The Wells Fargo bogus account problem is about 70 percent worse than the bank originally declared in 2016. Last September, federal regulators revealed that Wells Fargo had created about 2 million unauthorized bank and credit card accounts that customers weren’t even aware of. The findings came from a consulting firm…
Since Wells Fargo’s practice of opening bogus accounts in customers’ names was first exposed, reports of the boiler room-like sales culture that led to the scheme have leaked out of the bank. In recent weeks, that trickle has turned into a flood as more and more bankers have come forward, including one former employee…
On Thursday, federal regulators announced that they were slapping Wells Fargo with a $100 million penalty after discovering employees created hundreds of thousands of bank accounts and credit cards in customers’ names without their knowledge, costing account holders an estimated $2.5 million in fees.
Security researchers have identified “strong links” between recent Swift bank attacks, one of which was foiled by a typo, and the Sony Pictures hacks of 2014.
Most spelling mistakes are innocent, fleeting, and only mildly embarrassing. Then there are the ones that result in a loss of over $800 million during a bank heist. Those ones suck.
Target is paying $39.4 million to banks and credit unions that lost money reimbursing fraudulent claims and otherwise cleaning up the mess made by the 2013 hack affecting 40 million customers. The big-box retailer already agreed to pay $10 million to customers affected by the data breach.
We’re trusting robots with more and more these days: Our luggage, our meals—even our lives on the road. Why not add finances to the list? Bank of America is joining several other banks that want to do just that.
Samsung Pay will soon start working with bank cards from: Chase, PNC Bank, TD Bank, SunTrust, Fifth Third Bank, Key Bank, Silicon Valley Bank, Security Service Federal Credit Union, Navy Federal Credit Union, Virginia Credit Union, Associated Bank, Randolph Brooks Federal Credit Union and People’s United Bank. Phew.
Mobile payments are all the rage right now! There’s the contactless magic of Apple and Android Pay, Samsung’s awesomely cool magnetic thing, and Chase’s system that lets you use a Chase card in a Chase-approved store, by simple scanning a QR code. Wait, what?
Your goals might not be as ambitious as Thanos’ were when he collected all six of the Infinity Gems for his infamous Gauntlet. But who’s to say that saving your loose change for a pizza delivery one day isn’t as important to you as conquering the universe was to Thanos?
Kurz Gesagt's latest video explainer points his easily understood animation gun towards the evilness of banks and how they've transformed over time from a simple idea (helping people trade goods) into what they are now (big behemoth bullies who make money for themselves). It's not all bad though, Gesagt also shows how…
In what may be one of the biggest bank heists to date, hackers have apparently siphoned hundreds of millions of dollars from over 100 banks in 30 nations. And according to the upcoming Kaspersky Lab report, this could be "the most sophisticated attack the world has seen to date."
A slew of 30,000 leaked Swiss HSBC bank account details—what the Guardian calls the "biggest banking leak in history"—lays bare the practices of the organization and its customers. And it doesn't look pretty.
When I log into Gmail, the system texts me a one-time key which I use to verify that it’s me trying to get in and not some jerk who got my login info from a password dump. You’d think my bank would have the same level of protection to make sure bad guys can’t get a good whiff of my money. Nope.
In a non-public report, the Department of Treasury revealed that an increasing number of hackers are using the Tor network to maintain their anonymity. Surprise surprise! After all,Tor is one of the biggest online anonymity services. So the government is suggesting (again) that blocking Tor would keep hackers away,…
People don't talk about it quite as much as they did in 2008, but big banks are the worst. Aside from the fact that they're full of crooks, big banks provide terrible customer service, charge obscene fees, and profit from your misery. You should probably stop giving them your money now.
A nifty new payment system is not without its quirks. A few early adopters who used Apple Pay to stock up on Halloween candy ended up getting charged two times per transaction. For now, however, it only seems to be those who used Bank of America debit cards.
Earlier this month, approximate 76 million households—or roughly half of the households in America—were unhappy to hear their JPMorgan Chase accounts had been compromised. Those 76 million households will be equally unhappy to learn that the hackers who broke in were wandering around the bank's servers for two months.…
Earlier this month it came to light that ATM malware was being used to extort large quantities of cash from banks. Now, Krebs on Security reports that such techniques are on the rise—and here to stay, too.
Ahead of the official launch, which is expected later this week, 9to5mac has unearthed screenshots and training materials for Apple Pay which show how it will (probably, perhaps) work.
