President Donald Trump’s administration is reportedly considering a plan to launch a government-led cybersecurity research incubator. This effort would invest in that research and help launch startups focused on building cybersecurity tools for the government to use, Bloomberg News reported Thursday (Sept. 17), citing sources familiar with...
The House approved legislation Tuesday (Sept. 15) aimed at giving state and local law enforcement more resources to investigate sophisticated financial scams targeting older consumers in the United States. Among the primary targets of the measure are so-called pig butchering schemes based on cryptocurrency. The...
The Port of Los Angeles reportedly blocked more than 120 million cyberattacks during August. That’s according to a report Thursday (Sept. 17) by Bloomberg News, which notes that these attacks on America’s busiest container hub for global trade represent an ongoing operational threat amid shifting tariff policies. Gene...
Hackers claiming to have breached British FinTech Revolut have now reportedly issued a ransom demand. The group, known as “iamnotavillain,” is threatening to sell confidential information about hundreds of customers unless the online bank pays a roughly $3 million ransom within 24 hours, the Financial...
Card theft and account breaches remain major threats, but some of today’s fastest-growing fraud schemes begin earlier by targeting identity itself. Criminals increasingly use artificial intelligence to build false identities and mimic real voices and faces well enough to slip past existing checks. That leaves...
Fraud prevention is no longer a cost center, and for many firms, has become an investment with a measurable return. “Payment Protection: Why Firms Still Aren’t Real-Time Ready,” a PYMNTS Intelligence report produced in collaboration with Plaid, finds that companies modernizing payments report lower fraud...
Revolut and the Federal Reserve are in the news this week after suffering two banking infrastructure compromises. However, the most interesting thing about the separate incidents isn’t what happened; it’s what did not. Hackers did not have to break into Revolut to obtain sensitive customer...
Last week, Revolut revealed that customer data had been exposed in an email scam. Now, the U.K. FinTech is dealing with extortion threats from a hacker claiming to have perpetrated the breach, the Wall Street Journal (WSJ) reported Tuesday (Sept. 16). According to this report,...
An email-based scam has reportedly led to the leak of Revolut customer data. The British FinTech says sensitive information from a “limited number” of customers was exposed in a scam in which an unauthorized third party used a legitimate government email domain, Bloomberg News reported...