Latest Security News: Finextra Research

Evolve Bank confirms data stolen by ransomware gang

Days after claiming that it had hacked the US Federal Reserve, the Russia-linked LockBit ransomware gang has posted stolen customer data from Evolve Bank & Trust on the dark web.

26 June 2024

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Fed launches ScamClassifier model

The Federal Reserve has developed a tool, called the ScamClassifier model, to help the payments industry improve scam reporting, detection and mitigation.

25 June 2024

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Scammers can crack almost half of passwords in less than a minute

Scammers could crack 45% of passwords within a minute, using brute force or smart guessing attacks, warns security firm Kaspersky.

21 June 2024

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EBAday 2024: Collaboration is key to fraud management

In one of the closing sessions of EBAday 2024 in Lisbon, panellists Marc Corbalan, VP of RTP analytics at Visa; Erwin Kulk, head of service development and management at EBA Clearing; Simone Löfgen, global head of payment platforms and managing director at Commerzbank; and Kannan Rasappan, founder and CEO of Banfico, explored innovations in cybersecurity in a panel titled ‘New approaches to fraud management’.

20 June 2024

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Elmore and Green Swan to offer insurance coverage against APP fraud

Elmore Insurance Brokers and RegTech Green Swan Compliance have teamed up on the development of an Authorised Push Payment (APP) Fraud Reimbursement Insurance product for qualifying UK banks, Payment Service Providers, E-Money Institutions, and Authorised Payments Institutions.

20 June 2024

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Martin Lewis tops NatWest's Celebrity Scam Super League

UK Money Saving Expert Martin Lewis tops the list of NatWest's Celebrity Scam Super League, which ranks the the highest value cases in which a celebrity’s name or image has been used without their knowledge to lure consumers into making a fake investment.

17 June 2024

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Westpac and CBA step up fight against scammers

Stepping up its fight against scammers, Westpac has introduced real-time Confirmation of Payee security features for consumer and small business customers.

13 June 2024

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UK home to 3m 'Frankenstein identities, posing multi-billion pound threat

The UK is home to nearly three million "Frankenstein" identities stitched together by fraudsters out of real and made up personal details, according to researchers who warn of a potential multi-billion pound hit to the economy.

13 June 2024

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EBAday 2024: Fintech Zone finalists revealed!

For the sixth year running, EBAday will host a dedicated Fintech Zone, where 16 early stage and growth startups will compete for the chance to be crowned the 2024 winner.

11 June 2024

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Mastercard targets 100% e-commerce tokenisation in Europe

Mastercard has set itself a target of hitting 100% e-commerce tokenisation in Europe by 2030, phasing out manual card entry and making online shopping safer and more accessible.

11 June 2024

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CFIT launches coalition to fight economic crime through verification

The UK Centre for Finance, Innovation and Technology (CFIT) has put together an industry coalition to fight economic crime through enhanced verification.

11 June 2024

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Santander customers warned about circumventing Facebook Marketplace scam prevention measures

Santander has found that come customers are circumventing new measures to stop bank transfers for Facebook Marketplace payments in cases where a customer has not seen the item in person.

10 June 2024

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