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Worried About Digital Fraud Now? Just Wait For The Implants.

PYMNTS

Brain implants are developing to a point that would still seem like science fiction to many — and will almost certainly have impacts on the exercise of payments and commerce. The payment and commerce opportunities of such technology is obvious, and the wearables market is helping to guide the way toward the potential (likely?)

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Instagram Hack Bigger Than Thought

PYMNTS

Instagram, the photo sharing social media network owned by Facebook, said late last week that a cyberattack impacted more people than it previously thought. The data stolen in the hack has already made its way online and is being sold, some for $10 via Doxagram, an Internet database the Wall Street Journal cited Instagram as saying.

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Fraud prevention and detection: Empowering clients through education

Abrigo

Client fraud education to prevent banking losses Financial institutions play a crucial role in safeguarding customers and members from fraud. Fraud education is key. You might also like this infographic: 5 Fraud typologies impacting you and your customers or members. DOWNLOAD Takeaway 1 U.S.

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Are You Ready For A Cyberattack?

PYMNTS

Large corporates will all have a ‘what-if’ plan in place that has been stress-tested via a crisis simulation or role play exercise,” said Sarah Adams, cyber insurance expert, who commissioned the study for PolicyBee. Only 14 percent had a detailed and tested plan in place, according to a PolicyBee survey.

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Romance scams: Protecting hearts and wallets

Abrigo

WATCH Takeaway 1 Romance scams are one of the most common forms of fraud schemes seen in the U.S. Takeaway 3 Romance scams can happen to anyone, but staying informed and following these precautions can create a safer online dating experience. Report any scam or attempted fraud to the FBI and your financial institution.

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Red Envelopes, Fortnite And The Rise Of Micro Money Laundering

PYMNTS

Once the account fills up with V-bucks, they are then sold through a legitimate vendor like eBay , or on the dark web, for lower rates than the $10 for 1,000 that gamers get in the game or through an authorized online store. Red envelopes, in fact, stand as only one example of that trend. Proactive Approach.

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AML/CFT hot topics: What to expect in 2023

Abrigo

Takeaway 2 Banks should be proactive in understanding fraud trends and FinCEN priorities to prepare for future rulemaking. Increased fraud According to the Federal Trade Commission , consumers lost more than $5.8 billion to fraud in 2021, a 70% increase over the prior year. That represents nearly 2.8

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