Invisible to many is the fact that check fraud is growing despite decreasing item volume. Accounting for more than half of the $2 billion in deposit account fraud losses that U.S. banks suffered in 2008, check fraud presents a relatively easy attack vector for increasingly sophisticated and well organized...
Amidst an ongoing international crackdown on criminals perpetrating ACH and wire fraud, FBI agent Russ Brown has advice for how banking institutions can help foil these crimes.
How should the United States respond as global competitors expand their influence over the Internet and build cyber capabilities? An analysis of the Internet in 2020 shows that the United States must develop a strategy that focuses on more than technology to retain its cyberpower status. Read this white paper and...
The Avalanche crime group, the world's most prolific phishing gang, has moved from using conventional phishing to solely propagating Zeus, the most famous and stealthy password-stealing malware, say security researchers in a new report.
Good start, but we've still got a long way to go. This statement sums up industry experts' reactions to the two cyber fraud advisories issued this week to help organizations prevent ACH fraud and other crimes.
Two weeks after authorities on two continents arrested cyber criminals linked to the Zeus malware, Microsoft has added the infamous Trojan's signature to one of its best removal tools in an effort to hunt down infected machines.
If passed, Sen. Charles Schumer's proposed amendment to Regulation E could do more harm than good, says Doug Johnson of the American Bankers Association.
In response to the ongoing threat of ACH/wire fraud, Sen. Charles Schumer, D-N.Y., has introduced a proposed amendment to Regulation E that would give municipalities and school districts the same level of protection as consumers.
Determining whether returning customers are genuine or imposters can no longer rely upon just Positive Identity Verification solutions. Fraudsters simply use stolen identities, hidden proxies, botnets and scripted attacks to evade discovery. Today, there is a new generation of Negative Identity Verification solutions...
With all the publicity these fraud incidents have received this year - all the warnings from regulators and institutions alike - I cannot believe awareness is so low.
Anne Wallace, president of the Identity Theft Assistance Center, says financial institutions must implement best practices to protect their customers' identities.
The Catholic Diocese of Des Moines, Iowa, fell victim to a $600,000 ACH fraud theft and becomes another in the growing list of businesses and entities that have suffered huge losses as a result of these crimes.
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