With the increasing digitization of payments due to the pandemic, it is estimated that over $6 trillion will be exchanged through digital channels by the end of 2021, representing a 40% increase over the past two years. Get the Full Story Complete the form to...
A new report from the Treasury Department shows that American banks and financial institutions (FIs) recorded close to $600 million in suspected ransomware payments during the first half of 2021, more than the total for all of 2020. Get the Full Story Complete the form...
The Federal Communications Commission (FCC) is taking action to put a stop to SIM swapping, a form of fraud in which bad actors can take control of peoples’ cellphone accounts by convincing a wireless carrier to transfer the victim’s service from their own phone to...
A Massachusetts man was remanded to federal prison after being charged with fraudulently obtaining Pandemic Paycheck Protection (PPP) loans in the amount of $543,000 and then faking his suicide to evade arrest, according to a statement from the U.S. Department of Justice (DOJ). Get the...
U.S. Sen. Elizabeth Warren and Rep. Deborah Ross have introduced legislation that gives the Department of Homeland Security more data on ransomware payments. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no...
Artificial intelligence (AI) and machine learning (ML) are helping merchants and online platforms get smarter about detecting risk. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to...
The chain of data protection – keeping the most sensitive information out of the hands of hackers and other bad actors – is only as strong as its weakest link. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
Millions of pounds were swiped from Barclays accounts in a phishing scam by a fraudster using a Monzo account and a payments initiation service provider (PISP), The Telegraph reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
A 34-year-old man and a 33-year-old woman, both from California, were arrested in Hawaii for submitting fraudulent COVID-19 test results in an effort to skirt a traveler quarantine requirement that’s aimed at keeping the spread of the coronavirus at bay across the islands, the Associated...
