Payments News
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Risk & Fraud

Hackers Swipe More Than $40 Million of Bitcoin From Cryptocurrency Exchange

“Binance, one of the world’s largest cryptocurrency exchanges, said hackers stole more than $40 million worth of bitcoin from its platform in what it called a “large scale security breach.” The theft offers another example of the vulnerability facing cryptocurrencies and the venues where investors trade them. Yet the price of bitcoin and other digital […]

On The Web

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Companies

Amazon Hit by Extensive Fraud With Hackers Siphoning Merchant Funds

“Amazon.com Inc. said it was hit by an “extensive” fraud, revealing that unidentified hackers were able to siphon funds from merchant accounts over six months last year.    Amazon believes it was the victim of a “serious” online attack by hackers who broke into about 100 seller accounts and funneled cash from loans or sales […]
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Risk & Fraud

A Surprising Jump in ACH Fraud

“Which payment method holds the dubious distinction of racking up the fastest growth in fraud last year? According to the latest annual fraud report from the Association for Financial Professionals, it’s debits and credits on the automated clearing house network. In fact, the ACH was the only payment method examined in the report that registered […]
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Risk & Fraud

What You Need to Know If You E-transfer Money | CBC News

“A system to transfer money online — used over a million times a day in Canada — is not as safe as it advertises, says a Royal Bank customer who had $1,734 stolen during an e-transfer. The theft occurred after Anne Hoover of Peterborough, Ont., e-transferred money from her RBC account to her friend Fran Fearnley, only to have a fraudster intercept […]
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Risk & Fraud

Updates to the Visa Chargeback and Fraud Monitoring Programs

“Since restructuring in 2016, Visa’s chargeback and fraud programs have undergone some changes, and we recently learned that further changes will become effective October 1, 2019. Our goals here are to outline these new changes and to provide a singular resource for all your Visa program-related needs. Please bear in mind that Visa’s chargeback and […]
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