Ransomware gangs are employing "customer service" agents to field victims' queries in an attempt to maximize their illicit profits, according to security firm F-Secure, which describes the encounters of someone posing as a victim.
The Global Cyber Alliance is taking on small projects to come up with solutions to big cyber risk problems. "It's essentially using a startup approach to a much bigger problem," CEO Phil Reitinger, who will keynote the upcoming ISMG New York Fraud and Breach Summit, says in this interview.
CEO fraud campaigns are becoming far more common. A recent attack against our company was deflected because of the alertness of a staff member who received a fraudulent wire transfer request, illustrating why well-informed employees truly are the best lines of defense against these schemes.
SentinelOne is taking a marketing gamble by offering to reimburse customers who suffer a ransomware infection if the security firm can't remediate affected systems. But let's take a close look at what's actually on offer.
Only 34 percent of surveyed security leaders say they have
high confidence in their organization's ability to detect and
prevent fraud before it results in serious business impact.
Among the reasons why they lack confidence:
Today's fraud schemes are too sophisticated and evolve too quickly (56 percent
An investigative report from Reuters paints a disturbing picture of the Federal Reserve Bank of New York using antiquated security practices to safeguard interbank SWIFT payments. Here's how security experts say interbank transaction security must be improved.
"Inertia and clumsiness" at the Federal Reserve Bank of New York nearly led to one of the biggest cyber-heists in history - resulting in $81 million being stolen from the central bank of Bangladesh - being even worse, according to a new report.
Cybercriminals are sneaking banking Trojans onto systems via the legitimate remote-access tool Ammyy Admin, researchers at Kaspersky Lab warn. The attacks are a reminder to watch for legitimate applications that may have been Trojanized.
The Federal Reserve's strategy for oversight of the U.S. migration toward faster payments won't change in the wake of the heists that exploited SWIFT payments, says Fed official Marianne Crowe. The long-term security of U.S. payments has always been a priority for the Fed's study of faster payments, she says.
Will the advent of faster payments in the U.S. open new doors for fraud? Business continuity and security are priorities for the Federal Reserve, says Marianne Crowe of the Boston Fed. But independent consultant Richard Party begs the question: Is the U.S. really ready?
In just two years' time, RSA analysts have seen a 170 percent rise in incidents of fraud via the mobile channel. What's behind the spike, and what can security leaders do to help their organizations and customers curb fraud losses?
All fraud hurts, but when compared to other instruments and transaction channels, nothing has the potential to hurt like check deposit fraud. Account take over is still a major problem in the banking industry, and with recent mass compromise events, the risk is on an upswing.
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Fraud, money laundering and other financial crimes are a thorn in the side of every financial institution. These activities can cut into profits, damage public trust and expose banks to massive regulatory penalties if found to be out of compliance with governmental regulations. Many organizations simply accept...
While many banks and merchants in Britain, France and Germany have long complied with the PCI Data Security Standard, deregulation has led organizations in other European countries to start taking PCI compliance more seriously and use it for competitive advantage.
If you're a fraudster, the tools required to initiate fraudulent transactions have never been more accessible. From well-established banking malware, such as Dyre, ZeuS and Kronos, to more recently discovered malware, such as Shifu and CoreBot, fraudsters have a host of advanced capabilities at their disposal to help...