PYMNTS

OCTOBER 14, 2016

Another day, another cyberthreat on SWIFT. In this week’s Hacker Tracker , we explore why hackers continue to have their eyes fixed on SWIFT and what other organizations are also working to fight off their malicious advances. Hong Kong, Australia, the U.K. and Ukraine.

SWIFT 75

SWIFT Compromise Cybersecurity Data Breach 75

Payments Source

DECEMBER 12, 2016

The payments messaging network Swift has told its client banks that the threat of cyberattacks "is very persistent, adaptive and sophisticated — and it is here to stay.".

SWIFT 60

SWIFT Payment Message Payments Data Security 60

Payments Source

DECEMBER 19, 2016

Facing security challenges at its member banks and competition from other tech providers, the Society for Worldwide Interbank Financial Telecommunication [Swift] plans to put its best foot forward in 2017.

SWIFT 60

SWIFT Addressing Security Cross-Border Payments 60

Payments Source

DECEMBER 15, 2016

In response to a series of cyber bank thefts, Swift has developed new guidance. It's a necessary first step, though banks for now are still left to fend for themselves.

SWIFT 60

SWIFT Posting Data Security Cybersecurity 60

Payments Source

APRIL 17, 2017

Leaked documents appear to show NSA analysts were able to hack into Middle Eastern banks’ servers through the Swift service bureau EastNets. The same tools could conceivably be used by cybercriminals and nation-states with more sinister motives.

SWIFT 60

SWIFT Cross-Border Payments Cross-Border Data Security 60

PYMNTS

SEPTEMBER 26, 2016

Earlier this year, cybercriminals stole $81 million from the Bangladeshi central bank, and they also stole the trust that the SWIFT global payments network had built with its 11,000 users. Authentication methods for payments networks, such as SWIFT, or P2P money transfer apps are still not completely secure.

Online and Mobile Banking 78

Online and Mobile Banking SWIFT Credential Central Bank 78

PYMNTS

OCTOBER 23, 2018

According to Gullers, treasurers typically access that data via the SWIFT network. Since then, experts have warned that cyberattackers are using SWIFT to commit other financial crimes, too. “On On the SWIFT side, treasurers have definitely learned a lesson,” Gullers said. “On They realize SWIFT is not foolproof.”.

SWIFT 71

SWIFT Risk Treasury Use Case 71

VISTA InfoSec

OCTOBER 11, 2023

The Payment Card Industry Data Security Standard ( PCI DSS ) aims to prevent financial fraud by securing payment card data. Any company that handles this data must implement security measures to ward off unauthorized access.

PCI DSS 130

PCI DSS Audit Compliance Assessments 130

PYMNTS

OCTOBER 19, 2020

A recent survey found that one-third of businesses were worried about cross-border payments fraud, while 26 percent expressed data security concerns. How Cloud Systems Accelerate And Secure Cross-border Payments. Studies have found that cloud networks experience 60 percent fewer security incidents than traditional data centers.

Cross-Border Payments 77

Cross-Border Payments Cross-Border Correspondent Bank Technology 77

Fi911

JANUARY 31, 2024

Industry commitment to data security and privacy must be unwavering, as mishandling customer data can result in severe legal consequences and erode customer trust. They can leverage AI algorithms to analyze individual financial histories, spending patterns, and future goals.

AI 105

AI MFA Regulatory Compliance Best Practices 105

Clearly Payments

JANUARY 12, 2024

Implementing robust security measures is another essential step. Merchants should invest in secure payment processing systems, utilize encryption technologies, and comply with Payment Card Industry Data Security Standard (PCI DSS) requirements.

Credit Cards 105

Credit Cards Law Enforcement Card Issuer PCI DSS 105

Clearly Payments

DECEMBER 18, 2023

AI’s real-time fraud detection capabilities, as evidenced by an 80% reduction in fraudulent attempts according to Juniper Research, will fortify financial security by swiftly identifying and preventing unauthorized transactions. Regulatory implementation is gradual, allowing for adjustments but hindering rapid development.

Payments Trends 102

Payments Trends Online and Mobile Banking Payment APIs and Integration Contactless Payments 102

PYMNTS

SEPTEMBER 23, 2020

He explained that the cloud can help FIs swiftly respond to compliance and security challenges during the pandemic. With regulations governing open banking, [like] PSD2, and storage of data, [like] GDPR, we now have an even stronger case to securely open our systems to external partners,” Schmidt said.

