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Latest Results from /security

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SCA has led to fall in online card fraud - Barclaycard

200 days on from the mandatory introduction of Strong Customer Authentication (SCA) in the UK, 73% of retailers have seen online payment fraud decline, according to data from Barclaycard Payments.

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Banks prepare for cyber-battle to promote cybersecurity awareness

To mark cybersecurity awareness month in the US, this October financial institutions are planning a series of tournaments and events to raise awareness around cyber security issues.

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APP fraud victims to get mandatory reimbursement rights under new PSR rules

Victim of authorised push payment fraud will soon be entitled to full reimbursement under new proposals drawn up the Payment Systems Regulator.

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Banque de France tests 'post quantum' security tech

The Banque de France has been experimenting with "post-quantum" security technologies as it bids to prepare for a world where quantum computing leaves current IT systems vulnerable to hacks.

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Deutsche Bank to assign risk value to merchant transactions in fight against fraud

Deutsche Bank is using artificial intelligence technology from Visa subsidiary Cybersource to give merchant customers a fraud risk score for individual transactions.

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Sardine raises $51.5m for fintech fraud platform

Sardine, a behaviour-based fraud and compliance platform for fintechs developed by Coinbase, Revolut and PayPal veterans, has raised $51.5 million in a Series B funding round led by Andreessen Horowitz's growth fund.

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Morgan Stanley hit with $35m penalty for device disposal failings

Morgan Stanley Smith Barney (MSSB) has been slapped with a $35 million penalty for failing to protect the personal identifying information (PII) of about 15 million customers.

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Revolut breach exposes data of over 50,000 customers

Revolut has suffered a data breach that exposed personal details of about 50,000 customers worldwide.

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UK finance suffers surge in DDoS attacks

The UK financial sector was subject to a surge in distributed denial of service (DDoS) attacks in the first half of 2022 after Russian forces invaded Ukraine.

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BofA granted hundreds of patents

Bank of America scored a record 341 US patents in the first half of 2022, a 50% year-on-year increase, with information security and AI seeing the most action.

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SteelEye raises $21m Series B

In what has been dubbed the largest RegTech raise by a European firm in 2022, SteelEye has raised $21 million in a Series B round led by Ten Coves Capital.

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Starling responds to UK Govt's report on suspected BBLS fraud

UK Government has confirmed that of the £47 billion provided in loans through the Bounce Back Loan (BBL) scheme, £1.1 billion of these loans are suspected to be fraudulent.