As federal investigators recognize the connections between cyber and traditional financial crimes, the U.S. Secret Service has established a single agency to fight them, the Secret Service announced in a press release. Get the Full Story Complete the form to unlock this article and enjoy...
Much has been said about the viability of biometrics for guarding against bad actors, but financial institutions (FIs) cannot simply assume that all of their customers want to use such tools. In the latest FI Fraud Decisioning Playbook, Ryan Leblond, manager of fraud prevention for...
Punjab National Bank shares fell by nearly 6 percent late Thursday (June 9) after it was defrauded $491 million by one of its customers, The Wall Street Journal reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
Cryptocurrency exchange Bitfinex must answer allegations by the state of New York that the Hong Kong-based company hid more than $800 million in losses of client and corporate funds, the New York Court of Appeals ruled Thursday (July 9), according to Bloomberg. Get the Full...
Banks have been facing a concerning rise in account takeover (ATO) attacks targeting their customers, with financial institutions (FIs) losses due to such schemes rising 72 percent from 2018 to 2019. Get the Full Story Complete the form to unlock this article and enjoy unlimited...
Adding to the series of legal difficulties for Wirecard, the Justice Department is looking to see if the German payments company had an essential part in a purported $100 million bank fraud case involving a digital cannabis firm, The Wall Street Journal reported, citing unnamed sources....
Americans have lost more than $77 million in COVID-19 fraud since the start of the year, according to the Federal Trade Commission (FTC). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional...
The court-appointed administrator guiding Wirecard AG’s insolvency said dozens of investors have emerged to buy what’s left of the Munich-based payments company, Reuters reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content —...
The U.S. Treasury Department’s financial crime unit has alerted financial institutions (FIs) about imposter scams arising during the COVID-19 pandemic. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe...
