In the critically acclaimed, Oscar-winning 2019 film Parasite, a family’s cunning scheme to infiltrate a wealthy family’s home is a vivid metaphor for the stealthy and calculated maneuvers of advanced persistent threats (APTs) in the digital realm.
In bustling metropolises and rural communities alike, changes in the world of payments are forcing businesses to move at the speed of light. Whether you operate your business from a towering skyscraper or a busy village market, you must deal with dynamic evolutions in digital payments. From instant payments to super apps to embedded finance, businesses are embracing new ways to separate consumers from their money safely.
Ali Solehdin – Digitaltransactions.net – August 11, 2023 Instances of electronic benefits transfer (EBT) fraud have become more prevalent in the United States as criminals become more brazen and increasingly prey on society’s most vulnerable.
Once upon a time, there was a small business owner named Alice, who fought to keep her retail establishment afloat amid the stormy seas of a global pandemic. Like many other merchants, she embraced the digital revolution and moved her store online. This allowed her to reach more customers and keep her business buoyant. Her store, Alice’s Wonderland, offered a vibrant range of local handicrafts that started garnering attention on social media. It was a tale of small business success.
Ali Solehdin – The Banking Exchange In 2022 alone, the Supplemental Nutrition Assistance Program (SNAP) distributed over $113.9 billion to nearly 22 million households across the United States. This figure represents an increase of over $5 billion from the year prior and nearly a $40 billion increase from 2020. Unfortunately, as the SNAP allocation has increased, criminals — from individuals to organized crime rings — have stolen an increasing share of these benefits.
It’s the third day of your long-awaited vacation. While relaxing at the beach, you hear a not particularly welcome chime on your phone (because who takes a vacation from their phone), indicating a new email notification. Your bank notifies you that a significant transaction has been made on your account― a purchase you immediately realize you didn’t authorize. Your heart pounds as you log into your banking app only to find your account empty.
Picture a quaint, small town enveloped in the tranquility of a peaceful night. The only signs of life are flickering street lamps and the glow from the neighborhood automated teller machine (ATM). You spot someone approach the ATM, withdraw cash and walk away. It all looks so normal. What you don’t realize is that you have just witnessed a fraud attack, specifically, transaction reversal fraud (TRF).
It’s a typical Monday morning. You’ve just brewed a comforting cup of tea and are about to dive into the weekend sales reports for your online store. As usual, business seems to be booming until a glaring anomaly catches your eye – an alarmingly high number of transaction reversals over the weekend. A sense of unease creeps in as you probe deeper, only to uncover a chilling truth. Your business has become the latest prey to an insidious form of fraud, chargeback fraud.
Picture a quaint, small town enveloped in the tranquility of a peaceful night. The only signs of life are flickering street lamps and the glow from the neighborhood automated teller machine (ATM). You spot someone approach the ATM, withdraw cash and walk away. It all looks so normal. What you don’t realize is that you have just witnessed a fraud attack, specifically, transaction reversal fraud (TRF).
VANCOUVER, B.C. June 15, 2023 – BC Tech is proud to announce the finalists across 9 Technology Impact Award categories who achieved exceptional success in the past year. As BC Tech celebrates the 30th Anniversary of the Technology Impact Awards, this year’s awards celebrates 30 years of innovation in BC.
