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FTC orders MoneyGram to return $115 million to scam victims

More than $115 million in refunds are being sent to consumers nationwide as a result of a 2018 action the Federal Trade Commission and the U.S. Department of Justice brought against MoneyGram for failing to crack down on scammers using their payment system.

/security

PSR sets out proposed plans for the reporting of Authorised Push Payment scams

Today, the PSR has published its latest consultation on guidance to support payment service providers (PSPs, like banks and building societies) with providing correct data when they report their Authorised Push Payment (APP) scams data to the regulator.

/security

BofA reports record year for patents granted

Bank of America announced a record-breaking year for patents received in 2022 with 608 patents granted, a 19% increase year over year.

/security

Sionic rolls out fraud protection tech for instant payments

Sionic, a leading provider of omni-commerce, faster digital payments solutions, today announced it is launching a suite of new, trust-based services to address the significant challenges facing faster payments in the U.S. whether on The RTP Network or upcoming FedNow bank rails.

/security

Drawbridge names Nick Pastoressa chief product and technology officer

Drawbridge, a premier provider of cybersecurity software and solutions to the alternative investment industry, today announced the appointment of Nick Pastoressa as Chief Product & Technology Officer.

/security

ECB IT chief quits to lead German cybersecurity efforts

The Director General Information Systems of the European Central Bank (ECB), Claudia Plattner, will leave the central bank to join the German Federal Office for Information Security (BSI).

/security

Afterpay reduces fraud risk with Cloudera

Cloudera, the hybrid data company, today announced that ‘Buy Now, Pay Later’ (BNPL) leader, Afterpay, is using the Cloudera Data Platform (CDP) to run streaming analytics and advanced machine learning for real-time fraud detection.

/security

EBA clarifies the application of strong customer authentication requirements to digital wallets

The European Banking Authority (EBA) today published three Q&As that, jointly with three other Q&As that the EBA had published previously, clarify comprehensively the application of strong customer authentication (SCA) to digital wallets under the revised Payment Service Directive (PSD2).

/security

Commonwealth Bank adds anti-scam features to app

Commonwealth Bank today announced enhancements to its scam prevention, detection and customer support strategy with additional technology initiatives including industry-first NameCheck technology for money transfers and new caller verification via the CommBank app.

/security

GSS platform to deploy Silent Eight AI for sanctions adjudications

Global Screening Services (GSS) and Silent Eight, have today announced that following a competitive selection process, Silent Eight’s flagship AI technology will power sanctions adjudications in the GSS platform.

/security

OneSpan snaps up Aussie blockchain tech provider, ProvenDB

OneSpan Inc. (NASDAQ: OSPN), the digital agreements security company, today announced that it has agreed to acquire ProvenDB, an Australia-based startup that delivers secure storage and vaulting for documents based on blockchain technology, to provide an industry-leading trust model for high assurance contracts and documents. ProvenDB will extend the capabilities of OneSpan’s Transaction Cloud Platform to both public and private blockchains and serve as a modern technological foundation for high assurance business processes for Web3.

/security

Bluefin adds network tokenisation through Visa tech

Bluefin, a leader in integrated payments and data and payment security, today announced it has teamed up with Visa for network tokenization.

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