As the digital economy continues to grow, people are relying on virtual transactions more than ever. But with the expansion of digital money movement comes new opportunities for fraudsters to exploit merchants and their customers. In today’s economy, fraudulent activity can happen anywhere, to just about anyone. Digital cybercriminals are …

LawFi, a payments platform for law firms, announced a $1.5-million pre-seed funding round from Capital Q Ventures. Digital-banking provider Ibanera announced Portl, a set of blockchain-based payments technologies for online gaming. NordVPN, a vendor of cybersecurity technology, launched an insurance program offering victims of identity theft reimbursement up to $1 million for …

Nuvei Corp. launched card issuing in 30 markets in Europe with 2024 plans to expand it to the United Kingdom, the United States, and Latin America. The program enables clients to offer physical and virtual white-labeled cards. Payments-technology provider BHMI said it will market its software through a reseller agreement with NCR …

Fraud at call centers operated by financial services organizations increased 39% from 2019 to 2022, according to new data from TransUnion LLC. That was the third-largest increase among sectors, surpassed only by travel and leisure and logistics, finds the TransUnion “2023 State of Omnichannel Fraud Report.” The report is based …

Data compromises in the U.S. market for the first three quarters of 2023 totaled 2,116, a record high for the first nine months of a calendar year, according to the Identity Theft Resource Center. The previous high was set in 2021, when 1,862 compromises were recorded over the first nine …

Here’s why more merchants and service providers are starting to embrace embedded finance. This year marks the 25th anniversary of PayPal. While e-commerce existed in some form as early as 1979 (once any new technology arises, it’s not long before someone monetizes it), PayPal changed the game for small- and …

As digitalization of payments information continues to permeate society, the allure of getting a hold of that data illicitly is unabated. Already, for the first half of 2023, the number of U.S. data compromises is higher than the total compromises for every full year between 2005 and 2020, except for …

The number of reported data compromises totaled 445 in the first quarter, a 13% decrease from the previous quarter, according to the latest report from the Identity Theft Resource Center. The number of victims decreased 64% in the same period. Health care breaches, at 81, led the quarter followed by financial services …

If there is one constant about fraud, it’s that it never takes a holiday. A new report from Nice Actimize, a provider of fraud-prevention solutions, reveals that attempted fraud transactions skyrocketed in 2022 by 92%, compared to 2021, and that the money criminals attempted to steal soared by 146%. The …

Data breaches remained at near record levels in 2022, according to the Identity Theft Resource Center’s annual data breach report. The number of breaches totaled 1,802 last year, just 60 short of the all-time high recorded in 2021, making the total number of breaches in 2022 the second-highest on record. …