The pivot toward work-from-home environments has opened up new vulnerabilities that allow fraudsters to target B2B payments. Nithai Barzam, chief operating officer of nsKnox, a cyber FinTech focused on fraud prevention and B2B payment security, told PYMNTS in an interview that cyber threats have become...
All industries go through a period of evolution where several service providers crowd into a space, offering a slew of options geared toward making enterprise workflows and back-end processes easier. Robert Prigge, CEO of Jumio, told PYMNTS that the compliance and fraud management industries are...
As online identity verification and transaction security improve, making it more difficult for cyberthieves to impersonate legit eCommerce customers, bad actors are reverting to low-tech “smash-and-grab” approaches more often, stealing everything from luxury goods to cannabis to shaving supplies. On Sunday (Nov. 21), arrests were...
The U.K. Payments System Regulator (PSR) is requiring repayment to victims of authorized push payment (APP) fraud after more than 350 million pounds ($469 million) were swiped in the first half of 2021, according to a Thursday (Nov. 18) report from Computer Weekly. APP fraud,...
Hackers are stealing cryptocurrency more often from random individual users, a Wall Street Journal (WSJ) report says. This comes on the heels of the crypto boom among smaller “mom and pop” types of users. Hackers have traditionally stolen from wealthy or well-known investors via SIM...
The Internal Revenue Service (IRS) seized $3.5 billion in cryptocurrencies during the fiscal year 2021, accounting for 93% of the assets seized during the year. That’s according to the agency’s annual report on criminal investigations this week, which also outlines some of the more high-profile...
Decentralized finance (DeFI) platforms have been the target of criminal attacks, with fraud and theft topping $10 billion, according to a report entitled Risk, Regulation, and the Rise of DeCrime from Elliptic Capital tied up in DeFi services has grown 1,700 percent to $247 billion...
California Pizza Kitchen informed 103,767 current and former employees on Monday (Nov. 15) that personal data the company held, including names and Social Security numbers, may have been accessed by digital intruders during a September cyberattack. A draft letter from the company to employees, available...
Wildlife trafficking. Illegal mining. Hazardous substance trafficking. These are all known as environmental crimes, and according to the U.S. Department of the Treasury, they’re on the rise. The department’s Financial Crimes Enforcement Network (FinCEN) issued a warning Thursday (Nov. 18) about an uptick in these...
