Fintech News

AUGUST 19, 2024

The syndicate was responsible for laundering proceeds from scams, including technical support scams in Singapore and other fraudulent activities in Hong Kong. Between January and July 2024, the SPF received 185 reports of technical support scams, resulting in losses exceeding S$ 17.9

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Scams Money Laundering Cross-Border Phishing 114

BioCatch

SEPTEMBER 18, 2024

Whether through phishing emails and text messages or social media, the biggest cyber threat facing banking customers today is the rise of sophisticated social engineering frauds. There is no escape.

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Phishing Deepfake Scams Security 40

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 106

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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Phishing Scams Mobile Payments Digital Payments 150

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 Wire Wires 60

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

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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Scams Phishing Security Accounts 40

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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Verification Scams Financial Crimes Phishing 108

Fintech Finance

OCTOBER 18, 2024

Mastercard has partnered with noon Payments , one of the biggest payment service providers in the Middle East and North Africa, to bring its Payment Passkey Service to the region and accelerate secure online checkout for shoppers. They offer consumers the peace of mind that they will not lose or inadvertently share their password or OTP.

Visa 96

Visa Scams Payments Push-to-Card 96

Stax

MARCH 4, 2024

To stay ahead of fraud means merchants must understand the threats, use trusted and secure providers, and keep up to date on payment security trends. So, let’s dive into payment security, touching on the basics of what you need to know to ensure secure payments. billion digital wallet users, or 42.6%

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PCI DSS Payment Security Security MFA 88

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

Fintech News

SEPTEMBER 22, 2024

Global highlights: January – December 2023, Source: Confidence Amid Chaos: Managing Fraud and Scams with Data and Analytics, LexisNexis Risk Solutions In financial services, new account creation attacks increased by 12% YoY, driven by increases on the mobile channel, primarily mobile browser. Despite this high volume. of all cases.

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Accounts Scams Bots Account Takeovers 142

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

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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Phishing Scams Business Email Compromise Email Compromise 51

Fintech News

JANUARY 24, 2024

The enhancement is a response to growing concerns over digital security threats, such as malware and phishing, which have become prevalent in the online banking space. The total amount of funds secured through this service has surpassed S$3.3

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Security Deposit Account Phishing ATM 106

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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Scams Phishing Fraud Prevention Returns 52

PYMNTS

MAY 28, 2020

Google’s security experts had their hands full in April, as its Threat Analysis Group ( TAG ) emailed 1,755 warnings to users whose accounts were targets, the California-based global technology company wrote on its blog Thursday (May 27). Google said it provides the strongest protections available against phishing and account hijackings.

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Phishing Law Enforcement Scams Credential 70

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 Fraud Detection Smishing Fraud Prevention 98

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

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. However, the perception of payment security varies significantly by age.

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Cybersecurity Identity Theft Phishing Scams 59

PYMNTS

JUNE 6, 2019

Security experts are warning about a phishing scam that can help hackers bypass two-factor authentication (2FA). The attack was demonstrated for the first time at the Hack in the Box Security Conference in Amsterdam last month, according to Fortune.

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Scams Credential Security Phishing 58

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. Before the Inbox.

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Phishing Scams IRS Request for Information 79

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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Fincen Scams Email Compromise Phishing 88

Fintech News

JANUARY 10, 2024

This security measure allows customers to isolate a portion of their funds, making them inaccessible for digital transfers, thereby adding a crucial layer of protection against cyber fraud. ” MAS and Infocomm Media Development Authority (IMDA) have been working on a Shared Responsibility Framework (SRF) for phishing scams.

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Accounts Scams Phishing Payee 106

VISTA InfoSec

FEBRUARY 25, 2024

This guide makes sensitive cybersecurity concepts approachable to enable smarter decisions in securing your systems against catastrophe. Most data breaches boil down to security failures and human error. Best Practices For Prevention Ultimately, consistent vigilance and proactive security safeguards offer the best breach protections.

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Data Breach Breach Multifactor Authentication Cybersecurity 223

PYMNTS

JUNE 7, 2018

Security Boulevard reported this week (June 6) that in the wake of the new digital security rule taking effect, criminals were quick to use it to their advantage. A phishing scam purporting to come from Apple is the most popular that we’ve seen,” Security Boulevard said. “It

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Phishing Scams Regulations Rules 43

The Fintech Times

SEPTEMBER 21, 2024

This process aims to make it more difficult for scammers to take over a customer’s DT by setting it up on his own device using phished credentials such as an SMS, one-time passwords (OTPs) and/or bank card information. “MAS will continue to work closely with banks on measures to protect customers against scams.

Verification 72

Verification Scams Financial Crimes Crime 72

Fintech Finance

AUGUST 29, 2024

During a keynote presentation at Global Fintech Fest in Mumbai, Mastercard announced the worldwide launch of its new Payment Passkey Service to make online shopping more secure and easier than ever. Through innovative technology that enhances security and convenience, we’re creating a more transparent commerce ecosystem for all.

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Visa Security Authentication Payments 105

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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Scams IRS Federal Trade Commission FTC 84

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 Wire Wires 83

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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Scams Tax Refunds Phishing Wire Transfer 92

Fintech News

APRIL 2, 2024

billion of savings securely set aside as of March 2024. This initiative, aimed at providing customers with enhanced protection against digital scams, allows individuals to block online access to a portion of their funds.

Accounts 106

Accounts Scams Phishing Blocks 106

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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Phishing Continuity Data Breach Cybersecurity 59

The Payments Association

OCTOBER 22, 2024

As fraud continues to rise, especially with the emergence of AI-powered scams, is this new regulation enough to tackle the ever-evolving threat of financial fraud? As scams become more advanced, even the most cautious consumers are falling victim. Avoiding common fraud schemes requires vigilance and awareness from individuals, too.

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Rules Fraud Prevention Deepfake Caps 88

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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Phishing Scams FBI Governance 52

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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Data Breach Breach Business Email Compromise Scams 136