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cryptocurrency
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. …

identity
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 …

lock
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 …

compliance
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. …

contactless payment
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 …

online shopping
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
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 …

online shopping
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 …

money
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
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 …

leak
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 …

criminal
Five examples of user-centered bank fraud

In today’s digital-first world, banks and financial service companies need to allow their customers to easily manage money online in order to compete. Unfortunately, most …

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