Investment

After vowing for months to crack down on ransomware, the Biden administration and allied countries unleashed a string of actions Monday against one of the most prolific hacking groups and also issued sanctions against cryptocurrency entities that allegedly enable such attacks.

If law enforcement concludes that the company's devices were used in a cyberattack on U.S. companies, banks may need to change the way they choose, test and monitor point-of-sale equipment.

Crypto firms that offer stablecoins, blockchain-based decentralized finance apps and services supporting peer-to-peer transactions may be required to keep tabs on their users’ identities and funds as a way of preventing money laundering and terrorism financing, the Financial Action Task Force said.

The decision came prior to news of a federal investigation of PAX Technology and a raid of its Florida locations that has prompted inquiries from customers about the security of devices that they have relied on for making and receiving payments.

The DeFi protocol Cream Finance suffered yet another 2021 hack in an exploit that stole at least $130 million and could be one of the largest thefts in decentralized finance.

The credit bureau's $638 million deal to buy the ID verification firm is its second M&A agreement in a little over a month to broaden its line of products and services that help customers combat fraudsters and identity thieves.

These venture capital firms are investing in young companies that could help small financial institutions meet their growing technology needs.

Maxwell, a startup that operates an online platform catering to mortgage loan officers and smaller lenders, raised $28.5 million in equity funding from investors led by the venture firm Fin VC and Wells Fargo Strategic Capital.

Cybersecurity teams are using scoring systems, standard formats and other tactics to prioritize the deluge of alerts they're receiving about commonly used programs.

Nonfungible tokens, which provide proof of ownership in the digital world, are booming. Payment companies are betting they will require payment rails to fund high-value purchases and attract new customers for loyalty marketing.