset won’t be available to purchase until early 2024. Read More Apple Vision Pro – latest: ‘Revolutionary’ $3,499 VR headset heralds ‘new era’ iOS 17: Apple lets users get iPhone update and other new operating systems early iOS 17 release date and compatibility: When Apple will release new iPhone, iPad and Mac updates – and which will get it Apple lets people get brand new iPhone update early – but there’s a very big warning The price of Apple’s Vision Pro headset is truly out of this world The glaring omission from Apple’s AR headset launch

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