FraudRSS

Overcoming board-level cybersecurity obstacles in the financial services industry

Dottie Schindlinger, Diligent

Today’s financial services institutions are challenged to keep pace with changing and covert cybersecurity threats. Since financial institutions are among some of the most appealing targets for hackers, it is critical for these organisations to remain extra vigilant about securing confidential information.

Wells Fargo fake bank account scam gets bigger

Under pressure

The scandal of employees at Wells Fargo creating 2.1 million fake bank accounts and credit card numbers to boost sales figures has just got bigger. After an expanded third-party review of retail banking accounts dating back to the beginning of 2009, Wells Fargo reveals that the number is in fact 3.5 million accounts. As reported […]

How the new EU payments regulation will help prevent fraud

PSD2

Scott McInnes, partner at international law firm Bird & Bird, discusses how the Second Payments Services Directive (PSD2) will affect companies and what requirements industry players need to know.

Fraud prevention firm Emailage raises $10m funding

Emailage 1

Fraud prevention and identity verification firm Emailage has raised $10 million in new funding. The round was led by Anthos Capital, and featured the participation of Mucker Capital, Radian Capital, Tallwave Capital, and Wipro Ventures, reports Finovate (Banking Technology‘s sister company). “This investment will allow us to continue our rapid growth, enhance our leadership position […]

Lloyds Bank target of Trickbot banking trojan

Cyber crime

Trickbot is back, new and improved, and is targeting customers of Lloyds Bank in the UK in a new phishing campaign, according to cybersecurity specialist Cyren.

BioCatch partners with LexisNexis to leverage data and analytics for better risk management

BioCatch and LexisNexis team up

Behavioural authentication and threat detection company BioCatch teamed up with risk management company LexisNexis Risk Solutions in an effort to reduce losses caused by fraud.

Failed bank in Uganda spent millions of dollars on non-existing tech

Crane Bank

Crane Bank, a failed bank in Uganda, spent millions of dollars on IT services and software that was never supplied, according to a report by PricewaterhouseCoopers (PwC) into the bank’s mismanagement.

UK Government has another run up at encryption

uk flag

UK Home Secretary Amber Rudd has taken another dim-witted swipe at end-to-end encryption claiming that terrorists are the only ones who care about it, reports Telecoms.com (Banking Technology‘s sister publication). It’s the latest chapter in one of the most short-sighted and ill-informed books available today, as Rudd has continued her moronic quest to make the […]

Hello Soda’s new platform has a pop at dark web fraud

hello soda 1

Big data and text analytics firm Hello Soda has launched Fraud Web, a new software solution built to combat identity fraud committed through the untraceable internet. The company says Fraud Web identifies the risk of consumer data being available for sale on the dark web and issues high, medium and low risk alerts so that […]

Blockchain and Bitcoin round-up: 1 August 2017

Blockchain

The world of blockchain and Bitcoin rumbles on with patents, platforms and positives. Our latest round-up features Bank of America, Blackmoon Financial Group, and research from Cognizant. Bank of America (BofA) has filed three new patents using blockchain. On the US Patent & Trademark Office’s website it now reveals the details. Some of the patents […]

@banking
techno