Awareness of instant payments has grown significantly in the U.S. payments ecosystem since the launch of FedNow last July. Many banks have signed up for FedNow, but transaction volumes remain low because only the receive mode was activated, said Reed Luhtanen of the U.S. Faster Payments Council.
Social engineering and phishing are not just IT buzzwords; they are potent threats capable of causing devastating damage to your organization. Bad actors and the technology they use to infiltrate your defenses are evolving at lightning speed. The only way to safeguard your assets and data is to stay ahead of the game...
Law enforcement authorities in Singapore, Malaysia, Hong Kong and Taiwan took down a cybercrime ring that used dozens of servers and hundreds of phishing pages across multiple jurisdictions to run a malware-enabled scam operation and steal tens of millions from victims' bank accounts.
Spanish National Police have arrested a 22-year-old British national based on an International Arrest Warrant from the U.S. that accuses him of stealing bitcoins worth $27 million. Reports suggest the suspect is a key member of the Scattered Spider cybercrime group that hacked MGM and Clorox.
The U.K. Payments Systems Regulator has denied The Payment Association's request to delay the contentious APP fraud reimbursement plan by a year. The association, the largest community in payments, had warned that failing to delay the plan would permanently damage the payments industry.
SIM swap fraud continues to cause substantial financial losses for both consumers and financial institutions, undermining the integrity of the financial ecosystem. In the UAE, the banking industry has incurred considerable losses from SIM swap fraud. But a strategic approach has stopped it.
App Guardian: How XTD Safeguards Financial Service Providers’ Mobile Security
Today, mobile phones have become the primary means of accessing digital services, while the proliferation of unmanaged devices has led to countless connections to enterprise systems. This presents a significant challenge for Chief...
The digital payment landscape is undergoing transformative growth, with cybersecurity at its core. Dharshan Shanthamurthy, CEO at SISA, discussed the urgency of addressing cybersecurity in an industry that is not only lucrative for businesses but also for motivated criminal gangs.
Money mules are a key enabler of digital banking fraud which impacts consumers and organizations across the globe. They facilitate the movement of fraudulent funds, which can threaten the stability and integrity of organizations at a global level and impact consumers’ trust and willingness to conduct business with...
Consumers, businesses, legacy banks and alternative payment providers are not the only ones embracing digitalization. Fraudsters are racing to take advantage of new opportunities – and vulnerabilities – enabled by the new payment channels and services.
This E-book talks about the about the latest perspectives to...
Identity fraud is flourishing due to wide disparities in consumer awareness of social engineering schemes and technical sophistication. Omnichannel ecosystems provide fraudsters with an optimal and readily available framework to monetize stolen or synthetic identity credentials by executing fraud schemes at high...
Even though with the increase in more e-commerce and financial services online, it’s a great convenience for the customers but its also a haven for fraudsters who can commit their fraud with anonymity.
This report explores some of the key trends within the behavioral biometric and device fingerprinting market and...
Financial institutions must either understand and implement better strategies for detecting and mitigating authorized transfer scams, or risk rising financial losses and customer frustration.
To explore how financial institutions are addressing scam detection and mitigation, we commissioned a survey of over 400...
Threat actors are sending SMS texts to trick banking customers into downloading new and improved Vultur banking malware that interacts with infected devices and alters files. Vultur typically misuses legitimate applications, enabling remote access to the VNC server on targeted devices.
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