February 2025 – Page 33

PayPal Discloses 4.5 Million Accounts as ‘Illegitimate,’ Stock Prices Dive

During a discussion about Q4 earnings, PayPal CFO John Rainey revealed that 4.5 million accounts were closed due to “bad actors” exploiting incentives and rewards...

“Freedom!” Resonates as the Rallying Cry of Leading Sustainable Investment Advocates

Ceres Global 2023 is the annual event for the Boston-based non-profit organization that collaborates with leaders in the capital markets industry to advance sustainability. Despite...

ECB Alerts Banks to Potential Russian Cyberattack Threat

With the Ukraine crisis escalating, the European Central Bank (ECB) is engaging with financial institutions regarding the potential for cyberattacks allegedly sponsored by Russia, according...

United Fintech Segregates Cobalt into Distinct FX and Digital Asset Ventures

Following its recent acquisition by United Fintech, Cobalt is relaunching as CobaltFX and will be spinning off its digital asset business into a new venture...

Federal Reserve Introduces Toolkit for Banks to Tackle Synthetic Identity Fraud

US banks incurred $20 billion in losses due to synthetic identity fraud in 2020, according to new data from the Federal Reserve. To aid banks...

Sardine Secures $19.5 Million to Assist Fintechs in Combating Fraud

Sardine, a behavior-based fraud and compliance platform for fintechs developed by veterans from Coinbase, Revolut, and PayPal, has successfully raised $19.5 million in a Series...

More Wall Street Giants Support Versana’s Syndicated Loan Platform

Deutsche Bank, Morgan Stanley, US Bank, and Wells Fargo have become the latest supporters of Versana, participating in a $40 million capital raise for the...

OCBC Introduces Account Kill Switch Amid Rising Phishing Scam Threats

Following a surge in SMS phishing attacks, OCBC Bank has introduced a kill switch feature that allows customers to instantly freeze their current and savings...

LeapXpert Secures $22 Million for Financial Services Messaging Platform

Business communications vendor LeapXpert has successfully raised $22 million in a Series A+ funding round led by Rockefeller Asset Management through its Technology Ventures Group....

JPMorgan Leverages Quantum Network for Enhanced Blockchain Security

Researchers from JPMorgan Chase, Toshiba, and Ciena have developed a quantum key distribution (QKD) network designed to secure blockchain applications against potential quantum attacks. The...