cnn

FBI Warns Banks on Potential ATM Hacking Scheme

The FBI is warning financial institutions that their ATMs could be targeted in a hacking attempt. The threat was reported Sunday by Krebs On Security, a popular cybersecurity blog run by the journalist Brian Krebs.

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Why American Credit Card Companies Can’t Break Into China

Visa, Mastercard and American Express have been campaigning to enter China for years. After more than a decade of trying, they may have missed their chance. Beijing has repeatedly signaled it will open up foreign access to its credit card market, and in 2017 it opened the door for American card companies to apply for […]

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SoftBank Takes on Apple and Samsung With New Payment App

One of the world’s biggest tech companies is wading into Japan’s growing digital payments industry. SoftBank is partnering with Yahoo Japan to launch a mobile payment app called PayPay this fall, the company announced Friday. SoftBank and Yahoo will collaborate with Paytm, India’s biggest online payments firm.

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Bitcoin Could ‘Bring the Internet to a Halt,’ Banking Group Warns

Don’t bet on bitcoin ever replacing the dollar or other traditional currencies as everyday money. That’s one of the messages from a new report by an organization that represents dozens of the world’s central banks.

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Billions in Cryptocurrency Wealth Wiped Out After Hack

A cyberheist at a little-known virtual currency exchange helped wipe billions of dollars off the value of bitcoin and other digital currencies. The price of bitcoin slumped more than 7 after South Korea’s Coinrail announced that it had been targeted by cyberthieves.

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American Banks Had Their Most Profitable Quarter Ever

American banks are hauling in record-setting profits just as Congress prepares to cut regulations. Bank profits soared by 28 during the first three months of 2018 to 56 billion, according to statistics published by the FDIC on Tuesday.

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Are Apple, Amazon and Facebook the Future of Banking?

Watch out, big banks. Silicon Valley is targeting finance as the next industry ripe for disruption. In the not-too-distant-future, Amazon (AMZN) could let customers zap each other cash with Alexa, and then deposit the money in an Amazon-branded checking account.

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