Meta launched an anti-fraud information-sharing partnership with banks in the United Kingdom. The Fraud Intelligence Reciprocal Exchange (FIRE) is a “threat intelligence sharing program” that lets banks share information with Meta directly so the tech giant can use it to stop scammers, according to a...
Cybersecurity is a pressing and complex challenge for financial institutions. It’s a space where technology and strategy must align to ensure resilience and compliance, and it sits against an evolving and dynamic backdrop of operational innovation, particularly as it relates to cloud computing. “Organizations still...
The expanding ecosystem of card issuance demands a new approach to defending against fraud as criminals become more sophisticated and employ advanced technologies to steal card data or hide behind synthetic identities. The PYMNTS Intelligence report “Credit Unions and Community Banks Gain Credit Card Issuing...
As the world of business payments continues to grow, so does the threat of fraud. While to the rest of the world, B2B payments represent commerce’s backbone — to a fraudster drawn to the large volumes of money exchanged between companies, they look like a...
A spate of recent enforcement decisions from the FDIC underscores risks that banks face — external as well as internal ones, where employees have allegedly leveraged vulnerabilities from the inside. The decisions, accessible here, construct a theme, as officers and workers, named in the actions...
Managing risk effectively is one of the best ways to unlock business growth. Risks range from financial and macro events to geopolitical and supply chain disruptions, and chief financial officers are tasked with stepping up to keep their organizations secure. Traditionally focused on financial risks,...
Fidelity Investments reportedly shut down an online check fraud scheme similar to one that recently struck J.P. Morgan Chase by tightening some restrictions on cash management accounts Sept. 11. The firm cut the amount certain customers can deposit into their cash management accounts from $100,000...
The co-founder of business automation startup Skael has been accused of illegally inflating its revenues. Baba Nadimpalli, who had also been the CEO of the defunct company, was indicted Tuesday (Sept. 24) by a federal grand jury in San Francisco on charges of securities and wire fraud....
The FBI is reportedly investigating a Silicon Valley venture capital group’s ties to China. Hone Capital launched with the help of a Chinese private equity group in 2015. Now, investigators are looking into whether the firm passed trade secrets to the Chinese government, the Financial...
