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February, 2019
Archive

321

Socure raises $30 million to combat identity fraud with machine learning

via VentureBeat

Identity fraud: It’s more common than you think. In 2017, 6.64 percent of consumers — or about 16.7 million people — fell victim to it, according to a report by research firm Javelin Strategy. (That’s up 1 million from 2016.) And in 2018 alone, over 2.6 billion records were stolen or exposed in more than 1,100 data breaches around the world.

That’s enough to give anyone the willies, but New York-based Socure hopes to put minds at ease with its cloud-based identity verification and fraud prevention solution. To accelerate its market expansion and grow its sales, marketing, research, and customer support teams, the startup has completed a $30 million series C funding round led by Scale Venture Partners, with participation from contributors Commerce Ventures, Flint Capital, Two Sigma Ventures, Synchrony, along with new investor Sorenson Capital.

(more…)

Fintech news, Security

February 28, 2019

107

Dow Jones’ watchlist of 2.4 million high-risk individuals has leaked

via TechCrunch

A watchlist of risky individuals and corporate entities owned by Dow Jones has been exposed, after a company with access to the database left it on a server without a password.

Bob Diachenko, an independent security researcher, found the Amazon Web Services-hosted Elasticsearch database exposing more than 2.4 million records of individuals or business entities.

The data, since secured, is the financial giant’s Watchlist database, which companies use as part of their risk and compliance efforts. Other financial companies, like Thomson Reuters, have their own databases of high-risk clients, politically exposed persons and terrorists — but have also been exposed over the years through separate security lapses. (more…)

news, Security

February 25, 2019

1866

European regulatory shows strong support for FinTech industry

The growth of the FinTech industry cannot be understated and it has the potential to become a major part of the European economy. Since 2008 it has expanded at a fantastic clip, providing more cost-effective services, innovative answers to problems effecting large numbers of consumers and business and surprising ways to use data and create new ideas and businesses. (more…)

Fintech news

February 7, 2019