Tag "fraud"
Hackers Tap Cross-Chain Bridges Vulnerabilities; Whopping US$2B Worth of Crypto Stolen
Hackers and cybercriminals are exploiting vulnerabilities found in cross-chain bridge protocols to siphon billions of dollars worth of cryptocurrencies out of wallets and smart contracts, a new report by blockchain analytics firm Chainalysis claims. A total of 13 separate cross-chain
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Digital ID Verification, Remote Document Signing to Become the Norm in Finance Sector
The pandemic has accelerated the growth of non-face-to-face interactions, forcing banks, merchants and others to swiftly deploy digital tools to accurately verify the identity of the person on the other end of a digital transaction. A 2021 study by advisory
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Social Media Financial Scams Balloon
Around the world, fraudsters are turning to social media platforms like Facebook and Instagram to reach billions of potential victims. As losses continue to pile up, regulators are voicing their concerns, with one going as far as suing a social media
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European Financial Services Providers, Banks Embrace Biometric Authentication
In Europe, financial services companies and banks are embracing biometrics, actively partnering with tech vendors and software developers to improve digital onboarding experiences, strengthen compliance functions, and enhance fraud prevention. Biometric authentication techniques, which use a person’s unique biological characteristics
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Crypto Related Crime Surged to US$ 1.2 Billion in Q1 of 2019
Crypto related thefts, scams and fraud surged in the first quarter of 2019 to US$1.2 billion, or 70% of the entire year 2018 at US$1.7 billion, according to a report by cryptocurrency security firm CipherTrace. During Q1 2019, criminals stole
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