Video game developer Valve plugged a security bug that could have been used by gamers to fill their Steam wallets with unlimited funds, ThreatPost and other media outlets reported. A Hackerone security researcher submitted the exploit and was awarded a $7,500 bug bounty for discovering...
Cybersecurity is of the utmost concern for financial institutions (FIs) of all types, ranging from community credit unions to multibillion-dollar international banking conglomerates to everyday consumers. More than 2 million fraud reports were issued to the Federal Trade Commission in 2020, reaching a total loss...
Fraudsters took advantage of the chaos of the past year, targeting banks, businesses and consumers as all three moved more of their payments and private information online. The costs of financial crime reached a new global high of $42 billion in 2020, with money laundering...
Fraudsters’ use of social engineering and phishing continues to triumph many of the modern-day fraud-fighting techniques. In this month’s Digital Fraud Tracker, PYMNTS talked with Enrique Alvarez, special agent for the FBI’s cyber branch, about how combining multifactor authentication and AI can help save merchants...
Financial institutions (FIs) often shut down accounts at the first sign of fraud, but this blanket approach can alienate legitimate users and let stealthier cybercriminals slip through the cracks. In the latest Preventing Financial Crimes Playbook, PYMNTS spoke with an FBI spokesperson to examine why...
Digital fraud has been a steadily growing issue over the past few decades, but it was kicked into overdrive during the past year due to record levels of digital engagement. Fraud attempts against businesses have increased by 46% since 2020, and this figure is only...
More businesses and consumers are conducting their daily tasks and transactions online, meaning offering seamless digital experiences is becoming increasingly important for today’s financial institutions (FIs). This also means banks must work to ensure their online services are kept secure against the bad actors as...
Many companies have taken their operations remote over the past year, and it is becoming clearer as 2021 progresses that a sizable share will keep them that way — even as brick-and-mortar locations reopen. Seventy-eight percent of CEOs agree that remote working and collaboration will persist...
More employees are taking their work home with them as businesses worldwide pivot toward remote operations. These moves have not been without their challenges, however, particularly in the cybersecurity realm. Firms are beginning to realize that the approaches that served them well in the office...
