A witness in the Wirecard scandal trial has denied deleting data and withholding information from prosecutors. Oliver Bellenhaus, who is the former head of Wirecard’s Dubai-based subsidiary and the chief witness in the Wirecard scandal trial, denied those allegations in a German court on Wednesday...
Analysis of a variety of data sets is central to tackling online fraud without creating customer friction. As the digital economy grows and evolves, fraudsters are presented with a growing number of opportunities to take advantage of eCommerce retailers who haven’t put up sufficient defenses....
Fraud’s hindering money mobility, and the customer experience is rife with frictions. The average FinTech loses 1.7% of its annual revenue to fraud — approximately $51 million per year. And as we found in the report “The FinTech Fraud Ripple Effect: The Money Mobility 2022...
A defendant and key witness in the Wirecard scandal trial has admitted guilt. Oliver Bellenhaus, the former head of Wirecard’s Dubai office and one of three defendants in one of Germany’s most high-profile fraud trials ever, admitted guilt on Monday (Dec. 19) but painted former...
Criminals are using BEC scams against small businesses to steal hundred-thousand-dollar food shipments. They are spoofing emails and domains to impersonate employees at real firms, according to a joint Cybersecurity Advisory (CSA) issued Thursday (Dec. 15) by the Federal Bureau of Investigation (FBI), the Food and Drug...
Federal prosecutors have charged six men with waging a DDoS attack wave on websites worldwide. DDoS stands for “distributed denial-of-service,” or attacks that bombard targeted computers with information, blocking them from accessing the internet. In this case, the Justice Department seized 48 internet domains connected...
Gone are the days when chief financial officers (CFOs) were considered old-fashioned and tech illiterate. According to Ofer Brown, general manager of Israel and APAC at cybersecurity firm nsKnox, the pandemic led to a rapid acceleration in the adoption of technology and has made today’s...
The former boss of Wirecard is maintaining his innocence. Ex-CEO Markus Braun, who headed the German payments firm, is in the midst of a fraud trial two years after the company’s insolvency and collapse. Braun has denied any wrongdoing. On Monday (Dec. 12), his lawyers...
The “ROI” of increasingly efficient fraudsters is often better than the large companies they attack. According to Trish Cox, head of operations at Galileo Financial Technologies, this sad but true reality is set to see businesses experience more than $38 billion in fraud losses by...
