PYMNTS

DECEMBER 28, 2020

As the distribution of the COVID-19 vaccine continues to roll out to medical workers and high-risk populations, the Financial Crimes Enforcement Network (FinCEN) is asking financial institutions to be extra vigilant when it comes to cybersecurity. .

Fincen 127

Fincen Suspicious Activity Report (SAR) Scams Federal Trade Commission 127

PYMNTS

APRIL 21, 2020

Ripple announced on Tuesday (April 21) that it is filing a lawsuit against YouTube , alleging that the popular video platform isn’t doing its due diligence to identify and remove crypto-related scams, according to a company blog post. The scams often impersonate legitimate companies and have fake social media accounts.

Scams 96

Scams Due Diligence Cybersecurity Digital Currency 96

PYMNTS

NOVEMBER 22, 2020

A scam involving a supposed customer service representative from Cash App has robbed several people of as much as thousands of dollars, a report from ABC 7NY says. After that, the Better Business Bureau (BBB) issued a scam alert to Cash App customers.

Scams 100

Scams Cybersecurity Blocks Checks 100

Fintech News

JUNE 6, 2024

In recent years, the banking sector in the Association of Southeast Asian Nations (ASEAN) has witnessed a significant surge in scams and fraud activities. DBS isn’t the only bank making news for phishing scams. US$129,841). Losses exceeded S$13 million (US$9.59 Losses exceeded S$13 million (US$9.59

Scams 107

Scams Phishing Deepfake Verification 107

PYMNTS

SEPTEMBER 18, 2020

Nacha , the nonprofit that manages the movement of trillions of dollars in electronic payments, announced the debut of voice payments and cybersecurity resources on Thursday (Sept. It was developed by the Cybersecurity Response Project Team.

NACHA 88

NACHA Cybersecurity Scams Payments 88

The Fintech Times

AUGUST 11, 2024

This increase reflects the platform’s intensified security efforts to combat external hacks and scams. Approximately 80 per cent of these recoveries are linked to hacks, exploits and thefts that occurred outside the Binance platform, with the remaining 20 per cent involving external scams.

Scams 112

Scams Monetary Loss Cryptocurrency Blockchain 112

VISTA InfoSec

APRIL 5, 2024

Operational interruption happens when cybersecurity is breached. Cybersecurity measures such as data encryption, two-step verification, and stringent policies on data access are some of the things that should be implemented in order to minimize online threats. Tainted reputation. Data breaches don’t easily get overlooked.

Best Practices 278

Best Practices Business Continuity Continuity Compromise 278

The Fintech Times

FEBRUARY 17, 2025

Plus, we dive into cybersecurity challenges, proactive AI governance, and the evolving risks of AI-driven scams. From a cybersecurity angle, we discuss how forward-thinking companies are not waiting for regulations but are proactively adopting responsible AI practices. Happy reading! Happy reading!

FinTech 59

FinTech Romance Scams Scams AI 59

The Fintech Times

DECEMBER 11, 2023

Today, we bring you insights from industry leaders regarding the changing dynamics of cybersecurity threats and trends in 2024, including AI’s impact, behavioural biometrics, fraud prevention, masking and enhanced security for financial services. In turn, this often leads to the reuse of the same password across multiple platforms. .

Cybersecurity 107

Cybersecurity Ransomware Authentication AI 107

NACHA

OCTOBER 24, 2024

Nacha’s Payments Innovation Alliance Commemorates Cybersecurity Awareness Month by Releasing Materials to Educate the Public About AI-Based Scams bjaffe@nacha.org Thu, 10/24/2024 - 14:25

Scams 58

Scams Cybersecurity AI Innovation 58

The Fintech Times

FEBRUARY 19, 2025

Feedzai , an AI solution provider in financial crime prevention, is teaming up with payments giant Mastercard , to makeit easier for more banks to identify and stop scams, protecting consumers and businesses globally. As payments continue to evolve, fraudsters are increasingly using AI to scam consumers.

Visa 59

Visa AI Consumer Scams 59

Payments Source

APRIL 1, 2020

s growing panic about the spread of coronavirus has created an open season for fraudsters, with government agencies and cybersecurity companies reporting unprecedented levels of criminal activity since the virus began sweeping across the globe in January.

Scams 104

Scams Cybersecurity Consumer Government 104

PYMNTS

NOVEMBER 28, 2018

Google, the FBI and White Ops, along with a handful of cybersecurity companies, recently collaborated to shut down a digital ad fraud scam that used 1.7 The report noted that Google and several cybersecurity firms said the ad fraud scheme was named 3ve because it relies on three sub-operations.

