Over a three-month period in 2015, a single cybercrime gang managed to earn at least $330,000 in bitcoins thanks to an estimated 670 victims paying attackers to decrypt ransomware-infected systems. Should police be doing more to stop these attacks?
The banking malware known as Carbanak continues to evolve, and cybercriminals are now using it to wage APT-style attacks against banks as well as companies in other sectors, according to security researchers at Kaspersky Lab.
Who is responsible for fraud losses resulting from business email compromise? Texas-based AFGlobal Corp. is suing its insurance firm to settle this question. Experts weigh in on the lawsuit and why cyber insurance rarely covers losses from these scams.
The rise in RFID-based contactless payment cards has led to increased concerns that fraudsters could wirelessly crack cards' secret cryptographic keys. But a team of MIT researchers has debuted defenses against such hack attacks.
The arrests of seven men allegedly linked to a skimming operation that targeted ATMs at retailers, including hotels and gas stations, is yet another indicator that U.S. merchants need to beef up the security of these devices.
A new breach of customer accounts at luxury retailer Neiman Marcus is, once again, putting the spotlight on the vulnerabilities created by relying only on usernames and passwords for online authentication, and the risks posed by storing customer information.
Landry's Inc. now reveals the broad scope of point-of-service malware attacks against its restaurants and other properties dating back to 2014 and 2015. Experts discuss factors that could have contributed to the breaches.
Who's responsible for the 12 percent uptick in financial fraud losses absorbed by U.S. banks? The American Bankers Association points to retail breaches. But one observer thinks "the ABA has its head in the sand." Read other reactions to the ABA's fraud report.
Sometimes language barriers can be a good thing: Many malware-wielding cybercriminals have historically targeted users in North America and Europe over Japan, owing to linguistic challenges. But that's changing.
Retailers have been at the center of high-profile breaches and an ongoing debate with banking institutions. But Brian Engle of the Retail Cyber Intelligence Sharing Center says cross-industry collaboration is helping retailers improve cybersecurity.
Financial losses tied to fraud against bank accounts increased about 12 percent from 2012 to 2014, but banks are not to blame. To the contrary, the ABA argues that banks are actually making significant strides in their fraud prevention efforts.
As 2016 begins, financial institutions find themselves at a fateful crossroads. They continue to see the impact of retail payments breaches, such as those that struck Target, Home Depot and other merchants.
This fresh research looks at:
Retail breach impact and emerging payments;
The latest fraud trends...
New security technologies don't keep fraudsters from stealing money; they just cause them to shift to new methods, says Jodi Selby of Bankers Trust. In this video interview, she offers a case study on how to best respond to evolving fraud schemes.
Sophisticated phishing campaigns, increasingly targeted because of social media, are fueling business email compromises - a growing wire fraud scheme that is attacking businesses worldwide, says Jim Hansen of PhishMe.