For criminals, big news creates big opportunities. And businesses beware — the recent collapses of Silicon Valley Bank (SVB) and Signature Bank offers cybercriminals a perfect cocktail of urgency, uncertainty and money movement, creating an irresistible, golden opportunity for scammers and fraudsters to exploit. “The phishing has been through...
Block saw its stock tumble Thursday (March 20) after a short seller accused it of misleading investors. A report by Hindenburg Research, which the firm said is the result of a two-year investigation, said the payments company inflated the user base of its Cash App...
Living in the past holds organizations back. But as the B2B payments landscape continues to be transformed by ongoing digitization, some enterprises are themselves holding back from fully embracing modern tools out of a fear that going digital could mean opening the floodgates to fraud....
Cannabis company American Patriot Brands has been charged with fraud. The complaint filed by the Securities and Exchange Commission (SEC) also names the company’s CEO, two current and former executives, and subsidiaries DJ&S Property #1 LLC, TSL Distribution LLC and Urban Pharms LLC, the SEC...
Lebanon central bank Governor Riad Salameh has made his first court appearance facing international charges. Five European countries are investigating the Banque du Liban governor and his brother, Raja Salameh, regarding allegations of money laundering and embezzlement of public funds involving hundreds of millions of...
Much has been said about the potential new technologies like artificial intelligence (AI) and machine learning have in transforming fraud detection and fraud prevention across industries. But according to UK Finance’s Katy Worobec, managing director, economic crime, and Dianne Doodnath, principal, economic crime – remote...
The scope of the United Kingdom’s economic crime bill may be narrower than some hope. Some lawmakers have proposed excluding small businesses from the laws that the bill would implement, and some have considered excluding money laundering and false accounting from the rules’ scope, the...
The payments ecosystem spends 99% of its time and money on the 1% of the people who are out to exploit the system: the fraudsters. It’s now time to turn the tide. Nuvei Chief Operating Officer Vicky Bindra and Prove Chief Product Officer Nicole Jass...
Younger generations want to know what their financial institutions are doing to secure their transactions. That’s according to the latest research in PYMNTS’ March report, “Visible and Invisible Security: Perceptions in Digital Banking,” a collaboration with Entersekt. The report found that consumers want to be...
