Cyber Monday is the ultimate digital shopping event. But this year, the stakes are higher than ever — and it is all due to artificial intelligence (AI). While 2024’s online holiday sales have already surged north of $10 billion, there’s a different, more nefarious surge...
With financial institutions (FIs) fortifying their defenses and evolving their strategies against digital payment fraud, criminals are turning to a new weak spot: the customers themselves. Gone are the days of clunky phishing emails riddled with typos. Today’s fraudsters are using advanced social engineering scams...
Cybersecurity researchers have uncovered a sophisticated malware campaign using fake AI video generation software to steal sensitive data from Windows and Mac users, highlighting new risks as businesses rush to adopt artificial intelligence tools. Security experts warn that the campaign, first reported by Bleepingcomputer, employs...
For firms in security-critical areas like financial services and payments, it’s time to pay attention to cybersecurity. A data breach in these industries doesn’t just mean a lost paycheck; it could trigger a financial disaster on a global, digitally interconnected scale. And with the news...
September 10, 2024
As Ben Franklin once said, nothing in life is certain except for death and taxes. And add to that a new pressing issue for businesses: the increasing prevalence of tax scams, particularly those involving fraudulent claims for tax credits. As a recent alert issued by the U.S. Internal Revenue Service (IRS) highlights, these scams have […]
August 15, 2017
Hold the phone. Hold on. Recognize that phone number? It’s yours. But it’s not you. And someone’s using that number to do some bad stuff. Welcome to the world of...
August 03, 2017
Fraudsters are good at what they do. Payments got faster, but so did criminals. Banks built more defenses, and bad guys jumped over them with glee. But Uri Rivner, BioCatch...
December 18, 2024
Fraud prevention/compliance platform Bureau has raised $30 million in a Series B round. The new funding round, which included participation by PayPal Ventures, will help Bureau use artificial intelligence (AI) to help businesses combat increasingly sophisticated forms of fraud, the company said in a Wednesday (Dec. 18) news release. “For founder and CEO Ranjan Reddy, the mission is personal,” the release […]
October 10, 2024
The FTC is refunding $449,000 to victims of a telemarketing scam involving extended automobile warranties. According to a Thursday (Oct. 10) news release from the Federal Trade Commission (FTC), the scam was carried out...
October 09, 2024
With another major hurricane on the way, three federal agencies are warning companies not to take advantage of these natural disasters and cautioning consumers to watch out for the scams...
October 07, 2024
Scammers based in Southeast Asia took in up to $37 billion in 2023. These groups are still ramping up their efforts in spite of increased law enforcement activity, Bloomberg News reported...
