Every now and then, an executive in the payments business comes up with a catchphrase that captures a complex concept, and you know it’s going to resonate. A good example lies in describing the tension between tight security protocols and practices and a positive customer...
Fraud has become, to put it mildly, big business. Featurespace Chief Operating Officer Tim Vanderham told PYMNTS’ Karen Webster in an interview that “when you think about the billions and billions of dollars that come from scams globally,” the money made from illicit gains overshadows...
French police are reportedly investigating a ransomware attack at a Paris Olympic venue. The attack, the subject of a Tuesday (Aug. 6) report by Reuters, is the latest such incident tied to this year’s summer games. In this case, criminals targeted the central computer system at the...
Four years after the collapse of online payments company Wirecard, German prosecutors have reportedly charged two more of the firm’s former executives. Wirecard’s former finance chief, Alexander von Knoop, and its former board member for product development, Susanne Steidl, have been charged with several counts...
IBM has added generative artificial intelligence (AI) capabilities to its managed threat detection and response services. Built on the company’s watsonx data and AI platform, the new IBM Consulting Cybersecurity Assistant is designed to speed and improve the identification, investigation and response to critical security...
JPMorgan Chase could be headed for a dust-up with the Consumer Financial Protection Bureau. In its “Consolidated Financial Statements” for the six months ending June 30, the bank indicated that the CFPB has inquired about transactions through the Zelle network and that it is currently...
Identity security firm Axiad has raised $25 million in a new funding round. The financing, announced last week, will be used for product development, hiring, enhanced sales/marketing efforts and to help the company obtain Federal Risk and Authorization Management Program (FedRAMP) Authority to Operate. “According...
The United Kingdom’s National Crime Agency (NCA) reported Thursday (Aug. 1) that it shut down a platform that was used to make 1.8 million scam calls to people in 107 countries. The platform, Russian Coms, enabled criminals to place calls that appeared to come from the...
Consumers are turning to peer-to-peer (P2P) apps like Venmo and Zelle for quick and easy money transfers. But while these services have become ubiquitous, concerns about fraud are casting a shadow over their growth. A recent PYMNTS Intelligence report, “P2P Payment Potential: Promoting Convenience While...
