BofA fined $225 mn for ‘botching’ COVID aid payments

Two U.S. agencies fined Bank of America a total of $225 million on charges it wrongfully froze unemployment and other public benefit programs at the height of the COVID-19 pandemic.    

The Consumer Financial Protection Bureau imposed a $100 million penalty on Bank of America (BofA) for "botching" the disbursement of state unemployment programs during COVID-19, the agency said.    

Online reservation fraud costs tourism industry millions

Online reservation fraud has cost the tourism industry at least $2 million in nine months, said a cyber security expert.

"People turned to online shopping after the pandemic broke out, buying goods on e-commerce platforms. The technically e-commerce platforms were not fully ready for this and some of them fell victim to data theft," said Serhat Özdemir.