PYMNTS

NOVEMBER 29, 2017

But not everybody has the resources for a complete cybersecurity makeover — or the $100,000 to sweep a successful hack under the rug. App-based personal bank Jiko, set to debut in 2018, says its efficient structure allows for providing 0.5 Around the Digital Banking World. percent cash back on debit card transactions.

Security 173

Security Digital Banking Resources Mobile 173

PYMNTS

OCTOBER 15, 2020

More than 60,000 businesses in Nigeria and Ghana use Paystack to securely collect online and offline payments, launch new business models, and deepen customer relationships. Stripe already reportedly invested in Paystack's Series A round in 2018. “In Their tech-first approach, values and ambition greatly align with our own.

Payments 227

Payments Resources Tools Online 227

FICO

DECEMBER 18, 2017

Taking both ends of the spectrum into account, my cybersecurity predictions for 2018 involve cyber scores, 2FA and bio hacks. As a result of this, we've seen a big uptick in the market for security rating services, he [Wheatman] said.”. In 2018, I predict that the awareness and usage of enterprise cyber scores will skyrocket.

Cyber Security 73

Cyber Security Security Data Resources 73

PYMNTS

MAY 4, 2020

Advances in technology are making consumer transactions seemingly more secure, but cybercriminals are still finding sophisticated ways to beat systems and commit financial fraud. A 2018 study on payment fraud mitigation reported that 75 percent of financial institutions (FIs) experienced fraud losses. Some 1,473 breaches revealed 164.7

Analytics 141

Analytics Data Security San Diego 141

CFPB Monitor

MARCH 12, 2019

The FTC has issued its 2018 Consumer Sentinel Network Data Book. The report summarizes consumer complaints stored in the Consumer Sentinel Network, a secure online database. For 2018, imposter scams top the list of reported complaint categories, accounting for 18% of the almost 3 million consumer reports summarized in the Data Book.

Nevada 74

Nevada Georgia Florida Delaware 74

PYMNTS

JANUARY 27, 2020

percent increase from 2018. Businesses need employees to build and promote their products, but they cannot afford to have those workers weaken their security, meaning fraud prevention must be among firms’ top priorities. Ensuring Secure Workplace Practices. million in 2019 — a 1.5 Fighting the Phishers.

Fraud 249

Fraud Policies Security Resources 249

PYMNTS

DECEMBER 19, 2018

NASA has suffered a data breach that exposed its employees’ Social Security numbers and other personal information. “Upon discovery of the incidents, NASA cybersecurity personnel took immediate action to secure the servers and the data contained within,” the memo stated. Information security remains a top priority for NASA.

Leadership 175

Leadership Security Data Resources 175

CFPB Monitor

SEPTEMBER 11, 2018

California is once again poised to set the standard for privacy and data security by enacting the first state law directed at securing Internet of Things (IoT) devices. The law defines “authentication” as “a method of verifying the authority of a user, process, or device to access resources in an information system.”

California 68

California Security Data Analysis 68

PYMNTS

DECEMBER 17, 2020

Account takeovers and shipping fraud increased by 347 percent and 391 percent, respectively, between 2018 and 2019, and the pandemic has only exacerbated these issues. This represents a fivefold increase from the pre-pandemic normal, when most consumers shopping online were better attuned to security protocol. About The Tracker.

Fraud 255

Fraud Online Retail Examples 255

PYMNTS

FEBRUARY 20, 2019

19), Mastercard announced the launch of its Cybersecurity Toolkit for SMBs, an online resource developed in partnership with the Global Cyber Alliance (GCA) that provides entrepreneurs and business executives with guidance and tools to address the threat of cyberattacks on their companies. In a press release on Tuesday (Feb.

Resources 140

Resources social media Tools Policies 140

PYMNTS

APRIL 27, 2018

Kaspersky Lab saw an increase in activity by both old and new botnets as well an increase in popularity of amplification distributed-denial-of-service (DDoS) attacks in the first quarter of 2018. The company also noticed the return of long-lasting (multiday) DDoS attacks, according to its 2018 DDoS Intelligence Report.

Resources 101

Resources Online Security Tools 101

PYMNTS

JANUARY 12, 2018

That shift, for contact or contactless payments, goes into effect April 2018. Those investments and focus, the company said, will help “define the future of payments security.”. Dan Sanford, the company’s VP of Product Initiatives, said that “Visa is committed to delivering secure, fast and convenient payments at the point of sale.

