Cyberattacks are the greatest threat to the world’s financial system, Federal Reserve Chairman Jerome Powell said in an interview with CBS News this week. Speaking to “60 Minutes” on Sunday (April 11), Powell said the risks posed by cybercriminals are greater than the lending and...
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PayPal is launching a new fraud protection tool to help merchants combat the growing problem of online fraud. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to...
Paul Davison, the CEO of new audio social media app Clubhouse, says there were no leaks of personal user data, in contrast to a report claiming there had been recently, The Verge reported. Get the Full Story Complete the form to unlock this article and...
Reputation is everything for jewelry merchants, but their credibility can lose its luster if artificial intelligence (AI)-equipped fraudsters aren’t preemptively stopped. In this month’s Digital Fraud Tracker, Jim Dunlap, chief information officer of jewelry and home goods retailer Kendra Scott, explains how the jewelry merchant...
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Following a consensus from a panel of industry fraud experts, the Federal Reserve is introducing a uniform definition of what constitutes synthetic identity fraud (SIF). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...
A number of European Union institutions — among them the European Commission — were the target of a “significant” cyberattack last week, Bloomberg reported on Tuesday (April 6). A commission spokesperson told the news organization that several EU bodies were attacked in an “IT security...
As so much of daily life and transactions move online, the digital-first economy is not without its new challenges. For example, the problem of identity theft is widespread — and to get a sense of scale, the Federal Trade Commission (FTC) has estimated that last...