Fintech News

JANUARY 17, 2024

What’s even more alarming is the stark increase in this fraud rate, which surged by 24 percent from 2022 to 2023. Meanwhile, in a separate incident in Singapore, the cybersecurity landscape saw a significant surge in phishing attempts targeting local entities in 2022.

Deepfake

Fintech Finance

OCTOBER 24, 2024

Additionally, between 2022 and 2023, there was 90% increase in losses from cash payments due to government impersonation scams 1. Recently, Visa has noted a marked delay in when cybercriminals choose to cashout compromised accounts, hoping to evade detection after initial provisioning fraud.

Scams

Fintech News

MARCH 25, 2024

That’s 10 more malware families than in 2022 during which the study identified 19 banking malware families targeting 1,400 mobile apps. It typically operates by infecting a user’s device through various means, such as phishing emails, fake apps, or compromised websites.

Mobile Banking

Stax

MARCH 4, 2024

of the global population using this method of payment in 2022. Identifying and Mitigating Payment Security Threats Phishing scams, social engineering, bot attacks—these are just a few of the most pressing cybersecurity threats that can be so devastating they have real-time effects. billion digital wallet users, or 42.6%

PCI DSS

The Fintech Times

JUNE 20, 2024

No bank is immune to this threat, with ransomware attacks on financial services increasing from 55 per cent in 2022 to 64 per cent in 2023. Threats can also easily come from the inside as employees or contractors with access to sensitive information may intentionally or unintentionally compromise security.

Risk

PYMNTS

MARCH 6, 2020

A 2018 survey found that 50 percent of IT professionals labeled security among the most-pressing issues affecting their API strategies, and API-related services are expected to become those hackers most frequently attack by 2022. . Weaknesses in the technology’s handling have already resulted in major abuses, too.

API

EBizCharge

OCTOBER 25, 2023

An incident is only considered a data breach if the confidentiality of data is compromised. Phishing attacks trick individuals into disclosing their login credentials or other sensitive information through deceptive emails or websites. Thankfully, employee training and education can prevent most phishing attempts.

Data Breach

Seon

JUNE 21, 2023

trillion in 2022, and Juniper predicts that their worth will increase by 280% by 2027 – meaning the market could have a value of $9.1 If one of these accounts gets hacked, it can lead to more accounts being compromised, particularly if your security settings are low and you aren’t using a variety of username/password combinations.

Credit Cards

Center for Payments

NOVEMBER 21, 2023

Over 800,000 reports were received by the FBI’s Internet Crime Complaint Center (IC3) in 2022, representing $10.2 The FBI warns consumers to be on the lookout for fake websites, counterfeit products, and phishing emails that appear to be coming from trusted retailers that consumers normally engage with. billion reported in 2021.

Holiday Scams

Nanonets

MAY 31, 2023

Seon reports that 22% of adults in the US were victims of this type of fraud in 2022, with average losses of around $12,000 per case. Phishing Attacks: Fraudsters send deceptive emails or messages, often mimicking reputable organizations, to trick employees or customers into revealing their payment details. billion in 2022 alone.

Fraud Detection

CB Insights

JULY 23, 2020

However, as an unprecedented portion of the workforce has been relegated to working from home, IT teams have faced new challenges, from less than optimal at-home network security to more targeted business email compromise schemes. Global cybersecurity spending is forecasted to reach $134B by 2022.

Posting

Fintech News

MARCH 1, 2025

Ronin Network (US$625 Million, 2022) Hackers breached the Ronin Network, stealing around $625 million worth of Ether and USDC. Binance BNB Bridge (US$569 Million, 2022) Hackers exploited a vulnerability in a cross-chain bridge, generating and withdrawing an additional 2 million Binance Coins (BNB).

Security

The Fintech Times

DECEMBER 22, 2024

They would pose as legitimate organisations to manipulate banking customers into handing over money and banking details, with fraud attacks being committed between August 2022 and March 2024. During this time, they stole a total sum of 223,183.53. Orjih was identified as being an accomplice through messages with Oxford-Faparusi.

Smishing

The Fintech Times

JANUARY 13, 2025

was lost, this was still significantly less than the figures seen in 2021 and 2022. It revealed that phishing had the biggest imprint on the web3 landscape and it wasn’t even close. Nonetheless, three phishing attacks across the year each saw over $100,000 lost. While $2,339,075,289.45

Phishing