Fraud is a two-way street, eating away at merchant bottom lines while also disrupting the end-user experience. “As people increasingly do business and transact online, card spend is shifting more to card-not-present, which introduces a higher degree of fraud,” Shimon Steinmetz, CFO at automated risk...
As attractive as new technology and digital tools appear, they also have a darker side. “There’s a bit of Ying and Yang,” Gerhard Oosthuizen, chief technology officer of Entersekt, a FinTech provider of mobile authentication and security software designed to protect online and mobile banking...
The Financial Crimes Enforcement Network (FinCEN) is warning banks of a nationwide surge in check fraud. “Criminals have been increasingly targeting the U.S. Mail and United States Postal Service mail carriers since the COVID-19 pandemic to commit check fraud,” the agency said in a Monday...
LinkedIn has reportedly seen a rash of scams targeting remote workers and jobless tech employees. People seeking jobs on the networking site are instead being cheated out of money as they take part in phony recruitments run by scammers pretending to be employers, the Financial...
A former executive at MoviePass was charged with wire fraud and money laundering for allegedly taking money to pay for a party at Coachella. Khalid Itum was arrested by the Federal Bureau of Investigation (FBI) on Tuesday (Feb. 21) on a federal grand jury indictment...
Hackers dubbed the “Nevada Group” have reportedly launched one of the largest ever ransomware attacks. The goal of the as-yet-unidentified group is to paralyze computer networks of nearly 5,000 victims in Europe and the U.S., the Financial Times (FT) reported Thursday (Feb. 23). These attacks...
When it comes to keeping online credentials and payments safe, consumers trust their banks. Conducting so much of our daily lives online has risk and friction built into the process. We want quick and easy checkouts, a seamless continuum where our “identifiers” — our online...
Digital identity used to be something that people considered “just tick-the-boxes” technology. But as Steve Durney, vice president of strategy at Prove, told PYMNTS, forward-thinking companies can use digital identity as a way to differentiate themselves … and actually generate more revenue by improving the...
GoDaddy has discovered the third cyberattack on its network by the same group since 2020. In the most recent attack, which was discovered in December 2022, an attacker installed malware that intermittently and randomly redirected customer websites to malicious sites, the domain registrar said in a...
