NCR

NOVEMBER 8, 2016

Last month was National Cybersecurity Awareness Month, an initiative to provide consumers with the information they need to stay safe online, so in the wake of this, it is a good time for banks to consider whether all possible steps are being taken to protect their customers in our digitally connected world. Cyber Incident Response Plan.

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PYMNTS

DECEMBER 6, 2018

A person calls to inform a consumer that his or her account had been frozen because of what was supposedly a “fraudulent transfer” or some other problem. Such a scenario stands as a terrifying example of not only the sophistication of criminals, but also the threat of fraud in a real-time payments environment. The request?

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PYMNTS

JUNE 29, 2020

Launched in the Ukraine a decade ago, the internet-based cybercriminal enterprise stole identities, compromised debit and credit cards and personal, financial and banking information and spread computer malware, the Justice Department’s Criminal Division said in a statement. In April, a joint study by the U.S. and the United Kingdom.

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PYMNTS

JANUARY 10, 2021

10) that it has been hacked — and that potentially sensitive personal and commercial information may have been involved. The hackers breached security at "a third-party file-sharing service," the central bank stated in a news release. The Reserve Bank of New Zealand said Sunday (Jan. Our core functions remain sound and operational.".

Cyber Security 202

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Jack Henry

SEPTEMBER 11, 2014

The same principles apply to information security awareness for a financial institution’s (FI’s) stakeholders (employees, board members, and customers). That is, given the same preventative measures, an FI may reduce the number and extent of information security breaches due to fraud. Annual Physicals.

Security 76

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Insights on Business

MAY 18, 2018

The expansion of channels expands the threat of money laundering, fraud, and hacks — as well as regulatory requirements for necessary protections. Artificial Intelligence is now being used by cyber criminals , meaning the sophistication of their methods is increasing, forcing banks to up their game. Efficiency.

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FICO

JULY 31, 2019

The first step is determining whether additional information is needed to assess cyber risk. Based on the combination of criticality and risk, managers of third-party risk should establish a cadence for reviewing critical information. Step Three: Continuously monitor high-impact suppliers. And follow me on Twitter @dougoclare.

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PYMNTS

SEPTEMBER 22, 2017

21) that a glitch on its website may have exposed the personal information of more than 400 of its customers. The report noted that addresses, social insurance numbers and banking information were not among the customer information disclosed due to the glitch.

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PYMNTS

SEPTEMBER 13, 2018

Fraud rates are expected to skyrocket, too, with researchers projecting a nearly 200 percent increase within the next five years. We’re already using AI to analyze underlying patterns in complex market environments, and we’re enhancing client security through biometrics and fraud detection algorithms,” he said. Smarter Security.

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PYMNTS

APRIL 8, 2020

The amount of fraud , scams and misinformation amid the coronavirus pandemic has spread widely in the past month. Microsoft executive Rob Lefferts said in a blog post that hackers had been having a good time of it, too, with more successful attempts at doing their illicit deeds since the virus fundamentally changed western life.

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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.

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Banking 2020

SEPTEMBER 10, 2015

It’s clear that cyber threats and identity theft tactics are getting smarter, and that banks need to amp up their security practices to combat this evolution. Financial institutions have the opportunity to make security investments that also increase their ROI. Do your customers know about these other types of fraud?

Cyber Security 40

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Qudos Bank

FEBRUARY 15, 2024

With online scams leading to millions of dollars in financial losses [2] annually it may be worth paying attention to how well a bank invests in their security and fraud protection, including security practices, privacy measures, and their process for treating fraudulent and unauthorised banking activity. Published May 2023

Cyber Security 52

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Jack Henry

JANUARY 29, 2020

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Cyber Security Security Fraud 134

PYMNTS

JUNE 8, 2018

Unintentionally making themselves targets for scammers, customers may become vulnerable to fraud by complaining to banks on social media when systems crash. After problems with an information technology migration locked thousands of clients out of accounts at the U.K.’s

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social media Cyber Security Fraud System 101

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 48

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PYMNTS

MARCH 10, 2020

service, which lets hackers advertise and sell stolen information, has been arrested by the FBI, according to published reports Tuesday (March 10). He was arrested on charges of aiding and abetting of trafficking and trafficking in stolen information. and verified that it was legitimate hacked user data, not fake information.

National 134

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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

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FICO

AUGUST 4, 2020

Traditionally the vendor security risk assessment process has involved a manual and cumbersome spreadsheet-and-email system that is typically slow, labour-intensive, and potentially inaccurate. One of these sources, that has now been added to the Whistic platform, is FICO’s market-leading Cyber Risk Score.

