Payments News

On The Web

nbsp;

Security

Nacha Brings Verification of Payment-Related Data to Its Phixius Network

“As part of its effort to help users of its Phixius payment-data network mitigate fraud and enhance payment-routing certainty, Nacha announced Thursday the network will enable originators, fintechs, and financial institutions that originate and receive electronic payments to verify payment-related information, such as account ownership, account numbers, and routing information.”
nbsp;

Security

TSA to Begin Apple Digital ID Pilot in February

“Air passengers with Apple devices will soon be able to verify their identity at Transportation Security Administration (TSA) checkpoints at two US airports by presenting a digital ID document such as their mobile driving licence (mDL) or state ID stored in Wallet. The TSA is to begin trialling the use of Apple digital IDs as […]
nbsp;

Security

TSA to Begin Supporting Apple’s Digital IDs in February

“The idea of digital driver’s licenses has begun gaining more traction in the U.S. as the Transportation Security Administration (TSA) prepares to begin its rollout of Apple’s Digital IDs at key airports early next year. Similar to the way that Apple drove the adoption of mobile payments through Apple Pay, it appears that the introduction […]
nbsp;

Security

NY Man Pleads Guilty in $20 Million SIM Swap Theft

“A 24-year-old New York man who bragged about helping to steal more than $20 million worth of cryptocurrency from a technology executive has pleaded guilty to conspiracy to commit wire fraud. Nicholas Truglia was part of a group alleged to have stolen more than $100 million from cryptocurrency investors using fraudulent “SIM swaps,” scams in which identity […]
nbsp;

Security

Hackers Take $196 Million From Crypto Exchange Bitmart, Security Firm Says

“Hackers have taken $196 million from crypto trading platform Bitmart, a security firm said Saturday. Bitmart confirmed the hack in an official statement Saturday night, calling it “a large-scale security breach” and writing that hackers withdrew about $150 million in assets. However, blockchain security and data analytics firm Peckshield estimates that the loss is closer to […]
nbsp;

Security

Millions of Credit Card Details for Sale on Dark Web for As Little As 75p

“The credit card details of millions of people are being sold to criminals on the dark web for an average of less than £8 ($10.60) each. Research by VPN provider NordVPN of over four million credit cards for sale on the dark web found that credit cards from US citizens were the most common, with […]
nbsp;

Security

Meta Delays Encrypted Messages on Facebook and Instagram to 2023

“The owner of Facebook and Instagram is delaying plans to encrypt users’ messages until 2023 amid warnings from child safety campaigners that its proposals would shield abusers from detection. Mark Zuckerberg’s social media empire has been under pressure to abandon its encryption plans, which the UK home secretary, Priti Patel, has described as “simply not […]
nbsp;

Security

Plaid Leads Effort to Raise the Bar on Fintechs’ Data Security

“The data aggregator Plaid is leading the charge for a new data security standard for fintechs. The San Francisco company, which delivers bank account data to 4,500 fintech clients, has recruited other companies to this effort, including the data aggregators Flinks and MX; the employment verification provider Truework; and the security compliance companies Drata, Laika, […]
nbsp;

Security

US Banks Ordered to Report Major Cyber Incidents Within 36 Hours

“US banking regulators on Thursday finalised a rule that directs banks to report any major cyber security incidents to the government within 36 hours of discovery. Separately, the banking industry said it had successfully completed a massive cross-industry cyber security drill that aims to ensure Wall Street knows how to respond in the event of […]

On The Wires

nbsp;

Security

Ransomware Study: Two Thirds of Security Professionals Believe Ransomware and Terrorism Threats Are Equal

“Venafi® , the inventor and leading provider of machine identity management, today announced the findings of a global survey of more than 1,500 IT security decision makers that reveals that almost two-thirds (60%) of security almost two-thirds (60%) believe ransomware threats should be prioritized at the same level as terrorism. These opinions echo the U.S. […]