In the latest incident, an attack targeted about 200 online campus stores in the U.S. and Canada, Trend Micro reports. But this attack apparently was waged by a new group.
German police have disrupted Wall Street Market and arrested its alleged administrators, who apparently "exit scammed" with $13 million in bitcoins, while U.S. authorities detained two of the site's alleged top narcotics vendors. Separately, Finnish police disrupted Silkkitie, aka Valhalla Marketplace.
Everett Stern, the whistleblower who called attention to HSBC's international money laundering activities, which ultimately resulted in a $1.9 billion fine, says the crackdown on financial fraud still has a long way to go. He'll be the keynoter at ISMG's Fraud and Breach Summit in Chicago on May 14.
Fraud, e-hustles and social engineering attacks continues to proliferate, the FBI's latest report into the state of internet crime confirms. But over the past year, a new FBI tactic for quickly stopping fraudulent wire transfers has notched notable successes.
How do machine learning, threat intelligence and advanced analytics blend together to form agile and accurate fraud prevention? Avner Gideoni of IBM Security's Trusteer division explains the concept of "laser-cut fraud prevention."
As financial fraud has evolved, so have the defensive tactics of major banking institutions. Citi's Jeffrey Dant, a former Secret Service agent, discusses Citi's Fraud Fusion Center - it's mission, challenges and early successes.
Fraud is a growing problem as more parts of our lives are being touched by digitization. Think of all the accounts in our lives, which are all susceptible to fraud. This can include credit card numbers, bank account numbers, an email address, a phone number, a home address, a user ID, prescriptions, loyalty rewards or...
This Valentine's Day, authorities are once again warning individuals to watch out for anyone perpetrating romance scams. The FTC says Americans lost $143 million to romance scams in 2017, while in the U.K., Action Fraud says reported romance scam losses in 2018 topped $64 million.
Banks need to work toward improving collaboration between their cybersecurity and fraud management departments to boost efforts to mitigate cyberthreats, say Scott Walters and Eric Reddel of the consultancy Booz Allen Hamilton.
Identity theft is the fastest growing crime in the US and accounts for half of all reported fraud in the UK, with 1 in 60 online transactions attempted globally being fraudulent.
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7 ways fraudsters are slipping through the net;
What to watch out for;
How to combat fraud...
The recent Black Hat Europe conference in London touched on topics ranging from combating "deep fake" videos and information security career challenges to hands-on lock-picking tutorials and the dearth of research proposals centered on deception technology.
Card-not-present fraud will cost retailers worldwide $130 billion between 2018 and 2023, a new report from Juniper Research predicts. Steffen Sorrell, author of the study, explains the reasons behind this growth projection and describes what can be done to improve the fight against fraud.
Will the newly introduced Data Care Act prove to be a viable U.S. equivalent to the EU's General Data Protection Regulation, or is it destined to fail? An analysis leads this edition of the ISMG Security Report, which also features reports on robotic process automation and Mastercard's "fusion center."