Payment card breaches, check fraud and phishing/vishing - these are the most common forms of fraud striking banking institutions today. Yet, what form of fraud do institutions feel most prepared to prevent? Money laundering.
This is just one of the sobering results from the new Faces of Fraud: Fighting Back study...
Description Security researchers have discovered Zeus isn't just targeting bank accounts; now the cybercriminals are using Zeus botnets to go after Charles Schwab investment accounts.
Because detecting and preventing online fraud is a "very complex puzzle," community banks need to rely on predictive analytics, says Mellani Ocampo of Pacific Continental Bank.
Mobile banking is a given. Payments are the next frontier, and a number of technologies, such as remote deposit capture, are converging to make mobile payments readily accessible to consumers.
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.
The story of Nazreen Mohammed shows a new level of over-the-top insider fraud and that sometimes good judgment is thrown away when a mother wants to help her son.
Zeus, now in its eighth generation, is striking businesses and financial institutions throughout the world, and it's suspected to be the malware behind recent attacks on mobile devices.
Federal authorities have charged 44 alleged members and associates of an Armenian-American organized crime enterprise in connection with two massive insurance fraud schemes.
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