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According to a report from the BBC, the US Justice Department and FBI have revealed that millions of Americans' online accounts have been ensnared in what they describe as a "sinister" Chinese hacking scheme that specifically targeted US officials. The operation, which spanned 14 years, has led to charges against seven Chinese nationals accused of orchestrating the cyber-attack campaign.

Cybersecurity experts and insurance professionals are issuing warnings about the escalating utilization of artificial intelligence (AI) tools by cybercriminals and nation-state cyber operators.

Source: Cashfree Payments

Cashfree Payments, India's leading payments and API banking company, announced the launch of ‘RiskShield’, India’s first real-time risk management solution for payment gateways. It aims at reducing fraudulent activities upto 40%.

Source: Sumsub

Sumsub, a leading global full-cycle verification platform, commits to tackling the alarming surge of fraud networks in Asia-Pacific (APAC) by launching its upgraded Fraud Prevention Solution. In addition to fraud networks, the upgraded solution will also help businesses address other pertinent fraud issues such as account takeovers, chargeback fraud, bot attacks and more.

Source: FIS

Global financial technology leader FIS (NYSE: FIS) has today announced that its SecurLOCK card fraud management solution is poised to deliver an increase in accurately identified and prevented fraudulent card transactions utilizing a new collaboration with FIS Fintech Accelerator alumnus Stratyfy.

Klarna, the Swedish fintech giant, has been ordered to pay a hefty fine of nearly three-quarters of a million dollars for breaching the European Union's General Data Protection Regulation (GDPR), according to a recent ruling by a Swedish court of appeal.

The Biden administration's latest fiscal blueprint, unveiled on Monday, doesn't present significant increases in cybersecurity funding, marking a departure from expectations within the cybersecurity community.

Source: FS-Isac

FS-ISAC, the member-driven, not-for-profit organisation that advances cybersecurity and resilience in the global financial system, and Akamai Technologies, Inc. (NASDAQ: AKAM), the cloud company that powers and protects life online, released new research on the surge of distributed denial-of-service (DDoS) attacks threatening the financial services sector and its customers.

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