Sections
security & fraud
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Security & FraudFinCEN Warns Of COVID Scams Targeting FIs, Consumers
The Financial Crimes Enforcement Network (FinCEN) issued a press release warning financial institutions (FIs) and consumers about pandemic-related scams, including some connected...
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Security & FraudThe Latest Digital Fraud Prevention Technique: Build A Selective Lock
When one stops to consider how fast merchants pivoted to offer their consumers digitally-enriched shopping journeys and how many things customers can...
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Security & FraudInstacart Denies Reported Data Breach Affecting 280K Users
Hundreds of thousands of Instacart customers are having their personal data sold on the dark web, including the last four digits of...
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Security & FraudFeds Eye Payments Processors, Phony Websites Over Fraud
The U.S. Department of Justice (DOJ) and the Federal Trade Commission (FTC) are cracking down on scams known as credit card laundering...
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Security & FraudWhy Traditional Fraud Methods Failed To Stop Public-Payout Systems Fraud
Some recently unemployed Americans who have attempted to file for jobless benefits are encountering a nasty shock: They’ve been robbed by canaries....
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Security & FraudTwitter Hackers Took Personal Data From Celebrity Accounts
Twitter has provided a glimpse into its investigation of last week’s security breach, the worst in its 14-year history, as hackers commandeered...
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B2B PaymentsRansomware Attack On Orange Accessed 20 Enterprise Customers’ Data
France-based telecom company Orange reported that a ransomware attack had compromised the data of 20 enterprise customers on one of its servers,...
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Security & FraudWirecard Exec Admits Role In German Company’s Collapse, Attorney Says
One of the unnamed jailed executives in the Wirecard scandal has reportedly admitted guilt to the multi-billion-dollar fraud and money laundering case,...
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Security & FraudBaFin Downplayed Wirecard Complaints, Report Says
German market watchdog Federal Financial Supervisory Authority, or BaFin, has come under fire for its actions in the Wirecard scandal, as the...
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Security & FraudTwitter Accounts Of Bezos, Buffett, Musk And Others Apparently Victims Of ATO Crypto Scam
High-profile Twitter accounts, including those of Amazon CEO Jeff Bezos, Berkshire Hathaway Chairman Warren Buffett, Tesla CEO Elon Musk and others, were...
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Security & FraudHackers Hike Attacks On Hospitals Amid Pandemic
A national survey has found more than 80 percent of medical practices have been the victims of cyberattacks, USA Today reported. More...
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Security & FraudIndia’s Google-Backed Delivery App Dunzo Hit By Data Breach
Delivery startup Dunzo, India’s food and grocery delivery service backed Google, has suffered a data breach, The News Minute reported. The company’s...
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Security & FraudSecret Service Launches Task Force To Fight Cyber Fraud
As federal investigators recognize the connections between cyber and traditional financial crimes, the U.S. Secret Service has established a single agency to...
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Security & FraudBitfinex Must Answer NY AG Allegations It Hid Over $800M In Lost Funds
Cryptocurrency exchange Bitfinex must answer allegations by the state of New York that the Hong Kong-based company hid more than $800 million...
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Security & FraudWirecard Exec Who Ran Unit At Heart Of Scandal In Custody In Munich
Wirecard executive Oliver Bellenhaus, 46, has been arrested in Munich for his alleged central role in the massive worldwide fraud case currently...
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Security & FraudUK Digital Banking Apps Affected By Wirecard Subsidiary Freeze
After the U.K.’s Financial Conduct Authority (FCA) mandated that Wirecard’s British Wirecard Card Solutions unit stop conducting regulated work, a number of...
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Security & FraudWirecard, Enron And Warning Signs Across Two Decades
Author George Santayana famously wrote: “Those who cannot remember the past are condemned to repeat it.” And Mark Twain once wrote: “History...
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Security & FraudEY Accused Of Missing Alleged Wirecard Fraud
In the ongoing scandal of Wirecard, under fire for fraud, the focus is now turning to auditors Ernst & Young (EY), which...
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Security & FraudPhilippines Opens Probe Into Wirecard’s Missing Cash
The Philippines has launched an investigation into the missing $2.1 billion that Wirecard said it deposited in two of the island nation’s...
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Security & FraudTelegram: Breach Exposed Millions Of Users’ Data
Messaging app Telegram said a data breach has exposed a database containing the personal information of millions of users, according to a...
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Security & FraudCreating An ‘Anchor Of Trust’ In The Battle Against CNP Fraud
As the world must go increasingly digital — perhaps permanently — people who had resisted the great shift to eCommerce have had...
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Security & FraudDOJ Alleges Man Faked 120 Employees To Get $3M PPP Loan
A 44-year-old Texas man, Fahad Shah, was charged with fraud for allegedly attempting to file fake loan applications for the Paycheck Protection...
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Security & FraudConsumers Duped By ‘Risk-Free Trials’ To Get $8.7M In Refunds From FTC
The Federal Trade Commission (FTC) is sending out over $8.7 million in refunds to 187,425 customers who were reportedly signed up for...
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Security & FraudNintendo Says Hacked Accounts Could Total 300,000
The number of Nintendo accounts compromised by hackers was nearly double the amount reported two months ago, according to TechCrunch. The Japanese...
