Equifax and Mastercard Join Forces to Combat Payment Fraud in Latin America
- 3 weeks 3 days ago
- Cybersecurity
Equifax® and Mastercard have joined forces to empower Latin American financial institutions, payment service providers, acquiring banks, and merchants to overcome payment fraud challenges without disruption to the customer experience.
Visa Blocks 410% More Suspected Fraud This Black Friday, as Fraudsters Target UK Shoppers
- 3 weeks 4 days ago
- Cybersecurity
Consumers have come out in force again this Black Friday, while fraudsters have continued to target bargain hunters. In the UK, Visa saw an 11% increase in transaction volumes on Black Friday 2024 compared to Black Friday 2023. This is also an increase of 16% compared to an average Friday. Across the whole Black Friday/Cyber Monday weekend, spend was up 12% compared to last year.
Each UK SMB Lost £11,000 to Online Fraud in 2024
- 3 weeks 5 days ago
- Cybersecurity
According to new research released today, on average, each of the 5.5 million SMBs in the UK lost almost £11,000 (£10,800) this year through fraud. With hackers, scammers, and unethical shoppers becoming increasingly sophisticated, smaller businesses are worryingly underprepared for attacks - with nine in ten senior c-suite execs concerned for their survival as a result.
Cohesity Saves Departmental Council of Haute-Garonne 15 Hours Per Working Week, Enhancing Cyber Resilience
- 1 month 5 days ago
- Cybersecurity
Cohesity, a leader in AI-powered data security, now supports the Haute-Garonne Departmental Council with Cohesity DataProtect. This allows the organisation to drastically reduce the time and resources needed to manage its backups, both on-premises and in the cloud and significantly accelerate the data recovery processes to enhance its cyber resilience.
Criminals Reverting To Old-School Tactics With New Twists, Visa’s State Of Scams Report Shows
- 2 months 1 week ago
- Cybersecurity
Ahead of Money20/20 US, Visa, a global leader in digital payments, today published the State of Scams: Fall 2024 Biannual Threats Report . The latest edition of the report brings to light several emerging threats and scams targeting banks and consumers, including a surprising resurgence of small-scale physical crime.
Nearly 80 Million U.S. Consumers Lost Money To Scams In Last Five Years, With AI Key To Tackling Fraud And Financial Crime
- 2 months 1 week ago
- Cybersecurity
Almost 80 million U.S. consumers have lost money to scams over the last five years, according to a new report commissioned by global fraud and financial crime prevention company, Featurespace and conducted by PYMNTS Intelligence on the state of financial crime and scams in the US.
Urgent Fraud Alert: New ‘Live Chat’ Scam to Gain Remote Access to Customers’ PCs and Banking Information
- 2 months 1 week ago
- Cybersecurity
Bank of Ireland is urging customers to be on their guard due to a new wave of fraud targeting banks in Europe, the UK, the US, Australia, and New Zealand which is now active in Ireland. The fraudsters are mainly targeting business banking customers at this time, duping them into allowing remote access to their computers and bank accounts. Reports of this type of scam to Bank of Ireland’s fraud line are increasing daily as the fraud gang target... more
Over £570 Million Stolen by Fraudsters in the First Half of 2024
- 2 months 2 weeks ago
- Cybersecurity
UK Finance today releases its Half Year Fraud report, detailing the amount its members reported as stolen through payment fraud and scams in the first half of 2024.
Mastercard and ASEAN Foundation Sign MoU to Launch Cyber Resilience Program to Bolster Cybersecurity Capacity Across the Region
- 2 months 2 weeks ago
- Cybersecurity
Mastercard today signed a Memorandum of Understanding (MoU) with the ASEAN Foundation, an intergovernmental organization within the Association of Southeast Asian Nations (ASEAN), to roll out a range of initiatives across the bloc’s member states to improve the cybersecurity capabilities of public sector entities and small and medium-sized enterprises (SMEs).
£6.8 Million Lost in the Last 12 Months as Romance Scams Surge Despite 65% of Brits Believing It Will Never Happen to Them
- 3 months 1 hour ago
- Cybersecurity
New data from Santander UK reveals a troubling rise in romance scams. Data from the bank shows more than £3.8 million was reported as stolen from customers in the last six months, an increase of 27% on the previous six-month period1, affecting customers aged from 18 to 93 years old.
A Quarter of Gen Z Have Experienced Identity Theft in the Last 6 Months
- 3 months 23 hours ago
- Cybersecurity
New data from digital transformation consultancy Daemon reveals that cyber security issues continue to plague Brits, particularly whilst shopping online.
Chubb's Digital Payments and Cyber Scams Survey Finds Growing Impact of Fraud on Consumers; Harms Trust in Payment Methods
- 3 months 2 days ago
- Cybersecurity
Chubb, a world leader in insurance, today released the results of its new global survey, "The Impact of Cyber Scams on Trust in Digital Payments," revealing the growing impact of cyber fraud on consumers, the misconceptions regarding cyber protection
MAS Establishes International Advisory Panel for Cyber and Technology Resilience
- 3 months 6 days ago
- Cybersecurity
The Monetary Authority of Singapore (MAS) announced today the establishment of a Cyber and Technology Resilience Experts (CTREX) Panel. The Panel replaces MAS’ Cyber Security Advisory Panel, with an expanded mandate to cover technology resilience which, together with cybersecurity, significantly underpins the operational resilience of the financial sector.
Aro Unveils Aro Precision to Redefine Lender Offerings with Advanced Fraud Prevention and Affordability Checks
- 3 months 1 week ago
- Cybersecurity
Aro, the UK’s go-to embedded finance partner for brands, has today unveiled Aro Precision – a new service designed to enhance lender capabilities with advanced fraud prevention, optimised affordability checks, and superior marketplace data.
Cybersecurity Is a Key Driver of FinTech Development in the World
- 3 months 2 weeks ago
- Cybersecurity
The study showed that fintech growth in Europe, America, and globally has the strongest correlation with the size of the cybersecurity market, with correlation coefficients of 0.8714, 0.9762, and 0.8607, respectively. In Asia, however, fintech growth was more closely tied to the size of the consumer electronics market (0.9403), while in Africa, it correlated with consumer spending volumes (0.7427).
