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 Ransomware Gains Traction, UK BEC Fraud Spikes

PYMNTS

In comments reported earlier this week, cyber insurance security responder Tom Bennett of CFC Underwriting told The Financial Times that that claims surged in June and July. The threat actors realized they can amplify their impact by targeting specific companies such as managed service providers,” said Bennett. Corporate Wire Fraud.

Fraud 180
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U.S. Bank: Machine Learning Is Banks’ Best Bet Against Fraud

PYMNTS

Banks lost about $4 billion to account takeover (ATO) fraud attempts last year and fraudsters have been reluctant to abandon the scheme as this year progresses. Fraudsters made off with account numbers and other personal details, which could later be used for different synthetic identity fraud or related schemes. digital bank Monzo.

Fraud 196
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Signifyd Data Shows Fraud Is Actually Declining

PYMNTS

Fraud isn’t perpetrated by a random assortment of individuals; it’s organized crime. It’s “fraud as a Service.” It’s a very unfair match, if you ask Skye Spear, VP of eCommerce fraud-fighting firm Signifyd. “I Classic fraud deflection is rules-based. Fraud is dynamic. It’s a business. percent in Q1 2017.

Fraud 109
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Theranos Thrashed By Investor Law Suit

PYMNTS

The suit was filed by San Francisco-based Partner Fund Management in Delaware Court of Chancery on Monday October 10. The suit was filed by San Francisco-based Partner Fund Management in Delaware Court of Chancery on Monday October 10. Theranos, a U.S.

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Who Should Lead The Digital ID Push?

PYMNTS

Despite all the discussion about verifying digital IDs without creating friction for the user, recent incidents like cybercriminals using AI to impersonate an energy company’s CEO to falsely request money could give security professionals nightmares. There’s no question the world is moving in a digital direction. Department of Commerce.

Wyoming 136
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Digital Driver’s Licenses Are Put To The (Pilot) Test

PYMNTS

They can then use the digital versions when visiting age-restricted merchants, interacting with police at traffic stops or in airport screenings with Transportation Security Administration (TSA) personnel. It’s something that the general public has an appetite for,” Werner said. Pilot Testing Digital IDs.

Wyoming 124
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Banking Is Only The Beginning: 30 Big Industries Blockchain Could Transform

CB Insights

Ultimately, the use cases for a transparent, verifiable register of transaction data are practically endless — especially since blockchain operates through a decentralized platform requiring no central supervision, while still remaining resistant to fraud. Some startups are looking to build blockchain technology into an IoT platform as well.