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Brazil Loses $148 Million To Hackers in Less Than Three Hours

In Brazil, hackers have gained access to funds worth BRL 800 million ($148 million), held in accounts at the Banco Central do Brasil (BCB). They achieved this by exploiting the valid credentials of an employee associated with the BCB’s instant payment network Pix. The implications and consequences of this incident have led to doubts about the cybersecurity of Brazil’s financial system.

Payments - September 25, 2025 midnight

Fraud and Who Should Pay

UK Finance recently published its Annual Fraud Report. It describes in detail what is happening and changes in fraud. Although it does not say how those costs are then passed on to the consumer, it will undoubtedly be the consumer who ultimately pays. Understanding fraud is, therefore, important.

Crime - July 24, 2025 midnight

Crime Round-Up

Although a snapshot of cash related crimes taken from media reports, they are a reminder of the risks of cash related crime used to justify less cash. In January Cash & Payment News™ reported that for the first time ever no bank branch in Denmark had experienced an attack, since they no longer handle cash.

Crime - April 24, 2023 midnight

Crime Round-Up

Although a snap shot of cash related crimes taken from media reports, they are a reminder of the risks of cash related crime used to justify less cash.

Crime - March 24, 2023 midnight

Risk from Cryptocurrencies Increases

The US Securities and Exchange Commission (SEC) has approved the ProShares Bitcoin futures Exchange Traded Fund (ETF) application, the first cryptocurrency the US financial markets regulator has approved.

Crime - November 4, 2021 midnight

More Payment Vulnerability Than You Might Think

One-time passwords (OTP) are a central part of payment security. It is a concern, therefore, to read about hackers hijacking OTPs sent via SMS by Singapore banks to their customers, resulting in fraudulent credit card transaction worth S$500,000, as recently reported by the Monetary Authority of Singapore.

Crime - November 3, 2021 midnight

Financial Crime is Not Victimless

Financial crime, particularly digital financial crime, can feel victimless. The losses are factored into the fees and charges which are passed on in higher prices and the press seldom focus on the distress and stress caused to individuals faced with criminal activity.

Crime - July 26, 2021 midnight

Challenges of Electronic Payments

In the last week there have been a number of payment related stories. What links them all is that they demonstrate that electronic payments face a range of challenges that have a direct impact on customers. The role of the regulator is evident in all of them whether requiring action or ‘guiding’ providers to take action.

News - June 22, 2021 midnight