PYMNTS

DECEMBER 19, 2019

And trust, as has been well-documented, is one of the hallmarks of consumers’ relationships with credit unions (CUs). Linked Analysis uses data points across the individual, card, device IP and departments within the institution to get a 360-degree view of whether a member is conducting legitimate business or has been compromised.

Credit Union 53

Credit Union Compromise Credential Bots 53

PYMNTS

MAY 2, 2016

The credit unions that were burned as a result of the data breach that hit America’s third-largest burger chain earlier this year are now suing the fast food eatery.

Data Breach 43

Data Breach Breach Legal Credit Union 43

PYMNTS

FEBRUARY 10, 2017

Krebs noted that the first mention of the breach came from a Credit Union Service Organization (CUSO) called PSCU , which sent out a non-public alert to the 800 credit union member banks it serves advising that it had received a list of compromised card numbers from Mastercard and Visa.

Credit Cards 47

Credit Cards Data Breach Credit Union Service Organization Credit Union 47

PYMNTS

OCTOBER 7, 2019

Separately, researchers at Agari are warning of Silent Starling, the newest cybercriminal ring using a Vendor Email Compromise (VEC) scam to steal company cash from supply chains. “VEC is the next evolution of business email compromise. . “VEC is the next evolution of business email compromise.

Scams 62

Scams Email Compromise B2B Business Email Compromise 62

PYMNTS

JANUARY 19, 2018

The early bird catches the worm — and credit unions (CUs) are no exception. Recently passed legislation and bills still in the works could rewrite major aspects of the credit union world, and CUs have now taken to Congress to ensure their voices are heard. Around the Credit Union Landscape. Nevada Sen.

Credit Union 40

Credit Union NCUA Data Breach Breach 40

PYMNTS

JULY 10, 2020

Customers cannot afford to let fraudsters compromise their bank accounts under any circumstances, but the current economic climate makes attacks all the more painful. Ryan Leblond , manager of fraud prevention and investigations at ESL Federal Credit Union , explained these key strategies in a recent PYMNTS interview.

Multifactor Authentication 53

Multifactor Authentication Authentication Credit Union Fraud Prevention 53

PYMNTS

SEPTEMBER 20, 2018

It enables banks and credit unions to better protect their retail and commercial customers’ digital transactions, which boosts trust and ultimately strengthens relationships.”

FFIEC 62

FFIEC Data Breach Credit Union Breach 62

PYMNTS

MARCH 29, 2019

Loyalty : Credit unions sizzle when it comes to loyalty, with 81 percent of consumers surveyed in the latest Credit Union Innovation Playbook saying they use CUs as their FI of choice because they trust those institutions. All of this comes amid the strongest quarter for stocks in general logged in a decade.

Credit Union 67

Credit Union Bitcoin Scams Data Breach 67

PYMNTS

APRIL 5, 2019

Stacy Arruda, a former special agent with the FBI and now executive director of the state of Florida ISAO on cybersecurity, said that part of the problem is that when it comes to protecting credit unions — and really any financial institution — danger lurks in what they don’t know. What to Do.

FBI 50

FBI Credit Union Credential Cybersecurity 50

PYMNTS

JUNE 21, 2019

Desjardins, the largest association of credit unions in North America, explained that the breach is the result of unauthorized and illegal use of the company’s data by an employee who has since been fired. Passwords, security questions, and PINs were not compromised. The leaked information includes 2.7

Data Breach 45

Data Breach Breach Identity Theft Law Enforcement 45

PYMNTS

SEPTEMBER 23, 2020

Financial crime is a pervasive threat to banks, credit unions, FinTechs and other financial institutions (FIs) the world over. The Financial Crimes Enforcement Network (FinCEN) recently issued a warning that malware, phishing schemes, extortion and business email compromise are in fact all on the rise.

Identity Theft 83

Identity Theft Financial Crimes Technology Crime 83

PYMNTS

JANUARY 21, 2021

The January Real-Time Payments Tracker® examines how fraudsters seek to compromise and abuse real-time payments systems and how advanced learning tools, robust data analysis and other strategies can help banks and businesses detect, deflect and defuse such attacks. Around The Real-Time Payments World.

Real Time Payments 92

Real Time Payments RTP P2P Faster Payments 92

PYMNTS

JANUARY 31, 2018

In all, $200 million was spent on reissuing cards by banks and credit unions for compromised cards and an estimated $57.3 million flowed directly into the pockets of the criminals who managed to pull off the heist.

