Coinbase taken to court, twice
Cryptocurrency exchange Coinbase has landed in more hot water with two federal class action lawsuits.
Financial Crime & Fraud
AI and ML curbing financial fraud
A never-ending cycle in the good guy vs bad, but good folk are now gaining ground.
Signifyd to provide guaranteed fraud protection to Corra’s e-commerce clients
Guaranteed fraud prevention technology for Corra’s high-end enterprise retail customers.
PSR plays protector in payment scam fight
New industry code on the way to deal with consumer complaints about APP scams.
India’s central bank issues Swift ultimatum for core banking
With a deadline of 30 April 2018.
Zonafide blockchain brings bona fide touch to Atos
UK firm will help Atos combat identity theft and cybercrime.
Hackers swipe $2m from India’s City Union Bank via Swift
Three “fraudulent remittances” – sent via correspondent banks to accounts in Dubai, Turkey and China.
Hackers steal $6m from Russian bank via Swift
Russian central bank disclosed the information… very discreetly.
Payfone gets $23m in funding from Synchrony Financial
New round takes digital identity authentication company’s total funding to $93.6 million.
NetGuardians signs first customer in North America
Canada’s FirstOntario Credit Union looks for help in fight against fraud and cybercrime.
US DoJ shuts down payment card fraud ring
Transnational criminal gang responsible for more than $530 million in losses from cybercrimes.
Infographic: 77 facts about cybercrimes one should know in 2018
Did you know that 75% of mobile apps would fail a basic security test?
Radius Bank mixes it with Alloy for digital revamp
Massachusetts-based bank plans to become a digital-first entity.
Could data masking prevent credit card fraud?
Examining the latest weapon cybercriminals have acquired – data masking.
Infographic: the most shocking personal data hacks of all time
Including data hacks of Equifax and JP Morgan Chase as well as online security tips.
Hackers steal $534m from Coincheck cryptocurrency exchange
But it will compensate more than $423 million to 260,000 users who lost out.
Cryptocurrency mining scam catches 15m people out
Running undetected for over four months.
UK’s new watchdog shows AML instinct
Office for Professional Body AML Supervision is unleashed.
Top fintech stories this week – 26 January 2018
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
Payfone in its element with O2 digital partnership
Initiative aims to protect mobile users from fraud.
ThreatMetrix teams up with GlobalOnePay
Will power GlobalOnePay’s Sentinel Defend, a fraud detection and scoring engine.
Jumio teams with Byteball to bring KYC to ICO issuers
When the gold rush is on, perhaps it’s better to sell picks and shovels to the miners.
Featurespace now features new CFO
Starting off the new year with a new chief financial officer – Jonathan Crossfield.
Blooom fighting fraud in world of the 401(k)
US independent robo advisor Blooom unveils new Suspicious Activity Alerts feature.
ACI Worldwide and HyperPay partner to fight fraud in MENA
The two companies will offer integrated, real-time fraud prevention solutions for e-commerce payments for merchants in MENA.
Top fintech stories this week – 22 December 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Blockchain and bitcoin round-up: 20 December 2017
More bite-size Bitcoin and blockchain news.
European Payments Council report: 2017 payment threats and fraud trends
An overview of the most important threats in the payments landscape.
EU sets in motion rules to tackle cryptocurrency money laundering
Plans to apply tighter rules to prevent money laundering and terrorism financing on cryptocurrency exchange platforms.
Using artificial intelligence to keep criminal funds out of the financial system
Are you suspicious? This is a key question at the heart of efforts to tackle money laundering: if you work for a bank or other financial institution and have suspicions money laundering is happening, you have a legal duty to speak up.
Simility adds PayPal as investor in $17.5m funding round
Risk management firm Simility locks in $17.5 million in new funding, with help from PayPal.
NetGuardians teams up with Masaref Business & Systems Consulting
Will bring the Swiss fintech’s anti-fraud solutions to FIs in the Middle East.
Cybersecurity needs to be a global and coordinated effort
Recent cyberattacks, such as the October 2017 Swift attack, show how vulnerable financial firms across the globe are to the machinations of hackers.
BS/2 and VisionLabs fool fraud with faithful facial recognition tech
BS/2, a Lithuanian banking technology company, and VisionLabs, a face recognition software provider, have teamed up to fight financial crime by offering contactless identification for self-service terminals. The duo will offer an integration solution – using BS/2’s ATMeye.iQ, a self-service video surveillance and fraud prevention system, and VisionLabs’ LUNA face recognition platform. The solution uses […]
Blockchain and Bitcoin round-up: 1 December 2017
Quickly following on from yesterday’s (30 November) blockchain and Bitcoin round-up, here’s more action. Features money laundering in Japan; Coinsource ATMs in Georgia; Cardano Foundation, IOHK and Emurgo teaming up; and PwC in Hong Kong. Over in Japan, Kyodo and Jiji news sites have reported 170 cases of suspected money laundering linked to cryptocurrencies were […]
Using the web to access online banking? Who is protecting the browser side?
To date, there hasn’t been a way to understand if online users are being compromised or to be sure precisely what they are seeing whilst visiting and interacting with a web page. We know that endpoint security and anti-viruses fail and online users can be infected even with all the precautions that they may take. Server-side security is now very mature and excellent progress has been made in that particular field.
Blockchain and Bitcoin round-up: 24 November 2017
That Friday feeling isn’t complete without another round of the latest blockchain and Bitcoin news! Following on from yesterday (23 November) our latest covers Globitex, Billion and Bitcoin Gold.
Blockchain and Bitcoin round-up: 21 November 2017
From major crimes to KYC times. Our latest blockchain and Bitcoin round-up features Tether, Metal, Deutsche Bank and IBM. Digital currency firm Tether is feeling under the weather as it has reported that “funds were improperly removed from the Tether treasury wallet through malicious action by an external attacker”. The amount is a rather large […]
Crime moves upmarket as fraud becomes UK’s number 1 offence
New research from Experian claims fraud is now the UK’s most common criminal offence, much to the dismay of thugs and hoodlums everywhere, reports Telecoms.com (Banking Technology‘s sister publication). The company’s Annual Fraud Indicator 2017 estimates the annual cost of fraud in the UK is £190 billion, exceeding the total gross domestic product of 148 […]
Crime thriller: Trading Down, by Stephen Norman – part 3
Over the past few weeks, we’ve been sharing some extracts from a new crime thriller, Trading Down, by Stephen Norman, long serving CIO/CTO of RBS Global Markets. Here, in the third and final extract, we return to the action at the Hamilton Datacentre crisis.
