Payments News

On The Web

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Security

A Hacker Got All My Texts for $16

“The method of attack, which has not been previously reported or demonstrated in detail, has implications for cybercrime, where criminals often take over target’s phone numbers in order to harass them, drain their bank account, or otherwise tear through their digital lives. The attack also brings up issues around private, corporate, and national security, where […]
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Security

Thousands of fraudsters are selling via Shopify, analysis finds

“Tens of thousands of sellers are using the ecommerce platform Shopify to scam consumers and sell counterfeit goods, after the company’s rapid growth has left it exposed to fraudsters. According to the ecommerce authentication service FakeSpot, which analysed more than 120,000 Shopify sites, as many as 21 per cent posed a risk to shoppers.”
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Security

Banks See Billion-Dollar Cyber Costs Soaring Even Higher in 2021

“Big banks and other financial firms predict the cost of warding off cyber criminals will keep climbing in 2021 as they work to secure digital financial services popularized by the pandemic. Cybersecurity topped the list of expected budget increases in a survey of technology spending conducted by Deloitte & Touche LLP, with 64% of executives […]

On The Wires

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Security

You Are Worth $1,000 on the Dark Web, New Study by Privacy Affairs Finds

“The Dark Web sees personal information sold to this day. In 2020, organizations like NASA, McDonald’s, Visa, MasterCard, Microsoft, and Google have experienced security breaches, leading to theft of credit card details, online banking logins, and social media credentials. Later, all this information can be found sold on the Dark Web. PrivacyAffairs.com collected hundreds of […]
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Reports

LexisNexis Risk Solutions Cybercrime Report Finds Young Adults and Adults Over 75 Most Vulnerable to Fraud Attacks

“LexisNexis® Risk Solutions released its biannual Cybercrime Report covering July 2020 through December 2020, which details how the evolving threat landscape created new opportunities for cybercriminals around the world, particularly as they targeted new online users. Analysis shows that the under 25 age group is most vulnerable to fraud attacks while the oldest age group is second most […]
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Security

Mastercard Launches AI-Powered Solution To Protect The Digital Ecosystem

“Mastercard today announced Cyber Secure, a first-of-its-kind, AI-powered suite of tools that allows banks to assess cyber risk across their ecosystem and prevent potential breaches. With these capabilities, banks can identify and prioritize threats and vulnerabilities throughout their cyber environment. Additionally, acquiring banks can help merchants understand their own cyber risk, preventing hundreds of millions […]