PYMNTS

NOVEMBER 30, 2020

While the business email compromise (BEC) scam is a global pain point for businesses, this week's B2B Data Digest looks at the latest figures in B2B payments fraud and finds BEC heating up in one particular region: Australia and New Zealand. In total, about $104.5 million erroneous payment resulting from a BEC scam.

Fraud 177

Fraud Cyber Security Data Software 177

Perficient

APRIL 2, 2021

fraud detection and financial crime monitoring). It involves using software to analyze both structured and unstructured data (i.e., email, text, audio data), with the aim of identifying fraud or anomalous transactions. This involves employing AI to identify potentially suspicious, anomalous, or outlier transactions (e.g.,

Regulation 309

Regulation Industry Risk Management Analysis 309

PYMNTS

NOVEMBER 21, 2019

KPMG is rolling out a new payments security solution targeting B2B payments fraud, the company said Thursday (Nov. A press release said KPMG is collaborating with cybersecurity provider nsKnox to roll out its KPMG Secure Payments tool, distributed and serviced by KPMG Israel.

Fraud 111

Fraud Security Payments Cyber Security 111

Payments Source

AUGUST 22, 2018

Account takeover (ATO) fraud currently drives the largest fraud losses at North American financial institutions within digital channels, according to a new report from Aite Group and Early Warning, the bank organization that operates the Zelle payment network brand.

Fraud 92

Fraud Data Mobile Payments 92

PYMNTS

MAY 9, 2016

Though the industry knew it was coming, the sharp migration of fraud from in-store to online channels with the growing adoption of EMV is still enough to keep any online merchant up at night. The data show that since the October 2015 EMV liability shift, United States fraud attacks have jumped by 11 percent.

Fraud 100

Fraud Online United States Cyber Security 100

PYMNTS

OCTOBER 29, 2019

Cybersecurity and fraud protection company DataVisor , which uses artificial intelligence to help with fraud solutions, has launched a program called ExtenD, with the intention of helping medium to larger businesses with their cybersecurity and fraud needs, the company said in a press release.

Fraud 100

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PYMNTS

JUNE 29, 2020

Using the slogan, “In Fraud We Trust,” the group directed traffic and potential purchasers to sites of its members, which served as online conduits to traffic in stolen identification, financial and banking information, malware and other illicit goods, according to the complaint. In April, a joint study by the U.S. and the United Kingdom.

Nevada 201

Nevada Cyber Security Study Security 201

FICO

MAY 2, 2019

Fraud and data breaches have always had a close, if destructive, relationship. As the US transitioned to hard-to-counterfeit EMV payment card technology several years ago, criminals flocked to card not present (CNP) fraud , often combining identity fragments and card numbers stolen in breaches to make illicit purchases online.

Fraud 70

Fraud Data Risk Management Cyber Security 70

PYMNTS

JULY 29, 2019

Business E-mail Compromise (BEC) fraud has been gaining ground and growing in terms of number of incidences, according to a recent report. The data was reported in the July 2019 Financial Trend Analysis report. And the data shows that between July 2018 and June 2019, roughly 6,000 organizations were targeted each month.

Fraud 138

Fraud Cyber Security Cards Report 138

Abrigo

MAY 4, 2020

While many are minor application enhancements, some are bug fixes or critical cyber security enhancements that should be updated immediately. When your AML software is hosted with a secure vendor, they will handle all upgrades and service packs with seamless updates to your AML systems. Artificial Intelligence. Learn More.

Software 195

Software Cyber Security Security Community 195

PYMNTS

SEPTEMBER 17, 2018

Mobile means one can do just about anything by using their device: order food, bank online, read the news … even commit payments fraud, sometimes from the unlikeliest of places. As many as 70 percent of attacks set their sights on small businesses, said the data. ” The Larger Trends.

Idaho 153

Idaho Missouri Cyber Security Fraud 153

NCR

NOVEMBER 8, 2016

With that comes the need to protect the data associated with all types of banking transactions. While the ISO reports to the board on all cybersecurity, the degree to which this person is engaged across all banking functions can make a significant difference preventing digital fraud. Customer Responsibility.

