It’s been a bad month for Evolve Bank & Trust, and it’s only getting worse. Following a “cease and desist” order issued to the bank on June 14, the Arkansas-based lender on Wednesday (June 26) publicly confirmed the news that a ransomware gang had hacked...
Fraud targeting older Americans’ money or cryptocurrency increased by double-digit percentages in 2023. The number of complaints of elder fraud increased by 14% during the year, while the associated losses rose by 11%, the FBI’s Internet Crime Complaint Center (IC3) said in a Tuesday (April 30) press release. Individuals...
Several federal agencies are working with AT&T to identify the cause of a widespread service outage that struck the company’s mobile network Thursday (Feb. 22). An undetermined number of AT&T customers in the United States were unable to use their mobile phones for a time Thursday as...
The Chinese government’s attempts to virtually attack U.S. infrastructure have reportedly reached new levels. That’s according to FBI Director Christopher Wray, who said Sunday (Feb. 18) that such efforts were happening on “a scale greater than we’d seen before,” calling them a defining threat to...
September 21, 2023
Where new technology and new payment preferences arise, the hackers and scammers are sure to follow. Where technology helps connect consumers to apps and payment schemes, new attack vectors arise. QR codes have been around for roughly 30 years, and are enjoying a tailwind at present. And the bad actors have taken notice. To that […]
July 06, 2021
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...
July 21, 2020
Cybercrime is a constant concern for banks, credit unions and other financial institutions (FIs), with more than 25 percent of all malware attacks targeting the financial industry specifically. Compromised credit...
September 16, 2019
Perhaps everyone’s worst nightmare came true for 250,000 employees of 4,000-5,000 small businesses over Labor Day weekend: Payday came, and paychecks didn’t. In fact, it was much worse. In some cases,...
July 16, 2024
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 16). In addition, OFAC said Tuesday that it sanctioned three […]
May 01, 2024
Fraud targeting older Americans’ money or cryptocurrency increased by double-digit percentages in 2023. The number of complaints of elder fraud increased by 14% during the year, while the associated losses...
February 22, 2024
Several federal agencies are working with AT&T to identify the cause of a widespread service outage that struck the company’s mobile network Thursday (Feb. 22). An undetermined number of AT&T customers in...
February 18, 2024
The Chinese government’s attempts to virtually attack U.S. infrastructure have reportedly reached new levels. That’s according to FBI Director Christopher Wray, who said Sunday (Feb. 18) that such efforts were...
