security & fraud

DHS Says SEC Computers Have Five Critical Cyber Security Weaknesses

It turns out even the Securities and Exchange Commission’s (SEC) computers aren’t super secure, even following a breach last year, according to...

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Equifax CEO To Explain Leak To Congress

Members of Congress are getting ready to grill Equifax CEO Richard Smith, who is set to testify about his company’s massive data...

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Wells Fargo CEO To Appear Before Congress

Wells Fargo, the embattled bank, will have its Chief Executive Tim Sloan testify in front of Congress early next month. According to...

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SEC Reveals EDGAR Database Was Hacked

The U.S. Securities and Exchange Commission faced criticism Thursday (Sept. 21) over its cybersecurity practices and disclosures after it revealed its EDGAR...

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FTC Fines Mobile App Pact For Charging Customers Who Met Exercise Goals

The Federal Trade Commission (FTC) announced Thursday (Sept. 21) it had settled with mobile app company Pact which promised cash incentives to...

New App Detects ATM Skimmers At The Pump

Sparkfun has created a new app that gives off alarms if a skimmer is nearby at a gas station. The app, dubbed Skimmer Scanner,...

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CFPB Cracks Down On Deceptive Lender Who Targeted 9/11 First Responders

The Consumer Financial Protection Bureau announced Tuesday (Sept. 19) that it took action against Top Notch Funding and two individuals associated with...

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CFPB Could Have Gotten A Lot More In Fines From Wells Fargo

Last year, Wells Fargo faced fines of as much as $10 billion from the Consumer Financial Protection Bureau, but instead settled for...

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Legal

Uber Sues Fetch Media For Fraudulent Ads

Uber has filed a lawsuit against Fetch Media, accusing the mobile ad company of improper billing for fraudulent ads and falsely taking...

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Equifax Lets Go Of Two Execs; Wealthy Victims Could Be At Risk After Breach

In the wake of the massive data breach at Equifax, the embattled credit scoring company announced that the Chief Information Officer, David...

Bitcoin

Dubai Financial Services Authority The Latest To Warn Against ICOs

The Dubai Financial Services Authority (DFSA) warned investors on Wednesday (Sept. 13) that initial coin offerings (ICOs) are complex and risky, joining a growing list...

Authentication

ICBA Partners With CardinalCommerce For Cardless Authentication

ICBA Bancard, the payments services unit of the Independent Community Bankers of America (ICBA), announced Wednesday (Sept. 13) a new partnership with...

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Equifax CEO Vows To Make Changes, Protect Consumers In Wake Of Breach

Equifax Security chairman and chief executive officer Richard Smith recently penned an Oped in USA Today in which he vowed to provide...

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Synthetic Identity Theft On The Rise

A new type of credit card fraud is emerging, dubbed “synthetic identity theft.” In instances of synthetic identity theft, cybercriminals create new...

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Fraud Attack

Beijing Court Sentences Mastermind of Ezubao Scam To Life In Prison

A court in Beijing handed down a life sentence for the mastermind behind the $9 billion Ezubao financial Internet scam and sentenced...

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Bank Regulation

CFPB Gets $14M In Relief For Deceived Consumers Since Start Of Year

The Consumer Financial Protection Bureau announced Tuesday (Sept. 12) that recent supervisory actions resulted in $14 million in relief to more than...

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Bank Regulation

Wells Fargo CEO Says Cost Controls Are Improving At The Bank

Tim Sloan, CEO of Wells Fargo & Company, said Tuesday (Sept. 12) that the company is improving its cost controls in relation...

Bank Regulation

TCF Bank Sees Partial Ruling In Its Favor In Overdraft Fees Case Lodged by CFPB

Late last week, regional bank TCF Financial Corporation saw a judge dismiss some of the claims lodged against it by the Consumer...

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Avast Sees 40 Percent Uptick In Hacks Targeted At Android Devices

Digital security products company Avast announced new research Monday (Sept. 11) that shows an increase in the number of cyberattacks on Android...

Safety and Security

Senators Want Answers From Equifax CEO About Data Breach

Equifax, the latest company to be embroiled in a massive data breach, is facing questions from two top U.S. senators on both...

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Equifax Hack Impacts 143 Million Customers

Credit scoring company Equifax announced Thursday (Sept.7) it had experienced a cybersecurity incident that may have impacted approximately 143 million consumers in...

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International

Philippine DOJ Wants Former Bank Manager Charged In Bangladesh Heist

The Department of Justice in the Philippines has recommended that charges be lodged against a former bank manager who allegedly helped launder...

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Yahoo Lawsuit Over Data Breaches Can Go Forward

Internet search browser company Yahoo, which was sold to Verizon Communications, will face a nationwide lawsuit lodged against it on behalf of...

