Visa blocked 280% more suspected fraud attempts on Black Friday in the United Kingdom this year compared to last year and 140% more across Europe. Compared to the previous Friday (Nov. 21), the company blocked 63% more suspected fraud in the U.K. and 40% more...
The “2025 State of Fraud and Financial Crime in the United States” report, a PYMNTS Intelligence report commissioned by Block, reveals that the financial industry is navigating an increasingly sophisticated and dynamic threat landscape. The primary trend observed is a significant surge in unauthorized-party fraud,...
A California resident reportedly sued artificial intelligence startup OpenAI and data analytics provider Mixpanel on Monday (Dec. 1) after the companies disclosed a data breach in November. Jon Woodard’s class action lawsuit alleges that the companies violated their duty to safeguard user data, and it...
One of the world’s largest cyber insurance firms is reportedly reducing its U.S. cyber business in order to maintain underwriting discipline and rate adequacy in the face of unsustainable rates in the cyber market. That company, Beazley, is dealing with increasing claims and falling prices,...
A data breach at Coupang has exposed personal information of nearly 34 million customers. The eCommerce company, considered the “Amazon of South Korea,” revealed the breach on Saturday (Nov. 29), Reuters reported. Coupang said the unauthorized access to customer info appears to have begun in...
The European Parliament and the European Council advanced rules that they said would provide consumers with greater protection from online fraud and hidden fees. Negotiators from the parliament and the council agreed on the Payment Services Regulation (PSR) and the Third Payment Services Directive (PSD3),...
Marketplace scams are emerging as one of the fastest growing threats facing holiday shoppers, taking advantage of consumers who are searching for deals and making rapid decisions during the busiest shopping stretch of the year. As Black Friday approaches, fraudsters intensify their activity across digital...
The FBI’s Internet Crime Compliant Center is cautioning the public that cybercriminals are impersonating financial institutions to steal money or information from individuals, businesses and organizations. IC3 has received more than 5,100 reports of account takeover (ATO) fraud since January, and these reports included losses...
Cargo theft is now “primarily cyber-enabled,” an FBI agent said in a Tuesday (Nov. 25) Wall Street Journal report. Doug McKelway, a supervisory special agent with the Federal Bureau of Investigation’s criminal division, told the WSJ that many cargo thefts now start on online platforms...