Fintech Review

APRIL 11, 2025

But for now, navigating this patchwork of laws remains a core challenge for scaling fintech firms. As financial services shift online, platforms become targets for hackers, phishing attacks, and data breaches. The UK, Singapore, and the UAE have all implemented sandbox frameworks to support responsible experimentation.

FinTech 52

FinTech Online and Mobile Banking Payment APIs and Integration Cross-Border 52

The Payments Association

JULY 15, 2025

Chatbot-powered fraud accounted for 11% of responses, indicating concerns about AI-driven conversational tools being deployed to conduct more convincing phishing attempts and customer manipulation. This capability enables fraudsters to build detailed profiles for targeted attacks and sophisticated social engineering campaigns.

Financial Crimes 88

Financial Crimes Crime Fraud Prevention Deepfake 88

Neopay

JUNE 20, 2025

APP fraud happens when a victim is manipulated into authorising a payment to a fraudster, often through impersonation or phishing. The financial services sector, law enforcement, and other stakeholders must work more closely together, sharing data and intelligence in real time to combat fraud effectively. million with 186,000 cases.

Continuity 52

Continuity Security Fraud Prevention Law Enforcement 52

Finovate

MARCH 26, 2025

As an example, non-digitally native consumers may be more likely to fall victim to phishing attacks that they perceive to be payments from the federal government.

Fraud Prevention 83

Fraud Prevention Law Enforcement Verification Payments 83

VISTA InfoSec

JUNE 19, 2024

The DPH said the incident took place between February 19-20, 2024, was caused by a gang of cyber criminals who gained access to the log-in credentials of email accounts of 53 employees through a phishing email. It has also begun training all its employees in email security, especially inbound emails. 5 / 5 ( 1 vote )

Data Breach 264

Data Breach Breach Phishing Credential 264

VISTA InfoSec

FEBRUARY 25, 2024

You may face legal/regulatory penalties for violating disclosure laws. Accidental data leaks by insiders mishandling information also trigger breaches frequently. How Breaches Impact You Suffering a breach carries severe consequences beyond just data loss.

Data Breach 272

Data Breach Breach Multifactor Authentication Cybersecurity 272

PYMNTS

MAY 28, 2020

These threats reflect a resurgence in hacking and phishing attempts by cyber criminals as the commercial and government-backed attackers try to seize opportunities for scams amid the COVID-19 pandemic, Google wrote. Google said it provides the strongest protections available against phishing and account hijackings.

Phishing 70

Phishing Law Enforcement Scams Credential 70

VISTA InfoSec

MARCH 28, 2024

Hence, understanding GDPR compliance and other data protection laws is essential in keeping you abreast of regulatory trends. This training should cover topics such as recognizing phishing attempts, safe handling of data, and the proper use of security tools. Staying ahead of potential threats is key to keeping customer data safe.

Data Breach 278

Data Breach Regulatory Compliance Breach Encryption 278

PYMNTS

JUNE 1, 2020

Google issued a stark warning last week about the state of cybersecurity: Phishing attacks are on the rise and continue to take advantage of vulnerabilities resulting from the global pandemic. Among a lengthy list of attack methods, ransomware and third-party breaches remain common tactics against law firms, the report revealed.

Phishing 59

Phishing Continuity Data Breach Cybersecurity 59

PYMNTS

APRIL 24, 2020

The phishing expedition, as explained by AbnormalSecurity.com , requests the recipient’s signature for PPP documents. Anti-phishing company INKY said these schemes are among the most sophisticated-looking they’ve seen. The fraudsters’ mission is to lure recipients with financial relief options.

Phishing 63

Phishing Scams IRS Law Enforcement 63

PYMNTS

APRIL 12, 2020

Italian law enforcement officials said the country has seen a rise in this kind of activity. With governments imposing lockdowns to contain the virus, hackers have been known to pose as banks or other legitimate institutions to try to glean access to people’s private information to use for nefarious means, such as identity theft.

Data Breach 122

Data Breach Breach Identity Theft Law Enforcement 122

PYMNTS

JULY 27, 2020

Forty-seven percent of respondents said the reason they fell for a phishing scam was simply because they were distracted. Irish law enforcement reportedly arrested two men in connection to the case. Law enforcement officials said their investigation remains ongoing.

Law Enforcement 101

Law Enforcement Scams Phishing B2B 101

Fintech News

JUNE 6, 2024

Recent phishing and fraudulent cases involving multiple banks in Singapore have highlighted the severity of this issue and the urgent need for banks to enhance their security measures. DBS isn’t the only bank making news for phishing scams. US$129,841).