FBI 51

FBI Scams Cybersecurity Bots 51

PYMNTS

SEPTEMBER 9, 2019

The cybersecurity world is witnessing a potentially new, dangerous threat: according to insurance firm Euler Hermes, one of its corporates fell victim to cyber fraud after attackers used sophisticated artificial intelligence (AI) technology to impersonate the firm’s chief executive officer by mimicking his voice on the phone.

Cybersecurity 72

Cybersecurity Email Compromise Deepfake Crime 72

PYMNTS

OCTOBER 9, 2020

The pandemic has sparked a digital shift of positive changes likely remain in place after the pandemic subsides, but it’s also spawned at least one unwanted thing: a range of new email attacks and scams. Leigh Reichel , new chief financial officer of cybersecurity firm INKY Technology Corp. Top Four Current Scams.

B2B 116

B2B Phishing Scams Ransomware 116

The Fintech Times

APRIL 24, 2024

Mastercard has unveiled a range of AI-powered security solutions and forged industry partnerships with Verizon, NatWest, Entersekt and Global Anti-Scam Alliance in a mission to tackle the rise of scams and impersonation fraud. million thefts during the first half of 2023 – the equivalent of one every 12 seconds.

Fraud Prevention 105

Fraud Prevention Visa AI Scams 105

The Fintech Times

OCTOBER 3, 2024

In the UK, 36 per cent of residents have fallen victim to phishing scams in the last six months alone – leaving digital transformation consultancy Daemon to urge retailers to bolster their cybersecurity efforts. Fraud issues show no sign of slowing down across the globe.

Cybersecurity 59

Cybersecurity Identity Theft Phishing Scams 59

The Fintech Times

DECEMBER 6, 2024

To combat fraud , organisations are committing more resources to cybersecurity measures. Over the past 12 months, 58 per cent of surveyed SMEs said they had to deal with phishing scams. Consequently, Mollie found that nine in 10 SME senior c-suite executives are concerned for the survival of their company.

Account Takeovers 80

Account Takeovers Phishing Small Business Cybersecurity 80

The Fintech Times

MARCH 31, 2025

It found that fraud poses a substantial threat to Europe’s financial industry, with an estimated $103.6billion in losses resulting from various scams and bank fraud scenarios.

Cross-Border 64

Cross-Border Addressing Financial Crimes Elder Abuse 64

The Fintech Times

FEBRUARY 3, 2025

Account takeover scams saw a dramatic increase of 250 per cent last year. Victims of these scams not only face financial losses, averaging about $180 per incident, but 40 per cent also suffer from subsequent identity theft.

Deepfake 81

Deepfake Account Takeovers Identity Theft Verification 81

PYMNTS

FEBRUARY 20, 2019

The cybersecurity company analyzes data from its Global Intelligence Network, which records events from 123 million attack sensors worldwide, and blocks 142 million threats daily and monitors threat activities in more than 157 countries. Symantec found that formjacking has become a preferred get-rich-quick scam among bad guys.

Scams 69

Scams Identity Theft Compromise Ransomware 69

The Fintech Times

FEBRUARY 16, 2024

Many consumers across the UK are falling to scams originating from Meta platforms: Facebook , Instagram and WhatsApp. According to Revolut , the UK neobank, 33 per cent of money lost to scams in total originated on these platforms. To better protect its consumers, the neobank has launched an advanced scam detection feature.

Scams 72

Scams Push-to-Card Financial Crimes Origination 72

PYMNTS

OCTOBER 1, 2020

Mitiga is working with law enforcement after uncovering a widespread business email compromise (BEC) scam that has netted more than $15 million. BEC scams have been surging in 2020, with a 200 percent increase in reports between April and May this year, PYMNTS reported.

Business Email Compromise 73

Business Email Compromise Scams Email Compromise Wire Transfer 73

PYMNTS

JULY 27, 2020

This week’s Data Digest looks at the latest in B2B payments fraud and the invoice’s role in supplier payment redirect scams, credential theft and more. 43 percent of employees admit to mistakes that have caused cybersecurity repercussions, a new study has found, according to OnRec reported. In a survey of 1,000 U.K.

Law Enforcement 101

Law Enforcement Scams Phishing B2B 101

PYMNTS

FEBRUARY 1, 2021

The scam involves sending a phishing email claiming to be a Microsoft Office 365 update. At least 44 percent of the 2020 data breaches examined in the report involved phishing or BEC scams, while 694 businesses reported having been impacted by cyberattacks on their supply chains last year.

