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FinCEN Issues Warning About COVID-19 Vaccine Scams, Cyberattacks

PYMNTS

As the distribution of the COVID-19 vaccine continues to roll out to medical workers and high-risk populations, the Financial Crimes Enforcement Network (FinCEN) is asking financial institutions to be extra vigilant when it comes to cybersecurity. .

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What to do if your company suffers a data breach

VISTA InfoSec

Businesses with a dedicated cybersecurity team, who are likely to have identified the breach initially, should secure any systems, patch software, change access codes, and so on. The Federal Trade Commission (FTC) recommends that companies notify law enforcement as soon as possible by contacting local FBI or U.S.

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FTC To Return Close To $20 Million To Scam Victims

PYMNTS

monthly fee for credit monitoring the FTC said they never ordered. The FTC and the states of Illinois and Ohio said they secured the consumer redress as part of a settlement of charges against One Technologies in Jan. The FTC alleged that the defendants violated the FTC Act and the Restore Online Shoppers’ Confidence Act.

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Experts May Overestimate SMBs’ Understanding Of Cyber Threats

PYMNTS

Corporate cybersecurity is an ever-increasing focus of government entities, with the U.S. Federal Trade Commission (FTC) the latest to place emphasis on the importance of safeguarding data and systems. Like the FTC, QuickBridge emphasized the role of employee training in protecting against cyberattacks.

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FTC Sues Beam Financial For Failing To Deliver Mobile Banking Users’ Funds

PYMNTS

The Federal Trade Commission (FTC) has alleged that the mobile banking app Beam Financial has misled customers about quick transfers of funds, a press release says, with some customers receiving funds late or not at all. Some, the release says, never received their money at all. rate, while many users actually ended up with much lower 0.04

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Investec: What FIs Must Know About Open Banking And Gaining Consumer Trust

PYMNTS

The Federal Trade Commission (FTC) has reported 61,898 pandemic-related complaints since the outbreak began, totaling $45.1 Deep Dive: The Cybersecurity Threats Facing Open Banking. One popular target for cybercrime is debit and credit cards as the pandemic leaves customers uncertain about their financial futures.

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Corporate Fraud Reveals The Breadth Of Scammer Tactics

PYMNTS

The FTC complaint also accuses the companies of deceiving mall business customers about their merchant cash advance products. The year-over-year cybersecurity budget increase amounts to an average spend of $2,691 per employee.