Risk

By taking action today, you can begin to have peace of mind that your previously existing fraud vectors have been sealed off, says PaymentWorks' Thayer Stewart.

If the processor does not understand the particular needs of high-risk businesses, merchants working with them could face sudden financial disaster if accounts are terminated without warning, says T1 Payments’ Donald Kasdon.

Jane Fraser, who is poised to become the first woman to lead a major U.S. bank, possesses turnaround experience and strong interpersonal skills that make her well suited for mending fences with regulators and investors, according to present and former colleagues.

Netwalker attacks are known to target victims using phishing emails disguised as COVID-19 updates from their organization, taking advantage of the heightened fears and anxieties that come with the current pandemic, says Stealthbits Technologies' Dan Piazza.

Implementing real-time documentation and reporting workflows enabled by AI-powered speech recognition cuts time, says Nuance Communications' Ed McGuiggan.

By implementing email protections and patches, the bank was able to protect mobile payments, ATMs, and digital banking, says Red Canary's Tony Lambert.

In the coming months, governments will continue to disburse truly historic amounts of funds; and we can continue to expect historic levels of fraud. Leveraging technology can get money to those who deserve it while preventing criminals from exploiting this crisis, says Giant Oak's Gary Shiffman.

Citigroup will establish new internal oversight guidelines, spend more on technology and take other steps to upgrade risk systems, CFO Mark Mason said at an industry conference in discussing the aftermath of the bank’s mistaken $900 million payment.

This information can be used to access bank accounts and combined with other information on the dark web to access social media profiles, email accounts and more, says Jumio's Robert Prigge.