Payments News

On The Web

nbsp;

Risk

Venmo Gets More Private—but It’s Still Not Fully Safe

“Venmo, the popular mobile payment service, has redesigned its app. That’s normally news you could safely ignore, but this announcement is worth a closer look. In addition to making some navigational tweaks and adding new purchase protections, the PayPal-owned platform is finally shutting down its global social feed, where the app published transactions from people […]
nbsp;

Risk

$10 Million Rewards Bolster White House Anti-ransomware Bid

“The State Department will offer rewards up to $10 million for information leading to the identification of anyone engaged in foreign state-sanctioned malicious cyber activity, including ransomware attacks , against critical U.S. infrastructure. A task force set up by the White House will coordinate efforts to stem the ransomware scourge. The Biden administration is also […]
nbsp;

Risk

Return Scams Jump As Fraudsters Exploit E-commerce Boom

“Retailers say they are seeing a sharp increase in a type of return fraud in which consumers claim they never received their online orders even though they did. The practice, known as “item not received” fraud, took off during the pandemic, when warehouses were backed up and carriers were overwhelmed by a surge in e-commerce […]
nbsp;

Risk

This Crowdsourced Payments Tracker Wants to Solve the Ransomware Visibility Problem

“Jack Cable, a security architect at Krebs Stamos Group who previously worked for the U.S. Cybersecurity and Infrastructure Agency (CISA), is looking to solve that problem with the launch of a crowdsourced ransom payments tracking website, Ransomwhere …The website keeps a running tally of ransoms paid out to cybercriminals in bitcoin, made possible thanks to […]
nbsp;

Risk

Kaseya Ransomware Attack: 1,500 Companies Affected, Company Confirms | ZDNet

“Enterprise tech firm Kaseya has confirmed that around than 1,500 businesses were impacted as a result of an attack on its remote device management software, which was used to spread ransomware.  It appears that the attackers carried out a supply chain ransomware attack by leveraging a vulnerability in Kaseya’s VSA software against multiple managed service […]
nbsp;

Risk

Ransomware Gangs Get Paid Off As Officials Struggle for Fix

“If your business falls victim to ransomware and you want simple advice on whether to pay the criminals, don’t expect much help from the U.S. government. The answer is apt to be: It depends. “It is the position of the U.S. government that we strongly discourage the payment of ransoms,” Eric Goldstein, a top cybersecurity […]
nbsp;

Risk

Hit By a Ransomware Attack? Your Payment May Be Deductible

“As ransomware attacks surge, the FBI is doubling down on its guidance to affected businesses: Don’t pay the cybercriminals. But the U.S. government also offers a little-noticed incentive for those who do pay: The ransoms may be tax deductible. The IRS offers no formal guidance on ransomware payments, but multiple tax experts interviewed by The […]

On The Wires

nbsp; nbsp; nbsp;

Risk

Stripe Newsroom: Stripe Launches Stripe Identity, an Identity Verification Tool to Increase Trust Online

“Stripe today announced the launch of Stripe Identity, the easiest way for internet businesses to securely verify the identities of users from over 30 countries. As more economic activity happens online, the need for internet businesses to establish and maintain high levels of trust increases commensurately. Online businesses frequently need to verify the identities of […]