Fraud

April 27, 2016

Chip Cards Still Causing Frustration

U.S. Credit-card networks began pitching chip cards years ago to protect against counterfeits, and merchants were supposed to join banks and payment processors by Oct. 1, or face […]
April 21, 2016

Banks, Credit Unions Victims of $4M Cybertheft

Cyberthieves using malicious software discovered by IBM Security have stolen $4 million from business customers of two dozen financial services providers this month, according to IBM. […]
April 19, 2016

Lenders Need to Prepare for Cyber Attacks

The sudden ordinariness of corporate data breaches has led to feelings of helplessness inside the financial industry.  That sense of despair is apt to be particularly […]
April 6, 2016

Can Banks Become Unphishable?

In a warning issued this week, the FBI said it’s seen a 270% increase in identified victims and exposed losses due to business email compromise since […]
March 25, 2016

Collector Accused of Stealing $1M in Debts

Alan Ceccarelli, a Buffalo, N.Y.-based debt collector, allegedly misled and coerced thousands of people into paying debts they possibly didn’t owe, according to a 41-count grand […]
March 18, 2016

CFPB Recovers $14.3 Million for Consumers

The Consumer Financial Protection Bureau (CFPB) released its latest supervision report where the exams of banks and non-banks resulted in the remediation of $14.3 million to approximately 228,000 […]
March 15, 2016

What Banks Can Learn From the IRS Data Breach

The IRS recently acknowledged that the number of taxpayers whose information has been stolen by hackers through its systems is 724,000 – more than double the […]
March 10, 2016

Consumer Bankruptcy Filings Down; Commercial Filings Up

Total U.S. bankruptcy filings decreased just 1% in February from the same period last year, according to data provided by Epiq Systems, Inc. Bankruptcy filings totaled […]
March 7, 2016

Some Advisers Aren’t Reporting Cyber Breaches

Many advisory firms are playing with fire by failing to report to regulators cybersecurity breaches, both big and small, experts say.  “What we see firms are […]