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Cybersecurity researchers have disclosed details of fraudulent activity targeting users across the Middle East and North Africa by employing various fraudulent Facebook accounts impersonating politicians, public figures, and trusted organizations
Advocate General urges rethink of PSD2 to speed compensation after scams Analysis One of the European Union's top legal advisors is trying to change how banks treat cybercrime victims – meaning they could enjoy greater financial protections sooner than expected.…
Also, Nike Sued Over Shutdown of NFT SubsidiaryThis week, KiloEX compensation after Oracle exploit, Nike sued over NFT shutdown, SEC dropped probe into PayPal PYUSD, Long Island man sentenced for crypto fraud, Americans lost billions to crypto scams, Loopscale exploiter agreed to return stolen funds and bank regulators softened stance on crypto.
Experts Say Consumers Gain Little as Implementation Challenges Loom for FrameworkAustralia's new scams framework bill sets the foundation for industry action but leaves consumers with limited protections. Experts warn that enforcement and reimbursement mechanisms are unclear, forcing victims to navigate a complex system with little guarantee of compensation.
3 Countries Taking Different Approaches to Accountability and Victim CompensationGovernments globally are intensifying anti-scam measures, introducing new guidelines to banks, telecom providers and other key sectors to bolster security controls and mitigate fraud risks for consumers and businesses. Some new frameworks threaten to levy stiff penalties for non-compliance.
Money transfer firm failed to crack down on scam agents