Watch more: The Digital Shift With Operation Shamrock’s Erin West The morning before she spoke with PYMNTS CEO Karen Webster, Erin West took a call from a man in Arizona who had lost $4.5 million to an investment scam. He’d done everything a victim is...
Illegal access to artificial intelligence models has reportedly become a key commodity for cybercriminals. That’s according to a report Sunday (Sept. 27) by the Financial Times (FT), which said this trend is happening as hackers look to employ expensive large language models (LLMs) for extortion,...
Fraud budgets are moving in two different directions. Fifty-one percent of global eCommerce merchants expect spending on fraud-management staff to remain flat or decline, while 63% plan to increase investment in fraud-management technology. The numbers frame fraud orchestration as an operating-efficiency question as well as...
A payment request can look perfectly ordinary until someone checks the bank account. By then, the finance team may be one click away from sending money to a fraudster. “Prevention First: Building a Smarter Defense Against Payments Fraud” is a PYMNTS Intelligence report produced in collaboration...
A trove of data allegedly stolen from the FBI includes detailed information about employees working on sensitive intelligence, counterespionage and security operations, Reuters reported Wednesday (Sept. 23). The data, obtained by the hacking group ShinyHunters, includes a 5,000-line spreadsheet containing names, addresses, telephone numbers, dates...
Cyera is reportedly a now $12 billion company amid concerns about artificial intelligence (AI)-related cyberthreats. The data security company reached that valuation after raising $400 million from Goldman Sachs Growth Equity, The Wall Street Journal (WSJ) reported Tuesday (Sept. 22). “The urgency in the market...
Watch more: Digital Shift With Spreedly’s Jennifer Rosario Digital assets can reach millions of consumers faster than the security practices surrounding them can mature. Digital wallets and cryptocurrency products have moved beyond the embrace of technically sophisticated early users. A larger market gives criminals more...
Citigroup’s CEO says artificial intelligence-related security concerns have led to a wave of cyber defense fixes in the business world. “There is a race to defend and shore up all of the firm’s perimeters, and there is a tsunami of patching going on in the...
Decades-old payment technology is reportedly helping scammers steal hundreds of millions of dollars from the welfare system. It’s part of an operation led by Romanian organized crime groups in the U.S., who rely on magnetic stripe-based payment systems to carry out their thefts, The Wall...