The fraudsters grow ever-wilier, the attacks more brazen. And effective. A blog post this week from the Atlanta Federal Reserve noted that “at least” 60 credit unions were “knocked out of commission” by ransomware attacks towards the end of the year. Those CUs had all been...
No matter the attack vector, bad actors have a singular strategy in place when it comes to eCommerce fraud, Jason Paguandas, VP and GM, Merchant Security and Fraud, Carat from Fiserv, told Karen Webster. “They want to accumulate as much data as possible, and even...
The Jan. 9 hack of the Securities and Exchange Commission’s (SEC) account on the social media platform X (formerly known as Twitter) was apparently the result of a “SIM swap” attack. The regulator announced this finding in a Monday (Jan. 22) statement to the media, which was posted...
Firms know that failed payments damage their reputation, lead to customer churn and increase staff workload. Failed payments ultimately translate into a loss of sales and extra costs, eroding business profitability in both directions. However, despite the ripple effects of failed payments on profitability and...
Choosing between fast and secure payments is no longer a question. The choice between establishing robust fraud protection and offering a seamless customer experience has been resolved: Organizations today can have both. PYMNTS sat down with Jason Knell, senior director of commerce services, GTM and...
Insurance industry cloud platform CCC Intelligence Solutions debuted a new data security tool for collision repair shops. The new feature lets auto repairers redact the last six digits of a vehicle identification number (VIN) and personally identifiable information (PII), before sharing estimate information via EMS...
Most crimes, especially most cybercrimes, are crimes of opportunity. And faced with a proliferation of simple yet effective attacks from cybercriminals leveraging scalable tactics powered by innovations like generative artificial intelligence (AI), it is the little changes across an enterprise’s defense program that can make a...
As instant payments become more widely used in the United States, the financial services ecosystem must gird for ever-more-brazen attacks from fraudsters. Nick Fleetwood, head of data services at Form3, said that there’s at least some reference to be gained from the United Kingdom, where there’s...
Porch Group has launched a fraud warning product for title and escrow companies. The new RynohVerifi product is designed to help protect against payment fraud by confirming the payee account ownership and alerting clients to any anomalies with the account details, the company said in a Tuesday...
