Scammers stole about $27 million from Amazon customers between July 2020 and June 2021 through about 96,000 incidents reported to the Federal Trade Commission, according to a blog post on the FTC’s website. The FTC said reports about companies pretending to be Amazon increased fivefold...
Merchants across the globe are expected to lose more than $20 billion to fraud in 2021 alone, a staggering amount indicating the rising menace digital fraud poses to businesses and individuals. In the United Kingdom, phishing schemes are gaining traction, with 73% of the region’s...
Hollywood-style image manipulation that used to require a huge investment and a team of talented people with above-average expertise can now be attained by anyone with a smartphone. Developments like these, which have gained attention following a spate of high-profile deepfake videos being posted on...
The U.S. Financial Crimes Enforcement Network (FinCEN) has revealed that more than $5 billion in bitcoin transactions were linked to ransomware payments. As Bitcoin.com noted Tuesday (Oct. 19), the findings were published by FinCEN in a report outlining ransomware activity in the first half of...
“Forty percent of shoppers who are declined on their first visit won’t return, and one-third will end up seeking out the competition,” says Liron Damri, president and co-founder of Forter. In “The Way Payments Are Now Done,” Damri and 32 other industry executives share their...
Sundar Pichai, CEO of Google’s parent company Alphabet, said in a recent interview that there would be a need for new regulations, specifically for privacy standards similar to what is in place in Europe, along with a need for the U.S. to stay competitive in...
Victims of cyberattacks involving ransomware payments would have to report payouts to the Department of Homeland Security (DHS) under the Ransomware Disclosure Act proposed by Sen. Elizabeth Warren (D-Massachusetts) and Rep. Deborah Ross (D-North Carolina). The proposed bill requires business victims of ransomware attacks to disclose...
The steady rise of the global eCommerce market has created a radically new fraud environment, where fraudsters now seek bigger targets, but strike less often. The evolution comes at a time when merchants that have embraced payments innovation are dealing with the challenges of an evolving fraud landscape – and face new risks of losing business or customers as...
Google’s Threat Analysis Group (TAG) is warning high-risk groups that there has been a surge in activity by government-backed hacking campaigns, up 33% so far this year over the same time period in 2020, according to a blog post. TAG has sent more than 50,000...
