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.
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...
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...
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...
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...
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.
Don't click phishy links. Everyone knows that. But are your end users prepared to quickly identify today's tricky tactics being used by bad actors? Probably not. Cybercriminals have moved beyond simple bait and switch domains. They're now employing a variety of advanced social engineering techniques to entice your...
Consumer groups continue to fight for banks to reimburse victims of authorized push payment scams, but regulators in some countries including the United Kingdom and Australia are looking for ways to tighten controls, said Ken Palla, fraud expert and retired director at MUFG Union Bank.
Fraudsters have long relied on mule accounts to deposit proceeds from a variety of scams, but financial crimes investigators are seeing a shift to dropped accounts, which can be opened and quickly discarded to evade detection by law enforcement, said M&T Bank's Karen Boyer.
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