More than 10,000 financial institutions (FIs) are currently participating in open banking initiatives worldwide. But as it turns out, approximately 49 percent of banking customers do not trust that their personal data will be kept secure. In the latest Preventing Financial Crimes Playbook, John Elliott,...
The Wirecard scandal surrounding the German payment processor missing $2.1 billion has spilled over the border to Belgium. 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 to...
According to auditor Ernst & Young (EY), German payment processor Wirecard knowingly gave false statements and was in the midst of “elaborate and sophisticated fraud involving multiple parties around the world” in regards to $2.1 billion on its books that may not exist. Get the...
Gareth David Long, a 41-year-old Las Vegas resident, was sentenced to 70 months in prison for fraud for stealing money from victims’ accounts, the Department of Justice said in a press release. Get the Full Story Complete the form to unlock this article and enjoy...
Digital fraud and cybercrime are constant worries for financial institutions (FIs) of all sizes, with these businesses seeing an average of 30 cyberattacks per hour in 2019 for a total annual cost of $1.45 trillion in stolen funds. Get the Full Story Complete the form...
The Philippines has launched an investigation into the missing $2.1 billion that Wirecard said it deposited in two of the island nation’s banks, Reuters reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...
Messaging app Telegram said a data breach has exposed a database containing the personal information of millions of users, according to a Cointelgraph report. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content —...
As the Wirecard scandal unfolds, SoftBank Group Corp. is facing questions about its investment in the embattled German payment services provider, CNBC reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional...
As the world must go increasingly digital — perhaps permanently — people who had resisted the great shift to eCommerce have had to make the leap. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS...
