Maximizing customer engagement when fraud prevention is top of mind
With the number of data records breached in 2019 surpassing four billion, fraud prevention and regulatory compliance are, inevitably, top priorities for financial institutions …
Cryptocurrency crime losses more than double to $4.5 billion in 2019
Cryptocurrency users, exchanges and investors suffered $4.5 billion in crypto-related losses resulting from thefts, hacks, and fraud, a CipherTrace report reveals. …
More authentication and identity tech needed with fraud expected to increase
The proliferation of real-time payments platforms, including person-to-person (P2P) transfers and mobile payment platforms across Asia Pacific, has increased fraud losses for …
Key security priorities for financial services: Preventing fraud and data leaks
The banking and financial services sector is struggling with a skills shortage along with the sheer volume of threats and alerts as it continues its ongoing battle against …
Top compliance and risk management challenges for financial organizations
Notable regulatory compliance and risk challenges remain high in a number of key areas for U.S. banks and credit unions, according to the results of a Wolters Kluwer survey. …
CPoC: New data security standard for contactless payments
The PCI Security Standards Council (PCI SSC) published a new data security standard for solutions that enable merchants to accept contactless payments using a commercial …
How can financial institutions prevent shopping season fraud?
Black Friday and Cyber Monday are two of the years’ busiest shopping days. For consumers and retailers alike, it marks the beginning of the winter holiday shopping season, as …
UniCredit says personal data of 3 million customers was compromised
Italian global banking and financial services giant UniCredit has announced that its cybersecurity team has identified “a data incident” that resulted in the …
Only one quarter of retail banks have adopted an integrated approach to financial crime systems
Most banks plan to integrate their fraud and financial crime compliance systems and activities in response to new criminal threats and punishing fines, with the U.K. leading …
How fraud prevention tech can save banks €10M a year
A typical European bank, serving 10 million customers, could save up to €10 million annually and avoid growing fines by the regulator by implementing technology to improve the …
European Central Bank shuts down website following hack, data theft
The European Central Bank (ECB) confirmed on Thursday that its Banks’ Integrated Reporting Dictionary (BIRD) website has been compromised by attackers and taken down until the …
Digital bank Monzo urges customers to change PINs following security breach
Monzo, a UK-based mobile-only bank, has notified a subset of its users that their PINs have been inadvertently leaked into internal log files and were accessible to some of …
