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 Ransomware Gains Traction, UK BEC Fraud Spikes

PYMNTS

We are seeing gangs involved in drug trafficking and firearms offenses turning to fraud, targeting victims across the U.K. These criminals are exploiting new technologies to commit fraud, posting adverts on social media to try and recruit money mules,” he said. Fraud that was in turn prevented by the unit amounted to as much as $8.2

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Synchrony Says Erroneous Email Not Tied To Data Breach

PYMNTS

Senators Ron Wyden of Oregon, Chris Van Hollen of Maryland, Ed Markey of Massachusetts, Chris Coons of Delaware and Gary Peters of Michigan sent a letter asking whether the technology could be accessed by foreign entities or whether it posed a risk to national security.

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Theranos Thrashed By Investor Law Suit

PYMNTS

The suit was filed by San Francisco-based Partner Fund Management in Delaware Court of Chancery on Monday October 10. Holmes can no longer work in labs until the appeal is settled, and testing operations were shut down in Arizona. The firm faces civil and criminal investigations. million in February 2014.

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Darden Cyberattack Puts 567K Cards At Risk

PYMNTS

In a press release , the restaurant chain operator said it was notified on August 16, 2018, by federal authorities that a legacy point-of-sale system for some of its Cheddar’s Scratch Kitchen restaurants, a brand acquired by Darden last year, may have been compromised via a hack that involves restaurants in 23 states.

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Blockchain Tracker: Banks’ Experimentation With Blockchain Tech

PYMNTS

Committing identity fraud is typically at the core of data-stealing schemes in an attempt to steal money. As blockchain does not depend on any one centralized system to operate, this likely poses a problem for the well-regulated banks around the world. In the U.S. From the U.K. receiving £3.6 From the U.K. receiving £3.6

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Banking Is Only The Beginning: 30 Big Industries Blockchain Could Transform

CB Insights

Ultimately, the use cases for a transparent, verifiable register of transaction data are practically endless — especially since blockchain operates through a decentralized platform requiring no central supervision, while still remaining resistant to fraud. Payments and money transfers. Ride sharing.