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Risk & Fraud

UK government and banks plan anti-fraud initiative

“According to the Daily Telegraph, ministers have become increasingly concerned about the impact of fraud in recent months, with attacks on more than 1,300 TSB customers after the bank’s IT meltdown in April. The bank’s chief executive Paul Pester stepped down earlier this month.”
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Risk & Fraud

Securing Omnichannel Experiences from Cross-Channel Fraud

“With cross-channel fraud, a fraudster steals personal information about a user from one channel, and then uses that information to commit fraud in another. Here’s an example. Fraudsters frequently use social engineering scams to trick a user into granting access to an online account, like a banking account. Once in, the fraudster has easy access to […]
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Risk & Fraud

New Data Security Study of Fintech Apps Highlights Vulnerabilities

“Given their rapid spread and growth, this question urgently needs answering. As part of its ongoing CFI Fellows Program, CFI asked Patrick Traynor, professor at the University of Florida’s Department of Computer Information Science & Engineering (CISE) to find out. Traynor and his team of computer science researchers looked at the security of online fintech applications using a […]
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Risk & Fraud

Voice Phishing Scams Are Getting More Clever

“Most of us have been trained to be wary of clicking on links and attachments that arrive in emails unexpected, but it’s easy to forget scam artists are constantly dreaming up innovations that put a new shine on old-fashioned telephone-based phishing scams. Think you’re too smart to fall for one? Think again: Even technology experts […]
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Risk & Fraud

Sophisticated email scammers dupe father of two into wiring $123,000 to phony account – putting family out of their home days before Christmas

“Aaron Cole, 30, spoke out in an interview with KGW-TV on Wednesday, detailing the sophisticated plot that defrauded his family after the sale of their home in Oregon City, outside of Portland. Known as ‘spoofing’, the increasingly popular scam uses emails that appear to be from a trusted sender to convey phony bank routing information and dupe individuals […]
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