Point-of-Sale (POS) 55

Point-of-Sale (POS) Payments Data Cybersecurity Breach 55

PYMNTS

JUNE 18, 2018

However, for banks and credit unions still trying to do more to meet the demands of customers in this digital world (and as those customers continue to become more demanding), service can never slip. Data collection is vital. So are mobile and fraud alerts. As Rosner told Webster, a “large number of U.S.

Credit Union 44

Credit Union Consumer Debit Card On-Demand 44

PYMNTS

NOVEMBER 22, 2017

According to American Banker , Cordray sent a letter to 29 chief executives at banks, credit unions and other financial companies, urging them to help consumers have more control over credit cards, debit cards and other payment methods.

Consumer 49

Consumer Debit Card Credit Cards Credit Union 49

PYMNTS

OCTOBER 23, 2017

The bitcoin exchange, Coin.mx , was linked to JPMorgan’s 2014 data breach , in which the account information of more than 83 million customers was compromised. operator Anthony Murgio take control of a credit union Gross ran from the church, reported Reuters. In turn, Gross helped Coin.mx In turn, Gross helped Coin.mx

Bitcoin 40

Bitcoin Credit Union Data Breach Breach 40

PYMNTS

FEBRUARY 13, 2017

Freedom Hosting II was considered to be the largest hosting provider for anonymous websites, and the posted databases included information such as private messages between users and code from servers used to operate compromised computer networks. Dan Berger, president and CEO of the National Association of Federal Credit Unions, told Krebs.

Automation 49

Automation Breach Credit Union Compromise 49

PYMNTS

JULY 21, 2020

Cybercrime is a constant concern for banks, credit unions and other financial institutions (FIs), with more than 25 percent of all malware attacks targeting the financial industry specifically.

Crime 66

Crime Financial Crimes FBI Cybersecurity 66

PYMNTS

MAY 13, 2016

It took longer than expected from a company in the business of delivering its product quickly, but Wendy’s has at last opened up about getting hit with a credit card breach. Rumors of a possible breach at a number of the fast food chain’s locations were first reported (by Krebs on Security) back in January.

Breach 43

Breach Third Party Vendors Law Enforcement Credit Union 43

PYMNTS

MAY 4, 2020

But, according to Wall Street Journal reports, the phrasing of the law as is excludes about 7 million of those borrowers because their loans are technically held by banks, credit unions or other private entities. trillion in all federal student debt.

Push-to-Card 56

Push-to-Card Compromise Laws Agreements 56

PYMNTS

APRIL 9, 2018

PSCU developed more of an Alexa sidekick than a skill with its assistant-within-an-assistant, CURTIS , the Credit Union Real Time Information Skill. CURTIS uses Alexa’s interface and voice to convey information and complete services between credit unions and their members.

Credit Union 56

Credit Union Micro-Entry Push-to-Card Accounts 56

PYMNTS

MAY 28, 2020

Diebold Nixdorf has seen efforts across banks — for the short term, at least — to reduce the number of customers inside the branch, in some cases appointing special hours for immune-compromised or otherwise vulnerable populations. Other banks that have not made these investments will be a bit more challenged.”.

Posting 69

Posting ATM Online and Mobile Banking Transactions 69

PYMNTS

JUNE 8, 2020

FIs may need to provide data to FinTech startups without dedicated cybersecurity teams, for example, which could then be more easily compromised by hackers who will steal sensitive bank customer data. percent “less likely to be compromised.”.

Authentication 60

Authentication MFA Phishing Scams 60

PYMNTS

MARCH 15, 2018

Mike Crapo, Idaho Republican and Senate Banking Committee chairman, sponsored the bill, which is seen as a compromise because it doesn’t roll back as much as Republicans and Wall Street banks originally wanted. With the bill, more than two dozen banks will be relieved of regulations that were placed on them under the Dodd-Frank Act.

Regulations 53

Regulations Rules Credit Union Origination 53

PYMNTS

MARCH 21, 2019

As researchers at Agari reported, business email compromise (BEC) attacks have been going mobile. As reported in Credit Union Times , the attacks are still done through email, but also look for mobile number details to “better coerce” intended victims to funnel funds to bad actors’ accounts.

