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Big Banks Will Vie For Your Attention With Cardless ATMs and VR

tedlistens writes In the year that bitcoin began to grow up and Apple Pay was born—and massive cyberattacks—the country’s largest financial institutions want you to imagine themselves as incubators. Three of the big banks opened up innovation labs to imagine what’s next in mobile banking; some are starting their own accelerators. Meanwhile, the latest research estimates that U.S. mobile payments, currently at $3.7 billion, will grow to $142 billion within five years. Now an industry not exactly known for speed is approaching 2015 with an ethos that sounds more Silicon Valley than Wall Street, touting visions of fridges that shop for you, Google Glass and Oculus Rifts, and the kind of futuristic security they hope will inspire consumers to trust them and their technology in the first place. I like that both a local book shop, and the coffeehouse nearest my house, have bitcoin kiosks.

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Cable-free elevator moves you in any direction

Elevators are absolutely vital in tall buildings, but they have their limits — they can only move so quickly, and they can’t usually move sideways to fetch you from the far side of a building. Both of those problems should be solved at once if Germa…

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Skimmer Innovation: ‘Wiretapping’ ATMs

Banks in Europe are warning about the emergence of a rare form of ATM skimmer involving a wire-like device that is inserted through a tiny hole cut in the cash machine’s front. The hole is covered up by a fake decal, and the thieves somehow attach the device to the place inside the ATM where the customer’s card is inserted.

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Court Shuts Down Alleged $120M Tech Support Scam

wiredmikey writes A federal court has temporarily shut down and frozen the assets of two telemarketing operations accused by the FTC of scamming customers out of more than $120 million by deceptively marketing computer software and tech support services. According to complaints filed by the FTC, since at least 2012, the defendants used software designed to trick consumers into believing there were problems with their computers and then hit them with sales pitches for tech support products and services to fix their machines. According to the FTC, the scams began with computer software that claimed to improve the security or performance of the customer’s computer. Typically, consumers downloaded a free, trial version of the software that would run a computer system scan. The scan always identified numerous errors, whether they existed or not. Consumers were then told that in order to fix the problems they had to purchase the paid version of the software for between $29 and $49. In order to activate the software after the purchase, consumers were then directed to call a toll-free number and connected to telemarketers who tried to sell them unneeded computer repair services and software, according to the FTC complaint. The services could cost as much as $500, the FTC stated.

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Hackers tried to hold a Detroit city database hostage

Online criminals aren’t just trying to extract ransoms from unsuspecting individuals; they’re targeting whole cities, too. Detroit Mayor Mike Duggan has revealed that hackers tried to hold a city database hostage in April, demanding 2,000 Bitcoins…

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