Fintech News

APRIL 22, 2024

While this digital transformation offers undeniable convenience, it also introduces new challenges to mobile security in Indonesia Malware and phishing attacks pose a significant threat to the integrity and security of financial platforms, jeopardising both user data and financial security. A 2023 report by Kaspersky found that 40.8%

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Phishing Security Blocks Cybersecurity 86

PYMNTS

AUGUST 15, 2018

While it seems that Savedroid Founder Yassin Hankir pulled off a fake “exit scam,” the real ones are becoming a problem. News came this week that, according to one analysis, ICO exit scams have taken almost $100 million from investors. Why are these purported scams happening? In fact, Kaspersky arrived at its $2.3

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Phishing Scams Disputes Digital Currency 76

Payments Source

FEBRUARY 7, 2019

Today phishing scams have become so elaborate that they can take a variety of forms, including a phony job interview.

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PYMNTS

MARCH 2, 2020

Barbara Corcoran, a judge on the popular TV show “ Shark Tank ,” said she is “thrilled” about getting back almost $400,000 that she lost during a phishing email scam, according to reports. Scamming and phishing are increasingly more common; about 114,000 people admitted they were scam victims last year alone.

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Phishing Scams Wires Wire 60

PYMNTS

APRIL 24, 2020

BleepingComputer.com reports that the Coronavirus Aid, Relief and Economic Security (CARES) Act has triggered the latest round of scams. . The phishing expedition, as explained by AbnormalSecurity.com , requests the recipient’s signature for PPP documents. Another scam attempts to collect online banking account information.

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Phishing Scams IRS Law Enforcement 63

Fintech News

JULY 9, 2024

Announced by the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS), this move aims to better protect customers from phishing scams. Phishing scams were among the top five scam types last year, with at least S$14.2

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Phishing Scams Online and Mobile Banking Credential 86

PYMNTS

AUGUST 24, 2020

In a case that highlights how anybody — truly, anybody — can be a victim of invoice fraud, federal officials have reportedly charged two brothers in New York State for an alleged $19 million scam targeting Amazon. Attorney Audrey Strauss described the scam as "a new twist on an old trick" through the use of "complex technology.".

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Scams Business Email Compromise Ransomware Email Compromise 119

Fintech News

SEPTEMBER 17, 2024

Major retail banks in Singapore will progressively implement Singpass Face Verification (SFV) over the next three months in a concerted effort to bolster security against phishing scams. While banks will continue to do their part to fight scams, customers need to be vigilant themselves and practice good cyber hygiene.”

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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.

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PYMNTS

JANUARY 23, 2020

Many of these data breaches are the result of phishing, which dupes victims into giving up login credentials or other sensitive information that is either used for account takeovers or sold on dark-web marketplaces. Online scams were the most prevalent, consisting largely of fake money-transfer requests that affected 63 percent of consumers.

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Phishing Data Breach Breach Scams 64

Seon

OCTOBER 2, 2023

We look at how refund scams work and how the right precautions can stop them from damaging your business. What Are Refund Scams? Refund scams involve a criminal tampering with a POS (point of sale) terminal so it sends them an unwarranted refund. How Do Refund Scams Work?

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CoinRemitter

SEPTEMBER 22, 2023

What is a phishing attack? The cyber phishing attack is intended to trick individuals into submitting/giving up sensitive information (such as private keys, passwords, etc.). But they may steal and misuse your sensitive information to execute their intended crypto scam.

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Phishing Smishing Credential Scams 40

FICO

FEBRUARY 23, 2022

That threat is fraud scams – tactics and techniques that fraudsters are using to trick people into giving away their money. The financial impact of scams is staggering indeed: in the UK alone, authorised push payment (APP) scams accounted for £479 million in gross losses in 2020. Fortunately, it’s not all gloom and doom.

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PYMNTS

AUGUST 28, 2018

Phishing scams remain one of the most popular ways a cyberattacker can target a small business. But the phishing scam is also evolving to target the C-suite itself. Employees should be trained to identify phishing scams, but the whaling tactic highlights the need for businesses to train their leadership teams, too.

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Phishing Scams Small Business Cybersecurity 40

Finextra

NOVEMBER 30, 2023

This is a strong defence against malware and phishing scams. From 30 November 2023, 2 million OCBC Singapore customers will be able to lock funds in their existing OCBC bank accounts using OCBC Money Lock to safeguard against unauthorised transfers.

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PYMNTS

AUGUST 3, 2020

The Financial Crimes Enforcement Network (FinCEN) issued a press release warning financial institutions (FIs) and consumers about pandemic-related scams, including some connected to cryptocurrency. ” That includes malware and phishing schemes, extortion, business email compromise and more, sometimes involving demands for cryptocurrency.

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PYMNTS

MAY 28, 2020

These threats reflect a resurgence in hacking and phishing attempts by cyber criminals as the commercial and government-backed attackers try to seize opportunities for scams amid the COVID-19 pandemic, Google wrote. Google said it provides the strongest protections available against phishing and account hijackings.

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PYMNTS

AUGUST 2, 2019

To combat fraud — especially phishing — united we stand? As noted in the latest Digital Fraud Tracker , phishing attacks are up 76 percent this year compared to last year. Verizon has estimated that 30 percent of phishing messages are opened by their intended targets.

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Phishing Scams IRS Request for Information 79

Center for Payments

NOVEMBER 21, 2023

The FBI works to raise awareness of the types of scams that are common around the holidays and how you can protect yourself and your customers or members. Charity Scams Scammers are aware of the “giving season” and will often create fake crowdfunding campaigns and charities to exploit people’s goodwill.

