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Will a bank ever ask you to verify your birthday and social security number? No! A banking quiz seeks to help customers outsmart scammers.

Think you could spot a banking scam? Don’t be so sure.

Many people are falling for fake phone calls, texts, and emails that appear to come from their bank. Thousands of bank customers have lost millions of dollars to banking scams, so now the nation’s banks are rolling out a new tool to help you spot a scam.

Questions like “did you get good grades in school?” or “have a professional job?” are examples of tricks bank customers have fallen prey to.

“I got a phone call from my bank, and I knew it was my bank because I recognized their phone number,” victim Sarah Robb said.

However, it wasn’t really her bank. It was a scammer who drained Sarah’s checking account within minutes.

In recent

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a group of people sitting at a table


© Provided by Quartz


A major hack that compromised Uganda’s mobile money network has plunged the country’s telecoms and banking sectors into crisis.

The Oct. 3 hack was a result of a security breach on a consumer finance aggregator, Pegasus Technologies, which mainly affected bank to mobile wallet transfers, according to an Oct. 8 statement by MTN Uganda, the country’s largest mobile phone company. Kampala-based Pegasus Technologies provides financial and billing solutions for various companies including all the affected entities.

At least $3.2 million is estimated to have been stolen in this latest incident with some reports quoting a much higher figure. The hackers used around 2,000 mobile SIM cards to gain access to the mobile money payment system, according to local papers. They then instructed the banks to transfer millions of dollars to telecommunication companies who then paid out mobile money to these different SIM cards across the country.

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Michael Gorriz

Courtesy of Standard Chartered

From sourcing 2,000 laptops for computer-less staff to boosting remote working capacity 20-fold, Michael Gorriz spent the year at the center of a global bank’s scramble to cope with an office-emptying pandemic.

Standard Chartered Plc’s chief information officer had a ringside seat for the start of the crisis. While his bank is headquartered in London, the German-born Gorriz works from Singapore — a five-hour flight to Wuhan, the Chinese epicenter of the coronavirus outbreak. StanChart’s branch in Wuhan was locked down, giving an early inkling of what life under Covid-19 might be like.

The pandemic drove thousands of older customers online for the first time, stress-testing technology for a company that’s bet heavily on digital banking. The Wuhan outbreak also gave Gorriz a unique perspective on enabling working from home at a time when the crisis still seemed remote in

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Press release content from Newswire. The AP news staff was not involved in its creation.

NEW YORK – October 3, 2020 – ( Newswire.com )

​Consumer Bank Report, LLC has released the first-ever public compendium of consumer banks in the United States, empowering consumers to discover the best banking options in their area.

Consumers have historically had a difficult time finding the differences between their local banks. With free access to Consumer Bank Report, this all changes. With access to over 10,000 unique brands, consumers now have the option to find a bank that best fits their unique situation.

Nancy Dulph, a 30-year-old mother in Orange, New Jersey, found her ideal bank using consumerbankreport.com, “I’ve always used Bank Of America, but due to their high fees for almost anything that can happen, I was forced to give up my bank account that I had since

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BUDAPEST (Reuters) – Some Hungarian banking and telecommunication services were briefly disrupted by a powerful cyber attack on Thursday launched from computer servers in Russia, China and Vietnam, telecoms firm Magyar Telekom

said on Saturday.

The event was a distributed-denial-of-service (DDoS) attack, a cyber attack in which hackers attempt to flood a network with unusually high volumes of data traffic in order to paralyse it.

The volume of data traffic in the attack was 10 times higher than the amount usually seen in DDoS events, the company said.

“That means that this was one of the biggest hacker attacks in Hungary ever, both in its size and complexity,” it said.

“Russian, Chinese and Vietnamese hackers tried to launch a DDoS attack against Hungarian financial institutions, but they tried to overwhelm the networks of Magyar Telekom as well,” the company added in a statement.

The attack, which took place in several

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