Scams 109

Scams Phishing Deepfake Verification 109

PYMNTS

JUNE 7, 2018

A phishing scam purporting to come from Apple is the most popular that we’ve seen,” Security Boulevard said. “It And not all criminal threats related to GDPR — or the PSD2 , another major European regulation for digital activity — will involve phishing attempts. All that back-and-forth results in all those notices. “A

Phishing 43

Phishing Scams Regulations Ransomware 43

Fi911

JULY 8, 2024

This type of fraud can take various forms, including identity theft, chargeback fraud, and phishing attacks. Account Takeover Fraud Account takeover fraud involves cybercriminals gaining unauthorized access to a victim’s online account, often through the use of stolen login credentials or phishing schemes.

Account Takeovers 105

Account Takeovers Fraud Detection Phishing Fraud Prevention 105

VISTA InfoSec

JUNE 21, 2023

Be sure to familiarize yourself with state laws, which your legal counsel will be able to help with. The Federal Trade Commission (FTC) recommends that companies notify law enforcement as soon as possible by contacting local FBI or U.S. Generally speaking, however, seeking advice and reporting incidents as soon as possible is best.

Data Breach 130

Data Breach Breach Law Enforcement Cybersecurity 130

PYMNTS

JANUARY 3, 2021

We also immediately reported this matter to federal law enforcement and are now in the process of notifying impacted customers.”. Customers whose call data has been compromised, even if their names haven't been obtained, are at heightened risk of attacks such as phishing by bad actors pretending to be mobile carriers.

Law Enforcement 85

Law Enforcement Compromise Data Breach Phishing 85

PYMNTS

MAY 4, 2020

Three common forms of fraud that can threaten credit unions (CUs) are check fraud, card fraud and automated clearing house (ACH) fraud, and fraudsters often deploy phishing emails to deceive and defraud customers. Rise in Phishing Attacks and Data Breaches. Phishing attacks can also target CU employees.

Phishing 56

Phishing Credit Union Breach Data Breach 56

PYMNTS

DECEMBER 22, 2016

Data security company Imperva, reports said, found that phishing attacks are more likely to be successful when a person opens an email at work (with 35 percent of phishing emails sent between 9 a.m. Further, IBM Security found that many of these targets never report the hack or details of the breach to law enforcement.

Cybersecurity 68

Cybersecurity Research Phishing Breach 68

PYMNTS

OCTOBER 12, 2020

"This approach is an important development in our efforts to stop the spread of malware, allowing us to take civil action to protect customers in the large number of countries around the world that have these laws in place," Burt wrote.

FS-ISAC 93

FS-ISAC Ransomware Phishing Legal 93

PYMNTS

DECEMBER 20, 2019

They engaged in a phishing scheme, sending emails to employees and agents of the companies, seeking outstanding bills and asking the companies to send money to accounts in Latvia and Cyprus that Rimasauskas operated, according to U.S. They said they had recovered their funds and were cooperating with law enforcement, Bloomberg reported.

Law Enforcement 53

Law Enforcement Phishing Wire Transfer Scams 53

PYMNTS

JUNE 20, 2018

This past week saw the Federal Trade Commission (FTC) announce a new law enforcement initiative that focuses on bad actors who seek to commit crimes against small businesses. There are just new ways to do them, it seems, and in the age of technology, the crackdowns on bad actors are going global.

Scams 45

Scams Phishing Federal Trade Commission Wire 45

PYMNTS

JULY 19, 2020

Javvad Malik , security awareness advocate at KnowBe4, said the attack highlights the need for “a layered defensive strategy, in particular against credential stuffing, exploitation of unpatched systems, and phishing emails which are the main source of ransomware,” teiss reported.

Ransomware 60

Ransomware Phishing Encryption Data Breach 60

PYMNTS

JUNE 8, 2020

The EU’s revised Payments Services Directive ( PSD2 ) requires FIs to securely offer up data about their customers to third parties, and Australia plans to enact similar laws this summer. Fighting Phishing. Educating account holders about threats can be especially effective in foiling phishing attacks, for example.

Authentication 60

Authentication MFA Phishing Scams 60

PYMNTS

MARCH 10, 2020

A recent study found 32 percent of security incidents in 2019 involved phishing and 29 percent involved stolen credentials, both of which would have been much more difficult had secure digital ID systems been in place. Businesses and organizations are already taking steps to close this security gap. But the U.S.

