Payments News
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Risk & Fraud

Britain’s Digital Payments Have Gotten Too Fast

“Unlike debit and credit card networks, which have certain types of fraud protection , consumers have had little recourse from scams involving bank-to-bank transactions. More than £600 million ($772 million) was stolen through scams, including unauthorized card fraud, in Britain during the first six-months of the year, according to trade association UK Finance .”

On The Web

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Risk & Fraud

How Cash-Out Attacks Are Becoming the Next Big Worry for ATM Operators

“Payments executives are starting to go public with concerns about a growing type of ATM fraud call the cash-out attack. Unlike the well-known, single-machine attack known as jackpotting , cash-out frauds allow criminals to gain access to multiple machines simultaneously at the network level. They then employ accomplices to visit these machines to draw out […]
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Risk & Fraud

American Cancer Society’s Online Store Infected With Credit Card Stealing Malware

“The American Cancer Society’s online store has become the latest victim of credit card-stealing malware. Security researcher Willem de Groot found the malware on the organization’s store website, buried in obfuscated code designed to look like legitimate analytics code. The code was designed to scrape credit card payments from the page, like similar attacks targeting […]
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Risk & Fraud

NCR Barred Mint, QuickBooks From Banking Platform During Account Takeover Storm — Krebs on Security

“Banking industry giant NCR Corp. [ NYSE: NCR ] late last month took the unusual step of temporarily blocking third-party financial data aggregators Mint and QuickBooks Online from accessing Digital Insight, an online banking platform used by hundreds of financial institutions. That ban, which came in response to a series of bank account takeovers in which cybercriminals used aggregation sites to surveil […]
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Risk & Fraud

The Big Bitcoin Heist

“But the true value of the computers was far greater. If the thieves knew how to operate them, the machines could be used to mine Bitcoins—an operation that would churn out a continuous stream of virtual money for the burglars, all of it encrypted and completely untraceable. The criminals weren’t robbing banks, or even Fort […]
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Risk & Fraud

Facebook Sues Israel’s NSO Group Over Alleged WhatsApp Attack

“In the suit, Facebook, which owns WhatsApp, filed Tuesday in federal court in California, the company says that NSO Group’s software was behind a sophisticated campaign to hack the phones and messages of journalists, human-rights advocates and other targets chosen by its clients, which include foreign governments.”
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Risk & Fraud

Fraudsters Prep for Holiday Shopping Season With Increase in ATO Attacks

“Arkose Labs, in their newly released third-quarter fraud report, observed a 30 percent increase in account takeover attacks in the retail industry compared to the previous quarter. Arkose officials said 81 percent of all retail attacks were fraudulent payments transactions, with fraudsters targeting this sector to monetize the identity and payment credentials that have been […]