As digital scams continue to evolve, QR codes have emerged as a new gateway for cybercrime, often leading unsuspecting victims into dangerous traps. Known as “quishing,” these scams involve fraudsters tricking individuals into scanning fake QR codes, which then redirect them to fraudulent websites or...
Despite public concerns about the potential for cyberattacks powered by artificial intelligence (AI), criminals have been slow to fully embrace the technology, according to a new report from cybersecurity firm Trend Micro. Eight months after the company first reported on criminals using generative AI, an...
Visa has launched a generative artificial intelligence (AI) solution designed to help issuers combat enumeration attacks. The new VAAI Score tool is being added to the Visa Account Attack Intelligence (VAAI) offering, beginning with U.S. issuers, the company said in a Tuesday (May 7) press release emailed...
American consumers and business owners lost a record $12.5 billion last year to online scammers, marking a 22% spike in cybercrime over 2022, according to the FBI. Despite these losses, the FBI’s newly released annual internet crime report indicates Americans are growing more vigilant. The agency...
February 28, 2024
In the world of cybersecurity, there’s no prize for being fashionably late with updates. And in today’s evolving technology and authentication landscape, if organizations aren’t at the tip of the spear with their authentication protocols, they are likely on the receiving end of a fraud attack. “It’s not just about having a strong defense against […]
October 27, 2023
Paul Fabara, chief risk officer at Visa, told PYMNTS in a recent interview that the shift to online channels during the pandemic — and afterward — meant analog businesses became...
September 26, 2023
As attractive as innovative new technologies appear, it’s important to remember they are just tools. And any tool, when in the wrong hands, can also be used for the wrong...
August 30, 2023
In the fast-paced world of digital finance, security is a pressing concern. With a deep understanding of the risks at hand, organizations and individuals alike are demanding greater assurance that...
May 07, 2024
Visa has launched a generative artificial intelligence (AI) solution designed to help issuers combat enumeration attacks. The new VAAI Score tool is being added to the Visa Account Attack Intelligence (VAAI) offering, beginning with U.S. issuers, the company said in a Tuesday (May 7) press release emailed to PYMNTS. “With the VAAI Score, our clients now have […]
March 28, 2024
Coro has secured $100 million in Series D funding to grow its cybersecurity platform designed for small and medium-sized businesses (SMBs). The company will use the new funding to invest in...
June 29, 2023
Unit21 has raised $45 million in a Series C round to grow the Fintech Fraud DAO consortium. The funding is being used to support a collaborative approach to addressing fraud and money laundering,...
November 30, 2022
Twenty-one people have been charged with using cryptocurrency to launder money stolen through fraud schemes. The individuals were involved with transnational money laundering networks that helped foreign criminal gangs move...
