A global law enforcement operation has resulted in the arrest of 281 suspects allegedly involved in business email compromise scams. The announcement comes on the same day as the FBI's Internet Crime Complaint Center says that losses from BEC scams have hit $26 billion and are continuing to rise.
Researchers at Kaspersky discovered malware hiding in advertising within a recent version of the popular CamScanner app for Android smartphones. Over the years, the app has been downloaded over 100 million times from the Google Play store.
A new variant of the TrickBot banking Trojan is enabling attackers to conduct SIM swapping schemes against Verizon Wireless, Sprint and T-Mobile customers in the U.S., potentially paving the way for account takeover fraud, according to a report from Dell's SecureWorks division.
The payment card industry needs to do more to tackle the rising problem of fraud, says information security expert William H. Murray, pointing to the new Apple Card - which lacks the card number printed on it - as an example of how the industry must evolve. But numerous cultural challenges remain, he says.
After two months of inactivity, the notorious Emotet botnet is poised to start delivering malicious code again; active command-and-control servers have been spotted in the wild, researchers at the security firm Cofense warn.
Online account origination fraud has grown 30% since 2017, with $1.3B losses in 2018. The increase in losses has a lot to do with fraud rings switching from automated attacks to human workers who submit applications manually - this is because nothing solves a CAPTCHA like a human.
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"Silence," a Russian-speaking criminal group that has stolen $4.2 million from ATMs and financial institutions since 2016, has become more active this year, using new tools and tactics in its attacks and expanding its reach globally, according to the security firm Group-IB.
An A-list of cyber experts, including former Homeland Security Secretary Jeh Johnson, has put its weight behind U.S. CyberDome, a nonpartisan initiative to protect presidential campaigns against foreign influence. Matthew Barrett, a former NIST leader and co-founder of CyberDome, outlines how this group is gearing up.
For at least half a decade, HSBC helped to wash hundreds of billions of dollars for drug mobs, including Mexico's Sinaloa drug cartel, as well as move money for terrorist organizations linked to Al Qaeda and Hezbollah and for Russian gangsters. Furthermore, HSBC helped countries like Iran, the Sudan and North Korea...
A little over a week after a breach at Capital One was revealed, more U.S. lawmakers are raising questions about what happened at the bank, including what role, if any, Amazon may have played in opening the door to the intrusion.
For financial institutions, every new customer heralds an opportunity - but if the organization doesn't know enough about that customer there may be risks as well. Using know your client (KYC) and customer due diligence (CDD) checks as an initial first line of defense in reducing the risk of money laundering and...
Disruption continues to reshape the financial services industry. Time-proven products and services have been rendered obsolete in the blink of an eye, rewriting the banking landscape and leaving it scattered with new challenges.
Online banking and faster payments have been embraced by customers, but money launderers...