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PSR to cut APP reimbursement limit to £85,000

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PSR to cut APP reimbursement limit to £85,000

In the face of growing government and industry pressure, the UK's Payment Systems Regulator is set to bow to demands to reduce the reimbursement limit offered by banks to victims of authorised push payment fraud from £415,000 to just £85,000.

“Saving patient zero”: Blackwired's new approach to cybersecurity

/security

“Saving patient zero”: Blackwired's new approach to cybersecurity

Cyber risk has advanced to be the number one risk to the global economy.

Fraudsters plead guilty to operating OTP scam site

/security

Fraudsters plead guilty to operating OTP scam site

Three men have pleaded guilty to operating a subscription-based Web service in the UK that enabled criminals to circumvent One-Time-Passcode (OTP) anti-fraud checks.

Singapore to empower police to stop voluntary bank transfers to scammers

/security

Singapore to empower police to stop voluntary bank transfers to scammers

Singapore's Ministry of Home Affairs is opening consultations on new rules that would empower the police to order banks to restrict the banking transactions of people who refuse to believe that they are being scammed.

Banks and technology firms unite to test corporate digital IDs

/security

Banks and technology firms unite to test corporate digital IDs

The UK Government-backed Centre for Finance, Innovation and Technology (CFIT) has teamed up with leading banks and technology firms to test digital verification as a means to combat spiralling levels of economic crime.

Mastercard debuts Payment Passkeys in India

/security

Mastercard debuts Payment Passkeys in India

Mastercard is to debut its Payment Passkey service in India, bringing biometric authentication to online shopping.

Visa in talks over £700m Featurespace acquisition - Sky News

/security

Visa in talks over £700m Featurespace acquisition - Sky News

Visa is in talks with Featurespace about a £700 million acquisition of the British financial fraud fighting outfit, according to Sky News.

Crooks use progressive web apps for new phishing scam

/security

Crooks use progressive web apps for new phishing scam

Security researchers have identified a new phishing technique using progressive web applications (PWAs) to target customers of banks in Eastern Europe.

Bank of Ireland warns of worrying surge in investment scams

/security

Bank of Ireland warns of worrying surge in investment scams

Bank of Ireland is warning of a surge in investment fraud, describing it as the most concerning trend in evolving scam tactics.

Keir Starmer and Prince William used in deepfake crypto scam

/security

Keir Starmer and Prince William used in deepfake crypto scam

Crooks are circulating AI-generated deepfake videos of Prince William and UK prime minister Keir Starmer on Facebook and Instagram to dupe viewers into scam cryptocurrency investments.

MAS collaborates with banks and tech firms on quantum security

/security

MAS collaborates with banks and tech firms on quantum security

The Monetary Authority of Singapore has gathered a consortium of banks and technology partners to study the application of Quantum Key Distribution (QKD) as a defensive mechanisim against the threat posed by super-fast computing power.

Cybercriminal J.P.Morgan brought to justice

/security

Cybercriminal J.P.Morgan brought to justice

A prolific cybercriminal operating under the online monicker J.P.Morgan has been arrested following a co-ordinated international police investigation.

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