[ad_1] A bank spokesperson said the company had since poured “significant” resources into bolstering its security and otherwise addressing orders from both the OCC and the Federal Reserve. The payout isn’t small, but it might not make many victims happy. The breach exposed sensitive details like addresses, reported income and (in some cases) account numbers […]
Category: banking
Ukraine catches hacker who tried to sell 773 million stolen email addresses
[ad_1] Today, the Security Service of Ukraine (SSU) announced that it has detained the hacker, known as Sanix, who caused a stir last year for trying to sell a database with 773 million email addresses and 21 million unique passwords. Officials say that 87-gigabyte database was only a fraction of the stolen data Sanix collected. […]
Samsung will introduce an ‘innovative’ debit card this summer
[ad_1] Samsung wants to do more with payments than offer a virtual prepaid card. The company plans to grow Samsung Pay this summer by introducing a new “experience” that includes an “innovative” debit card supported by a cash management account. Details are only slated to arrive in the “coming weeks,” but it’ll have help from […]
Google is reportedly working on a smart debit card
[ad_1] In a response to TechCrunch, a Google spokeperson didn’t directly acknowledge plans for the card and instead repeated the statement it issued on the banking leak in November, when it confirmed it was “exploring” partnerships for smart checking accounts in Google Pay. At the time, it mentioned that its “lead partners” were Citi and […]
Apple Card holders can defer April payments, too
[ad_1] The offer is in line with efforts by banks and other financial institutions to address the sudden surge of people who are out of work or otherwise taking a monetary hit due to the pandemic. Apple, Goldman Sachs and others are still expecting customers to pay eventually, but don’t want to risk financial ruin […]
Opera accused of offering predatory loans through Android apps
[ad_1] The conditions only got worse for borrowers who missed their payments. Falling short by just a day could raise the APR as high as 876 percent. Also, the apps reportedly scraped phone contacts to harass family, friends and others with calls and texts in hopes this would pressure customers into paying up. These same […]
Tech companies won’t become banks, but they’ll pretend to
[ad_1] You can’t escape stories of tech companies dipping their toes into banking. This year, Google revealed it’s working on a check-clearing platform for 2020, and Facebook relaunched its own payments platform. Apple launched a credit card in partnership with Goldman Sachs’ Marcus digital bank, too. As hardware sales and ad revenues dry up, these […]
Facebook releases Zuckerberg’s upcoming testimony in defense of Libra
[ad_1] According to Zuckerberg, Facebook is “committed to taking the time to get this right.” But he also points out that China could reveal a similar system in the coming months. “If America doesn’t innovate, our financial leadership is not guaranteed,” Zuckerberg’s prepared statement reads. Supposedly, Facebook isn’t just motivated by self-interest. “Over the long […]
Venezuela reportedly wants its central bank to hold bitcoin
[ad_1] The bank is likewise considering proposals to count cryptocurrencies toward international reserves that have plummeted in recent years. It’s not certain where Petroleos got the bitcoin and ethereum, let alone how much it has. There’s also no guarantee that companies would accept such a move when crypto’s relative anonymity and the potential for money […]
Central banks to question Facebook over Libra cryptocurrency
[ad_1] In response, Libra reiterated its earlier stance that it “welcome[s] this engagement” with politicians and regulators, and that it “deliberately” set out a long launch schedule to discuss issues and modify its plans based on feedback. The conversation might not go the way Facebook and the Libra team hope. Coeuré in particular has warned […]