Payments News
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Risk & Fraud

This page is currency unavailable… Travelex scrubs UK homepage, kills services, knackers other sites amid ‘software virus’ infection

“Foreign currency mega-exchange Travelex said on Thursday it was forced offline by a “software virus” infection, bring down a number of currency-exchange websites with it. In a statement shared on Thursday, the UK-headquartered biz said the digital nasty, first spotted on New Year’s Eve, caused it to unplug its UK site and online services while […]

On The Web

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Risk & Fraud

On the First Day of Christmas Shopping, the Bots Came to Town in Droves

“Bots operated by criminals did more than leave lumps of coal for merchants and consumers this holiday shopping season. During Black Friday week, criminals used mobile devices to create new accounts to mimic new customers and initiate transactions through an established and seemingly genuine account, according to LexisNexis Risk Solutions. LexisNexis highlighted the bot activity […]
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Risk & Fraud

Look How Easy It Is to Fool Facial Recognition—Even at the Airport

“The test, by artificial intelligence company Kneron, involved visiting public locations and tricking facial recognition terminals into allowing payment or access. For example, in stores in Asia—where facial recognition technology is deployed widely—the Kneron team used high quality 3-D masks to deceive AliPay and WeChat payment systems in order to make purchases.”
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Deals

Mastercard Acquires RiskRecon to Enhance Cybersecurity Capabilities

“Mastercard (NYSE: MA) today announced an agreement to acquire RiskRecon , a leading provider of artificial intelligence and data analytics solutions to support companies in protecting their cyber systems and infrastructure. In a rapidly evolving digital world, cybercrime is a pertinent threat to business. Large-scale data breaches and ransomware attacks place billions of records at […]
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Risk & Fraud

Canadian Banks Spoofed in 2-Year Phishing Attack

“Fourteen banks, including CIBC, TD Canada Trust, Scotiabank, and the Royal Bank of Canada (RBC) were spoofed in a large-scale operation that involved multiple look-alike domains.  The attack starts by sending legitimate-looking emails containing a PDF attachment. The attachment uses what appears to be an official bank logo, as well as an authorization code. Victims […]
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Risk & Fraud

Travelex ‘Being Held to Ransom’ by Hackers Said to Be Demanding $3m

“The foreign currency specialist Travelex is reportedly being held to ransom by hackers who launched a cyber-attack a week ago that forced the firm to take down all of its global websites . Criminals are thought to be demanding about $3m (£2.3m) – to give the firm access to its computer systems after they attacked […]
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Risk & Fraud

Lawmakers Prod FCC to Act on SIM Swapping — Krebs on Security

“Crooks have stolen tens of millions of dollars and other valuable commodities from thousands of consumers via “SIM swapping,” a particularly invasive form of fraud that involves tricking a target’s mobile carrier into transferring someone’s wireless service to a device they control. But the U.S. Federal Communications Commission (FCC), the entity responsible for overseeing wireless industry practices, […]
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