Data Breach 136

Data Breach Breach Business Email Compromise Scams 136

PYMNTS

NOVEMBER 18, 2019

Cybersecurity experts are warning that the next year, and beyond, will continue to present an elevated threat level to businesses at risk of payments fraud — and governments are taking steps to react accordingly. cybersecurity technology companies are taking measures to raise awareness and combat corporate payment fraud risks.

Business Email Compromise 51

Business Email Compromise Scams Email Compromise Compromise 51

Neopay

JANUARY 22, 2025

Fraudsters are exploiting GenAI tools such as large language models (LLMs), voice cloning, and deepfakes to carry out increasingly sophisticated scams that are harder to detect and prevent. of all detected fraud attempts in the financial and payments sector, marking a critical turning point for cybersecurity.

AI 59

AI Deepfake Phishing Audit 59

PYMNTS

FEBRUARY 3, 2020

The accused allegedly tapped a network of 49 shell firms for the business to business (B2B) scam that defrauded the government. When it comes to B2B payment scams , it’s not only outsiders but entities’ own internal personnel that is often the cause of fraudulent activity.

Scams 52

Scams B2B Email Compromise Business Email Compromise 52

Fintech News

JANUARY 17, 2024

Sophisticated scams dominate the fraud landscape BioCatch’s report uncovers a startling surge in financial cybercrime in Asia-Pacific. With scams accounting for 54 percent of all cases, there’s a 200 percent increase in voice scams from the previous year.

Deepfake 122

Deepfake APACS Scams Authentication 122

PYMNTS

JULY 30, 2018

A phishing scam making the rounds and targeting businesses is using the Square name to fool its targets. The Advocate also noted that a way to avoid falling victim to the scam is to verify the URL. Using financial services companies’ names and logos to commit scams is a common tactic for cybercriminals. “By

Phishing 51

Phishing Scams Business Email Compromise Email Compromise 51

PYMNTS

AUGUST 17, 2020

In this week’s Data Digest, PYMNTS rounds up the latest cases and research into how corporates are being targeted with crimes like the business email compromise (BEC) scam, as well as how they’re fighting back. The year-over-year cybersecurity budget increase amounts to an average spend of $2,691 per employee.

Business Email Compromise 94

Business Email Compromise Federal Trade Commission Scams Cybersecurity 94

The Fintech Times

NOVEMBER 20, 2024

In fact, 75 per cent of US shoppers will encounter scams when looking to buy things online. In an attempt to ensure consumers do not fall victim, the Financial Technology Association (FTA) is launching its annual campaign, Smarter Than Scams. It also brings awareness to the most common scams consumers face during the holiday season.

Scams 64

Scams Romance Scams Technology Venmo 64

Fintech Finance

APRIL 24, 2024

Verizon , NatWest and Global Anti-Scam Alliance collaborate with Mastercard to tackle fraudsters and fight against scams. billion to internet scams in 2023 alone. Mastercard is also partnering with organizations across the ecosystem to fight scams. According to the FBI, across the United States people lost $12.5

Scams 52

Scams Visa AI Consumer 52

PYMNTS

JANUARY 13, 2020

This week, however, a rundown of the latest B2B payment scams finds that it’s not only external bad actors, but entities’ own internal personnel that is often the cause of fraudulent activity. The scam reportedly lasted about five years, and the former bookkeeper has now been charged with felony theft.

B2B 89

B2B Wire Transfer FBI Cybersecurity 89

The Fintech Times

JULY 10, 2024

This decision aims to fortify the defence against phishing scams, a persistent threat in the digital banking landscape. Phishing scams were among the top five scam types last year, with at least $14.2million lost to these scams, according to Singapore Police Force Annual Scams and Cybercrime Brief 2023.

Phishing 59

Phishing Scams Authentication Financial Crimes 59

The Fintech Times

JUNE 24, 2024

As many as 15 million Brits could have fallen victim to scams in the past 12 months, according to new research from Wise , the international money app. Among those hit by scams, 17 per cent reported a significant financial impact, with 10 per cent even having to delay retirement plans as a result.

Scams 64

Scams Fraud Prevention Financial Crimes Crime 64

Fintech News

FEBRUARY 15, 2024

Value received by illicit crypto addresses dropped significantly in 2023, driven by a decline in crypto scamming and hacking revenue by 29.2% In particular, the report notes that scamming is most successful when markets are up, exuberance is high, and people feel like they are missing out on an opportunity to get rich quickly.

Ransomware 116

Ransomware Crime Transactions Romance Scams 116