The FBI estimates fraud losses linked to so-called business email compromise scams worldwide have exceeded $1.2 billion in less than a year. But some financial fraud experts say the losses from this largely overlooked threat could be even higher.
The FBI has arrested a former manager at Machine Zone, which makes the multiplayer "Game of War: Fire Age," over allegations that he attempted to bargain sensitive corporate information for a better severance package.
Although EMV is a far more secure payments technology, it can be exploited for fraud if it's improperly implemented, warns Gartner analyst Avivah Litan. What security lessons must be learned from past EMV deployments?
Three years after hacktivists targeted U.S. banks with a series of DDoS attacks, the size and magnitude of attacks continue to grow, but they're now more likely to be designed to facilitate fraud. Here's an update on the status of banks' mitigation strategies.
Extortionists and "free agent" rogue insiders have emerged as the top two most malicious cybercrime threats to banking institutions, says Gartner's Avivah Litan. How should institutions bolster their defenses?
A migration of fraud to the card-not-present environment is expected in the wake of EMV. But Fiserv's Manuel Da Silva says banks also have to be worried about fraud upticks in other areas, which are already emerging. He explains how analytics can help institutions mitigate risks.
After Target's $67 million settlement with Visa to reimburse banks for expenses related to the retailer's 2013 breach, MasterCard confirms it is weighing a new deal. Will settlements derail a pending lawsuit against the retail giant?
Instead of hacking into trading platforms, prosecutors say a gang stole confidential press releases, enabling traders to illegally earn $100 million. Security experts say it's time to review the "information supply chain."
In June 2012, restaurant chain Penn Station was among the first retailers hit by a POS breach linked to malware. Here, in an exclusive interview, President Craig Dunaway discusses the lasting impact of the breach.
The U.S. Department of Justice has announced charges against nine people suspected of running an international insider-trading and hacking scheme predicated on stealing confidential press releases before publication.
A $46.7 million fraud scheme that hit Ubiquiti Networks Inc. shows the new & improved face of wire fraud - and just how easy it is for cybercriminals to fool employees into helping to pilfer their own enterprises.
Carphone Warehouse, a U.K.-based mobile phone retailer, is investigating a cyber-attack that may have breached personal information associated with up to 2.4 million customers, and card data linked to 90,000 accounts.
Neiman Marcus has asked a federal court to reconsider its decision to allow a consumer class-action suit to go to trial. If the retailer fails, legal experts say, it could mean a costly setback for breached entities.
For industries with a full-time focus on fighting fraud - such as banking, insurance and healthcare, among others - intelligence is invaluable. Although direct financial losses from fraud can vary significantly from one industry to another or in different parts of the world, the annual cost of fraud is substantial...