Payments
Cyber attack on payment systems could cost $3.5 trillion loss to the world
Have you ever contemplated the potential ramifications of a highly sophisticated cyberattack targeting global payment systems? Lloyds of London, a prominent provider of insurance services, has undertaken an analysis that suggests the world could face staggering losses of up to $3.5 trillion in the event of a global payment system outage resulting from a cyberattack. […]
VISA payments to become password free in the next Five years
VISA, an American Multinational Payment services corporation supporting the business of electronic funds transfer has stated that its payments will become password free in next five years- all thanks due to the innovation in authentication and anti-fraud technologies. “As financial institutions are sharing 10 times more data with each other these days, artificial intelligence technology […]
Wegmans sues Invermar for Cyber Attack
Wegmans Food Markets Inc. an American Supermarket Chain headquartered in New York has filed a lawsuit against Chilean Seafood Supplier, Invermar, for allowing hackers to pocket its payments through a cybersecurity flaw. Sources say that the Food retailer has sued the seafood supplier for $900,000 and is interested in adding more to the lawsuit when […]
