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New Wire Fraud Scam Reroutes Direct Deposit Paychecks

PYMNTS

KVC Health Systems, a child welfare nonprofit based out of Kansas City, has been hit with the scam. The fraud is fairly easy to pull off because it ignores and bypasses many existing controls for capturing it. Once the changes are made, a paycheck will go directly into a criminal’s account.

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Fed Names New Payments Security Leader

PYMNTS

Federal Reserve System has appointed its Payments Security Strategy leader, the agency announced Friday (Dec. He will lead the Fed’s initiative to address payments fraud risk and boost the security of payments in the U.S. Montgomery will also retain his position at the Boston Fed, where he focuses on services for the U.S.

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Fed Becomes Founding Sponsor Of Faster Payments Council

PYMNTS

“Our payment system is a vital part of America’s infrastructure that touches everyone,” said Esther George, president and chief executive officer of the Federal Reserve Bank of Kansas City. so people can make secure payments anytime or anyplace, with near-real-time funds availability.

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Health Care Companies Data At Risk Of Being Compromised

PYMNTS

Social Security numbers, medical information, bank account numbers and claims information were not part of the hack. John Huff, director of the Missouri Department of Insurance, said in a statement in the report that information on 411,786 members of Blue Cross Blue Shield of Kansas City was potentially taken.

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New Cyberattacks Aim for ATM Management Systems

Independent Banker

It’s called ATM cash-out fraud, and it’s a new data security threat where physical attacks and cyberattacks converge. Even some multifactor security systems have been broken this way, says Dani Creus, a researcher with security software firm Kaspersky Lab in Woburn, Mass. Current Tech. By Maria Korolov.

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Alexa, Stolen Fingerprints And The Rest Of The Week’s News

PYMNTS

Security researchers at Kaspersky Lab revealed at the Kaspersky Security Analyst Summit in Singapore that a dark net marketplace has emerged, in which hackers are selling digital fingerprints for anywhere from $5 to $200. KVC Health Systems, a child welfare nonprofit based out of Kansas City, has been hit with an email scam.

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Mobile Payments: What’s In It For Me?

PYMNTS

But security is an ever-present concern. However, our research continues to show that security remains a key concern for all mobile payment users.” ” While the Fed added fuel to the cybersecurity fire today as Kansas City Federal Reserve President Esther George stated that concerns with cybersecurity in U.S.

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