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Perficient

APRIL 2, 2021

The agencies collectively announced a request for information (RFI) to gain input from stakeholders including financial institutions, trade associations, and consumer groups. fraud detection and financial crime monitoring). email, text, audio data), with the aim of identifying fraud or anomalous transactions. Credit Decisions.

Regulation 309

Regulation Industry Risk Management Analysis 309

PYMNTS

DECEMBER 2, 2019

The Central Bank of Sri Lanka (CBSL) together with experts in Sri Lanka’s Financial and Information Technology (IT) industries, is assessing the possibility of applying Blockchain Technology to streamline Know-Your-Customer (KYC) processes at financial institutions.

blockchain 132

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Qudos Bank

DECEMBER 9, 2021

Unfortunately, scams and financial fraud are becoming more and more common each year. Common behaviours exhibited by people who have been victims of fraud to look out for include: They are suddenly short on money. Most cybercrimes can be reported through the Australian Cyber Security Centre’s Report Cyber service.

Cyber Security 40

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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.

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Cyber Security Report New York Massachusetts 100

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

APRIL 7, 2016

The INFORMS conferences continue to unveil game-changing approaches that businesses are using advanced analytics such as optimization to literally transform lives and businesses. If you’re already planning to come to INFORMS, here are three good reasons to check out what FICO is doing! management science, and analytics.

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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. In Australia, news came that police have charged a quartet of alleged fraudsters with running a business email compromise (BEC) scam.

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PYMNTS

FEBRUARY 6, 2019

Reuters , citing cybersecurity researchers, reported that the attack was part of a global hacking campaign initiated by the Ministry of State Security in China aimed at stealing intellectual property and corporate secrets. But if I put on my paranoia hat, this could have been catastrophic,” he said in the report. “If

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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. It said it learned of it on Sept.

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Jack Henry

APRIL 30, 2014

Cyber-Attacks on Financial Institutions ATM and Card Authorization Systems. In light of the ATM cash-out schemes that had taken place recently, an alert was issued to provide details on how this type of fraud had occurred, the risks presented to financial institutions (FIs), and what FIs could do to mitigate these risks. FBI InfraGard.

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Tech and Finance

DECEMBER 30, 2018

Cyber security pros and risk analysts should be better than the average person at detecting fraud, but a little over three percent submitted their personal identification information to sign up for an app described as “Shazam for voice identification.”. million fraud complaints in the United States last year.

Fraud 31

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Qudos Bank

MAY 11, 2023

With online scams leading to millions of dollars in financial losses [2] annually it may be worth paying attention to how well a bank invests in their security and fraud protection, including security practices, privacy measures, and their process for treating fraudulent and unauthorised banking activity. Published May 2023

Cyber Security 40

Cyber Security Fraud Security Online 40

PYMNTS

AUGUST 6, 2018

Singapore’s Cabinet Minister for Communications and Information S. Those groups who conduct carefully planned cyberattacks to steal information or disrupt operations are usually state-linked, the minister said. The personal information of 1.5 Iswaran said on Monday (Aug. 6) that the cyberattack that infiltrated 1.5

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Cyber Security United States Groups National 100

PYMNTS

JANUARY 7, 2020

The gang demanded $6 million in ransom in exchange for not releasing sensitive information regarding Travelex customers, including birth dates and credit card numbers. Sodinokibi contacted the BBC on Tuesday (Jan. 7), claiming responsibility for the attack that caused Travelex to shut down last week.

Cyber Security 130

Cyber Security Online Retail National 130

SWBC's LenderHub

JANUARY 26, 2016

Krebs on Security is a daily blog that provides detailed insight for information and cyber security, authored by Brian Krebs, an American journalist and investigative reporter. A couple weeks ago, I ran across the blog post below and thought I should pass it along to everyone I knew.

Cyber Security 60

Cyber Security Security Report Fraud 60

Banking 2020

NOVEMBER 24, 2015

First the good news – banks in Britain stopped nearly £1 billion in attempted fraud in the first six months of 2015. Banks prevented £7 in every £10 of attempted fraud, according to Financial Fraud Action (FFA) UK, which reports that losses on payment cards, online and telephone banking and cheques totalled £325.3

Fraud 40

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PYMNTS

NOVEMBER 11, 2016

The chain fell victim to a widespread malware attack that stole customer payment information for more than a year, from May 2014 to June 2015. First, the bank’s fraud system detected suspicious activity , which led to thousands of customer cards being blocked from usage. Just days later, the fraud scare actually became reality.

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PYMNTS

NOVEMBER 6, 2017

Since 2004, October has been observed as National Cyber Security Awareness Month by the Department of Homeland Security (DHS). In September, the consumer credit agency Equifax reported that the personal information of roughly 143 million Americans was compromised in a data breach of epic proportions.

Exercises 119

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