14 February 2018 | Analytics | Financial fraud and hacking | News | Payments

In the report titled “Cost of Cyber Crime Study,” Accenture and Ponemon Institute cites the figures related to the losses and costs borne by financial companies as a result of continuous cyberattacks and, hence, in connection with the need to protect their systems against breaches.

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13 February 2018 | Analytics | Banking techs | Financial fraud and hacking | News

Recent report published by Reuters unveil that Russian financial institutions were victims to heavy cyberattacks with over 1 billion roubles ($17 million) stolen from the banks in the country during the previous year. Hackers allegedly used Cobalt Strike tool designed to test security of the networks, according to the statement made by the Russian central bank this week.

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6 February 2018 | Banking techs | Financial fraud and hacking | News | Regulatory news

Two men were apprehended by the law enforcement authorities in the United States on criminal charges for installing malicious code on the ATMs for subsequent withdrawal of cash. The US Secret Service last week warned the financial institutions and vendors of ATM machines that the new fraudulent scheme is emerging in America after successful experience in other countries.

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2 February 2018 | Debit cards | Financial fraud and hacking | News | Prepaid cards

Stats reported by Bloomberg unveil that the volume of fraudulent card charges in Denmark grew 60% with the total losses resulting from card fraud reaching $18 million in 2016. Separately, online card fraud surged 300% counting from 2009.

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30 January 2018 | Biometric techs | Financial fraud and hacking | News | Payments

BehavioSec, a Stockholm-based developer of authentication solutions based on behavioral biometrics, reported it has raised $17.5 million in a Series B investment round led by Trident Capital Cybersecurity and joined by Cisco Investments and ABN AMRO apart from its existing investors such as Octopus Ventures and Conor Venture Partners.

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