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Banks Reinforce Protections As Cybercriminals’ Tactics Evolve

PYMNTS

Consumers, of course, are ever-more dependent on digital connections and correspondence in the midst of economic headwinds and the public health crisis. “As Consumers should also take pains not to re-use passwords and strive to use good credential management.

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Anomali Identifies Scam To Steal Gov’t Procurement Site Credentials

PYMNTS

An unidentified group is reportedly putting much effort into a complicated scam to steal the login credentials of government personnel. The victim is then offered a choice of logging in through email credentials from providers such as Google, Microsoft and Yahoo. Anomali, a security firm, says it has found bogus websites of the U.S.,

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Hack Costs Russian Central Bank $31M

PYMNTS

In one of the latest salvos of cybertheft — this time not by Russians but against Russians — hackers have made off with roughly $31 million from correspondent accounts housed at the Russian central bank, NBC News reported. They gained access to the accounts by faking credentials, said the official.

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At WWDC Login With Apple And The App Store For Apple Watch Announced

PYMNTS

Developers going forward will be able to create stand-alone apps for the device — the requirement for a corresponding iPhone/iPad app for support is dropping away. Apple CEO Tim Cook noted Apple was “also excited to announce that the App Store is coming to the Apple Watch” — presumably to support all those new stand-alone apps.

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How Banks Are Using AI, ML To Fight Account Opening Fraud

PYMNTS

billion stolen credentials. Account opening fraud is a favorite tactic among such cybercriminals, many of whom rely on these credentials to pose as legitimate customers. This has become a larger problem for FIs as they must not only deal with protecting customers from fraud, but also guard against bad actors armed with 4.1

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 How To Cut The Phishing Lines That Bind Us

PYMNTS

And, said Xie, the fraudsters have been careful to calibrate their email and text communications to be serious and official in language (such as in correspondence purported to be from a bank, complete with official signature fields) or more colloquial (such as a text masquerading as being from a co-worker) in order to snare victims.

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FPC 2023 Spring Member Meeting

Faster Payments Council

For example, fraudsters are attacking consumers and businesses through sophisticated social engineering or other techniques, tricking individuals or businesses into disclosing account credentials or making payments to accounts they control. Panelists will provider perspectives on correspondent banking strategies.

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