Android malware uses NFC to steal money at ATMs
ESET researchers uncovered NGate malware, which can relay data from victims’ payment cards via a malicious app installed on their Android devices to the attacker’s rooted …
Stolen, locked payment cards can be used with digital wallet apps
Fraudsters can add stolen payment cards to digital wallet apps and continue making online purchases even after victims report the card stolen and the bank replaces it, …
Chinese multinational bank hit by ransomware
The state-owned Industrial and Commercial Bank of China (ICBC), which is one of the largest banks in the world, has been hit by a ransomware attack that led to disrupted …
AI is transforming financial crime compliance
While 86% of compliance, operations, risk and IT professionals at banks and non-banking financial institutions (NBFIs) surveyed said they would increase spending on AI and ML …
Strong compliance management is crucial for fintech-bank partnerships
72% of banks and credit unions are prioritizing compliance when evaluating fintechs, citing it as their top criteria in the due diligence process, according to Ncontracts. As …
The staggering cost of identity fraud for financial services
The impact of identity fraud varies for organizations in the financial services industry, based on whether they belong to the banking or FinTech sector, according to Regula. …
Threats targeting fintech companies are on the rise
In Q1 of 2022, fintech companies experienced 2.5 times more attacks than in the two previous years. The growing rate of cybercrime has added to the market unrest and …
Contactless is reigning: Consumers can’t even remember their PIN
Marqeta has released its 2022 State of Consumer Money Movement report looking at consumer payment, banking and shopping preferences, showing digital adoption is on the rise. …
Modern bank heists: How can they be thwarted?
In this video for Help Net Security, Tom Kellermann, Head of Cybersecurity Strategy at VMware, talks about threats against financial institutions and the findings of the …
Keep your digital banking safe: Tips for consumers and banks
In this interview for Help Net Security, Reza Zaheri, CSO at Quantum Metric, talks about digital banking security and what can banks, as well as consumers, do to protect their …
Top threats for the financial sector
The potential financial, operational, and reputational impact of ransomware makes it the top threat facing financial services organizations, according to a report from …
Consumers demand a digital banking experience with security at its foundation
The global transformation of banking and payments has only accelerated over the past few years, and between web trends and a global pandemic, the industry has seen disruption …