Remove 2012 Remove Security Remove social media Remove Technology
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DOJ Antitrust Lawsuit Against Facebook No Slam Dunk

PYMNTS

Facebook bought Instagram, the photo- and video-sharing social networking service, in 2012 for $1 billion and WhatsApp, the cross-platform messaging service, in 2014 for $19 billion. Other technology giants including Google , Amazon and Apple are also facing probes. There is no ‘it’s too hard’ defense,’” Wu told WSJ.

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Facebook Says It’s Open To New Regulation

PYMNTS

According to a report in Reuters citing Facebook’s public policy manager Karim Palant, the executive said the social media giant is “open to meaningful regulation.” Facebook is “not the same company” even a year ago, with the social media giant already instituting a lot of changes, the executive noted.

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 Ransomware Gains Traction, UK BEC Fraud Spikes

PYMNTS

Aided by technology – and emboldened by the rise of cryptocurrencies – fraudsters are stepping up ransomware campaigns. 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.

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Apple Pay Faces Hemispheric Pressure

PYMNTS

This time, a number of Australian retailers and payments associations are supporting three Australian banks that want Apple to give third-party access to its secure NFC module for Apple Pay. According to AppleInsider , the three Australian banks argue that Apple is anticompetitive because it restricts its NFC technology to Apple Pay only.

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Deep Dive: GDRP And The EU’s New Rules Of Data Handling

PYMNTS

The social media platform has admitted the incident may have impacted as many as 87 million users. The guidelines were equally prompted by rapid social media growth, globalization and technology penetration, all of which have made it easier for personal information to be accessed or exchanged.

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It’s Getting Real On The Retail Revolution Frontline

PYMNTS

These days, retail merchants must reach customers, both in-store and online, securely and conveniently. Now that merchants are more responsible for fraud that happens in their stores, he said, “it’s our responsibility to teach them about these tools, like EMV, that can secure them and secure their businesses.

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Fastacash Secures $15 Million in Series B Investment

Fintech Labs Insights

In one of the largest Series B rounds to date for a Singapore-based financial technology company, social payments specialist, Fastacash raised $15 million in new funding. Founded in April 2012 and headquartered in Singapore, Fastacash currently operates in India, Indonesia, Russia, Singapore, and Vietnam.