Compliance 90

Compliance Law Enforcement Regulations Rules 90

VISTA InfoSec

JUNE 3, 2024

Compliance with Other Standards and Regulations While GDPR sets a high bar for data protection, organizations must also consider compliance with other relevant standards and regulations. These may include: SOC1/SOC2: Service organization control reports that assess controls related to financial reporting and data security.

MFA 130

MFA Credential PCI DSS Compliance 130

Fi911

FEBRUARY 29, 2024

Customer Satisfaction: Banks that efficiently manage VAR Sheets contribute to a better end-user experience by ensuring that transactions are processed securely and swiftly, thereby enhancing the reputation of both the bank and its merchant clients.

VARS 96

VARS Payment APIs and Integration Regulatory Compliance Gateways 96

PYMNTS

SEPTEMBER 22, 2020

Consumers pivoting to online banking are also more concerned over the privacy and security of their data, especially as fraud volumes creep up —and financial regulators are taking notice. Some expressed hesitancy surrounding sharing their U.S.

Compliance 76

Compliance Online and Mobile Banking Privacy SWIFT 76

Clearly Payments

JANUARY 8, 2024

A crucial aspect of risk management involves adhering to the Payment Card Industry Data Security Standard (PCI DSS) , which sets stringent guidelines for securing payment transactions and protecting cardholder information.

Risk Management 97

Risk Management Risk PCI DSS Process 97

PYMNTS

AUGUST 27, 2019

Among the most important benefits for firms that adopt ePayables, said Gilman, are increased safety and security. That sentiment is borne from the fact that a significant number, 43 percent, said ePayables improve data security.

Visa 65

Visa Compromise SWIFT Checks 65

M2P Fintech

JANUARY 3, 2024

Regulatory Compliance To stay compliant, banks need to adhere to central bank regulations on transaction security, data security, and privacy, among others. Core banking systems must have integrated compliance features that can adapt to evolving standards and regulations for robust security and fraud detection.

Payment APIs and Integration 59

Payment APIs and Integration CRM Online and Mobile Banking Regulatory Compliance 59

PYMNTS

DECEMBER 29, 2016

InterContinental Hotels Group (IHG), parent company to more than 5,000 global hotel locations including Holiday Inn, is investigating a possible data security breach in some U.S. We immediately launched an investigation, which includes retaining a leading computer security firm to provide us with additional support.

Breach 54

Breach Card Network Rules Best Practices Fraud Prevention 54

PYMNTS

JANUARY 2, 2019

In a statement to the paper, an Equifax spokeswoman said the company has undertaken a “host” of security, operational and technological improvements since the breach that exposed the personal data of 147.9 million people. It’s important to point out good things have happened since the Equifax crisis.”.

Data Breach 60

Data Breach Breach SWIFT Cybersecurity 60

Fintech Finance

DECEMBER 9, 2024

AGENDA HIGHLIGHTS: The Next Generation of Payments Enhancing Convenient and Secure Access to Financial Services The Next Digital Revolution Global Mobile Wallets and Super-apps Blockchain and Cryptocurrency Adoption Cross-Border Payment Innovations The Future of Financial Crime Levels of Connection – 2.0

Office of the Comptroller of the Currency 95

Office of the Comptroller of the Currency Financial Crimes BSA Cross-Border Payments 95

Finovate

FEBRUARY 8, 2024

Payments, identities, and data security company Entrust confirmed that it has entered “exclusive discussions” to acquire identity verification technology company Onfido. Trusted payments, identities, and data security company Entrust may be on the verge of acquiring identity verification (IDV) technology company Onfido.

Acquirers 52

Acquirers Verification Deepfake AI 52

EBizCharge

AUGUST 28, 2024

It’s important to note that additional codes, such as the Society for Worldwide Interbank Telecommunication (SWIFT), may be required for international wire transfers instead of just the routing number. How do routing numbers differ between SWIFT and IBAN methods? SWIFT codes and IBANS are essential for international payments.

Wire Transfer 52

Wire Transfer Direct Deposit Wire Wires 52

The Fintech Times

APRIL 22, 2024

Nuke From Orbit outlines the industry’s responsibility to offer smartphone users the highest level of protection by leveraging technology for instant data security in cases of device compromise. Our research suggests that currently, they are not doing enough.

