The Paycheck Protection Program (PPP) loans are gone. The various tranches of government aid have been exhausted, and trillions of dollars in economic aid are in the rear-view mirror. Brandon Spear, CEO of TreviPay, told Karen Webster that fraudsters, looking for new avenues of attack,...
Fraud has become a common concern for consumers, with the Federal Trade Commission (FTC) reporting recently that Americans lost more than $5.8 billion to fraud in 2021, with 2.8 million consumers filing reports. This figure is a 70% year-over-year increase in fraud compared to 2020,...
A hacker who gambled $3 million that a decentralized finance (DeFi) protocol was exploitable hit the jackpot over the weekend, coming away with a tidy $12.6 million profit. While cryptocurrency hacks — and especially DeFi hacks — are nothing new, and a $15.6 million loss...
The U.K.’s Financial Conduct Authority (FCA) was busy in 2021 when it came to keeping the cryptocurrency space safe, not only fighting off money laundering efforts in the sector but also tracking an increase in scams that targeted consumers who use digital currency. About 3,000...
Meta and Apple reportedly provided customer data to hackers masquerading as law enforcement, Bloomberg reported Wednesday (March 30). Citing three people familiar with the matter, the report said that in response to fake “emergency data requests,” the tech giants provided the hackers with basic subscriber...
Over $2 trillion in illegally gained funds are reprocessed in the global economy as being legit despite the best efforts of financial institutions, new legislation passed by government agencies and crackdowns by law enforcement, according to the recent PYMNTS report, AI-Powered Analytics Help FIs Sharpen...
The PYMNTS crypto crime series looks at the capers that have not only been committed in the cryptocurrency industry but have defined it — and especially bitcoin — in many people’s minds. In it, we’ll give you a look at the realities and the myths,...
Hackers are using email accounts and websites associated with police departments and other government agencies to send unauthorized demands for healthcare patient data, saying the information can’t wait for a court order, according to a Krebs on Security report Tuesday (March 29). In the U.S.,...
Take a close look at the profile of the “person” sending business pitches to your LinkedIn account, or perhaps through Twitter or another social networking platform. They may not really exist. The digital shift and connected economy has given rise to is the use of...