High Court To Indian Government: Citizens Have Right To Privacy

The Indian government could face a setback to its controversial biometric identification program in light of the country’s latest supreme court ruling....

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Bitcoin

First Bitcoin Capital Trading Suspended By SEC

The Securities Exchange Commission (SEC) announced Thursday (Aug. 24) it has temporarily suspended trading in the securities of Canada-based company First Bitcoin...

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Australia Blames eCommerce, Bitcoin For Uptick In Organized Crime

Australia is blaming the growth in online banking and digital currencies like Bitcoin for a huge increase in organized crime in the...

Mizuho Taps IBM Japan To Enhance Its Risk Management Efforts

Mizuho Bank and IBM Japan announced Thursday (Aug. 24) Mizuho Bank had begun operations toward more advanced and efficient risk management. The financial...

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IRS Warns Of Big Uptick In W2 Email Phishing Scams

The Internal Revenue Service (IRS) is warning about a cyber crime increase in the number of email phishing scams aimed at gathering...

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News

Nigerians Pay Billions In Bribes — But Why?

Nigeria’s public officials are reportedly making billions of dollars from bribes each year. According to a report in the Wall Street Journal...

Kaspersky Lab Finds New Version Of Faketoken Aimed At Ride Hailing Customers

Kaspersky Lab announced Thursday (Aug. 17) it has discovered a new modification of the Faketoken Android Trojan, a mobile banking Trojan that...

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Survey Says Security Professionals Doubt Effectiveness of Encryption Backdoors

Venafi, the provider of machine identity protection, announced Thursday (Aug. 17) that, based on survey results, the majority of IT security professionals...

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Worldwide IT Security Spending To Hit $86.4B This Year

Worldwide spending on information security products and services will reach $86.4 billion in 2017, marking a seven percent increase over 2016. That’s...

Mastercard

UK Attorney Wants Permission To Appeal Mastercard Verdict

Quinn Emanuel Urquhart & Sullivan, the law firm that lodged a £14 billion consumer collective action against Mastercard, is gearing up to appeal...

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BoA Testing Samsung Iris Tech For Authentication

Bank of America is reportedly launching a pilot of Samsung Electronics technology that will enable customers to access the mobile banking app...

Retail

Amazon Halts Sales Of BLU Smartphones

Amazon, the eCommerce giant, has halted sales of low-cost smartphones from Miami-based BLU over security concerns. According to a report, Amazon is...

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Fraud Prevention

Prosper Gets Rid Of App Designed To Protect Identities

Prosper Marketplace, the online lender, is reportedly getting rid of its Prosper Daily mobile app, which enabled customers to monitor their personal...

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US Lawmakers Want US Agencies To Provide Information On Kaspersky Lab

Russian cybersecurity company Kapersky Lab is under fire as a U.S. congressional panel requests 22 internal government agencies share information on the...

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VPN Apps Removed From Apple’s China App Store

Apple has reportedly removed VPN apps from its store in China. Virtual private networks (VPNs) could enable users to access China’s uncensored...

Ransomware Hacks Costs Exceed $25M

With ransomware cyberattacks raging, companies and individuals have paid out more than $25 million during the course of the last two years...

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Barclays Reveals Client Names To German Finance Agency

Barclays, the U.K. investment bank, has reportedly revealed the names of clients as well as trading information to the German Finance Agency...

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Mastermind Behind BTC-e Virtual Currency Exchange Arrested In Greece

Alexander Vinnik, the 38-year-old Russian man who is accused of being behind the BTC-e virtual currency exchange and bitcoin laundering $4 billion...

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Wells Fargo Faces Scrutiny Over New Data Breach

Wells Fargo, reeling from a fake account scandal, is facing more regulation scrutiny due to the unauthorized release of client data on...

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Awake Security, Cybersecurity Startup, Launches With $31M

Awake Security announced news on Monday (July 17) that it has closed more than $30 million in funding from venture capital (VC)...

Indians Call For More Stringent Data Protection Laws

The government is India is facing calls to establish better cybersecurity laws to protect consumers’ data after fears have crept up that...

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Deep Instinct Raises $32M In Venture Funding

Deep Instinct, the cybersecurity company, announced Wednesday (July 12) it has raised $32 million in Series B financing. In a press release...

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Avanti Markets Malware Attack Included Biometric Information

Avanti Markets, a micro-market provider selling snacks at businesses and boasting more than 1.6 million customers, is the latest to get hit...

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Partnerships / Acquisitions

Trump Says He Discussed Cybersecurity With Putin

Over the weekend, U.S. President Donald Trump revealed on Twitter that he and Russian President Vladimir Putin have discussed the possibility of...

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Symantec Beefs Up Its Security Offerings With Fireglass Buy

Symantec, the cybersecurity company, made news on Thursday (July 6) with its acquisition of Fireglass, the Israeli agentless isolation solution startup. In...

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