article thumbnail

Facebook Threatens EU Pullout As Data Sharing Comes Under Scrutiny

PYMNTS

In a bit of high-tech saber-rattling, Facebook is threatening to pull the plug on its social media platform in the European Union if a controversial decision by Irish regulators is allowed to stand. That could prove to be “immensely complicated,” the Times reported, and likely highly expensive. “A according to Metro.

article thumbnail

Bank wire fraud – How social engineering and technology perpetrate fraud losses

Abrigo

In 2023, reported fraud losses surged to over $10 billion, a 14% increase from 2022, despite a similar number of cases being reported at 2.6 billion in losses reported. The total loss attributable to wire transactions was $344 million, as described in 42,729 reports to the FTC. Investment scams were #1, with over $4.6

Fraud 195
Insiders

Sign Up for our Newsletter

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

article thumbnail

Standard Chartered, Amazon To Offer Installment Payments In UAE

PYMNTS

Standard Chartered cardholders will now be able to convert purchases to monthly installments for up to a year without having to call a bank or fill out any forms, the report stated. store," he said in the report. Payfort managing director Omar Soudodi said the offering would help to bolster financial choice. "We

Payments 207
article thumbnail

NEW REPORT: Restaurant Re-Openings And The Guest Recovery Challenge

PYMNTS

It is also shedding light on just how digital the restaurant industry has become, showcasing the importance of online reviews and robust social media presences as well as swift digital delivery and pickup options. The initiative, which expands upon a collaboration already underway in the U.S., About the Tracker.

Report 189
article thumbnail

German Court Orders Facebook To Stop Data Collection

PYMNTS

The German Federal Court has ordered Facebook to comply with an order from the country’s antitrust regulator and stop data collection of users in the country, Reuters reported Tuesday (June 23). The ruling is a setback for the U.S. Facebook said there was no antitrust abuse and vowed to continue fighting the ruling.

Data 209
article thumbnail

Report: Helping Online Merchants Comply With The Middle East’s New Payments Regs

PYMNTS

One area where the pandemic may significantly impact emerging data protection and open banking rules is the Middle East and North African region (MENA). The ongoing pandemic has caused many regulators in the MENA region to examine the digital and open banking infrastructure they have in place. Around The Data Protection World.

Online 151
article thumbnail

Small Business Rescue Program Faces Tech Challenges

PYMNTS

Lenders faced loan requests in the thousands, as they encountered difficulties with tech access and changing paperwork, Reuters reported. In addition, community bankers shared their frustrations on social media about not being able to get into the system and modifications to the form. More than 85,000 people asked for $22.2