Nearly 80 Million U.S. Consumers Lost Money To Scams In Last Five Years, With AI Key To Tackling Fraud And Financial Crime
- 1 year 9 months 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
- 1 year 9 months 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
- 1 year 9 months 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
- 1 year 9 months 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
- 1 year 10 months 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
- 1 year 10 months 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
- 1 year 10 months 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
- 1 year 10 months 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
- 1 year 10 months 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
- 1 year 10 months 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).
Cohesity Research Finds UK Organisations Risk Rise in Ransomware by Rewarding Criminal Gangs
- 1 year 10 months ago
- Cybersecurity
Cyber resilience research commissioned by Cohesity, a leader in AI-powered data security, reveals the true cost of ransomware to finances and business operations and why overconfidence may be the cause. The Cohesity Global Cyber Resilience Report 2024 surveyed over 3100 IT and Security decision-makers in eight countries on the impact of cybercrime and their abilities to withstand attack, showing an increase in th
Mastercard Invests in Continued Defense of Global Digital Economy with Acquisition of Recorded Future
- 1 year 10 months ago
- Cybersecurity
Mastercard today expanded its cybersecurity services with an agreement to acquire global threat intelligence company Recorded Future from Insight Partners for $2.65 billion. The acquisition bolsters the insights and intelligence used to secure today’s digital economy – in the payments ecosystem and beyond. Recorded Future is the world’s largest threat intelligence company, with more than 1,900 clients across 75 countries, including the... more
Binance Teams Up With Macau Judiciary Police to Launch Joint Anti-Scam Campaign
- 1 year 11 months ago
- Cybersecurity
Binance is committed to enhancing the security of the crypto ecosystem by working closely with law enforcement agencies worldwide to combat and deter financial crime. As part of this commitment, Binance has partnered with the Judiciary Police of Macau to launch a joint anti-scam campaign designed to increase user awareness of online fraud and reduce the risk of scams through tailored anti-fraud alerts integrated into its system. An Anti-Fraud... more
Coincover Launches Protected Co-Signing for Ultimate Transaction Protection
- 2 years 3 months ago
- Cybersecurity
Coincover, the blockchain protection company, today announces the launch of its Protected Co-Signing product to reduce the risk in digital asset transactions further.
