Latest Security News: Finextra Research

Experian rolls out 'Mule Score' to help banks identify suspicious accounts

Experian is rolling out a new service designed to help banks and building societies identify and close ‘money mule’ accounts which are used to house fraudulently-obtained funds.

12 June 2023

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PSR lays out new ground rules for APP fraud

Both sending and receiving banks running transactions over the UK's Faster Payments scheme will be expected to split the cost of reimbursements in the case of authorised push payment fraud, under new rules devised by the Payment Systems Regulator.

07 June 2023

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Multiple firms impacted by zero-day vulnerability in MOVEit file transfer system

Payroll services provider Zellis is the latest firm to have been targeted by the MOVEit cyber breach, confirming that personal data from eight client firms has been stolen.

06 June 2023

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Spain's Globalcaja hit by ransomware attack

Spanish banking group Globalcaja has confirmed that it has been hit by a ransomware attack carried out by the Play gang.

06 June 2023

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Central banks successfully test 'quantum resistant' communications channel

A secure communication channel designed to protect financial data against future threats from quantum computers has been successfully established by the BIS Innovation Hub Eurosystem Centre, in concert with Banque de France and Deutsche Bundesbank.

05 June 2023

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CFPB warns consumers about non-insured payments apps

The Consumer Financial Protection Bureau (CFPB) has warned users of non-bank payment apps that their accounts are not protected by federal deposit insurance coverage.

02 June 2023

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NatWest compiles Celebrity Scam Super League table

Dragons Den star Peter Jones and national treasure Sir David Attenborough top the list of NatWest celebrity scam ads used by fraudsters to steal millions of pounds in cash from gullible consumers.

01 June 2023

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HSBC partners Quantinuum for quantum computing research

HSBC is working with tech firm Quantinuum on a series of exploratory projects looking at the use of quantum computing in banking.

01 June 2023

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BIS explores use of data, tech and collaboration to combat money laundering

Using payments data, privacy-enhancing technologies, AI and enhanced cooperation for a behavioural-based analysis approach to detecting money laundering networks is more effective than the current rules-based approach, concludes new research from the BIS Innovation Hub.

31 May 2023

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Two-thirds of all online shopping scams now start on Facebook and Instagram

Purchase scams starting on Facebook and Instagram are expected to cost UK consumers more than £27m this year alone, according to an analysis by Lloyds Banking Group.

31 May 2023

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Dark web study reveals Brits are Europe's biggest card fraud victims

Research into a dark web database of six million global card details showed only America and India had more payment data stolen than the UK.

25 May 2023

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Banks, telcos and Big Tech combine to spy on scammers

A coalition of banks, Big Tech firms, and telecomm's groups have banded together to interact with known scammers and gather intelligence in a bid to quell a growing fraud epidemic.

24 May 2023

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