Post Tagged with: "fraud"

‘Tis the Season To Be Merry — and Wary of Cyberattackers

‘Tis the Season To Be Merry — and Wary of Cyberattackers

by November 25, 2016 at 4:59 pm 0 comments

Happy Black Friday! ‘Tis the season to be wary, tra-la-la-la-la-la-la-la. “It’s a wonderful season for hackers,” says Alex Vaystikh, CTO at SecBI, an Israel-based cybersecurity firm which raised $5 million this fall to expand its footprint in the U.S. and Europe. Every year the cybersecurity challenge grows more complex asRead More

Skry, Terbium Labs Team Up to Fight Blockchain Fraud

Skry, Terbium Labs Team Up to Fight Blockchain Fraud

by October 13, 2016 at 11:07 am 0 comments

As we know, two of the most prized traits of blockchain technology, specifically when one is talking about the bitcoin blockchain, are its anonymity and its immutability. Unfortunately, those traits also lead to a fair amount of fraud; which is why Terbium Labs, a “dark web intelligence provider,” has teamedRead More

Card Use Reaches New Heights, and So Does Fraud

Card Use Reaches New Heights, and So Does Fraud

by September 27, 2016 at 11:07 am 0 comments

Consumer card transactions will overtake cash transactions for the first time in 2016, according to global research firm Euromonitor International. Cash is expensive to manage and is extensively used in the underworld. “A less-cash society would be a fairer and safer place,” Kenneth Rogoff, a professor of economics at Harvard, wroteRead More

Fighting Fraud with… Fake Fraud?

Fighting Fraud with… Fake Fraud?

by April 20, 2016 at 10:32 am 1 comment

The most vulnerable point in a bank’s network today might just be Bill over in marketing — or any employee. Humans are by nature vulnerable to social engineering and may discuss where they work on social media — LinkedIn is a treasure trove for would-be bank hackers. A common attack against aRead More

Security Trumps Convenience for Online Shoppers, Study Finds

Security Trumps Convenience for Online Shoppers, Study Finds

by April 7, 2016 at 12:16 pm 0 comments

Online retailers prize a smooth checkout and one-click checkouts, but it turns out customers care more about security than convenience when shopping online. (We’ll leave aside Domino’s Pizza’s “zero-click ordering for now.) Nearly half of e-commerce consumers — 48% — want more assurance that their transactions are secure, while only 20%Read More

Who Wrote That Report for Bank Regulators? Maybe a Robot

Who Wrote That Report for Bank Regulators? Maybe a Robot

by November 24, 2015 at 9:52 am 0 comments

Robots — or more precisely, software that takes data and turns it into natural language — may be producing the next report a bank regulator reads. That’s if Narrative Science‘s latest offering takes hold. The Chicago-based software firm launched a solution for AML (anti-money laundering) processes on Nov. 10 that is currently inRead More

Typosquatting Emails Target Bank Employees

Typosquatting Emails Target Bank Employees

by June 25, 2015 at 11:50 am 0 comments

Hold on, don’t open that email. Hackers have known for years that bank employees are the best way to gain access to bank’s system. All a bad guy has to do is send an inviting email and trick the employee into opening it. A nefarious new approach has come to theRead More

Brett King today espousing the virtues of next-generation artificial intelligence.

With More AI Comes Refinement, Not Revolution, in Banking

by June 17, 2015 at 11:59 am 1 comment

This has nagged me for some time: if it is so easy to build a financial model today, why am I not inundated with model-driven financial services? No company is offering me a “smart” payment card that automatically switches between debit and credit depending on money costs. No company is offeringRead More

Square's new card reader

Chip & Sig is Unsafe. Chip & Location Isn’t.

by June 12, 2015 at 11:37 am 0 comments

The EMV train is rolling around the bend — is anyone ready? EMV cards — the initialism stands for Europay MasterCard Visa — are more commonly known as chip cards, or smart cards. They are dipped rather than swiped, employ single-use codes to make transactions safer, and take much longer to process withRead More

20% of Banks’ IT Spending is ‘Valueless’

20% of Banks’ IT Spending is ‘Valueless’

by June 11, 2015 at 11:37 am 3 comments

The stakes have never been higher for technology in banking. What banks want to deliver, and what customers apparently demand, will likely require heavy tech investments from most banks. And yet it goes without saying that money thrown at IT is not always well spent. Bob Dvorak, CEO of KillerIT,Read More