Fear can be a powerful motivator, especially where payments fraud is concerned. While financial institutions have a healthy fear of high-profile fraud vectors like business email compromise and authorized push payments fraud, they may not have developed it around a new source of concern: instant...
In the payment innovation space, security, trust and compliance are three non-negotiable pillars. Their importance is growing against an operational backdrop where data extortion and ransomware attacks impact businesses. Eighty percent of organizations have attack paths that expose critical assets, and there has been a...
How do you deal with an entity that is so malicious it will use a natural disaster to commit cybercrimes? It’s happening in the wake of the two hurricanes that hit the southeastern United States as well as severe storms in other parts of the...
Amazon said Monday (Oct. 14) that it has been using legal action and other methods to combat fake reviews and prevent those reviews from being seen by customers. The company proactively blocked more than 250 million suspected fake reviews in 2023 and pursued legal action...
The cost of cyberattacks is reportedly growing alongside the increases in digitization and artificial intelligence (AI). “If cybercrime damage were a state, it would be the world’s third-largest economy,” Bank of America said in a Thursday investor note, Seeking Alpha reported Thursday (Oct. 10). The financial institution’s note...
The FTC is refunding $449,000 to victims of a telemarketing scam involving extended automobile warranties. According to a Thursday (Oct. 10) news release from the Federal Trade Commission (FTC), the scam was carried out by a company known as American Vehicle Protection Corp. The regulator said the scam involved...
Fidelity Investments has disclosed a data breach that affected 77,099 customers. The breach occurred Aug. 17 and was discovered Aug. 19, the financial services company said in data breach notifications filed Wednesday (Oct. 9) with the Office of the Maine Attorney General. “Between August 17...
The Federal Trade Commission (FTC) plans to require Marriott International and its subsidiary Starwood Hotels & Resorts Worldwide to implement a comprehensive security program. This plan is part of a proposed settlement order regarding the FTC’s charges that three large data breaches from 2014 to 2020 resulted from...
With another major hurricane on the way, three federal agencies are warning companies not to take advantage of these natural disasters and cautioning consumers to watch out for the scams that often accompany these events. Scammers often take advantage of people trying to recover from...