Cyber Security 63

Cyber Security Security Risk Management Training 63

SWBC's LenderHub

APRIL 30, 2020

While not a new scheme, online account origination fraud has grown in part because of the prevalence and ease of use of online banking services, and in part because of the number and scope of data breaches allowing bad actors access to a large amount of consumer data.

Fraud 88

Fraud Online Data Cyber Security 88

PYMNTS

JANUARY 10, 2021

The hackers breached security at "a third-party file-sharing service," the central bank stated in a news release. Adrian Orr said in a prepared statement: "We are working closely with domestic and international cyber security experts and other relevant authorities as part of our investigation and response to this malicious attack.

Cyber Security 202

Cyber Security Security System Operations 202

PYMNTS

MAY 8, 2017

Still, there are plenty of data points that show how damaging a cyberattack can be on a small business. ” The risks include hacks, criminal fraud and corporate espionage, and the list of potential crimes is growing, the FSB said. PYMNTS offers a few of them below — plus the statistic in question discussed in the House.

Data 101

Data US Guidelines Cyber Security 101

PYMNTS

OCTOBER 29, 2019

Cybersecurity and fraud protection company DataVisor , which uses artificial intelligence to help with fraud solutions, has launched a program called ExtenD, with the intention of helping medium to larger businesses with their cybersecurity and fraud needs, the company said in a press release.

Company 101

Company Cyber Security Fraud Big Data 101

PYMNTS

JUNE 15, 2017

It’s now the largest surveillance camera manufacturer in the world, not only making network cameras but also the software to run and analyze data from those cameras. Or, video footage can be combined with exception-based reporting at the point of sale, which can help identify cashier fraud.

Fraud 101

Fraud Security Video Retail 101

PYMNTS

MAY 9, 2016

government’s Cyber Governance Health Check, which offered up the Cyber Security Breaches survey. Minister of Digital Economy Ed Vaizey stated that it was “absolutely crucial businesses are secure and can protect data … Too many firms are losing money, data and consumer confidence with the vast number of cyberattacks.”

Cyber Security 100

Cyber Security Survey Security National 100

FICO

JULY 31, 2019

What data is shared with the supplier? The first step is determining whether additional information is needed to assess cyber risk. Here, the firm may elect to set a score threshold — or a set of thresholds based on categorization and impact — to determine whether additional data is required. Where does the vendor operate (e.g.,

Cyber Security 70

Cyber Security Management Security Risk Management 70

Payments Source

FEBRUARY 7, 2019

Today phishing scams have become so elaborate that they can take a variety of forms, including a phony job interview.

Data 150

Data Cyber Security Online Fraud 150

Cisco

JUNE 7, 2019

While the days of the good ol’ “stickup” bank robbery, cybersecurity threats are rapidly growing in number and complexity, and even the most advanced security teams scramble to keep up. After decades of battling credit card fraud, retail banks face a new challenge: fraudulent account takeover. The rise in high-impact fraud.

Fraud 63

Fraud Retail San Diego Cyber Security 63

PYMNTS

SEPTEMBER 20, 2017

New York Governor Andrew Cuomo announced that he wants credit reporting firms to comply with the state’s new cyber-security regulations in the wake of the massive Equifax hack , according to Reuters. Maine is currently the only state that requires credit agencies to register, but its law does not cover cyber security.

Cyber Security 100

Cyber Security New York Report Massachusetts 100

PYMNTS

SEPTEMBER 13, 2018

According to recent research , fraudsters stole more than $7 billion from consumers and companies in 2016 alone, and did so on the backs of new technology and high-profile data breaches. Fraud rates are expected to skyrocket, too, with researchers projecting a nearly 200 percent increase within the next five years. Smarter Security.

Security 110

Security Fraud Cyber Security Data 110

PYMNTS

MARCH 10, 2020

and verified that it was legitimate hacked user data, not fake information. was first exposed as a nest of cybercrime activity in a now removed Digital Shadows report from 2016, according to ZDNet , and those in-tune with cyber-security issues were not shocked to hear of Firsov’s arrest. regularly, the FBI said.

National 134

National Online New York City Cyber Security 134

Insights on Business

MAY 18, 2018

The world’s data is doubling every 12 months. And financial transactions are among a fast-growing subsection of data types. The expansion of channels expands the threat of money laundering, fraud, and hacks — as well as regulatory requirements for necessary protections. Digital Trust is paramount for the modern business.

