Fintech News

NOVEMBER 10, 2024

The payment ecosystem is grappling with a rapidly evolving fraud landscape, characterized by a sharp rise in purchase return authorization (PRA) attacks, increasingly sophisticated ransomware schemes and the growing misuse of artificial intelligence (AI) by cybercriminals, a new report by Visa Payment Fraud Disruption (PFD) says.

Ransomware 116

Ransomware Data Breach Scams AI 116

Global Fintech & Digital Assets

DECEMBER 11, 2023

The changes impose more demanding requirements for larger entities, new obligations to report ransomware incidents and payments, and expanded oversight responsibilities for board and senior management. The Amendments also require a covered entity to report within 24 hours any extortion payment made in response to a ransomware attack.

Cybersecurity 59

Cybersecurity Multifactor Authentication Risk Assessment MFA 59

PYMNTS

JULY 26, 2017

Phishing, ransomware, business email compromises, data theft and denial-of-service tactics can be especially harmful to FIs, and not only threaten the bank, but put the FI’s entire supply chain at risk, too.

OCC 46

OCC Office of the Comptroller of the Currency Money Laundering Non-Bank 46

Fintech News

APRIL 21, 2025

The renewed focus comes amid wider concerns following the ransomware attack on Toppan Next Tech earlier this month, which affected major clients including DBS Bank and Bank of China. While the incident was not directly referenced by MAS or CSA, it highlights the vulnerabilities posed by third-party service providers.

Cybersecurity 113

Cybersecurity Third Party Vendors Third-Party Service Provider Ransomware 113