America 153

America United States Analytics Cards 153

PYMNTS

JANUARY 8, 2020

billion per year in incremental growth between 2018 and 2023. Facial authentication and cloud-based subscription services are particularly popular, with applications ranging from unlocking personal smartphones to providing secure access to top-secret government facilities. EMV Cards Face Crucial Verification Security Gaps.

Fraud 169

Fraud Cards Security National 169

PYMNTS

SEPTEMBER 12, 2019

Compliance failures are prevalent worldwide: Approximately $26 billion worth of fines were levied against banks for AML, KYC and sanctions noncompliance between 2008 and 2018. The People’s Bank of China announced in March that it plans to create rules for regulating and securing the FinTech sector, for example. . resources.

Fraud 189

Fraud Fintech Compliance Regulation 189

PYMNTS

MARCH 25, 2020

Digital fraud continues to flourish, with recent surveys finding that security breaches have increased 67 percent since 2014 and 11 percent since 2018. Organizations and security developers are investing billions of dollars in fighting these fraud attempts. Casualties of these breaches in the first half of 2019 alone include 4.1

Fraud 148

Fraud Security Resources Survey 148

PYMNTS

DECEMBER 2, 2020

Founded in 2018 and launched in October, the all-in-one banking app has a half-million users and is geared toward teenagers and young adults to help them gain financial independence. Step customers get a bank account that is insured by the FDIC, as well as a secured spending card backed by Visa and the P2P payments platform.

Fintech 217

Fintech FDIC Resources Management 217

PYMNTS

DECEMBER 4, 2018

In fact, the number of Same Day ACH transactions rose by 192 percent in Q3 2018 over the same period from the previous year. Members gathered to discuss which key topics needed to be featured in a Faster Payments Playbook, a resource that would guide FIs in their faster payment strategies. Meanwhile, other players in the U.S.

System 175

System Resources Meeting Payments 175

PYMNTS

MAY 28, 2020

In the May Digital-First Banking Tracker® , PYMNTS explores the latest in the world of digital-first banking, including the challenges facing deployment of APIs amid the COVID-19 pandemic, new online initiatives from nationwide FI chains and community banks and the security challenges that are plaguing digital banking programs.

Community Bank 176

Community Bank Community Security Digital Banking 176

PYMNTS

SEPTEMBER 9, 2019

For others, like the Cyber Readiness Institute, combatting cybercrime means expanding the availability of resources: the Institute recently revealed its plans to translate its cybersecurity program to Spanish and Portuguese for instance. Below, PYMNTS looks at some of the numbers behind changing cybersecurity strategies.

Strategy 180

Strategy Security Technology Data 180

PYMNTS

JULY 28, 2020

Fraudsters and financial institutions (FIs) are constantly evolving to best each other, and growth in synthetic ID fraud is revealing that many banks must enhance their security measures to stay in the lead. billion from the nation’s consumers in 2018. Most banks still need to upgrade their security methods to handle the issue, too.

Fraud 132

Fraud Data Examples Security 132

PYMNTS

APRIL 1, 2020

percent that said the same in 2018, indicating that digital innovation should remain a critical concern for CUs over the next several years. CUs are also employing technologies for security and for consumer satisfaction. How USSFCU Secures Its Digital Infrastructure Makeover. This is a jump from the 17.3 About The Tracker.

United States 181

United States Innovation Online Tools 181

PYMNTS

JANUARY 31, 2020

s Ticketmaster site in June 2018. Now one thing about those types of companies is they often have more resources to invest in cybersecurity measures.”. Firms of all sizes have been impacted by eSkimming attacks in the past two years, including the Australian Puma website in April, Macy’s in October and the U.K.’s

Resources 131

Resources ATM Data Branding 131

PYMNTS

FEBRUARY 26, 2020

Security standards have largely not kept up with such threats, according to a joint study from Javelin Research and Kount. The study also noted that only 27 percent of restaurants’ digital investments were focused on fraud mitigation, with establishments instead allocating resources to mobile ordering. Selecting the Target.

Fraud 141

Fraud Mobile Security System 141

Abrigo

FEBRUARY 27, 2020

The Financial Crimes Enforcement Network (FinCEN), along with the Federal Banking Agencies, released a joint statement in December 2018 emphasizing financial institutions’ need to embrace technology to strengthen their BSA/AML programs. Our Transparent AI is easy to explain to regulators. . Be at the forefront of innovation in BSA/AML.

