Newly released Federal Trade Commission data show that consumers reported losing more than $12.5 billion to fraud in 2024, which represents a 25% increase over the prior year.
The payments landscape is more sophisticated than ever, but so are fraudsters. With financial institutions (FIs) deploying artificial intelligence (AI), machine learning (ML) and other cutting-edge technologies to secure transactions, cybercriminals are increasingly finding that the easiest way in is through the weakest link: people.
Experiencing a ransomware infection or other security breach ranks among the worst days of anyone's life — but it can still get worse.
Like if you completely and utterly stuff up the incident response investigation and that snafu adds millions of dollars more in damages costs to the overall bill.
As a result of a Federal Trade Commission lawsuit, a federal court has temporarily halted the operations of a wide-ranging business opportunity and credit repair scam that has operated under the name “Growth Cave” since at least 2020.
To help ensure credit unions can continue to support the needs of Americans struggling with inflation, the National Credit Union Administration will no longer publish overdraft and non-sufficient fund fee income for individual credit unions, Chairman Kyle S. Hauptman announced today. The NCUA will collect the data during supervisory examinations.
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