PYMNTS

OCTOBER 22, 2020

As has historically been the case with commerce security upgrades that roll in by government mandate, the path to European Union adoption of 3D Secure 2.0 That’s a path that McCutcheon said will have challenges, but perhaps fewer than we’ve seen in the recent history of security upgrades. also known as “3DS 2.0” Why 3DS 2.0

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PYMNTS

MARCH 2, 2020

A particularly harrowing cloud services-based fraud incident occurred last year, when a disgruntled AWS employee gained access to more than 100 million Capital One customers’ details. The cloud security space needs to completely rethink its options if such strong systems can still be breached.

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PYMNTS

FEBRUARY 27, 2020

Fraud continues to increase in many areas, despite extensive attempts to bring it to heel. Retail fraud attempts have doubled year over year, for example, while account takeover (ATO) fraud losses recently hit $14.7 billion , and phishing attacks now comprise 30 percent of all fraud attempts. billion to $7.2 million USD).

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PYMNTS

AUGUST 17, 2020

When it comes to fraud threats, no company — large or small — is immune. The Federal Trade Commission recently filed a complaint against Yellowstone Capital, Fundry and their officers, alleging the merchant cash advance companies had been withdrawing funds from small business bank accounts.

Fraud 237

Fraud Trends Security Report 237

PYMNTS

JANUARY 21, 2021

Melissa Townsley-Solis, head of GIACT , discusses one of the negative effects of COVID-19: the escalation of fraud in the payments arena. She stresses the importance of small businesses fighting back against fraud in 2021 in order to achieve economic recovery. Fraud was red-hot in 2020. It’s time to fight back.

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PYMNTS

APRIL 27, 2020

As the digital shift continues to keep pace with post-coronavirus shopping behaviors, eCommerce fraud is growing with it. In fact, 22 percent of respondents in a recent TransUnion survey claimed they had “been targeted by digital fraud related to COVID-19.” It is a low-cost security check for website managers as well as consumers.”.

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Fraud Company Security Comparison 164

PYMNTS

SEPTEMBER 3, 2020

Those new avenues of fraud have leveraged hallmarks of the current pandemic — fears over public health and concerns about stimulus checks issued by the government — to snare unwitting victims. . . According to some estimates, as many as 22 percent of Americans have been impacted by COVID-related fraud. . .

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PYMNTS

AUGUST 16, 2019

Capital One employees raised red flags over security risks before the company suffered a massive data breach. She added that the cybersecurity unit’s total head count has risen over the past several years, explaining that “the Cyber Team is a net importer of talent within Capital One.”.

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PYMNTS

DECEMBER 16, 2019

’Tis the season for corporate fraud? The holidays are unfortunately one of the busiest times of the year for fraudsters looking to capitalize on the surge of shopping and payments activity. Unfortunately, this time of year fails to bring relief for businesses that fall victim to corporate and B2B payments fraud, too. In the U.S.,

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PYMNTS

NOVEMBER 18, 2020

It can also serve as a powerful tool in restaurants’ fight against fraud, which is becoming an increasingly prevalent issue as bad actors target the flood of customers using digital channels during the COVID-19 pandemic. Payment protection platform Verifi has partnered with digital fraud protection firm Kount Inc.

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PYMNTS

MAY 31, 2019

’s Metro Bank on behalf of investors concerned that the institution committed securities fraud. According to Pomerantz, the probe “concerns whether Metro Bank, and [certain officers] and/or directors, have engaged in securities fraud or other unlawful business practices.”

Metro 162

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PYMNTS

DECEMBER 7, 2020

Today in B2B payments, Revolut launches a new solution for its business customers, and MonetaGo collaborates to combat trade finance fraud. Plus, Pioneer Bank sues over MyPayrollHR scandal, Procurement Partners secures new funding, and ImagineTime partners on FinTech for accountants. Serent Capital Invests In Procurement Partners.

