Fintech Finance

OCTOBER 24, 2024

Similarly, in March of 2023, Visa identified an emerging threat dubbed “digital pickpocketing,” where cybercriminals use a mobile point-of-sale device to tap against unsuspecting consumers’ wallets and initiate a payment, often in crowded areas. In the first three months of 2024, the average government impersonation scam victim in the U.S.

Scams

PYMNTS

JUNE 7, 2019

Visa, Western Union Team to Speed Global Payments. In a year that has been marked by mega mergers in the payments space (linking networks, technology and a continuum of products and services), several themes dominate: scale, digital, real-time and cross-border. The latest evidence of that comes from Mastercard.

FBI

PYMNTS

OCTOBER 10, 2018

“Wires are still a vital piece of the global payments puzzle,” he told PYMNTS. “Not every country has an ACH-compatible option, so wires as a payment method are still necessary for cross-border payments.” ” Some of the latest data from NACHA found use of wire payments has risen in the U.S.

Wire Transfer

PYMNTS

SEPTEMBER 20, 2019

Plot Thickens as FBI Probes Alleged MyPayrollHR Fraud. News came at the end of the week that the FBI and the New York State Department of Labor are investigating allegations that MyPayrollHR , which abruptly shut down earlier in the month, diverted millions of dollars into its coffers that should have gone to employees.

FBI

PYMNTS

JUNE 2, 2016

The letter, addressed to New York Fed President William Dudley, requests that “all documents and communications” related to the theft, oversight of global payment network SWIFT and the status of any of the Fed’s own reviews since the attack be turned over to the committee. On the U.S.

Federal Reserve

PYMNTS

NOVEMBER 13, 2020

billion to business email compromise (BEC) scams last year, for example, and global businesses losing approximately $26 billion between June 2016 and July 2019. Fraud scams targeting these wire transfers have long been an issue, with U.S. companies losing roughly $1.77

Cross-Border

PYMNTS

OCTOBER 27, 2017

This week saw warnings from both the Department of Homeland Security and the Federal Bureau of Investigation (FBI) that sophisticated hackers are targeting nuclear, energy, aviation, water and critical manufacturing industries, as well as government entities. The FBI declined to comment. Cyberattacks targeting U.S.

AI