Despite the value of cryptocurrency plummeting since 2017, cybercriminals and rogue nations are still using it to launder funds. One recently discovered scheme designed to evade AML detection is "crypto dusting," according to CipherTrace's Dave Jevans.
Massive data brokers - Equifax, Experian, Illion and others - are leveraging Australia's electoral roll, which is a tightly held and valuable batch of data. While this little-known practice might sound alarming, in fact it's required under Australia's anti-money laundering and anti-terrorism rules.
The U.S. Securities and Exchange Commission has charged seven individuals and two organizations with being part of an international scheme that hacked the SEC's EDGAR document system, stole nonpublic corporate information and used it to illegally earn $4.1 million via insider trading.
A Juniper Research analysis of why card-not-present fraud will continue to grow leads this week's edition of the ISMG Security Report. Also featured: Updates on a Neiman Marcus breach lawsuit settlement and a German hacking incident.
Forty-three states have reached a settlement with Neiman Marcus over its 2013 data breach, one of several breaches from that period blamed on in-memory malware. The retailer will pay $1.5 million and must use encryption and tokenization to protect card data.
We no longer live in a Web only world. Consumers are increasingly interacting across multiple touchpoints, particularly digital channels. Today, over half of all transactions originate from a mobile device or app, and as a result, fraud in the mobile channel has increased over 600 percent in three years. With so many...
The notorious hacker gang The Dark Overlord continues its blackmail efforts, turning its hand to 9/11 conspiracy theories to try to sell stolen insurance documents. The group's latest media blitz attempts to pressure victims that it has so far failed to extort.
Fraud detection requires an omnichannel approach to behavioral analysis that involves monitoring users' access to networks via the web, mobile, a call center or other channels, says Shai Cohen, a vice president at RSA.
The U.S. Department of Justice says eight individuals have been indicted - and three of them arrested abroad - as part of a multiyear FBI investigation into gangs that allegedly perpetrated digital advertising fraud via the Methbot and 3ve schemes.
Identity fraud cost the United States $16.8 billion in 2017. For Financial Services, the issue is acute. Thanks to a recent spate of data breaches, SSNs and other traditional identifiers are no longer fit for purpose. But without identity verification, new customers can't be onboarded.
Increasingly strict KYC and...
Cybercrime gangs continue to update or issue fresh versions of malware to mine for cryptocurrency, deliver crypto-locking ransomware, steal passwords and facilitate online bank account heists, according to new research reports.
The financial services industry is in the midst of sweeping change. Earlier this year, we saw one of the latest shifts with the introduction of the European Union's revised Payment Services Directive (PSD2). PSD2's Strong Customer Authentication (SCA) section requires two factors for authentication.