Fraud 159

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PYMNTS

APRIL 8, 2019

An Israeli startup that creates anti-fraud services that deal with online transactions wants to raise $200 million for expansion, according to a report in Bloomberg. Fraud is becoming an increasingly more common problem in the eCommerce sector, and is estimated to cost merchants about $130 billion over the next five years. “At

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PYMNTS

MAY 12, 2020

In the mad dash to secure Paycheck Protection Program (PPP) funds, small businesses have faced confusion, anxiety and often a lack of clarity as to when they would receive capital – if at all. The process was chaotic for the lenders, too, creating greater potential for fraud amid an unprecedented SMB stimulus effort.

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PYMNTS

DECEMBER 19, 2019

Yet, each of these strategies to modernization is a double-edged sword, exposing a bank — and, thus, its partners and customers — to a new breed of fraud risks. As the Tracker revealed, though, this journey comes with security concerns that add a new level of complexity to banks’ digitization journeys. In the U.K.,

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Fraud Payments Security Fintech 104

PYMNTS

JULY 31, 2019

Krebs On Security is reporting that the alleged Capital One hacker may have also targeted and stolen data from other corporations. Krebs on Security joined the group and combed through months of posts. Capital One Chairman and CEO Richard D.

Capital 108

Capital Company Security Data 108

PYMNTS

JULY 30, 2019

The security breach at Capital One that exposed 100 million credit card applications and thousands of bank accounts and Social Security numbers is rapidly seeing repercussions. . Also on Tuesday, a man affected by the Capital One breach filed a lawsuit against the firm. Reuters reported. Reuters reported.

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PYMNTS

MARCH 1, 2019

Cybersecurity returned to the top of the B2B startup investment list as three companies in the enterprise security realm landed nearly half of the $246 million in B2B venture capital this week. Commerce Ventures, Flint Capital, Two Sigma Ventures, Synchrony and Sorenson Capital also participated, according to reports.

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PYMNTS

JANUARY 3, 2019

A new study has revealed that retailers will lose around $130 billion in digital CNP (Card-not-Present) fraud between 2018 and 2023. A layered FDP (Fraud Detection & Prevention) solution naturally helps directly preventing fraud, but it also offers major gains in terms of recovering potentially lost revenue through false positives.

Fraud 152

Fraud Study Retail Online 152

PYMNTS

MARCH 1, 2016

In a nod to just how important cybersecurity is becoming to larger firms within the financial space, Capital One said on Monday (Feb. 29) that it has brought on board Amazon’s former chief security officer, Tom Killalea.

Capital 100

Capital Security Data Software 100

PYMNTS

OCTOBER 5, 2020

Securities and Exchange Commission (SEC) charged John McAfee for allegedly touting investments in initial coin offerings (ICOs) to Twitter followers without saying that he received payment for doing so, according to a press release. The computer coder and businessperson’s bodyguard, Jimmy Watson Jr.,

Security 202

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PYMNTS

AUGUST 1, 2019

UniCredit , in a memo to its staff on Thursday, said that an internal investigation showed no evidence that a recent data breach at Capital One involved any of its own data, according to a report by Reuters. She is thought to have stolen data on more than 100 million Capital One customers from an Amazon cloud service.

Capital 108

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PYMNTS

NOVEMBER 27, 2020

More consumers than ever are turning to online shopping channels to meet their needs during the pandemic, but many are also aware that cybercriminals are looking to capitalize on this stepped-up online activity to steal their card data. Firms are also prioritizing security as they transact online more heavily as well.

Cards 197

Cards Security Tools Online 197

PYMNTS

DECEMBER 17, 2020

Digital fraud is a long-running problem for merchants, retailers, banks and businesses of all types. 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. Developments From The World Of Digital Fraud.

