A homeowner pays a bogus seller but still gets the dumpster they ordered. When the stolen-card charge is reversed, the rental broker can be left with the bill for hauling and disposal. A cardholder calling about an unfamiliar charge can leave Dumpster Rental Enterprises with...
Shipping giant A.P. Moller-Maersk disclosed Wednesday (Nov. 11) that an unauthorized party accessed and extracted data from a legacy IT system inherited through a previous acquisition. Maersk has not reported a companywide compromise, but the incident illustrates a persistent problem for acquisitive businesses. Technology inherited...
Artificial intelligence (AI) is making software cheaper to build. But the changing cost of deploying software hasn’t brought down the expenses of securing it. A Tuesday (Nov. 10) blog post from cybersecurity firm Claroc reported that over 35,000 business applications built using Grok’s AI were accessible...
Banks have an opportunity to help more scam victims recover their money by making reporting what happened clearer. The September PYMNTS Intelligence report “Fraud’s Loyalty Tax: How Scams Cost Banks Their Customers,” based on a survey of 9,524 consumers in the United States, examined how...
Watch more: Need to Know With Paymentology’s Stephen Bowe A bank can authenticate the person making a payment and still send money exactly where a criminal wants it to go. “It doesn’t matter how sophisticated your authentication protocol is, if it’s actually me [the legitimate...
Gnosis Pay has disclosed a data breach that revealed customer information, the latest in a series of security incidents at digital asset companies. The company, which lets users spend stablecoins with Visa debit cards tied to their crypto wallets, announced Friday (Nov. 6) it had...
The FBI accused three people of orchestrating a long-running $129 million artificial intelligence-powered impersonation scam, according to a Thursday (Nov. 5) press release from the Department of Justice. Jacob Soall, Sharon Hazan and Guy Sheetrit were charged with multiple counts of wire fraud, money laundering...
A card issuer can give an artificial intelligence shopping assistant permission to buy a customer’s groceries without giving it a card number it could use to buy anything else. That distinction was central to “When Fraud Becomes the Customer: The Next Battlefront for Issuers,” the...
A shopper taps “Pay” with a card they’ve already saved. The retailer has the card details, but the purchase may still require the shopper to confirm it’s really them. The requirement might typically demand a series of steps, such as entering a code sent by...