The April hacks of crypto companies Drift and Kelp DAO have shaken the crypto sector because those attacks may have been aided by artificial intelligence (AI), Bloomberg reported Friday (May 15). Following the hacks, which netted the attackers a total of almost $600 million, Drift shut down and plans...
Artificial intelligence is becoming part of the everyday operating system of financial services, from fraud detection and identity checks to customer service and transaction monitoring. While AI is useful for banks, it also raises a question for risk officers and regulators. What happens when automated...
Security researchers have reportedly bypassed Apple’s operating system using techniques based on Anthropic’s Mythos. According to a Thursday (May 14) Wall Street Journal (WSJ) report, this discovery from the security firm Califunderscores a changing cybersecurity landscape, where artificial intelligence (AI) is increasingly being used to break through even the...
A new Microsoft artificial intelligence (AI) system has reportedly outperformed Anthropic in a cybersecurity test. The system, dubbed “MDASH,” was introduced this week along with the revelation of 16 new vulnerabilities it uncovered in various versions of Windows, tech news website GeekWire reported Wednesday (May...
Embedded finance is giving businesses a faster way to move money, but its next stage of growth may depend on how well companies build security into the transaction before it begins. That is the central message of “Embedding Security: Designing Fraud Risk Out of Business Transactions,”...
In the age of application programming interfaces (APIs) and artificial intelligence (AI), data governance is becoming harder for banks than perimeter defense. After all, the infrastructure powering vital advances like instant payments and personalized financial services is also creating sprawling new security risks as banks...
Foxconn, which manufactures products for Apple and Google, is reportedly recovering from a ransomware attack. A company spokesperson confirmed the incident for web publication BleepingComputer Wednesday (May 13), following claims earlier in the week by the Nitrogen ransomware operation that it had stolen 8 TB of...
Embedded payments are forcing businesses to rethink fraud prevention as a design challenge, not just a cleanup job after something goes wrong. That was the central theme of “Embedding Security: Designing Fraud Risk Out of Business Transactions,” a March PYMNTS Intelligence Business Payments Tracker Series...
JPMorganChase is making nearly $14 million in philanthropic investments to support seven organizations that are combating fraud and scams through consumer awareness and real-time prevention. These investments build on the bank’s artificial intelligence-driven defenses, real-time monitoring and rapid incident response by helping build a coordinated...