Identity Theft 59

Identity Theft Consumer Online and Mobile Banking Monetary Loss 59

PYMNTS

JULY 18, 2019

Among the most important benefits for firms that adopt ePayables, said Gilman, are increased safety and security. That sentiment is borne from the fact that a significant number, 43 percent, said ePayables improve data security.

Visa 46

Visa Compromise SWIFT Checks 46

The Fintech Times

SEPTEMBER 13, 2024

” Data security platforms Iwona Rajca , solution engineer EMEA at Protegrity “Regtech offers the opportunity to lower cost and risk at the same time by outsourcing to specialists and benefiting from best-in-class compliance,” explains Iwona Rajca , solution engineer EMEA at data protection firm Protegrity.

Compliance 72

Compliance FinTech Reconciliation Audit 72

PYMNTS

MARCH 27, 2019

FIs had to decide which APIs would be most useful to meet customer and third-party provider (TPP) needs, including friction-free access to customer data, while ensuring that no risk to that data security was introduced in the process. Meanwhile, slow and inconvenient payment processes are a headache for both buyers and sellers.

API 49

API B2B Near Real-Time Adjustments 49

PYMNTS

JUNE 12, 2017

From data being stolen to new products for securing the digital arena and Germany’s Angela Merkel calling for digital security regulation, there’s a lot going on that opens up the floor to true digital security and whether or not it’s ever possible.

Crime 44

Crime Security SWIFT Regulations 44

Clearly Payments

MARCH 22, 2024

Consumers, increasingly tech-savvy and seeking convenience, have readily embraced the swift and seamless nature of mobile payments over traditional methods. Regulatory compliance is another critical aspect of ensuring security and trust in mobile payments. This shift is demonstrated by the estimate that 51% of U.S.

Contactless Payments 105

Contactless Payments Online and Mobile Banking Mobile Payments Payments 105

PYMNTS

NOVEMBER 1, 2018

SWIFT , amid a continuing spate of headlines, said it had introduced Payments Controls , which is billed as an intelligent in-network solution to combat fraud, and is tied to the global payments innovation (gpi).

Real Time Payments 57

Real Time Payments Faster Payments eWallet Payments 57

The Fintech Times

AUGUST 2, 2024

In the last year, it has launched Confirmation of Payee (CoP) to verify account users, and achieved the globally recognised ISO27001 data security standard, the highest standard for information security. This response highlights that it is very possible for firms to swiftly implement changes to enhance protections for customers.

Scams 64

Scams Romance Scams CRM Monetary Loss 64

PYMNTS

SEPTEMBER 23, 2019

Empowerment Through Data. Open banking is incentivizing banks to open up data in ways to promote product innovation and industry competition, but financial institutions stand to gain significantly from leveraging the data they hold.

B2B 49

B2B ISO 20022 Payment APIs and Integration ISOs 49

PYMNTS

FEBRUARY 6, 2020

Treasurers want in-the-moment data because it allows them to best understand their companies’ cash positions. BNP Paribas provides this transparency with an API that connects with global messaging firm SWIFT’s SWIFT gpi , which offers end-to-end transaction tracking for payers.

Faster Payments 64

Faster Payments API Payment APIs and Integration B2B 64

Nanonets

NOVEMBER 14, 2023

In this article, we will look at various aspects of automated document capture and its role in transforming organizational data dynamics.   Ensures swift and accurate retrieval of relevant data. Benefits: Enhances data security, customizable plans starting at $2.50    What is Document Capture?

Automation 52

Automation Facilitators Audit Legal 52

EBizCharge

MAY 24, 2024

This seamless integration provides swift and straightforward transactions to enhance customer satisfaction and loyalty. Get Pricing In addition to working with secure embedded payment solutions, it’s vital for businesses to implement their own set of security measures and protocols.

Embedded Payments 52

Embedded Payments Process PCI DSS Payments 52

EBizCharge

JULY 3, 2024

Third-party billing services can optimize this through meticulous invoicing and swift collection practices, resulting in more predictable revenue streams and improved financial forecasting. Safety Concerns over data security and the safety of sensitive financial information are paramount.

Regulatory Compliance 52

Regulatory Compliance Due Diligence Process Breach 52