Fraud 255

Fraud Online Retail Examples 255

PYMNTS

OCTOBER 20, 2017

Two cybersecurity companies came out on top, but they both focus their enterprise security efforts in different ways. Duo Security. The $70 million raise by Duo Security makes this cybersecurity startup the latest unicorn in the industry. This California-based startup has a particular cybersecurity focus: payments fraud.

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PYMNTS

APRIL 16, 2020

You have a limited amount of capital and resources, [but] you want to stay current, which is hard to do,” CEO Gail Taggart said in a recent interview with PYMNTS. Bad actors are taking advantage of the chaos and bringing about an upswing in digital fraud. Fighting Fraud. Restaurants Should Not Forget Their Roots.

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PYMNTS

JANUARY 28, 2020

The matter is explored in detail, with a special focus on threat intelligence, in The Digital Fraud Tracker ® for January 2020, a PYMNTS and DataVisor collaboration. That’s why low-tech approaches should always be part of a multi-layered anti-fraud strategy. Catch Me if You Can. Adding in the Low-Tech Approach.

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Fraud Data Big Data Strategy 143

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? But with regtech in banking, functions such as customizing fraud scenarios to match your institution’s risk tolerance are simple, saving you time, effort, and potential regulatory fines. The staff and support are very friendly, helpful, and responsive."

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Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? But with regtech for banks, functions such as customizing fraud scenarios to match your institution’s risk tolerance are simple, saving you time, effort, and potential regulatory fines. The staff and support are very friendly, helpful, and responsive."

Technology 195

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PYMNTS

AUGUST 1, 2019

Corporate credit card data was not exposed in the massive Capital One data breach that came to light earlier this week, according to Business Travel News reports. While customers of Capital One’s commercial banking division were not affected, reports noted that small business customers were affected by the breach.

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The Paypers

NOVEMBER 15, 2023

AI anti-fraud detection software company, Lynx , has recently announced it secured a Series A funding round of EUR 17 million, with the participation of Forgepoint Capital.

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PYMNTS

JULY 31, 2019

One of Italy’s most well-known banks, UniCredit, said that it was going to start its own probe into the Capital One data breach, according to Reuters. . “On On July 30, UniCredit became aware that its name has been mentioned in relation to the Capital One issue,” the bank said in a statement on Wednesday (July 31). Reuters reported.

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PYMNTS

NOVEMBER 3, 2019

Capital One saw an outage on Friday (Nov. Capital One is experiencing a technical issue impacting customer money movement, including direct deposits, and the ability for some customers to access accounts. Capital One saw an outage on Friday (Nov. We greatly apologize for the inconvenience,” Capital One said in a tweet on Friday.

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PYMNTS

DECEMBER 18, 2020

Cybercriminals have been homing in on eCommerce retailers that are seeking to capitalize on the rise of online shopping this season, as they believe that “they will be more likely to get through unabated,” the company said. Digital fraud is a longstanding issue for retailers and banks. The pandemic has only made these issues worse.

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Bank Innovation

SEPTEMBER 7, 2017

EXCLUSIVE—Cloud infrastructure and data analytics are becoming more and more integral to financial services, and Capital One is one bank ahead of the curve. “We We are a very data-driven company, we want to bring the bank to the customer,” Linda Apsley, vice president of data engineering at Capital One, said of the bank’s use of […].

Capital 207

Capital Innovation Analytics Data 207

PYMNTS

MARCH 22, 2018

Fraud detection startup Sift Science has raised $53 million in a series D round, bringing its total amount raised to $107 million. The startup’s previous investors include Reddit’s Alexis Ohanian, Salesforce’s Marc Benioff, PayPal cofounder Max Levchin and venture capital firm Andreessen Horowitz.

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PYMNTS

AUGUST 29, 2019

billion due to cyberattacks , fraud, terrorism and other risk factors, according to new research by insurance broker Gallagher. “When it comes to crises, cyber and IT security clearly represent a ‘soft underbelly’ of businesses that together account for more than 99 percent of private firms. lost an estimated $10.74

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