Federal prosecutors in New Jersey on Tuesday charged three men in a $2 million identity theft scheme to hack corporate computer systems and blast spam messages to more than 60 million people. The defendants face up to 20 years in prison and $250,000 in fines on wire fraud charges, and up to five years in prison and $250,000 in fine...
Apple reportedly is in negotiations with several major banks to launch a peer-to-peer mobile payment system that would compete against rival digital payment companies, including PayPal and Square. Apple is working on a plan that would allow consumers to transfer funds directly from their checking ac...
Google is rolling out Android Pay, its answer to Apple Pay. Android Pay allows shoppers to make purchases at more than a million retail locations across the U.S. It also stores gift cards and loyalty cards, and provides special offers directly to a user's mobile device. Android Pay is compatible wit...
Mortgage servicers got a bad name during the subprime mortgage crisis, but despite that reputation damage, and despite new laws designed to get them on the straight and narrow, they're still up to their tricks, the Consumer Financial Protection Bureau has found. Between January and April, many servi...
Apple's unveiling last week of its Apple Pay NFC mobile payments system has triggered a clash between banks and the retail industry. Apple has lined up support from banks and credit card companies, but Best Buy and Walmart have said they will not support Apple Pay, according to reports. Instead, the...
The OpenStack project continues to be something of a lightning rod and also something of a dichotomy in the industry. On one hand, it has drawn the involvement of hundreds of supporting vendors and more than 17,000 individual members. It ranks highly among priorities, particularly for private clouds...
Consumers seem to be softening their hate-hate relationship with the banking industry, according to a new report released Tuesday by the American Customer Satisfaction Index. In fact, customer satisfaction with financial services in general -- a category that includes banks, credit unions, health in...
By duping an Internet innocent into making just one errant click, an online bandit can inflict a world of hurt. Socially engineered malware attacks attempt to deceive a user into downloading malicious software, typically through a link to an infected website. Since browsers play a key role in many S...
A cyberdrill for financial services companies that was originally to be conducted on June 28 has drawn such a strong response that the organization sponsoring it has had to reschedule the event. "Given the industry's robust interest in this program and the expanding number of individuals who wish to...
Hackers are actively attacking some of the largest banks in the nation, U.S. Homeland Security Secretary Janet Napolitano warned this week. Napolitano declined to go into detail about the types of breaches or what kind of information -- if any -- had been taken. She brought up her concern about atta...
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