Contactless Payments 109

Contactless Payments Authentication Law Enforcement Cross-Border 109

Fintech News

FEBRUARY 10, 2025

In 2024, law enforcement traced a series of cryptocurrency transactions to local hawala networks, which facilitated money transfers between terrorist cells. A majority of these funds were stolen through private key compromises, phishing schemes, and decentralised finance (DeFi) exploits. billion globally.

Crime 93

Crime Ransomware Scams Phishing 93

Clearly Payments

MARCH 4, 2024

Operation Phish Phry (2009) Operation Phish Phry stands as a testament to the cunning and audacity of cyber criminals orchestrating large-scale payment processing fraud. Elevated awareness of phishing scams and cybersecurity threats. Heightened scrutiny of data protection measures in payment processing.

Phishing 59

Phishing Data Breach Law Enforcement Money Laundering 59

PYMNTS

APRIL 29, 2016

The annual study found that hackers are continuing to rely on attack methods such as phishing and ransomware , both of which enable them to capitalize on the element of human error. Roughly 30 percent of phishing messages were opened, which Verizon noted as an “alarming” number, marking a 23 percent increase compared to 2015.

Phishing 44

Phishing Data Breach Law Enforcement Ransomware 44

VISTA InfoSec

FEBRUARY 13, 2024

Organizations should thus design training programmes that cover a wide range of topics, from basic security hygiene practices like secure password creation and the identification of phishing emails to more advanced topics like data protection laws and the safe handling of customer information.

Cybersecurity 130

Cybersecurity Audit Best Practices Mitigation 130

PYMNTS

MARCH 23, 2020

“This is a moment that a lot of hackers across the world have been preparing for,” said Brian Finch, partner at Pillsbury law firm and co-leader of the company’s coronavirus response team, in are recent Compliance Week report. This is an opportunity to conduct pretty robust cyber-espionage, if not cyber-hostage taking.

Email Compromise 71

Email Compromise Payroll FBI Compromise 71

PYMNTS

OCTOBER 30, 2018

“But many times, it’s literally just the shame they would feel in reporting the attack to customers and law enforcement.” With malware often finding its way into an enterprise via phishing emails that fool employees, adequate worker education is paramount.

FTC 73

FTC Cybersecurity Small Business Federal Trade Commission 73

PYMNTS

MAY 16, 2019

According to a report in Reuters , the Eastern European GozNym network, whose leader resides in Tbilisi, Georgia, sent phishing emails to install malware on more than 41,000 computers. The victims included mom-and-pop businesses … law firms, international corporations … nonprofit organizations that worked with disabled children,” U.S.

Phishing 46

Phishing Account Takeovers Credential Encryption 46

PYMNTS

OCTOBER 7, 2020

The Financial Crimes Enforcement Network recently issued a warning that fraudsters are leveraging various illicit methods, including malware, phishing schemes, extortion and business email compromise (BEC) scams — all with a COVID-19 twist.

Bitcoin 93

Bitcoin Consumer Cryptocurrency Scams 93

PYMNTS

FEBRUARY 24, 2017

In this week’s Hacker Tracker , Simon Ragona III, director of data forensics at T&M Protection Resources , joined PYMNTS to discuss if tapping international law can actually help to keep cybercriminals at bay. Does IoT Security Need International Law? Businesses Paying Up.

Data Breach 68

Data Breach Breach Cybersecurity Laws 68

Fintech News

JUNE 30, 2024

These models are expected to take over narrow tasks across finance, healthcare and law. Finally, it highlights the rise of AI-powered cyberattacks, with deepfakes and email phishing attacks increasing substantially. trillion to US$4.4 trillion in annual value to the global economy.

AI 109

AI APACS Deepfake Economy 109

PYMNTS

JULY 1, 2019

Such details can also be acquired via phishing schemes. Gift cards rouse little suspicion from law enforcement and are easily converted into cash. CNP attacks can be countered via advanced security methods, such as biometric authentication or tokenization, but not every type of fraud revolves around hacking, phishing or data theft.

Account Takeovers 66

Account Takeovers Online and Mobile Banking Data Breach Credit Cards 66

FICO

MAY 27, 2021

This includes phishing of personal and account-level information as well as compromising the PAN / CVV for use in a fast-following fraud attack. These fraudulent services run as legitimate businesses until a customer reports the illegitimate service to law enforcement and industry groups. Fake webpage for Royal Mail.

Scams 98

Scams Law Enforcement Compromise Fraud Prevention 98