Phishing texts that mimic a bank alert or a package delivery notice usually point to a fake website built to capture passwords and card numbers. Google says one criminal network used artificial intelligence to build those websites at a scale no human team could match....
Fraud prevention has largely been treated as an institution-by-institution exercise. Banks built their own models, payment companies and vendors developed proprietary services and solutions. The latest guidance from the Financial Crimes Enforcement Network (FinCEN) suggests there’s strength in numbers, so to speak, and collaboration among...
Authorized push payments (APP) fraud continues to bedevil the financial sector in the United Kingdom. That’s according to the 2026 edition of Annual Fraud Report from UK Finance, which showed that criminals stole 1.28 billion pounds (about $1.7 billion) through payment fraud last year, a...
For decades, accounts receivable has operated on the assumption that there would be time to fix mistakes after money moved. But as instant and near-instant payment capabilities become more common, that assumption is breaking down. PYMNTS Intelligence research in collaboration with Plaid suggests the challenge...
Oracle has discovered a vulnerability in some of its PeopleSoft software that is remotely exploitable without authentication and can result in remote code execution if exploited by hackers, the company said in a Wednesday (June 10) security alert. The vulnerability (CVE-2026-35273) is in Oracle PeopleSoft...
The United States’ lead cybersecurity agency is pivoting toward a strategy of “ruthless” prioritization as it grapples with a wave of new artificial intelligence (AI) mandates and a depleted workforce. Acting Cybersecurity and Infrastructure Security Agency (CISA) Director Nick Andersen, speaking Tuesday (June 9) at...
Fifth Third Bancorp was invited to join Anthropic’s Project Glasswing cybersecurity initiative, Seeking Alpha reported Wednesday (June 10). The bank’s chief financial officer, Bryan Preston, said at the Morgan Stanley U.S. Financials Conference that Fifth Third was granted access to the initiative within the past several weeks, according to the report. “We think it...
Financial fraud today is no longer chaotic. It is being optimized by artificial intelligence. Across the lending industry, a new category of fraud is emerging that combines deepfake video, cloned voices, synthetic identity creation, fabricated employment histories and AI-generated financial behavior into a single engineered...
A spike in incidents of financial fraud has reportedly turned America’s bank tellers into quasi-detectives. That’s according to a report Sunday (June 7) from The New York Times (NYT), which noted that this is happening against the backdrop of a five-fold increase in cybercrime losses,...