Latest Security News: Finextra Research

Payments watchdog suggests £415,000 ceiling for APP fraud reimbursement claims

The UK's Payment Systems Regulator plans to set a £415,000 maximum reimbursement level for victims of authorised push payments (APP) fraud.

16 August 2023

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ANZ to implement mule account detection tech

ANZ is investing in a new security capability designed to detect mule accounts being used to receive funds from scam victims and other criminal activities.

11 August 2023

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Barclays says tech companies should be liable for scams on their platforms

Barclays is calling on tech companies to reimburse scam victims as part of four major recommendations to tackle the nation’s fraud epidemic.

10 August 2023

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SphereX raises $8.2m for smart contract security tech

Founded by the former CISO of Bank Leumi, Israeli web3 security company SphereX has raised $8.2 million in seed funding for its technology designed to prevent crypto hacks.

10 August 2023

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Visa UK introduces new measures to protect SMEs from 'friendly fraud'

Visa UK has introduced a raft of new measures to protect small businesses from soaring rates of 'friendly fraud', in which cardholders dispute a legitimate purchase with their card issuer.

09 August 2023

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More banks pay multi-million dollar penalties over WhatsApp use

Wells Fargo and BNP Paribas are among the latest banks to be hit with multi-million dollar penalties by US regulators over employee use of unofficial communication tools like WhatsApp and iMessage.

08 August 2023

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Mastercard enables CVC-less payments for tokenised cards in India

Mastercard has introduced Cardholder Verification Code-less online payments for debit and credit cardholders in India who have tokenised their cards on merchant platforms.

07 August 2023

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How instant payments will impact financial crime mitigation

Speaking at the Temenos Community Forum at Vienna earlier this year, Finextra interviewed Adam Gable, product director of financial crime, treasury, and risk at Temenos, and Hani Hagras, chief science officer at Temenos to discuss how instant payments has been a catalyst to accelerate speed and innovation in financial crime mitigation.

26 July 2023

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Spanish banks form fraud fighting JV

Banco Santander, BBVA and CaixaBank have set up a company that will see the Spanish lenders share data that will help tackle financial crime.

25 July 2023

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Dutch cops raid criminal network linked to ATM explosions in Germany

Dutch police have raided 25 locations in the Netherlands in an ongoing crackdown again a spate of of ATM bombings in Germany.

24 July 2023

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Supreme Court rules in favour of Barclays over APP reimbursement claim

Barclays Bank has overturned an appeals court ruling that rendered it potentially liable for a £700,000 authorised push payment scam against one of its customers.

12 July 2023

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Revolut lost $20 million to criminals exploiting payment loophole

Malicious actors exploited a fault in Revolut's payment prcoessing system to steal more than $20 million from the financial super app in 2022, the FT has reported.

10 July 2023

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