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Banking Fraud

UK banks and telecom giants launch "Scam Signal" to stop fraud in real time

UK banks and telecom giants launch "Scam Signal" to stop fraud in real time

UK Finance and GSMA's "Scam Signal" unites major UK banks and telecom operators to fight APP fraud through real-time alerts. Leveraging live call data and bank APIs, the tool helps detect suspicious transactions, enabling rapid intervention and reducing scam incidents by up to 41%.

New phishing scam targets banking credentials through Bing search results

New phishing scam targets banking credentials through Bing search results

A new phishing scam targeting KeyBank users on Bing search results is redirecting users to fake login pages that capture credentials. Hackers use advanced cloaking tactics to evade detection, with sites appearing ahead of the official bank page.

Banking Cybercrime Soars in South Africa - SABRIC 2023 Report

Banking Cybercrime Soars in South Africa - SABRIC 2023 Report

Cybercrime in South Africa surged by 45% in 2023, with financial losses nearing R3.3 billion, according to SABRIC’s annual report. Banking app fraud saw an 89% rise, while online card fraud grew 19%. SABRIC stresses the need for stronger partnerships.

UK: Ofcom launches investigation into whether Tismi failed to prevent misuse of its phone numbers by scammers

UK: Ofcom launches investigation into whether Tismi failed to prevent misuse of its phone numbers by scammers

This investigation falls under an enforcement programme, launched earlier this year, looking specifically at phone and text scams. The aim of this Programme is to support best practice in relation to the use of phone numbers and to ensure that providers are following Ofcom’s rules.

Transunion 2024 State of Omnichannel Fraud Report

Transunion 2024 State of Omnichannel Fraud Report

Fraud continues to rise globally, with cybercriminals exploiting the rapid growth of digital transactions. TransUnion’s 2024 State of Omnichannel Fraud Report highlights alarming trends in identity theft and synthetic identity fraud, driven by increasing digital transaction volumes.

Australia: Tech giants, banks and telcos to face massive fines and compensation for failing to protect scam victims under new laws

Australia: Tech giants, banks and telcos to face massive fines and compensation for failing to protect scam victims under new laws

Australians reported more than 601,000 scams in 2023 — a record number and an increase of 18.5 per cent on the previous year, costing victims $2.74 billion, according to the Australian Competition and Consumer Commission.

Nationwide policing operation targets widespread SIM box fraud

Nationwide policing operation targets widespread SIM box fraud

SIM boxes are allegedly used by criminals to commit large-scale SMS phishing attacks known as 'smishing'. Smishing is a malicious attack that uses deceptive text messages to deceive victims into downloading malware or sharing personal information.