Business Email Compromise 45

Business Email Compromise Scams Email Compromise Compromise 45

PYMNTS

JUNE 24, 2016

Rumors had been swirling as early as January that a swath of Wendy’s locations had been compromised by the program, but when the fast-food chain finally got around to officially recognizing the breach, the mission was straight damage control, complete with customer service hotlines and promises galore.

Compromise 40

Compromise Breach Credit Union Data Breach 40

PYMNTS

DECEMBER 21, 2016

s part to believe their systems had been compromised. But more remarkable than the fact that Yahoo actually managed to compromise the data of 21 percent of the planet is the fact that this information barely registered with the vast majority of people. This, we should note, was the second mega-hack Yahoo!

Breach 52

Breach EMV Compromise Push-to-Card 52

PYMNTS

FEBRUARY 18, 2020

Increasingly, fraudsters are striking at the very beginning of customers’ relationships with banks and credit unions (CUs), focusing their efforts on account takeovers and new account fraud.

Fraud Prevention 66

Fraud Prevention Account Takeovers Online and Mobile Banking P2P 66

PYMNTS

AUGUST 16, 2018

If not, that means the end point can be compromised,” Nolte said. That could present an advantage for financial institutions — after all, if a customer has been with a particular bank or credit union long-term, odds are that business has earned the trust of that consumer in ways that few retailers likely have. Mobile Innovation.

Mobile Payments 51

Mobile Payments Multifactor Authentication Authentication Payments 51

PYMNTS

MAY 6, 2020

Sharing information is critical for interconnected FIs because it allows them to access lists of data that may have been stolen or compromised, and they thus do not have to rely solely on their own anti-fraud measures to stop bad actors. Fraud losses often affect smaller banks or credit unions at harsher rates, too, costing them between 4.5

Fraud Prevention 72

Fraud Prevention Money Laundering AI Identity Theft 72

EBizCharge

AUGUST 28, 2024

Banks and credit unions use ABA numbers to ensure transactions reach the correct institution and account. The importance of ABA numbers Without a standardized system like ABA routing numbers, the efficiency and reliability of banking transactions can be significantly compromised.

Wire Transfer 52

Wire Transfer Direct Deposit Wires Wire 52

EBizCharge

AUGUST 28, 2024

Banks and credit unions use ABA numbers to ensure transactions reach the correct institution and account. The importance of ABA numbers Without a standardized system like ABA routing numbers, the efficiency and reliability of banking transactions can be significantly compromised.

Wire Transfer 52

Wire Transfer Direct Deposit Wires Wire 52

The Fintech Times

MARCH 26, 2024

We help financial institutions and fintechs of all sizes build a competitive edge in today’s fast-paced world— without compromising on quality or functionality. Ray Merceron, general manager of sales, LAC region at i2c i2c’s mission is to responsibly help our clients remove barriers to innovation.

Innovation 59

Innovation Alternative Payment Methods Payments SWIFT 59

Fintech Labs Insights

FEBRUARY 13, 2017

Rippleshot will use the additional capital to add technical talent, specifically developers and data scientists, and will leverage its relationship with CMFG to market its solutions to 9,000 of CMFG’s affiliated credit unions. Last fall, the company was recognized by H2 Ventures and KPMG as one of its “50 Emerging Stars.”

Compromise 17

Compromise Fraud Detection Card Issuer Issuers 17

PYMNTS

DECEMBER 11, 2017

The move comes just weeks after the revelation that ride-sharing service Uber hid a breach that compromised the data from 57 million of its customers, and that they paid hackers to destroy the stolen information. It also follows the news that credit monitoring firm Equifax hid a massive breach of consumer data for nearly 45 days.

Bitcoin 44

Bitcoin Breach Data Breach FDIC 44

Global Fintech & Digital Assets

OCTOBER 31, 2023

These restrictions do not apply to stablecoins that the DFPI has determined would not compromise the interests of California residents who may use such stablecoins as a payment for goods and services or as a store of value. [5] 6] 23 NYCRR Part 200.

Laws 52

Laws Stablecoins Issuers Legal 52

PYMNTS

APRIL 22, 2016

They are accused of using bribes to essentially take over a credit union in order to hide their illegal transactions from authorities. They then reportedly used a bitcoin exchange to cover up the violations that the compromised credit union was flying under the radar of from regulators.

Bitcoin 42

Bitcoin Credit Union Money Laundering Identity Theft 42