article thumbnail

 Ransomware Gains Traction, UK BEC Fraud Spikes

PYMNTS

In comments reported earlier this week, cyber insurance security responder Tom Bennett of CFC Underwriting told The Financial Times that that claims surged in June and July. The threat actors realized they can amplify their impact by targeting specific companies such as managed service providers,” said Bennett.

Fraud 180
article thumbnail

Brooks Brothers Seeks Court Approval For $305M Stalking Horse Bid

PYMNTS

The retailer said it filed a motion in United States Bankruptcy Court for the District of Delaware to receive the go-ahead for the asset purchase deal with SPARC. In mid-July, news surfaced that Brooks Brothers had secured an $80 million loan sans interest after the company made a bankruptcy filing.

Delaware 130
Insiders

Sign Up for our Newsletter

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

article thumbnail

U.S. Bank: Machine Learning Is Banks’ Best Bet Against Fraud

PYMNTS

About 40 percent of all ATO attacks now count as high-risk, meaning banks of all shapes and sizes must reexamine how they think about data protection, security and the tools they use to guard against emerging threats. market debut. For more on these and other stories, visit the Tracker’s News and Trends section.

Fraud 196
article thumbnail

Who Should Lead The Digital ID Push?

PYMNTS

Despite all the discussion about verifying digital IDs without creating friction for the user, recent incidents like cybercriminals using AI to impersonate an energy company’s CEO to falsely request money could give security professionals nightmares. There’s no question the world is moving in a digital direction. Department of Commerce.

Wyoming 136
article thumbnail

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. The suit was filed by San Francisco-based Partner Fund Management in Delaware Court of Chancery on Monday October 10. Theranos, a U.S.

article thumbnail

Digital Driver’s Licenses Are Put To The (Pilot) Test

PYMNTS

They can then use the digital versions when visiting age-restricted merchants, interacting with police at traffic stops or in airport screenings with Transportation Security Administration (TSA) personnel. It’s something that the general public has an appetite for,” Werner said. Pilot Testing Digital IDs.

Wyoming 124
article thumbnail

OCC outlines risk plan as Northeastern loan growth doubles

Abrigo

” As a regulatory body, the OCC said it will focus on the following to address the increasing risk: • Execution of bank strategic plans and management of strategic risk. • Liquidity risk management and adequacy of contingency funding plans. • Vendor and third-party management processes. The OCC on Oct.