Innovation 195

Innovation Software United States Compliance 195

PYMNTS

AUGUST 17, 2018

Cointelegraph reports that the Committee on Energy and Natural Resources is set to hold a hearing next Tuesday (Aug. Beyond that, the hearing will also look into the ways blockchain can help improve the online security of computer systems that are linked to the energy system itself. billion.

blockchain 102

blockchain United States Resources System 102

Accenture

OCTOBER 3, 2019

Add in banks’ rising data sharing with third parties, and growing use of APIs to interface with external developers, and the result is an increasing risk that security gaps will be exposed and exploited by attackers. In a world where technology change is non-stop, security must be forefront of mind. Acknowledging the threat.

Security 150

Security Technology Leadership Data 150

PYMNTS

MAY 29, 2018

The annual Kaspersky Lab Corporate IT Security Risks survey is a worldwide survey of IT business decision makers, which this year had a total of 6,614 respondents from 29 countries. Huge amounts of money are also consumed by belated security awareness training ($137,000 on average).” million in 2017. million in 2017.

Data 145

Data Training America Survey 145

Abrigo

MARCH 11, 2022

Thanks to an increase in mobile payments precipitated by the pandemic and rising security concerns due to the Russian conflict in Ukraine, the world of financial fraud prevention is more dynamic than ever. Recently, the Secure and Fair Enforcement Banking Act of 2021 (SAFE Act) passed the house for the third time.

Regulation 195

Regulation cryptocurrency Policies Management 195

PYMNTS

DECEMBER 28, 2018

To prepare for the settlement expense, the bank put aside $400 million in the third quarter of 2018, and will pay the rest by the end of the year. Securities and Exchange Commission, the Department of Justice and the Department of Labor. Wells Fargo’s troubles are far from over. It faces an inquiry by the the U.S.

California 158

California Resources Management System 158

PYMNTS

JANUARY 13, 2020

Wells Fargo has had trouble meeting regulator expectations due to obsolete methods and resources and is trying to revamp its approach to technology to address digital security and regulators’ concerns. Mattress Maker Casper Files IPO After $92M Loss In 2018. Wells’ Growth Reportedly Hampered By Old Systems, Tech Failures.

Mobile 131

Mobile Payments Regulation Resources 131

PYMNTS

JANUARY 29, 2020

A significant number of firms — notably small- to medium-sized businesses (SMBs) — still use such systems, as 25 percent of smaller firms stated in 2018 that their payroll involved pen-and-paper methods. A 2018 report found that 21 percent of the fraud SMBs see is expense reimbursement fraud from their own employees.

Taxes 141

Taxes Fraud Tools System 141

PYMNTS

APRIL 20, 2018

PayGroup provides multi-currency payroll and human resources solutions; the firm also serves as the holding company for PayAsia, a cloud human capital management software and business process outsourcing provider to medium-sized and large, multinational conglomerates with operations in multiple countries. million for fiscal year 2018.

Software 100

Software Capital Security Resources 100

PYMNTS

JUNE 27, 2019

The volume of food and beverage orders placed via mobile apps grew by 130 percent between 2016 and 2018, while 60 percent of U.S. This move follows the 2018 launch of the Starbucks Delivers program in the region. Mobile ordering is more popular than ever. consumers currently order delivery or takeout once a week.

Analytics 122

Analytics Data Los Angeles Mobile 122

PYMNTS

JUNE 24, 2020

trillion in premiums for 2018, according to one recent report , a notable portion of the wider industry’s approximately $5 trillion in revenue that year. The space recorded a 66 percent increase in net income, hitting $60 billion in 2018, for example, and the first half of 2019 saw individual insurer Lloyd’s report a $2.8

Industry 152

Industry Payments Examples System 152

PYMNTS

JUNE 29, 2020

This change has prompted more compliance-related questions from SMBs, however, and ePayments provider Ingenico has crafted an SCA suite that leverages online security protocols to assist firms with following the requirements. Data privacy and security continue to be top priorities for many regulators, too. however, notably SCA.

How To 239

How To Payments Management social media 239

PYMNTS

AUGUST 15, 2019

Seventy countries had adopted the standard as of May 2018, and it is expected to support 87 percent of the world’s financial transactions by 2023. Deep Data For Swift, Secure Payments . Setting aside resources for improvements and adoption is not the only potential challenge, either.

Resources 145

Resources System Data Payments 145

PYMNTS

MARCH 7, 2019

However, as stated, many still have qualms regarding Open Banking and data transparency when it comes to security and privacy, concerns that are still being debated in the Bulgarian government as GDPR progresses. For more on the security and privacy issues surrounding these regulations, visit the Tracker’s News & Trends section.

Lending 198

Lending Regulation Regional Data 198