So far, police have not found evidence that a major organized hacking group was responsible for the Cosmos Bank heist, which involved the theft of $13.5 million through ATMs and unauthorized SWIFT transactions. What steps should banks take to avoid becoming the next cyber heist victim?
A cryptocurrency investor is suing AT&T for $240 million, alleging he lost $24 million in virtual currency after the carrier failed to stop two separate attacks where his phone number was commandeered by attackers. The incident highlights the dangers of using a phone number as an authentication channel.
Financial fraud can be notoriously hard to detect and easy to cover up. But does blockchain technology with its distributed digital ledger now offer a new tool to help organizations reduce risk and prevent fraud? Which key business and technical factors will help blockchain scale for the large enterprise? Attend this...
For years now, leading-edge security thought leaders have called for organizations to shift from a conventional "peacetime" view of cybersecurity to more of a wartime mindset - acknowledging and responding to the aggressive tactics of global adversaries. It is time, then, for enterprises to shift from conventional to...
We are facing an inflection point in the world of cyber-attacks. Mega-attacks have spread fast to almost every country and every industry possible - from banking, transportation to healthcare to production lines. Regardless of all our current investments in cyber security, the majority of enterprises have experienced...
Cyber criminals are reaping the benefits of business email compromise and CEO fraud scams, which is a $12 billion industry, according to the FBI by impersonating an executive in your organization, asking for financial reports or by asking payroll staff to make changes to bank accounts.
Invoice and payroll fraud,...
An analysis of the privacy issues Amazon will face as it dives deeper into the healthcare business leads the latest edition of the ISMG Security Report. Also featured: A preview of ISMG's Security Summit in New York Aug. 14-15.
The FIN7 cybercrime gang regularly phoned victims, posing as buyers, to trick victims into opening phishing emails and attachments with malware, federal prosecutors allege. The group's success - 15 million stolen payment cards and counting - is one measure of how difficult these types of attacks are to block.
Russian national Mikhail Malykhin, who was illegally residing in the U.S., has received a 70-month prison sentence after admitting to hack attacks and conspiring to use fraudulent debit cards issued via a hacked healthcare benefits administrator.
In the wake of so many mega-breaches, new account fraud is easier to perpetrate than account takeovers. This puts new pressure on enterprises to know their digital customers, as well as to authenticate their identities and activities, says Shaked Vax of IBM Security.
To stop fraudsters, iovation's John Marsden wants organizations not just to ask customers to verify their personal details. He also wants organizations to take a good, hard look at the devices that alleged customers are using.