Card-not-present fraud is rising as fraudsters inject malware into e-commerce websites to harvest account information, says Gord Jamieson of Visa. But the artificial intelligence models used to detect this fraud need to be refined to better mitigate this threat, he says.
FINRA, a private organization that helps self-regulate brokerage firms and exchange markets, is warning that fraudsters have recently started creating spoofed websites and domains using members' real names and images in an attempt to steal personal information and credentials.
To effectively combat online fraud, banks need to greatly enhance their customer authentication efforts, says Anis Ahmed, former head of corporate investigations at Abu Dhabi Islamic Bank.
The fight against fraud requires more than using the right technologies; it requires understanding threat actors' techniques, says Robert Villanueva of Q6 Cyber.
Reddit had a very "Make America Great Again" weekend, as more than 70 subreddits were temporarily hijacked and used to post "MAGA" messages in support of U.S. President Donald Trump. Attackers claim they used social engineering and password stuffing to compromise the accounts.
Are you prepared to detect and combat account takeover fraud (ATO) in real time? Adversaries have a variety of weapons at their disposal, which makes effective protection a challenge. To make matters worse, legacy anti-fraud solutions are falling short of accurately evaluating the risk.
With the right...
Chaos ensued when miscreants interrupted a virtual bail hearing on Wednesday for the suspected Twitter hacker, hijacking the feed with screams, chatter and, for a few brief seconds, pornography. The meeting details were public, and the meeting had not been password protected.
Suspects in the epic attack against Twitter were uncovered, in part, by the use of their real photo identification for cryptocurrency accounts they used to broker the sale of stolen usernames. The mistakes proved crucial to their identification, according to court documents.
The latest edition of the ISMG Security Report analyzes the hacking of Dave, a mobile banking app. Plus: Sizing up the impact of GDPR after two years of enforcement and an assessment of IIoT vulnerabilities.
Digital and mobile banking are under attack - and the threats are increasingly faster, more sophisticated, and automated. Fraud managers and analysts face a round-the-clock battle as they try to identify and stop fraud before customers are affected.
To help financial institutions manage the risks without shifting...
Suddenly, onboarding, servicing and securing digital accounts with advanced authentication techniques isn't just a priority for global enterprises; it is the priority. Dean Stevenson of HID Global previews an upcoming virtual roundtable discussion.
Mobile banking startup Dave is just the latest victim of criminal data brokers. Extensive evidence now points to Dave having been hit by a ShinyHunters, which has been tied to the sale of millions of stolen records to fraudsters - either via a phishing attack or hack of a third-party service provider.
The latest edition of the ISMG Security Report analyzes the hacking of high-profile Twitter accounts. Also featured: Addressing security when offices reopen; the role of personal protective equipment, or PPE, in money laundering during the pandemic.
From credit cards and deposit accounts to a wide range of lending products, cybercriminals spare no effort to turn a profit by exploiting weaknesses in the digital account opening process.
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Twitter says attackers who hijacked more than 130 high-profile Twitter accounts used social engineering to bypass its defenses, including two-factor authentication on accounts. Experts say companies must have defenses in place against such schemes, which have long been employed by fraudsters.
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