According to findings from the Identity Theft Resource Center's 2023 Q1 Data Breach Report, the number of publicly reported data compromises decreased, but the number of data breaches with no actionable information about the root cause of the compromise grew.
In the latest weekly update, finance security expert Ari Redbord joins ISMG editors to discuss takeaways from the U.S. Treasury's 2023 DeFi Illicit Finance Risk Assessment, the state of blockchain analytics and where it is headed, and traction for FinCEN's Financial Action Task Force Travel Rule.
The emergence of real-time payments has transformed the financial industry, but it has also opened the door to new threats and challenges for fraud prevention and anti-money laundering professionals in the US.
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The latest trends in real-time payments
Effective strategies for...
Watch this 45-minute webinar and listen to the conversation where we delve into current threat trends and provide real-world examples of these attacks, enabling you to better prepare for and safeguard your most valuable assets: your data and your people.
The U.S. Consumer Financial Protection Bureau is mulling over whether to reimburse consumers for online scams and fraud, but this regulatory change could lead to an increase in first-party fraud, cautioned Karen Boyer, senior vice president of financial crimes at M&T Bank.
A widespread ongoing malicious JavaScript injection campaign first detected in 2020 has targeted over 51,000 websites, redirecting victims to malicious content such as adware and scam pages. Attackers are using several obfuscation tactics to bypass detection.
EMV chip technology has taken a major bite out of credit card fraud at the point of sale, but card-not-present fraud continues to flourish thanks to an age-old technology - the magnetic stripe, says Mark Solomon, international president, International Association of Financial Crimes Investigators.
Never before have companies had the ability to reach so far and wide to gain new customers. Thanks to the internet, a business’ footprint knows no limits. Today, there are unprecedented opportunities to attract customers and boost revenues. Yet, onboarding customers is tricky and challenging. It’s critical to...
In this age of digital transformation, nearly every company that allows for web or app-based account creation is vulnerable to fraud from fake accounts or unauthorized account sharing.
Whether it be ecommerce, on-demand services like ride shares and grocery delivery, video streaming, or financial and payment...
As our business-critical applications are a blend of cloud and on-premise based and users need secure access to resources from everywhere, the traditional firewall approach no longer works. Our single network perimeter has evolved to multiple micro-perimeters.
For many organizations the application is the new...
In the latest weekly update, ISMG editors discuss important cybersecurity and privacy issues, including how the new U.S. cybersecurity strategy doubles down on hitting ransomware, how the strategy shifts liability issues to vendors, and why check fraud is on the rise and what can be done about it.
In the latest weekly update, four ISMG editors share highlights of ISMG's upcoming Engage Toronto event and discuss how the U.S. Supreme Court may undercut the identity theft statute and how - despite tough economic times - vendor Wiz boosted its valuation by $4 billion in 16 months.
Faster payment technology has been around for years, but fraud continues to dominate the conversation, says Reed Luhtanen of the U.S. Faster Payments Council. Luhtanen says all payment systems have a fraud problem, and firms will be able to curb faster payment fraud with more experience and data.
A case before the U.S. Supreme Court may limit federal prosecutors' ability to bring charges of aggravated identity theft. A Texas man convicted of overbilling Medicaid argued Monday he's not also guilty of identity theft since he had a patient's permission to submit the bill.
Tools such as image analysis are of little help to banks dealing with check fraud since, most of the time, checks that are deposited are legitimate, says Karen Boyer, senior vice president for financial crimes at M&T Bank. She says the best way to deal with this fraud is to closely monitor accounts.
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