Remove Groups Remove Security Remove Technology
article thumbnail

Bank wire fraud – How social engineering and technology perpetrate fraud losses

Abrigo

Takeaway 1 Bank w ire transfer fraud is increasing due to technological advances today. Takeaway 3 Education and technology tools are our best defense against b ank wire transfer fraud in our institutions. While wire transfers offer speed and efficiency, they have always carried inherent risks. billion in losses reported.

Fraud 195
article thumbnail

Celebrating FinCrime Fighter Day: Honoring the heroes of financial security

Abrigo

These professionals rarely get the spotlight, but they are the first line of defense against threats like identity theft, drug traffickers, and terrorist groups. But here’s where it gets interesting: as threats evolve, so too does the technology used to fight them. FinCrime fighters aren’t just checking boxes for compliance.

Security 221
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Alibaba’s Ant Group Produces Preparatory Regulatory Filing For Intended IPO

PYMNTS

Ahead of an intended initial public offering (IPO), Alibaba Group Holding’s Ant Group has conducted a preliminary filing with the securities watchdog of China, Reuters reported. The news service reported that the move hints that the two Chinese investment institutions will be heading up the group’s onshore offering.

Groups 262
article thumbnail

Castles Technology Buys Spire Payments

PYMNTS

Global payment solutions provider Castles Technology has acquired Spire Payments , a provider of electronic funds transfer at point of sale (EFTPOS) systems, the company announced in a Thursday (Oct. He said the acquisition would add more choice for customers alongside new technical and security capabilities. 1) press release.

article thumbnail

Chinese Conglomerate Fosun Group Bets Big on Blockchain

Bank Innovation

A representative of Fosun Group, which, at $13.1 billion, is China’s largest private investment conglomerate, has confirmed that it has invested “tens of millions of yuan,” or multi-millions of US dollars, into a Shanghai-based startup responsible for a local blockchain technology platform.

Groups 281
article thumbnail

Data breach a risk despite security spend, experts say

BankInovation

Financial institutions prioritize investment in cybersecurity technology but no matter how much they spend for protection, their systems and data remain vulnerable. “You could never say any organization is 100% secure and they’ll never be hacked,” Ray Kelly, fellow at cybersecurity company Synopsys Software Integrity Group, told Bank Automation News, (..)

article thumbnail

Ant Group Moves Ahead With $35B IPO After China's OK

PYMNTS

Ant Group has won the nod from China's top security regulators for its Shanghai offering, the last hurdle to clear for the $35 billion dual listing, Reuters reports. Ant, the FinTech backed by China's Alibaba Group, plans to list simultaneously in Hong Kong and Shanghai in the next few weeks, according to sources quoted by Reuters.

Groups 175