India is leading the digital payments revolution on the world stage with its widely accepted unified payments interface. N. Rajendran, the chief digital officer of the Multi Commodity Exchange of India, who has worked on UPI since its inception, discusses its successful implementation.
The U.S. Consumer Financial Protection Bureau is mulling over whether to reimburse consumers for online scams and fraud, but this regulatory change could lead to an increase in first-party fraud, cautioned Karen Boyer, senior vice president of financial crimes at M&T Bank.
Faster payment technology has been around for years, but fraud continues to dominate the conversation, says Reed Luhtanen of the U.S. Faster Payments Council. Luhtanen says all payment systems have a fraud problem, and firms will be able to curb faster payment fraud with more experience and data.
India and Singapore made it easier and cheaper for their citizens to send and receive money through the integration of UPI and PayNow, but could this move lead to a rise in cross-border online payment scams? Reports of UPI-related fraud surged in India in 2022.
An Android banking Trojan is targeting Brazilian adopters of an instant payment platform known as Pix, marking another foray by the South American country's criminal underground into digital larceny. Brazil has been a hotbed of Trojan activity perpetuated by domestic cybercriminals.
Forter bought a bot detection startup founded by a longtime Check Point Software leader to stop malicious actors from purchasing limited-edition items and collectables. The Immue purchase will prevent malicious bots from flooding e-commerce sites with thousands of transaction attempts per second.
Check fraud, first-party fraud and AI-related fraud will increase on a massive scale in 2023, thanks in large part to growing insider threats and the global economic slowdown. Frank McKenna, chief fraud strategist at Point Predictive, explains how banks can prepare to tackle these types of scams.
Authorized payment scams are on the rise, and banking regulators are putting pressure on financial institutions to do more to protect customers. The biggest challenge is that the customers are driving the process, says Bradley Haacke, vice president and financial crimes director at Fifth Third Bank.
Both internal and external fraud are expected to grow as economic conditions worsen. Fraud education expert Andi McNeal shares insights on what anti-fraud practitioners are expecting over the next year, the types of fraud to watch out for and how to mitigate fraud risks.
The transition to PCI DSS v4.0 is a major inflection point for the payments industry – not only does it restructure how risk is assessed, but it also provides a better foundation for meeting ongoing technical innovation. While organizations with mature programs may need comparatively little uplift, all organizations...
How are money launderers exploiting the various gaps in the telecom and banking industry? Hesham Sayed Shoeb, fraud supervisor with Saudi Telecom Co., shares his experience on fighting money launderers and how to improve systems and tools to catch more fraudulent transactions.
Software point of sale or SoftPOS is a groundbreaking technology that allows businesses to accept card payments directly on their devices without requiring any additional software. As this payment method gains widespread adoption, what does it mean for the security of our payments systems?
How has cybersecurity technology evolved, and are legal frameworks keeping pace with the evolution? Dr. Pavan Duggal, an advocate at the Supreme Court of India, shares his journey and talks about his passions.
Banking regulators are looking for ways to tackle authorized payment scams, such as spreading the risk to other banks. In a new report on how eight countries are handling this fraud, researcher Ken Palla advises banks to focus on reimbursing victims and preventing the theft.
Fintech company Block faces a putative class action demanding damages for customers affected by a 2021 data breach that affected 8.2 million individuals. The company, formerly known as Square and co-founded by former-Twitter CEO Jack Dorsey, disclosed the breach in April.
Our website uses cookies. Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing databreachtoday.asia, you agree to our use of cookies.