Mastercard has unveiled a new approach to identify compromised payment cards, leveraging a combination of generative artificial intelligence and graph technology. The company reports that this method has doubled its detection rate for compromised cards before they can be used fraudulently. The new technique could...
Revolut has reportedly denied thousands of British customers reimbursement requests after they were defrauded. This has led many of these consumers to seek help from the U.K.’s Financial Ombudsman Service (FOS), Bloomberg News reported Saturday (July 20). The report cited data from the FOS showing...
The right customer data, in the right hands, can have a transformative impact on businesses. But in the wrong hands, the same sensitive information can be leveraged by bad actors and cybercriminals with catastrophic and increasingly costly outcomes. “If you think about what bad guys...
Voice authentication and security firm Pindrop has raised $100 million in debt financing. The funding, announced Wednesday (July 17) and coming from Hercules Capital, allows Pindrop to further develop its audio, voice, and artificial intelligence (AI) technologies for customers in industries that include banking, finance,...
As online scams and financial crimes continue to surge at the halfway point of 2024, banks and payment companies are ramping up efforts to protect consumers and their own bottom lines. At the forefront are new technology solutions and a call for greater collaboration and...
The IRS is warning tax professionals of a rise in scams designed to steal taxpayer information. The tax agency and its “Security Summit” partners — a group of state tax agencies and private tax industry organizations — said Tuesday (July 16) they are seeing a...
Federal agencies are warning financial institutions about timeshare fraud schemes associated with Mexico-based transnational criminal organizations. The Financial Crimes Enforcement Network (FinCEN), jointly with the Department of Treasury’s Office of Foreign Assets Control (OFAC) and the FBI, released a notice on the topic Tuesday (July...
The impact of the hack on car dealership software firm CDK Global continues to reverberate. AutoNation, one of the largest dealership chains in the country, warned on Monday (July 15) that the cyberattack will impact its second quarter earnings by $1.50 per share. The company...
The interconnected global operating landscape has never held more opportunity for businesses. Or more threats. Gaining a deeper understanding of the threat landscape and the top tactics, techniques and procedures (TTPs) of ransomware gangs is increasingly crucial for firms. News broke Friday (July 12) that...
