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Risk

Central Bankers’ New Cybersecurity Challenge

September 9 2022

“In the typically cautious world of central banking, the idea of a central bank digital currency (CBDC) is moving at lightning speed. Atlantic Council GeoEconomics Center research shows that 105 countries and currency unions are currently exploring the possibility of launching a CBDC, either retail—issued to the general public—or wholesale, used primarily for interbank transactions. That’s up […]
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Risk

Decentralized ID Offers a Human Approach to Identity in Cyberspace

June 3 2022

“The nature of the digital world is that organizations, people, software, and devices are connected. This is what enables digital experiences, from business analytics to gaming and shopping.    But with millions of digital interactions happening every second, we’ve reached a scale that is difficult to comprehend, with almost limitless interdependencies. This creates an ever-expanding […]
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Risk

Four Ways Merchants Can Protect Against Account Takeover

May 2 2022

“Account takeover (ATO) is the process by which criminals use a variety of methods, including purchasing stolen information from the dark web, social engineering, phishing, password cracking or credential stuffing to take ownership of online accounts that do not belong to them for a variety of nefarious purposes.  Unfortunately, this attack method has seen an […]
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Global

Euro Notches Biggest Drop as Global Payment Currency Since 2011

April 21 2022

“The euro is being used less often as a global payment currency, posting its biggest percentage-point drop in more than a decade in March, as inflation and the war in Ukraine weigh on its appeal for transactions.  Meanwhile, the U.S. dollar remained in the top spot for a 10th consecutive month, and has dominated global […]
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Risk

TSB warns impersonation fraud has surged by 300% – signs to look out for

April 20 2022

“Impersonation fraud is an attack in which a criminal impersonates a company, business, organisation or individual as a key component, and reported cases have soared by 300% since 2019. Retail banking company, TSB , has warned people to be on the alert for scammers as cases of impersonation fraud soar. TSB said the average victim […]
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Risk

How Walmart Thwarted $4 Million in Elder Gift Card Scams

April 5 2022

“Technology developed by Walmart helped the retail giant identify and freeze nearly $4 million in gift cards that had been bought by thousands of primarily elderly victims at the direction of con artists who duped them, according to court records and the company. The U.S. Department of Justice, after being notified by Walmart, recently seized […]
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Companies

Block Says Ex-Worker Downloaded Cash App Customer Data – Law360

April 5 2022

“Financial technology giant Block Inc. disclosed in a securities filing Monday that a former employee downloaded brokerage account information from its subsidiary Cash App without permission, saying it had notified 8.2 million customers about the security incident. Block said the information included names, brokerage account numbers — which are associated with a user’s stock activity […]

On The Wires

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