The Latest

West African fraudsters have been identified as the actors behind a worldwide email scam in which more than $60 million has been stolen from small and midsize businesses and their financial institutions.

Unitus Community Credit Union, a $1-billion institution based in Portland, Ore., said its board of directors named Steven Stapp as its new president and chief executive officer, following a national search.

The transactions look so ordinary that most banks' fraud filters aren't able to detect them. And the perpetrators aren't typical hackers — they are middle-aged churchgoers who believe they are taking back what's rightfully theirs.

The $7.5 billion-asset company said in a press release Thursday that Curtis Glovier had become chairman and chief executive of Pensco Trust Co.

Zooko Wilcox, founder of Zcash, discusses how advanced cryptography can bring confidentiality to transactions on distributed ledgers; the relative merits and drawbacks of the Bitcoin and Ethereum models; and more.

Bill Barhydt, founder of startup Abra, explains how his company's mobile app uses bitcoin as a payment rail for cross-border remittances while solving the foreign exchange risk and last-mile problem that have hampered adoption of the cryptocurrency.

The 30% Club's Brenda Trenowden talks about the need for more female role models in banking; Barbara Byrne and Sallie Krawcheck talk about successful women "rubbing people the wrong way"; and backers and advisers of the new movie Equity talk about being pregnant on Wall Street. Also Digital Asset Holdings staffs up with RBS and JPMorgan executives.

Overall card fraud losses in Europe have declined slightly over the last five years, but that trend is starting to reverse course, based on new data from FICO and Euromonitor International that points to sharp regional upticks in card-not-present fraud.

The Consumer Financial Protection Bureau on Thursday finalized new requirements for mortgage servicers that provide more help to struggling borrowers and add consumer protections when loans are transferred.

Nonbanking fees are also allowing Community Bank System in New York to be a patient acquirer even though it is creeping up on $10 billion in assets.