British banking giant HSBC wants the tech industry’s help with new fraud reimbursement rules. The bank said the regulations expected to go into effect next month will not prevent fraud, The Guardian reported Sunday (Sept. 22). David Callington, the head of fraud at HSBC UK,...
Banks and financial institutions (FIs) face challenges in balancing the convenience of digital banking with the need for robust security measures. Economic impacts from fraud have forced these institutions to shift resources away from innovation toward immediate threat mitigation, hindering progress in the sector. As...
Disney reportedly plans to stop using workplace collaboration platform Slack following a recent data breach. Chief financial officer Hugh Johnston announced the change this week, the Wall Street Journal (WSJ) reported Thursday (Sept. 19), citing an internal memo reviewed by the news outlet. That memo...
Data breaches are like opinions — these days, it seems like everyone has one. But that’s not great news for the business landscape, particularly as critical infrastructure providers are increasingly targeted by bad actors. And with the news Tuesday (Sept. 17) that the Federal Communications...
Businesses can’t grow without getting paid, and businesses won’t get paid without an invoice. But fraudsters have taken notice, capitalizing on the fact that the invoice, whether it’s digital or paper, represents one of a company’s most attractive attack surfaces. Against this backdrop, invoice fraud...
Oracle has launched a new service designed to help banks, FinTechs and other financial services companies identify potential financial crime and compliance issues and reduce compliance costs. The new Financial Crime and Compliance Management (FCCM) Monitor Cloud Service gives these organizations a holistic, centralized view...
The Federal Trade Commission (FTC) will begin sending refunded money via PayPal to consumers it said were harmed by online cash advance provider FloatMe. Consumers who are eligible for a payment will receive an email between now and Friday (Sept. 20), the FTC plans to...
Looking to expand security and threat intelligence beyond a completed transaction, Mastercard on Thursday (Sept. 12) announced it is acquiring Recorded Future for $2.7 billion. At a high level, Recorded Future analyzes a broad set of data sources to provide visibility into potential threats to...
Earlier this week, FinCEN reported that mail theft-related check fraud amounted to more than $688 million in a recent six-month period. The bulk of the reports were filed by banks, to the tune of 88% of all reports by filing. As to the costs of...
