Financial Fraud
Latest news, explainers and analysis on Financial Fraud. Tracking 4 stories on Arth Vani.
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Latest on Financial Fraud
Ransomware Attack Strikes US Core Banking Tech Provider Jack Henry
US core banking technology vendor Jack Henry has reportedly been targeted by a ransomware attack. The incident impacts a company that provides critical software infrastructure to numerous financial institutions. This development highlights the escalating cybersecurity threats faced by the global financial sector.
BreakingOver Half of UK Individuals Lost Money Following Social Media Financial Advice: Survey
A TSB survey reported by Finextra reveals that over half of British individuals who acted on financial advice found on social media ended up losing money. This highlights the significant risks associated with unregulated financial recommendations shared on online platforms.
BreakingBeware: Agents May Misuse Health Insurance Portability for Personal Gain
While health insurance portability allows you to switch insurers and retain crucial benefits like waiting periods and no-claim bonuses, consumers must be cautious. Issues are emerging where insurance agents are reportedly misusing this process, often for their own profit, potentially at the policyholder's expense.
New LaunchBreakingBanks Propose 'Yes-No' Prompts for High-Risk UPI Transfers to Combat Fraud
Indian banks have proposed introducing a 'Yes-No' prompt for suspicious UPI transactions to enhance security against digital payment frauds. The Reserve Bank of India (RBI) is currently evaluating these suggestions as part of developing new guidelines to protect users while maintaining payment convenience.
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