Fraud evolves as the bad guys do, trying to stay one step ahead of technology and risk management efforts. Jack Bloch, SVP SW engineering at ACI Worldwide, tells PYMNTS that rules-based fraud detection and prevention systems are irrelevant to machine learning and pattern recognition.
Just two generations ago, banks generally did business with people known by the financial institution’s employees and officers, lending to “people in good standing in the community,” said Stephen Maloney, EVP of business development and strategy at Acuant, during a recent PYMNTS interview. Get the...
Lyft, the newly public ride-hailing company, announced Monday (April 15) two new initiatives aimed at increasing the safety and security of its platform. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no...
Microsoft, the Redmond, Washington software giant, confirmed to reporters over the weekend that its web-based email services were hacked. According to reports citing Microsoft, the company confirmed that a “limited” number of webmail users — including @msn.com and @hotmail.com — saw their accounts compromised by hackers. In...
U.K. bank TSB said it would refund its 5.2 million customers who were the victims of an online fraud scam. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....
Three years after fraudsters made off with $101 million from a Bangladesh bank, cyber threats have evolved, according to a new report by SWIFT. The bad guys wait quietly for weeks and months and then strike. They're also trying to sneak under the radar with...
A report by Bloomberg said that after one of the biggest cyber heists in history involving the theft of $100 million from the Bangladeshi central bank’s account in the U.S. Federal Reserve, criminals are now vying for smaller amounts in an attempt to avoid detection....
A study by Symantec, a cybersecurity company, showed that two out of every three hotel sites have leaked personal data, which could include credit card and passport information, according to a report by Reuters. Get the Full Story Complete the form to unlock this article...
U.S. authorities announced that they have charged a number of individuals in connection with one of the biggest healthcare frauds ever prosecuted in the nation. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...
