88 Results from 2021, /security
Greg Woolf CEO at Fiverity
By combining fraudulent theft with cyber tactics, Synthetic Identity Fraud (SIF) has emerged as the fastest-growing financial crime. How big is the problem? Based on insights from our Cyber Fraud Network, FiVerity estimates losses among U.S. banks grew to $20 billion last year. A key factor in SIF’s growth is its ability to evade traditional fraud...
03 November 2021 /security /crime Exposing Financial Crime
Retired Member
The ability to buy goods and pay the merchant back over time is literally ancient, perhaps 5000 years old, but it is only in the last few years that Buy Now, Pay Later (BNPL) apps have made deferring payments as easy as clicking a button. Spearheaded by the Swedish fintech company Klarna, BNPL is now a fixture of eCommerce and in-store checkouts,...
02 November 2021 /security /payments BNPL
Tristan Hinsley Cybersecurity Engineer at TDI Security - tdisecurity.com
With the rise of ransomware globally, every organization has been feeling the pressure; but fewer have felt the pain quite like financial institutions and financial service providers. With the emergence of ransomware-for-hire and the global proliferation of ransomware like LockBit 2.0, financial services need to be more alert than ever. According...
02 November 2021 /security /crime
COVID-19 has led to increased challenges with ensuring a consistent customer experience, but more than that it’s highlighted that new digital channels are making combatting ever changing “scams” harder to detect and manage. The rise in online scams that banks are grappling with is part of a much bigger challenge spanning risk, governance and compl...
29 October 2021 /security /crime Exposing Financial Crime
Reuven Aronashvili Founder and CEO at CYE
Just a few weeks before Halloween, Chicago-based candy-maker Ferrara, famous for Nerds, LaffyTaffy and other treats, experienced a ransomware attack that shut down several of its facilities, making it unable to fill orders during one of its busiest times of the year. This should serve as a warning sign for all retailers as we head into the holiday...
27 October 2021 /security /payments Information Security
Pavlo Farb Security Engineer at Cossack Labs
In fintech, user’s data protection is among the top priorities requested by regulations, but surprisingly they are mapped onto real-world risks. As a data security engineer, I can say that while it might look like much work to comply with GDPR, CCPA, PCI DSS, FFIEC, etc., these regulations exist not to add problems but to prevent them and protect ...
18 October 2021 /security /regulation Fintech
Richard Warren Partner at FirstPartner
Contactless payments have become a major success for the payments industry. Over the last couple of years contactless has been almost universally welcomed and embraced by UK consumers, and (perhaps more grudgingly in some cases) by merchants. Even the “strictly cash only” market stall where I buy my weekly fruit and veg got a SumUp contactless rea...
15 October 2021 /security /payments
Matt Sanders Director of Security at LogRhythm
Banks and other businesses in the financial services industry are prime targets for cyberattacks with the plethora of sensitive information contained in customers’ files, especially as more of the world transitioned to online banking and alternative/contactless forms of payment during the pandemic. Now, a new wave of embedded finance, Banking as a...
14 October 2021 /security /regulation Information Security
Jussi Karjalainen CEO at Valtatech
As Australia continues to slip in and out of lockdowns business continuity continues to be tested. While business leaders battle to try and not just survive the pandemic, but thrive, groups of highly sophisticated scammers are seeking to exploit the pandemic and scam businesses out of their hard earned and much needed cash. According to the ACCC’s...
05 October 2021 /security /crime Electronic invoicing
Karen Hsu CMO at Appdome
Thanks in large part to the global pandemic, consumers are increasingly turning to mobile apps to manage their finances, payments and transactions. In fact, 58% of mobile consumers report using and downloading more mobile apps and buying more products and services on them since the COVID-19 pandemic started, according to the Appdome 2021 Global M...
30 September 2021 /security /regulation Financial Services Regulation
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