article thumbnail

Crypto 2020: One Step Up; Two Steps Back

PYMNTS

Or maybe that cryptocurrencies have yet to go mainstream beyond the headlines because fraud still lurks. The Federal Reserve said this year that its Boston bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency. Keeping An Eye On Fraud.

article thumbnail

Buying into AML risks in real estate

Abrigo

Key Takeaways Real estate markets are vulnerable to money laundering and fraud because of their transaction size and appreciation over time. According to the National Association of Realtors, there were more than 106,000 real estate brokerage firms in the United States. of the United States GDP, with estimates exceeding $3.9

El Paso 195
Insiders

Sign Up for our Newsletter

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

article thumbnail

Mastercard’s Threat Scan Helps Banks Detect Vulnerabilities

PYMNTS

As weaknesses in authorization systems can be exploited by online thieves, financial services firms are more vulnerable to hackers and get hit 300 times more often than other businesses, according to the Boston Consulting Group. Threat scan intuitively mimic fraudulent behavior and can be used in conjunction with tools already in place.

Boston 177
article thumbnail

Comey On FBI’s POV On Cybercrime

PYMNTS

FBI Director James Comey discussed cybersecurity issues at a Boston College cybersecurity conference this week, highlighting that Americans should let go of their expectations of “absolute privacy.”. There is no such thing as absolute privacy in America; there is no place outside of judicial reach,” Comey made clear to the crowd.

article thumbnail

FinCEN Steps up Efforts to Protect Against the Six Biggest Threats to the U.S. Financial System

Abrigo

Blanco discussed the organization’s active approach toward addressing the top financial threats to our financial system, our national security, and our communities and families. FinCEN is committed to addressing compliance failures that put our financial system and national security at risk. The 12 major U.S.

System 264
article thumbnail

Cybric Makes DevSecOps A Reality

PYMNTS

Boston-based company Cybric is a relative newcomer on the cybersecurity scene, but it’s re-envisioning how developers test the security of their applications. “If On our back end, we monitor in the national vulnerability database in real time.”. Cybric will know about any new vulnerability released, noted Kail, even on Zero Day.

Security 100
article thumbnail

AI and generative AI use cases in banking: 6 real-world examples

Abrigo

You might also like this webinar, "The check's in the mail: Understanding and preventing check fraud." Many financial institutions have been using artificial intelligence (AI) for years, particularly in supporting cybersecurity and anti-fraud efforts. How banks and credit unions use genAI today Short supporting copy.

Examples 221