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Security & FraudFTC Bans Rogue Payment Processor In Settlement Over Alleged Scams
A Texas operator of several payment processing centers has agreed to be permanently banned from the industry in order to settle charges...
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Security & FraudIt Takes A Hub: Fighting eCommerce Fraudsters Across New Vectors
As commerce shifts online in a pivot that is likely to remain permanent, the fraudsters are also shifting their targets — and...
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Security & FraudEurope’s Financial Forces Launch Cybersecurity Sharing Initiative
A cross-section of European financial powerhouses – including members of the Euro Cyber Resilience Board for pan-European Financial Infrastructures (ECRB), chaired by...
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Security & FraudFacial Recognition Firm Clearview AI Client List Is Hacked
Facial recognition outfit Clearview AI — which collects billions of photos off the internet, and uses them for facial recognition technology — has...
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Security & FraudHack Of Patient Survey Firm NRC Health Raises Questions Over US Records Security
A cyberattack at NRC Health has prompted questions about the security of its data and overall patient privacy, CNBC reported. On Feb....
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Security & FraudData Breach At US Defense Agency Compromised Personal Info
The U.S. Defense Information Systems Agency (DISA) said that its network was likely “compromised,” according to reports on Thursday (Feb. 20). The...
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Security & FraudPR Gov’t Loses $2.6M Due To Email Phishing
The government of Puerto Rico lost $2.6 million after it was the victim of an email phishing scam, according to the AP. Rubén...
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Security & FraudAvast Antivirus Program Selling Private Browser Data
Antivirus program Avast was found to be selling user data to a number of huge companies, including Google, Microsoft and Pepsi. The...
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Security & FraudTourism Data Hack Leads Greek Banks To Cancel Thousands Of Their Cards
All four of Greece’s main banking institutions enacted security protocols after a data breach, and consequently cancelled 15,000 consumer cards, according to...
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B2B PaymentsWhen Email Becomes SMBs’ Biggest Security Threat
The business email compromise (BEC) scam is a cybersecurity threat to businesses of all sizes, and the financial and security implications of...
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Payments InnovationNew Data: 85 Pct. Of Businesses Have Real-Time Payments On Their Roadmaps – Here’s Why
The Clearing House launched Real-Time Payments (RTP) two years ago, enabling financial institutions in the U.S. for the first time to send...
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Security & FraudLandry’s Customer Payment Data Stolen In Cyberattack
U.S. restaurant chain Landry’s announced on Thursday (Jan. 2) that it had been the victim of a malware attack that almost stole...
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Security & FraudWyze Smart Device Co Leaks 2.4M Customers’ Data
Internet of Things (IoT) vendor Wyze announced a server leak that exposed the data of 2.4 million customers from Dec. 4 to...
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Security & FraudSynthetic Fraud’s Slow Roll Across FIs
Impersonation fraud — where a cybercriminal pretends to be someone they aren’t in an attempt to make off with funds — gets...
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Security & FraudThe Rise Of Holiday Reshipping Fraud
Criminals get into the holiday spirit, too. For instance, they know how to talk in friendly, polite terms to overworked and often-frustrated...
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Security & FraudDoing Battle With Holiday Fraudsters At The ATM
The holiday season is in full swing. That means opening up wallets and purses at the point of sale, which often means...
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Security & FraudWhy Securing Digital Transactions Is On Every Merchant’s Wish List
While dealing with fraud has always been a cost of doing business for merchants, the digital age has changed the game in...
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Security & FraudFBI Warns Russian Apps Are Subject To ‘Cyber Exploitation’
The Federal Bureau of Investigation (FBI) has issued a warning about mobile apps developed in Russia, saying they could be a “potential...
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Fraud PreventionFighting Real-Time Payment Fraud In Layers, With Moats
Real-time payments, real-time risk. As consumers embrace real-time transactions, financial institutions (FIs) must recalibrate their fraud-fighting strategies. In an interview with PYMNTS,...
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Security & FraudFBI Probing Hack Of US Electricity Providers
The FBI is investigating a hacking campaign that targeted more than a dozen U.S. utilities, some of which are located near critical...
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Security & FraudMalicious Apps Gained Access To Some Facebook, Twitter Users’ Personal Info
After using their accounts to log into specific Android apps downloaded from the Google Play store, Twitter and Facebook noted that the personal information...
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Security & FraudGIACT On Payments’ $29M Wire Fraud Wake-Up Call
Last week, the U.S. subsidiary of Japan’s largest financial media organization, Nikkei, made headlines for the reason that no firm ever wants:...
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Security & FraudCapOne Back Online After Major Outage
Capital One saw an outage on Friday (Nov. 1) that kept some of its customers from accessing their accounts and direct deposits,...
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Security & FraudAmazon, Google Smart Speakers Could Be Breached By Hackers
Security researchers at SRLabs have discovered a new vulnerability that could leave Google and Amazon smart speakers exposed to hackers. “Through the...
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Security & FraudThe Hidden Fraud That Spells Big Marketplace Losses
Everyone loves a good, free introductory offer: the month of free access to a streaming service, the free lift from a ridesharing...
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Security & FraudFacebook App Investigation Leads To Thousands Of Suspensions
Facebook revealed it has suspended “tens of thousands” of apps due to an investigation into how developers use its members’ data. “We...
