A 53-year-old businessman has been charged with fraud targeting Puerto Rico’s second-largest commercial bank, Westernbank. The bank subsequently failed, showing losses connected to the fraud of $140 million. Westernbank was taken over by the Federal Deposit Insurance Corporation.
Yahoo’s data breach seemed the last gasp for Yahoo. But the company’s legacy lives on. Because the breach in 2014 was so large and it is not clear when the company was aware of the attack or whether authorities should have been informed earlier, the...
There’s no question that, in today’s digital age, borders are quickly starting to disappear. It’s easier than ever for businesses (and commerce) to digitally connect, but this also presents an even larger opportunity for fraudsters to wreak havoc. In a recent digital discussion, ThreatMetrix joined...
Global banks using SWIFT networks, the global interbank messaging system used to move trillions of dollars each day, are stepping up their security systems amid the rising threat of cyberattacks. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
A group of hackers stole documents from investment bank WestPark Capital and threatened to release the data unless the bank pays a ransom. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no...
A hacker’s job is never done. Though they work hard to scam, defraud and launch malicious attacks, there’s also many times when we make their job just a little too easy. In this week’s Hacker Tracker, we take a look at how a weak defense...
EMV: The three little letters that represent the single most hotly debated and discussed topic in the U.S. payments and commerce ecosystem for nearly the entirety of the last two years. Get the Full Story Complete the form to unlock this article and enjoy unlimited...
One of the unintended consequences in the rise of eCommerce is a related rise in cyberfraud attacks on online shoppers. 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...
Payments technology evolves, and so does fraud. In the ongoing battle for speed, accuracy and safety, TNS’ Global Payments Strategy Head George Zirkel says it is important to keep an eye on the long (very long) game.
