The European Council on Tuesday introduced a new sanctions framework to target Russian nationals and organizations engaged in malicious cyber activities such as election misinformation and disruptive cyberattacks. It seeks to address activities such as influence operations and hacking.
MoneyGram Payment Systems, a Dallas-based money transfer system, said hackers who hit its infrastructure last month stole customer data, including contact details, Social Security numbers and information pertaining to criminal fraud investigations.
DORA (Digital Operational Resilience Act) will require financial services entities and third-party information communication and technology (ICT) providers operating in the EU to comply with new technical requirements and rules, designed to help organisations withstand and recover from cyber events and technical...
As the threat and regulatory landscapes continue to evolve for financial services, addressing identity and third-party risks has become more critical than ever.
Download this e-book to learn more on:
How providing provisioning access manually wastes time;
How to reduce third-party risk and protect sensitive PII...
Research shows that financial institutions are struggling to manage and secure access to a growing number of identities, leading to breaches and compliance risk.
Some highlights from the infographic include:
Key findings and insight from the 2024 State of Identity Security in Financial Services Report;
Alarming...
Visa has signed a definitive agreement to acquire AI-driven fraud prevention leader Featurespace. This acquisition will reinforce Visa's fraud detection capabilities, integrating advanced machine learning technology to strengthen financial crime prevention and protect global transactions.
Fake paystub generators and unscrupulous businesses have made it easy for fraudsters to exploit outdated employment and income verification systems that account for $3.6 billion in losses for auto lenders alone, but AI-driven solutions are emerging as a game-changing defense.
Despite high-profile acquisitions in the space, pure-play threat intelligence firms still have a future in the marketplace, but they need to offer specialized intelligence capabilities that cyber defense teams can't find elsewhere, said Forrester analyst Brian Wrozek.
Mastercard's proposed purchase of Recorded Future for $2.65 billion will bring advanced threat intelligence into its payment systems. EVP Johan Gerber explains how this move improves fraud detection and prevention and strengthens Mastercard's cybersecurity in an evolving digital payments landscape.
In today’s digital era, businesses are redefining customer interactions, yet facing increased vulnerabilities to fraud. The rapid evolution of digital servicing has expanded the attack surface, compelling businesses to invest in robust fraud prevention and authentication tools. However, the challenge lies in...
The banking and financial services industry will see an increase in scams and frauds perpetrated through fake businesses, incentivizing bad actors to continue creating these fraudulent entities, said Mary Ann Miller, a fraud and cybercrime executive adviser with Prove.
“I don’t think they’re going to stop...
The U.K. Payment Systems Regulator wants to reduce the reimbursement cap on authorized push payment fraud to ease the burden on smaller banks. That's unacceptable and would undermine the financial system's integrity, said Jonathan Frost, board member at the Stop Scams Alliance.
Geopolitical tensions have heightened cross-border fraud, with criminals exploiting technological advances and regulatory gaps between countries. Shilpa Arora, head of anti-financial crime products at ACAMS, discusses ways banks can tackle cross-border fraud schemes.
In banking, digital transformation is a necessity. But how can banks innovate quickly while ensuring security and compliance?
Join us for a webinar where experts from AWS, Appian, and Xebia will explore how to accelerate your bank’s digital journey and smoothly navigate past any common challenge areas. This...
In the latest weekly update, ISMG editors discussed the implications of the recent arrest of Telegram's CEO in Paris for encrypted messaging services, the transformative impact of artificial intelligence in cybersecurity, and the latest regulations designed to curb fraud in electronic payments.
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