Card theft and account breaches remain major threats, but some of today’s fastest-growing fraud schemes begin earlier by targeting identity itself. Criminals increasingly use artificial intelligence to build false identities and mimic real voices and faces well enough to slip past existing checks. That leaves...
Fraud prevention is no longer a cost center, and for many firms, has become an investment with a measurable return. “Payment Protection: Why Firms Still Aren’t Real-Time Ready,” a PYMNTS Intelligence report produced in collaboration with Plaid, finds that companies modernizing payments report lower fraud...
Revolut and the Federal Reserve are in the news this week after suffering two banking infrastructure compromises. However, the most interesting thing about the separate incidents isn’t what happened; it’s what did not. Hackers did not have to break into Revolut to obtain sensitive customer...
Last week, Revolut revealed that customer data had been exposed in an email scam. Now, the U.K. FinTech is dealing with extortion threats from a hacker claiming to have perpetrated the breach, the Wall Street Journal (WSJ) reported Tuesday (Sept. 16). According to this report,...
An email-based scam has reportedly led to the leak of Revolut customer data. The British FinTech says sensitive information from a “limited number” of customers was exposed in a scam in which an unauthorized third party used a legitimate government email domain, Bloomberg News reported...
Businesses may be able to strengthen their fraud defenses by putting the bank connections they already have to fuller use. The PYMNTS Intelligence report “Payment Protection: Why Firms Still Aren’t Real-Time Ready” found in August that nearly all firms have secure access to customer bank...
Cybersecurity will be the artificial intelligence industry’s next big market, in part because of the capabilities of new AI models set to be released by AI labs, Nvidia Founder and CEO Jensen Huang said Thursday (Sept. 10). Speaking at the Goldman Sachs Communacopia + Technology...
IDScan.net, a provider of identity verification models, has posted a notification of data security incident on its website. In the notification, IDScan.net said it received information on or around Sept. 1 that some of its data may have been accessed without authorization. The company then...
Ant International is working with Visa and Mastercard to develop a know your agent (KYA) interoperability framework, according to a Wednesday (Sept. 9) press release. The effort is designed to help card networks, digital wallet ecosystems, agent platforms and marketplaces streamline artificial intelligence agent onboarding...