November 3, 2019

NCR Barred Mint, QuickBooks from Banking Platform During Account Takeover Storm

This post was originally published on this siteBanking industry giant NCR Corp. [NYSE: NCR] late last month took the unusual step of temporarily blocking third-party financial data aggregators Mint and QuicBooks Online from accessing Digital Insight, an online banking platform used by hundreds of financial institutions. That ban, which came in response to a series of bank account takeovers in which cybercriminals used aggregation sites to surveil and drain consumer accounts, has since been rescinded. But the incident raises fresh questions about the proper role of digital banking platforms in fighting password abuse. Part of a communication NCR sent Oct. 25 […]
April 10, 2020

New IRS Site Could Make it Easy for Thieves to Intercept Some Stimulus Payments

This post was originally published on this siteThe U.S. federal government is now in the process of sending Economic Impact Payments by direct deposit to millions of Americans. Most who are eligible for payments can expect to have funds direct-deposited into the same bank accounts listed on previous years’ tax filings sometime next week. Today, the Internal Revenue Service (IRS) stood up a site to collect bank account information from the many Americans who don’t usually file a tax return. The question is, will those non-filers have a chance to claim their payments before fraudsters do? The IRS says the […]
July 1, 2021

Intuit to Share Payroll Data from 1.4M Small Businesses With Equifax

This post was originally published on this siteFinancial services giant Intuit this week informed 1.4 million small businesses using its QuickBooks Online Payroll and Intuit Online Payroll products that their payroll information will be shared with big-three consumer credit bureau Equifax starting later this year unless customers opt out by the end of this month. Intuit says the change is tied to an “exciting” and “free” new service that will let millions of small business employees get easy access to employment and income verification services when they wish to apply for a loan or line of credit. “In early fall […]