Vulnerabilities in decentralized finance (DeFi) are enabling criminals to transfer and launder illicit proceeds. Both providers of DeFi services and the United States government can do more to reduce those vulnerabilities, the U.S. Department of the Treasury said in a report released Thursday (April 6)....
Businesses contemplating the transition to a remote workforce should prepare for possible increased fraud-related headaches. As reported recently by the Wall Street Journal, U.S. workers have voiced a clear preference for remote employment, as commercial office vacancy rates remain as much as 60% higher than they were pre-pandemic. Drivers for...
Running a business is complicated, particularly in today’s challenging macroclimate. But economic downturns are cyclical — and there exists a bevy of professional service firms out there to help organizations chart a path forward through uncertain times. Only now, those firms are increasingly coming under...
Employees are simultaneously a company’s first line of defense and their weakest link. That is because as today’s quick-moving, instant-everything modern world offers more hyperconnected vulnerabilities for bad actors to exploit, behavioral-driven fraud tactics are becoming an increasingly popular approach for breaching a firm’s defenses....
Federal regulators say the founder of student financial aid company Frank defrauded America’s biggest bank. Charlie Javice was charged Wednesday (April 4) by the Securities and Exchange Commission (SEC) with fraud in connection with her $175 million sale of Frank to JPMorgan Chase in 2021....
Storing payment credentials is a practice increasing by leaps and bounds from streaming services to food delivery, with PYMNTS research finding that 60% of consumers on average store payment credentials. The question is, whom do they truly trust with these credentials? Examining this in the...
With online sportsbooks coming off a record Super Bowl in February and more states legalizing the practice at what seems like a monthly cadence, concerns are rising about the security of betting pay-ins and payouts on these apps and platforms. Market research firm Insider Intelligence...
For financial institutions — credit unions, especially — fighting fraud is a nuanced battle. Karen Postma, managing vice president of risk analytics and fraud services at PSCU, told PYMNTS that FIs are grappling with the rising tides of first-party and third-party fraud. The pandemic has...
This second-to-last installment of PYMNTS’ generational mini-series takes a closer look at the digital habits and behavior of bridge millennials. The cusp generation known as bridge millennials contains both older millennials and the youngest members of Generation X. These consumers are generally considered to have...
