In 2015, Ubiquiti Networks, a wireless network hardware manufacturer, wired $46.7 million to fake vendor accounts worldwide. The method used by the criminals was deceptively simple: a technique called “CEO fraud” or “business email compromise.”

PCI Pal®, the global SaaS provider of secure payment solutions for business communications, has announced the launch of its Pay By Bank open banking solution for contact centres. It is the first in a series of new agent-assisted, digital payment products that enable merchants to minimise the cost of transactions, and provide instant refunds – all while reducing fraud risk and chargeback costs.

FV Bank, the U.S. licensed global digital bank that offers a vertically-integrated suite of traditional and digital asset banking and custody services to fintech and blockchain firms, has today announced the launch of a new service for FV Bank account holders: the ability to instantly and automatically convert Circle’s USD Coin (USDC) into USD at the moment of deposit. 

Today Refinitiv commences publication of forward-looking term rate versions of its ARRC recommended fallback rates - USD IBOR Cash Fallbacks.

Outseer, the global leader in payments authentication and monitoring solutions, has published its latest 1H 2022 Outseer™ Fraud & Payments Report,
showing the alarming power of social engineering and Authorized Push Payment (APP) fraud, with 75% of fraudulent online banking payments activity (based on $ value) originating from trusted accounts on trusted devices. This suggests that consumers are unwittingly parting ways with their money, having been duped by fraudsters’ scams.
 

TS Imagine, a global leader in trading, portfolio, and risk management solutions for capital markets, today announced three executive leadership hires to support the firm’s rapid growth.

Only half of UK consumers currently feel that they have sufficient access to credit, according to figures revealed in TransUnion’s latest Consumer Pulse study.
 
Despite the majority of consumers (71%) acknowledging the importance of credit in helping them achieve their financial goals, just 49% say that they have sufficient access. In fact, almost a fifth (18%) state they don’t have enough access to the finance they need.i
 

Reach Commercial Finance has secured three different funding solutions worth £4.8 million for Tuber Group to help accelerate business growth, the latest of which is support for the acquisition of fresh produce business - MyFresh.

Moneybox, the app-based digital wealth manager, has appointed Smith Forte as its Chief Product Officer.