There’s no shortage of damage payments and social engineering fraud can do to a company as well as its member relationships. Creating silos within an organization usually isn’t one of them, but it’s exactly the aim of an upgraded fraud prevention effort from PSCU/Co-op Solutions. The...
American consumers and business owners lost a record $12.5 billion last year to online scammers, marking a 22% spike in cybercrime over 2022, according to the FBI. Despite these losses, the FBI’s newly released annual internet crime report indicates Americans are growing more vigilant. The agency...
Dewald Nolte, chief strategy officer at Entersekt, said 3-D Secure (3DS), the security protocol that was refreshed seven years ago, is an essential tool in fighting fraud. At a high level, 3DS is designed to act as an equivalent to EMV chips and PIN cards, he...
The fallout from the massive data breach at AT&T — where information tied to 73 million current and former account holders was leaked — has yet to be felt. And changing passwords is a start, but by no means will it solve the problem. Bryan...
The Federal Trade Commission (FTC) said Monday (April 1) that it now has stronger tools to combat scammers who impersonate government agencies and businesses. A new rule that took effect Monday allows the agency to file federal court cases seeking to recover money for victims of scams...
OpenAI suggested Friday (March 29) that voice-based authentication for accessing bank accounts and other sensitive information should be phased out. The company said this while announcing in a blog post that it has developed and previewed but not widely released an artificial intelligence (AI) model that...
The proliferation of voice-activated technology, from virtual shopping assistants to speech recognition in smartphones and smart homes, is reshaping how consumers interact with devices. Advancements in this field are continually expanding the possibilities of what voice technology can achieve. For instance, assistive voice technology, like the one developed...
Last month, a hacker group known as ALPHV BlackCat attacked the U.S. healthcare system. Now, the federal government is offering a $10 million reward to help identify the people behind the organization. “The ALPHV BlackCat ransomware-as-a-service group compromised computer networks of critical infrastructure sectors in the United...
The synthetic ID — the online identity concocted through bits and pieces of information gleaned from far-flung sources, cobbled together by fraudsters — is wreaking havoc. TransUnion found in its latest State of Omnichannel Fraud report that 13.5% of transactions associated with online account creation —...
