Payments News

On The Web

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Risk

Mexican Banks Targeted in Cyber Attack

“Cyber attackers attempted to penetrate Mexico’s electronic payment systems Friday, forcing three banks to enact contingency plans, according to people familiar with the matter. Three banks experienced “incidents” in recent days when operating the SPEI, Mexico’s interbank electronic transfer system, and will be connecting to the central bank’s network under “contingency schemes,” Banco de Mexico said in […]
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Regulation

UK Finance proposes payments tax to compensate fraud victims

“Banking lobby UK Finance has floated the idea of imposing a universal tax on funds transfers which banks could dip into to compensate victims of push payments fraud. Push payments fraud, which happens when businesses or individuals are conned into sending money to a fraudulent account to pay for goods or services, has become a political […]
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Risk

Scammers steal £500m from UK bank customers in six months

“Criminals stole more than £500 million from UK bank account holders in the first half of 2018, according to industry figures. Bank trade group UK Finance says that £145 million of the losses were down to authorised push payment (APP) scams, where crooks trick victims into sending money to another account. The remaining £358 million was lost […]
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On The Wires

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Risk

Account Holders Gain Greater Control, Visibility Over Real-Time Payments and Same-Day ACH Credits with ACH Alert’s Newly Launched PRO-TECH Services

“With PRO-TECH RT, account holders can establish parameters for incoming real-time payments and determine what conditions should prompt an alert. The alert, which can be sent via text, email or both, provides visibility on the status of the payment. Additionally, account holders can set up in advance an approved or blocked list based on factors […]