2021 has been a dynamic year for fraud and financial crime, and the events that have emerged out of the quickly changing risk landscape continue to create new vulnerabilities for financial services organizations (FSOs).
Key fraud and AML trends of the past year have been particularly prevalent and are positioned...
A dual U.S.-Canadian national has been sentenced to more than 11 years in federal prison for conspiring to launder tens of millions of dollars in wire and bank fraud schemes, according to the U.S. DOJ. Officials say the activity included cash-out scams for North Korean cybercriminals.
Mastercard says that starting in 2024, banks and other institutions that issue its credit and debit cards will no longer need to include a magnetic stripe on the back, and that by 2033, m
agnetic stripes will be extinct. Given magnetic stripes' many security downsides, what's taken so long?
Allegiant characterizes itself as more of an e-commerce company than an airline, because 94% of its revenue comes through the website. As such, they needed another level of data security.
Download this case study to learn how Allegiant changed its security practices by:
Deploying Voltage SecureData with Secure...
A Ukrainian national who admitted to working as a system administrator and IT manager for the notorious FIN7 cybercriminal gang, which has been involved in the theft of millions of payment cards, has been sentenced to 10 years in federal prison.
Criminals continue to target ATMs with black boxes to run cash-out attacks and use explosives to get cash out of machines. But during the pandemic, most other types of attacks used to target ATMs, payment terminals and point-of-sale devices sharply declined, a new European study shows.
The combination of governmental financial support driven by “high unemployment, business insolvency, and disruptions in global
trade patterns” + increased online and remote banking has led to a spike in
Heightened risks made it harder to comply with requirements to combat financing terrorism...
Point-of-sale device manufacturers Verifone and Ingenico have released fixes for flaws in some of their devices after researchers found the vulnerabilities could have enabled attackers to steal payment card data, clone cards or install malware.
As one of the fastest growing markets, MENAP represents a huge opportunity for merchants in the region and on a global scale. But success depends on understanding the changing consumer behaviors, accelerated by COVID-19. Like a positive shift in sentiment towards the security of digital payments.
Banking institutions are seeing a significant spike in
multichannel financial crimes. Data and analytics can be
key differentiators in the effort to protect sensitive
Download this eBook to learn more about:
Financial crime trends and how they’ve evolved in 2020;
The manifestation of...
Criminals have been seeking innovative new ways to steal cash from ATMs. In the U.S., there has been a surge in physical attacks, while Europe has seen a sharp increase in "black box" attacks designed to make ATMs dispense cash on demand.
The Bad Bot Report investigates the daily attacks that sneak past sensors and wreak havoc on websites. Such activities include web scraping, competitive data mining, personal and financial data harvesting, brute-force login, digital ad fraud, spam, transaction fraud, and more.
In the 2020 Bad Bot Report you'll...
Despite the shift to e-commerce during the pandemic, attacks against POS devices persist. For example, Visa's payment fraud disruption team uncovered recent malware attacks on POS devices used by two North American hospitality companies.