Revolut has reportedly denied thousands of British customers reimbursement requests after they were defrauded. This has led many of these consumers to seek help from the U.K.’s Financial Ombudsman Service (FOS), Bloomberg News reported Saturday (July 20). The report cited data from the FOS showing...
The right customer data, in the right hands, can have a transformative impact on businesses. But in the wrong hands, the same sensitive information can be leveraged by bad actors and cybercriminals with catastrophic and increasingly costly outcomes. “If you think about what bad guys...
The Federal Trade Commission (FTC) has reached settlements with three defendants, banning them from sweepstakes and prize promotions. These settlements resolve a complaint the FTC filed against Matthew Pisoni, Marcus Pradel and John Leon in 2015, alleging that they operated a sweepstakes scam that took...
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...
February 13, 2024
In this era of connectivity, where virtual encounters often precede physical ones, online relationships have become a breeding ground for exploitation, with fraudsters capitalizing on the vulnerabilities of hopeful hearts for financial gain. This darker side of romance manifests in the rising tide of online romance scams, also known as confidence scams. In these schemes, […]
January 24, 2024
No matter the attack vector, bad actors have a singular strategy in place when it comes to eCommerce fraud, Jason Paguandas, VP and GM, Merchant Security and Fraud, Carat from...
January 12, 2024
As instant payments become more widely used in the United States, the financial services ecosystem must gird for ever-more-brazen attacks from fraudsters. Nick Fleetwood, head of data services at Form3, said...
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...
July 23, 2024
Visa’s investments in artificial intelligence (AI) and other technology reportedly enabled the payments processor to block 80 million fraudulent transactions worth $40 billion in 2023. Charles Lobo, regional risk officer for Visa in Central and Eastern Europe, Middle East and Africa, shared these figures with Reuters, according to a report posted Tuesday (July 23). “Now […]
July 21, 2024
Revolut has reportedly denied thousands of British customers reimbursement requests after they were defrauded. This has led many of these consumers to seek help from the U.K.’s Financial Ombudsman Service...
June 24, 2024
The Federal Trade Commission (FTC) has reached settlements with three defendants, banning them from sweepstakes and prize promotions. These settlements resolve a complaint the FTC filed against Matthew Pisoni, Marcus...
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...
