Real-time payments, known for their speed and immediacy, have faced adoption hurdles primarily due to perceptions about security. As financial institutions (FIs) and payments providers grapple with balancing rapid transaction processing with stringent security measures, artificial intelligence (AI) emerges as a crucial tool in overcoming...
The Consumer Financial Protection Bureau (CFPB) is reportedly looking into how some of the biggest U.S. banks handle complaints from customers who dispute transactions made through Zelle. JPMorgan Chase disclosed the CFPB’s investigation of the peer-to-peer (P2P) payment app on Friday (Aug. 2) in a filing with the Securities and Exchange...
Financial crime prevention firm Featurespace has launched a partnership with fraud detection software maker OrboGraph. The collaboration, announced Tuesday (July 23), is aimed at protecting financial services companies from check fraud. “Check fraud is a growing and concerning area of financial crime — we know...
Galileo Financial Technologies now offers 3D Secure to help clients protect against card-not-present (CNP) debit and credit card fraud. The company’s new Galileo 3D Secure Access Control Server is available to clients in the United States, Canada and Latin America, Galileo said in a Tuesday...
Stadiums and venues across the globe are filling up this summer. From the upcoming 2024 Summer Olympics in Paris to Taylor Swift’s ongoing and record-breaking Eras tour and beyond, there is, quite simply, a lot to do and see for the world’s consumers. But as...
CDK Global has “substantially all” of its car dealership customers back online with their management systems, about two weeks after the company’s systems were taken down by hackers. The company had said Monday (July 1) that some of its systems could be down as late...
The hackers who struck car dealership software-as-a-service (SaaS) platform CDK Global on June 18 and 19 are reportedly affiliated with a Russia-based group called BlackSuit. This cybercriminal group has been tied to 96 extortion efforts since May 2023 and has likely committed dozens more, Bloomberg reported Friday (June 28)....
Neiman Marcus reported a data breach that affected 64,472 customers. The incident occurred on April 14 and was discovered on May 24, the retailer said in a data breach notification filed with the Office of the Maine Attorney General. The company’s filing identified the incident as “external...
Identity verification and fraud prevention firm FiVerity is launching its Identity Trust Management platform. The platform integrates features such as enhanced know your customer (KYC) measures, fraud investigation, continuous monitoring, actionable insights, reporting and orchestration, the company said in a Tuesday (June 25) news release....