The Federal Bureau of Investigation (FBI) is warning banks that cybercriminals are preparing to carry out a highly choreographed, global fraud scheme known as an ATM cash-out, in which crooks hack a bank or payment card processor and use cloned cards at cash machines around the world to fraudulently withdraw millions of dollars in just […]
Read MoreVerifying identities continues to be a tricky proposition for banks as cybercriminals diversify and increase their attacks – especially when it comes to wire transactions. Payments fraud hit a record high in 2017, with 78 of all organizations affected, according to a report from the Association of Financial Professionals and J.P. Morgan.
Read MoreCall it fraud done by bits and bytes, sometimes by ostensibly friendly means. In Australia, roughly half of firms have encountered cybercrime, as the dark web has offered conduits to ply payments and other fraud.
Read MoreDigital banking startup Revolut is hailing its recent introduction of disposable virtual cards for online purchases, claiming a 30 reduction in card fraud cases. In March Revolut began letting customers create disposable virtual cards in seconds, with card details that automatically regenerate after every transaction.
Read MoreCybercrooks are buying and selling in-game currency from mobile games such as Clash of Clans to launder money from stolen credit cards, according to security firm Kromtech Security Kromtech says that last month it found a strange database exposed to the public internet with a cache of credit card numbers and personal information inside.
Read MoreThe number of hacked U.S. credit cards whose information was offered for sale to other criminals on the dark web jumped by about two-thirds in the first half of this year, according to a cybersecurity research firm.
Read MoreMilestones like a 10-year anniversary often serve as times to reflect on past accomplishments. For those working closely on the U.K.’s Faster Payments system, that period of contemplation and consideration has arrived. Faster Payments has been busy over the past decade, processing more than 9.1 billion payments since first going live.
Read MoreTravis Barker has had his credit card replaced three times in the past six months. The Auckland based data analytics consultant is a world citizen, big traveller, and buys many of the things he needs online.
Read MoreCredit card fraud is a massive problem for e-commerce retailers. If youre an online business, youre likely all too familiar with it. But today, the fight against credit card fraud is a losing battle. Online retailers are losing between 2.48 and 2.82 for every 1 of direct fraud. That means roughly 2.
Read MoreNiche cryptocurrency ZenCash has been hit by a 51 percent attack, leading to the theft of hundreds of thousands of dollars worth of tokens. Although problematic in its own right, the attack highlights one of the biggest weaknesses of blockchain platforms like Bitcoin – computing power.
Read MoreA crypto-craze fueled by digital currency volatility is bringing blockchain technology, the digital ledger system that underlies such currencies, into the spotlight. At the same time, recent calls to take back ownership of personal identity are making blockchains decentralized nature more appealing.
Read MoreThe Securities and Exchange Commission (SEC) announced that it has obtained a court order to stop a fraudulent initial coin offering (ICO) allegedly run by Titanium Blockchain Infrastructure Services Inc., which has raised as much as 21 million from investors in and outside the U.S.
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