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Experts: US House Examines Legislative Actions To Combat Cybercriminals

PYMNTS

But Kellerman and other security experts advocated at the hearing for legislative measures, such as modernizing anti-money laundering (AML) and forfeiture rules and moving the Secret Service to the Treasury Department, to help combat the threat.

US 227
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EMV’s Online Fraud Attack Push

PYMNTS

Though the industry knew it was coming, the sharp migration of fraud from in-store to online channels with the growing adoption of EMV is still enough to keep any online merchant up at night. The data show that since the October 2015 EMV liability shift, United States fraud attacks have jumped by 11 percent.

Fraud 100
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BEC Run Out Of Detention Center Nets Millions

PYMNTS

Mobile means one can do just about anything by using their device: order food, bank online, read the news … even commit payments fraud, sometimes from the unlikeliest of places. In Australia, news came that police have charged a quartet of alleged fraudsters with running a business email compromise (BEC) scam.

Idaho 153
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US And UK Blame Russia For NotPetya Virus

PYMNTS

The United States and Britain have accused Russia of releasing a cyberattack that impacted computers around the world and could be used to launch offensive attacks. and British officials warned that infected routers could be used to launch future offensive cyber operations.

US 116
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Shazam! Experts Fell For a Fake Product From A Nonexistent Company In A Fraud Test

Tech and Finance

Cyber security pros and risk analysts should be better than the average person at detecting fraud, but a little over three percent submitted their personal identification information to sign up for an app described as “Shazam for voice identification.”. million fraud complaints in the United States last year.

Fraud 31
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Another Group of Hackers Target Swift, According To Symantec

PYMNTS

A second hacking group is targeting banks through the Swift Inerbank Messaging system, according to a report out from cyber-security firm Symnatec yesterday (Oct. Symantec said it would share technical information about Odinaff with banks, governments and other security firms.

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April 2014: A Busy Month for Fraud Alerts!

Jack Henry

Cyber-Attacks on Financial Institutions ATM and Card Authorization Systems. In light of the ATM cash-out schemes that had taken place recently, an alert was issued to provide details on how this type of fraud had occurred, the risks presented to financial institutions (FIs), and what FIs could do to mitigate these risks. FBI InfraGard.

Fraud 88