Given the recent failures of Signature Bank and Silicon Valley Bank, we know clients are looking to set up new banking relationships and moving money around, especially by wire transfers. It will not come as a surprise that bad guys see this as an opportunity to prey on folks who are trying to access funds needed to make payroll or other basic business expenses. This is just what the criminal “man in the middle” attacker wants – a time when businesses have let down their guard and hackers can induce fraudulent wire transfer. … More
Tag Archives: fraud
New Law Provides Free Credit Freezes and Year-Long Fraud Alerts
As summarized nicely in the FTC FAQs below, there is a new law, the Economic Growth, Regulatory Relief, and Consumer Protection Act, that makes credit freezes free and extends fraud alerts to last a full year. Here are some of the most common questions raised about this new law, and the FTC’s answers:
Q: I already had a credit freeze in place when the new law took effect on September 21,… More
Recent Massachusetts Supreme Judicial Court Case Starts a Wave of Lawsuits Against Retailers for Collecting Customer ZIP Codes
In a recent decision, the Massachusetts Supreme Judicial Court (SJC) determined that customer ZIP Codes are “personal identification information” that retailers are prohibited from collecting during credit card transactions. With this decision, the Massachusetts high court may have set off a wave of new class-action lawsuits against retailers that collected customer ZIP Codes. Especially vulnerable are those retailers that collected customer ZIP Codes and used them to send unwanted marketing materials or sold the ZIP Codes or information derived from them to third parties. … More