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New Ransomware Uses Social Media, Demands Payment in Bitcoin

Bank Innovation

A new type of ransomware is targeting users through their social media accounts, most notably through Facebook and LinkedIn, before doing what ransomware does: locking the computer and demanding payment for access–in bitcoin.

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Revolutionizing the Way We Pay: The Top Payment Industry Trends You Need to Know in 2023

Perficient

Security/Biometric Payments With the widespread popularity of digital payments continuing to grow, security remains at the forefront of concern for payment companies and their vendor partners. To use this offering, cardholders enrolled a fingerprint to have securely stored on their card.

Industry 471
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India Mulls Requesting eCommerce, Social Media Players To Store Customer Data Locally

PYMNTS

India is mulling the idea of requesting eCommerce and social media companies to only store customer data locally, which could impact the likes of Amazon and Facebook and its WhatsApp messaging service in the country. That recommendation will go before Parliament, which is coming up with a data privacy law for the company.

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How Mobile Technology Is Changing Insurance Claims

PYMNTS

“I think one of the largest reasons [insurers are still using checks] is because claim payments, the paying out of a claim, is [a] loss of money, and it is really hard for companies to focus or invest resources in a place in which you are losing money already,” Michele Schmitt, senior product manager for B2B insurance technology firm Tr?v

Mobile 198
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Identity As A Service To The Rescue

PYMNTS

Social media platforms are infested with phonies, and not just your best friend’s irritating co-worker (although he totally is). This is about the fact that fake identities comprise 25 percent of new social media accounts created every day, and that 53 percent of all social media logins are fraudulent , according to a recent study.

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Craigslist Founder Invests $5M In Former Facebook Exec’s Security Project

PYMNTS

A $5 million gift from Craiglist’s Craig Newmark Philanthropies will support a new program, led by former Facebook security expert Alex Stamos. Stamos, who left Facebook last August, called the power given to social media companies to police election issues “insane.”. But it’s because governments aren’t stepping up.”.

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Emergent Technology Invests In Trust Stamp To Verify Identities

PYMNTS

Emergent Technology, the blockchain technology company, announced on Tuesday (Sept. In a press release , Emergent Technology said T Stamp, which is known as Trust Stamp, makes artificial intelligence and biometric hashing technology for the purpose of verifying identities.