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...
Push payments fraud in the U.K. increased in volume last year, while declining in value. That’s according to a report issued Thursday (Aug. 1) by the country’s Payment Systems Regulator (PSR), showing that authorized push payments (APP) fraud reached nearly £341 million ($433 million) last...
In internet lingo, the abbreviation IRL means “in real life.” But for the now defunct social media platform IRL, reality and the picture the company painted for its investors were allegedly two very different things. That’s according to charges filed this week by the Securities and Exchange Commission (SEC) against...
Fraudsters are drawn to compromised digital ecosystem like ants to a picnic. Bad news for companies creates opportunities for criminals — with disruptions like the recent CrowdStrike and Microsoft outage offering a perfect cocktail of urgency, uncertainty and money movement for scammers and fraudsters to exploit....
Amid a worldwide data breach surge, France is dealing with an older-school type of cyberattack. As Bloomberg News reported Monday (July 29), vandals have cut several fiber optic cables carrying broadband service across the country, now four days into hosting the Olympic Games. According to...
The United Kingdom’s National Crime Agency (NCA) and seven U.K. banks are working together to identify and take action against organized crime. In this public-private partnership, the banks are providing the NCA with account data that indicates potential criminality, and investigators from both the NCA...
The Security Summit has issued a stern warning to tax professionals, urging them to heighten their awareness of indicators of identity theft as part of the ongoing “Protect Your Clients; Protect Yourself,” initiative. The IRS and its coalition of partners emphasized the shifting strategies of...