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Holiday Scams Scams FBI Federal Trade Commission 40

PYMNTS

DECEMBER 28, 2020

Further, FinCEN said phishing schemes could surface targeting people with fraudulent vaccine information, the sale of unapproved and illegally marketed vaccines and the sale of counterfeit versions of approved vaccines. There have already been ransomware attacks aimed at medical research facilities working on vaccinations.

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

PYMNTS

JUNE 7, 2018

A phishing scam purporting to come from Apple is the most popular that we’ve seen,” Security Boulevard said. “It The criminal theory goes like this: Consumers are too numb or fatigued to give the message a close look, increasing the odds that enough of them will type in data to make the scam profitable for those on the other end.

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BioCatch

NOVEMBER 8, 2023

The Monetary Authority of Singapore (MAS) and Infocomm Media Development Authority of Singapore (IMDA) have just announced a consultation for the Shared Responsibility Framework for Phishing Scams. MAS and IMDA are looking for industry response to the consultation by December 31, 2023.

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PYMNTS

FEBRUARY 13, 2020

million after it was the victim of an email phishing scam, according to the AP. Laboy did not share how the phishing scam was discovered, or if anyone was fired. The government of Puerto Rico lost $2.6 Manuel Laboy, executive director of the agency, said the mishap was reported to the FBI as soon as it was discovered.

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FICO

MARCH 29, 2020

Phishing attacks are on the rise, with fraudsters posing as legitimate organizations such as the World Health Organization in an attempt to get you to click links or open attachments that will install malware and steal information. Bear in mind fraudsters may be going door to door for scams such as disinfecting homes to gain access to a home.

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Fintech News

JANUARY 10, 2024

In a broader strategy to combat increasingly sophisticated digital banking scams, MAS is collaborating with financial institutions, industry experts, and government agencies. ” MAS and Infocomm Media Development Authority (IMDA) have been working on a Shared Responsibility Framework (SRF) for phishing scams.

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PYMNTS

DECEMBER 17, 2020

The “stimulus” scams are already out there, reports NBC News. This scam is a new twist on those we’ve been seeing much of this year.”. The IRS is encouraging consumers to screenshot these fraudulent texts and email them to the agency at phishing@irs.gov. PIRG Education Fund, told CNBC. “We We all need to be on our guard.

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PYMNTS

JUNE 1, 2020

Google issued a stark warning last week about the state of cybersecurity: Phishing attacks are on the rise and continue to take advantage of vulnerabilities resulting from the global pandemic. As the threat of B2B payments fraud persists, PYMNTS looks at the data behind some of the other latest cases of such digital scams.

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FICO

JUNE 15, 2023

Home Blog Feed test To Stop Scams, It’s Time to Add Sensible Friction to Easy Money The convenience and speed of real-time payments makes it easy for fraudsters to scam individuals. Fraudsters love this change and have been scamming consumers and businesses at full speed with all sorts of sneaky, dirty tricks.

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Scams Real Time Payments Smishing Same Day ACH 52

PYMNTS

APRIL 9, 2019

A new type of phishing scam targets the HR departments of companies and asks for reroutes on direct deposit accounts, CNBC reported. KVC Health Systems, a child welfare nonprofit based out of Kansas City, has been hit with the scam. Last year, the Internal Revenue Service warned that scams like this were on the rise.

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Direct Deposit Scams Wires Wire 83

PYMNTS

APRIL 22, 2020

Since Tuesday (April 21), the DOJ said the FBI’s Internet Crime Complaint Center (IC3) has reviewed more than 3,600 complaints related to COVID-19 scams. The sites were used as phishing schemes, authorities said. Department of Justice (DOJ).

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PYMNTS

APRIL 3, 2018

Experts say an employee phishing scam is likely to blame for the data breach affecting millions of Saks Fifth Avenue and Lord & Taylor payment cards. Separate reports by the Associated Press also pointed to an email phishing scam as the likely culprit.

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PYMNTS

JUNE 23, 2016

Small business accounting platform Xero has introduced an upgrade that aims to make transactions between businesses more secure amid rising phishing scams. The company said doing so is more secure than sending bills via email, as users cannot make changes to these documents unless they sign into the Xero portal.

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Phishing Scams Online and Mobile Banking Small Business 40

PYMNTS

FEBRUARY 1, 2021

40 legitimate email accounts of company executives have been compromised in a phishing campaign targeting businesses , according to Gov Info Security reports. The scam involves sending a phishing email claiming to be a Microsoft Office 365 update.

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The Paypers

FEBRUARY 8, 2019

(The Paypers) UK-based supermarket Tesco has warned customers over a new text message phishing scam, which uses car number plates to con victims out of money.

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FICO

FEBRUARY 23, 2022

That threat is fraud scams – tactics and techniques that fraudsters are using to trick people into giving away their money. The financial impact of scams is staggering indeed: in the UK alone, authorised push payment (APP) scams accounted for £479 million in gross losses in 2020. Fortunately, it’s not all gloom and doom.

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Scams Consumer Fraud Detection Smishing 52

Finextra

MAY 7, 2024

Scott Olson, CMO, Outseer, taps into insights from their upcoming ‘Global Fraud and Scams Trend Report’ to explore what has exerted the most significant influence on fraud threats and mitigation since 2023.

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PYMNTS

JANUARY 27, 2020

Fraudsters are adding new twists to what has become an increasingly common scam targeting businesses’ B2B payments activity. Separate analysis from Singapore warned that monetary losses associated with BEC scams that specifically instruct targeted employees to send gift card redemption details are on the rise, too.

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