Operations 93

Operations Security Cyber Security Customer Experience 93

PYMNTS

JANUARY 9, 2020

The hacker gang Sodinokibi , also known as REvil, reportedly demanded $6 million in return for encrypted customer data. Travelex said it had contained the ransomware and investigations show that customer data was not compromised. “We But you will lose your time and your data, cause just we have the private key.

Cyber Security 131

Cyber Security Groups System Data 131

PYMNTS

FEBRUARY 6, 2019

IBM said at the time there was no evidence that the hackers stole sensitive customer data while Hewlett Packard Enterprise declined to comment on the report. Chichester said that with companies hardening their defenses for cyber attacks, the hackers are turning to suppliers to get into corporate networks.

Software 123

Software Company Cyber Security Security 123

PYMNTS

SEPTEMBER 24, 2018

In the wake of the news earlier this month that British Airways had found, and reported, a data breach within the 72 hours mandated by the General Data Protection Regulation , the question remains: How much is it going to cost, if anything? In the ICO investigations that followed, the regulator said that when it came to data of U.K.

Data 152

Data Cyber Security Regulation social media 152

PYMNTS

DECEMBER 2, 2019

29, requesting tech companies who can build a “proof of concept” shared KYC system that would allow commercial banks and the central government to share and update customer data on a blockchain. The bank made the announcement on its website on Nov.

blockchain 132

blockchain System Cyber Security Technology 132

PYMNTS

JANUARY 7, 2020

s National Cyber Security Centre (NCSC) and regulators with the Financial Conduct Authority were already looking into the cyberattack, with the NCSC saying it would work closely with law enforcement. Discovered on New Year’s Eve, the cyberattack is now the focus of a criminal investigation, led by the Metropolitan Police.

Cyber Security 130

Cyber Security Online Retail National 130

PYMNTS

JUNE 20, 2017

Two years later, the facial recognition technology is the best in the world (yep, even better than Google’s) and is being used for public safety, law enforcement and fraud prevention through cybersecurity. People also worry that their personal biometric data could be stolen and used for nefarious purposes.

Technology 173

Technology Retail social media Fraud 173

PYMNTS

DECEMBER 3, 2018

According to a report in the Wall Street Journal citing cyber security specialists, the breach in which the personal information of as many as 500 million customers was exposed began in 2014, going undetected until September of 2018. The hack could hurt Marriott’s reputation at a time when it’s fighting off the likes of Airbnb.

Cyber Security 122

Cyber Security Security Cards Resources 122

PYMNTS

FEBRUARY 5, 2020

The company said that no personal data was compromised in the cyberattack. . “We We have shared samples of the relevant variant with law enforcement, the Australian Cyber Security Centre, and cybersecurity organisations to ensure the wider community is protected,” the updated statement said.

Cyber Security 131

Cyber Security System Security Community 131

FICO

DECEMBER 16, 2019

The Communications Fraud Control Association (CFCA) recently released the findings from its Global Telecom Fraud Survey. Fraud teams operate with lean structures. The majority are still using primarily rules-based fraud management systems, with just 6% using AI and machine learning. of respondents.

Survey 52

Survey Fraud Cyber Security Compliance 52

American Banker

DECEMBER 10, 2023

An increase in paper mail theft corresponds with a rise in physically altered checks that redirect funds to fraudsters.

Fraud 77

Fraud Data Cyber Security Security 77

PYMNTS

NOVEMBER 23, 2017

Ride-hailing app company Uber, which made news when it covered up a huge data breach that exposed roughly 600,000 driver’s license numbers, could face investigations by regulators around the globe. Australia and the Philippines are launching inquiries into how Uber handled the data breach. 22), regulators in the U.K., s capital.

Regulation 100

Regulation Cyber Security Connecticut Illinois 100

PYMNTS

MAY 15, 2017

“The NHS has experienced a major cyber-attack, we are working with law enforcement and our advice will follow shortly!” Action Fraud, the U.K.’s The National Cyber Security Center said: “We are aware of [the] cyber incident, and we are working with NHS Digital and the National Crime Agency to investigate.”.

Cyber Security 101

Cyber Security National Security System 101