March 17, 2024
FTC Sees Jump in AI-Related Scams on Social Media
Federal regulators have reportedly recorded a jump in AI-related scam ads on social media. The Federal Trade Commission (FTC) has seen a sharp rise in complaints in the last year involving ads...
March 17, 2024
FTC Inquires About Reddit’s Data-Licensing Business Amid IPO Preparations
In a recent development, Reddit, the popular social news aggregation and discussion website, disclosed that it had received a letter from the Federal Trade Commission (FTC) concerning its data-licensing practices...
March 15, 2024
Prosecutors Seek 40- to 50-Year Term for Sam Bankman-Fried
Federal prosecutors are seeking a 40- to 50-year prison sentence for Sam Bankman-Fried, the former CEO of the now-bankrupt cryptocurrency exchange FTX, over charges of massive fraud. Bankman-Fried, who was found...
March 15, 2024
Artificial Intelligence Transforms Consumer Wellness Habits
Your next massage could be powered by artificial intelligence (AI), a sign of how AI technology is overtaking the wellness industry. With $80 million in funding, Aescape is poised to introduce...
March 15, 2024
Mercado Libre Investing $2.5 Billion to Bolster Growth in Mexico
Latin American eCommerce and payments firm Mercado Libre is reportedly set to invest a record $2.5 billion in Mexico this year, up from the $1.6 billion spent in 2023. The...
March 15, 2024
Canary Technologies and Adyen Partner on Payment Solution for Hotels
Canary Technologies has partnered with Adyen to help hotels enable seamless and secure transactions for their guests. The collaboration features the integration of Canary Technologies’ global Guest Experience Platform with Adyen’s global financial technology platform,...
March 15, 2024
California Forges Ahead With AI Rules as Federal Regulations Lag...
California’s recent vote to regulate artificial intelligence (AI) and personal data use by businesses underscores growing concern over the risks posed by these technologies in the absence of clear federal...
March 15, 2024
Old School Fraud: Counterfeit Cash Makes Global Comeback
While we were all watching online fraud, social engineering and ransomware, an old school financial crime tactic is rearing its ugly head. Counterfeit banknotes are making a comeback back all...
March 15, 2024
This Week in AI: Optimism, EU Regulations and Lightweight Bots
This week in artificial intelligence (AI) news, a study examined different views on AI’s future, while the EU is moving forward with strict AI laws. Meanwhile, smaller and more efficient...
Generative AI’s use in the telecommunications industry is increasing, with 87% of telecom executives seeing its potential to enhance customer relations and experience, but 68% of telecoms also admit they are insufficiently addressing the risks associated with the technology. The latest edition of the “Generative AI Tracker®,” a collaboration with AI-ID, examines why three-quarters of telecoms see a need to do more to combat AI fraudsters, underscoring the tension between innovation and robust security.
Forty-six percent of FIs say the fraud risks of providing open banking outweigh the benefits, but the share of skeptics rises to 57% among FIs that experienced increased fraud. PYMNTS Intelligence’s latest study of 200 FI execs, “How Fraud Fears Impact FIs’ Adoption of Faster Payment Solutions,” a collaboration with Hawk AI, details why FIs are cooling toward open banking but staying the course on real-time payments.