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...
A cyberattack may have targeted data of some of America’s biggest banks. As The New York Times (NYT) reported Saturday (Nov. 22), the attack wasn’t on the banks themselves but on vendor SitusAMC, which helps lenders originate and collect money from real estate loans and...
The Federal Communications Commission (FCC) has rescinded its rule that required telecommunications carriers to safeguard their networks from cyberattacks, saying it will instead partner with carriers to strengthen cybersecurity. The regulator said in a Thursday (Nov. 20) press release that the declaratory ruling and notice...
Allstate launched a new workplace benefit that reimburses employees who fall victim to cybercrime. The new Allstate Scam Protection offers reimbursement up to $50,000 when money or cryptocurrency is stolen through scams, the company said in a Thursday (Nov. 20) press release. This product offers...
The European Union (EU) has released an extensive plan to ease digital regulations. The project, announced Wednesday (Nov. 19), centers around a “digital omnibus” that streamlines rules on artificial intelligence (AI), cybersecurity and data. According to the European Commission — the EU’s regulatory arm —...
Fraud prevention and payment security firm Entersekt debuted enhancements to its digital banking authentication platform. The new offerings include Entersekt Orkestrate, a tool designed to simplify authentication for financial institutions, according to a Tuesday (Nov. 18) press release. “As AI scams and fraud continue to...