Ukrainian cyber police raided and closed more than a dozen fraudulent call centers last week, saying the operations were running fake investment scams that involved stealing cryptocurrency and payment card details from European and Central Asian citizens.
Is your organization ready for the new PCI DSS 4.0 Standard? If you’re already compliant with the most recent version of the Payment Card Industry Data Security Standard (PCI DSS), you’ve probably already begun transitioning to version 4.0 ahead of the upcoming deadline. To help you make the journey easier and...
Discover 5 ways automated processes can drive revenue and growth across your bank.
Becoming a bank of the future must be done faster than ever before, and at scale. Today, digitization means banks need to drive revenue growth, improve experiences, and adopt a hyperautomated approach, and they need to do it...
The number of victims affected by a campaign that targeted a zero-day vulnerability in Progress Software's MOVEit file transfer product continued to grow as insurer Genworth Financial reported that up to 2.7 million of its customers and agents appear to have been affected by the breach.
Every week, ISMG rounds up cybersecurity incidents around the world. This week, attackers hit European Investment Bank; a California pension fund suffered a cyberattack related to MOVEit; UPS Canada disclosed a data breach; and a new Android malware campaign spread GravityRAT spyware.
Every week, ISMG rounds up cybersecurity incidents in the world of digital assets. This week: Sam Bankman-Fried is set to face two criminal trials instead of one, Binance is sinking deeper into regulatory quicksand, and the Mango Markets hacker is expected to be tried on Dec. 4.
Ukrainian cyber police have disrupted a fake investment scam that involved stealing cryptocurrency from the online wallets of several victims in Canada. The scammers operated out of two call centers in the Khmelnytskyi region of Ukraine, mainly targeting Ukrainian citizens living in Canada.
Ransomware actors are using the thing that verifies crypto transactions - mining - to their advantage. More criminals are laundering their ill-gotten gains by re-minting the digital money through mining to sanitize funds and bypass controls imposed by more highly regulated financial institutions.
As countries across the globe adopted real-time payments at breakneck speed over the past year, experts said authorized push payments fraud sharply increased. APP scams nearly doubled year-over-year compared to other types of fraud. ACI Worldwide's Jackie Barwell shared fraud trends in a new report.
Each year, billions of dollars are transferred in and out of money mule accounts to support a variety of money laundering schemes. But banks are now using machine learning and AI more effectively to spot mule accounts. Two experts shared the latest approaches and tools for beefing up AML programs.
U.K. banks will soon have to reimburse customers who fall prey to authorized push payment scams. The U.K.'s Payment Systems Regulator recently released a policy that would split the reimbursement cost between sending and receiving banks and incentivize the industry to invest in fraud prevention.
Unlike other types of security threats, insider threats are complicated because only a few are caused intentionally, and they typically involve valid credential use. Beyond full- and part-time employees, insiders include vendors, customers, and others who can be working on site or remote. Frequently they’re...
In the era of digital transformation, banks’ security leaders are grappling with the challenges of maintaining a secure digital ecosystem while keeping costs down. With the explosion of touchpoints from the digitization of money and services, FinServ is now a prime target for cybercriminals, jeopardizing its...
User and Entity Behavior Analytics (UEBA) solutions ingest operational data from many sources and use analytics such as machine learning (ML) and behavior analysis to determine what is normal behavior by human users and non-human entities operating in an enterprise network. Over time, the solution builds standard...
Banks are facing unprecedented challenges in securing their digital ecosystems while maintaining cost efficiency. With cybercriminals increasingly targeting the financial industry, banks face risks to their reputation as trustworthy partners. With data breach costs averaging nearly $6 million per incident, banks...
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