tldrdaily.news logo
Tag

Banking Security

All articles tagged with #banking security

technology2 months ago

Android Malware Steals Card Details and Drains Bank Accounts

A new Android malware called NGate has been discovered that can steal debit card details and PINs via NFC technology, allowing hackers to make ATM withdrawals without physical card theft. The malware is spread through social engineering tactics like phishing and fake apps, emphasizing the importance of downloading apps only from trusted sources and being cautious with personal information. Protecting devices with antivirus software and staying vigilant against scams are crucial to prevent such attacks.

via Tom's Guide|
#android-malware#banking-security#cybersecurity
finance2 years ago

"Mitigating Check Fraud: A 2024 Resolution to Stop Using Paper Checks"

Despite the decline in check usage, check fraud is on the rise, costing financial institutions billions. Tips for writing checks safely include using gel pens, keeping a separate account for check writing, and mailing checks securely. Banks offer various protections, such as flagging unusual checks and secure online bill-payment services. Person-to-person payment platforms like Zelle and Venmo are convenient but come with risks, so users should transact with caution and verify recipients' identities.

via Yahoo News|
#banking-security#check-fraud#digital-payments
finance2 years ago

The Growing Threat of Check Fraud: Thieves' Advantage

The decline in check usage has not deterred fraudsters, who have increasingly turned to check fraud, costing financial institutions billions. Criminals leverage technology and social media to commit fraud on a grand scale, using stolen checks purchased online and altering them with basic tools like nail polish remover. The surge in mail theft during the pandemic has further fueled check fraud. Banks and credit unions are expected to file a record number of suspicious activity reports tied to check fraud this year. However, anti-fraud measures by banks can sometimes misfire, freezing or shutting down innocent customers' accounts. The complex nature of check fraud investigations and the lack of communication between banks make it difficult to determine liability and resolve cases promptly, leaving victims frustrated. Despite the risks, check usage remains popular among consumers for certain transactions.

via Yahoo News|
#banking-security#check-fraud#finance
finance2 years ago

The Growing Threat of Check Fraud and Mail Theft

Paper check fraud is on the rise, with a notable increase in the number of check fraud claims filed by customers in recent years. Criminals are using various scams to access checking account information, even without physical checks. The U.S. Treasury's investigative arm reported a doubling of check fraud cases over the past three years. Compared to digital payment methods, paper checks lack the same level of security enhancements. Scammers acquire checks through theft, phishing scams, or by obtaining customer credentials to create counterfeit checks. To protect yourself, use digital payments, use non-erasable ink when writing checks, mail checks at the post office, review your accounts regularly, and sign up for balance alerts and transaction notifications from your bank.

via Fox Business|
#banking-security#digital-payments#finance