First came phishing. Now, consumers and cyberdefenders need to guard against “quishing.” As the Financial Times (FT) reported Sunday (Oct. 27), banks and regulators are warning against the rise of this type of phishing scam, which involves QR codes. Banks such as Santander and HSBC...
Fear can be a powerful motivator, especially where payments fraud is concerned. While financial institutions have a healthy fear of high-profile fraud vectors like business email compromise and authorized push payments fraud, they may not have developed it around a new source of concern: instant...
The U.S. Treasury Department said artificial intelligence (AI) has helped fuel a fraud/improper payments recovery. The department announced Thursday that its “technology and data-driven” approach allowed it to prevent and recover more than $4 billion in fraud and improper payments, up from $652 million during...
Citibank lawyers urged a judge Tuesday (Oct. 8) to throw out a suit filed in January by New York Attorney General Letitia James that accuses the bank of failing to protect fraud victims. The lawyers argued that the bank has protections in place for consumers...
October 23, 2024
Fear can be a powerful motivator, especially where payments fraud is concerned. While financial institutions have a healthy fear of high-profile fraud vectors like business email compromise and authorized push payments fraud, they may not have developed it around a new source of concern: instant account funding fraud. And with the Consumer Financial Protection Bureau […]
August 02, 2024
Consumers are turning to peer-to-peer (P2P) apps like Venmo and Zelle for quick and easy money transfers. But while these services have become ubiquitous, concerns about fraud are casting a...
July 24, 2024
The Security Summit has issued a stern warning to tax professionals, urging them to heighten their awareness of indicators of identity theft as part of the ongoing “Protect Your Clients;...
February 13, 2024
In this era of connectivity, where virtual encounters often precede physical ones, online relationships have become a breeding ground for exploitation, with fraudsters capitalizing on the vulnerabilities of hopeful hearts...
October 28, 2024
A Federal Trade Commission (FTC) lawsuit that alleges an “online business opportunity scam” led a federal court to temporarily shut down the operations of Lunar Capital Ventures, Ecom Genie and Profitable Automation. According to a complaint filed by the FTC, these three entities and the now-dissolved company Valiant Consultants claimed consumers could earn “lavish” profits […]
October 27, 2024
First came phishing. Now, consumers and cyberdefenders need to guard against “quishing.” As the Financial Times (FT) reported Sunday (Oct. 27), banks and regulators are warning against the rise of...
October 17, 2024
The U.S. Treasury Department said artificial intelligence (AI) has helped fuel a fraud/improper payments recovery. The department announced Thursday that its “technology and data-driven” approach allowed it to prevent and...
October 08, 2024
Citibank lawyers urged a judge Tuesday (Oct. 8) to throw out a suit filed in January by New York Attorney General Letitia James that accuses the bank of failing to...
