Morgan Stanley agreed to a $60 million settlement to resolve a class action lawsuit claiming the banking giant violated security compliance laws and provided negligent oversight when a third party did not properly decommission legacy IT systems in 2016 and 2019.
Synthetic ID fraud has grown in popularity, with U.S. companies reporting losses of $20 billion in 2021 compared to $6 billion in 2016. Cybersecurity experts discuss with ISMG why this type of fraud has gained traction, how fraudsters use it, mitigation steps, and what we can expect in 2022.
Advanced voice impersonation and deepfake technologies are giving rise to cybercrime groups that offer Vishing-as-a-Service, security researchers say. Vishing is proving to be successful in tricking victims and bypassing voice authorization mechanisms.
Automation, a good criminal network and the ability to use accounts as an alias are some of the factors contributing to synthetic ID fraud, says a panel of three experts.
On one hand, 60% of survey respondents rate their institutions as "above average" or "superior" when it comes to mitigating fraud. Yet, 55% say their customers and partners lack sufficient awareness to protect themselves from fraud. Appgate's Bryan Jardine analyzes the Faces of Fraud survey results.
Australia is currently the 10th largest ecommerce market in the world by revenue. The ecommerce market value is at $33.1 billion, with an estimated growth rate of 8.9% in 2021.
As digital transformation accelerates initiatives like revenue collection, customer loyalty, and brand awareness are now primarily online....
The number of breach reports filed by U.S. organizations looks set to break records, as breaches tied to phishing, ransomware and supply chain attacks keep surging, the Identity Theft Resource Center warns. It says that there's also been a rise in tardy breach notifications containing little detail.
In the latest weekly update, four editors at Information Security Media Group discuss important cybersecurity issues, including why enterprises need a multilayered approach to securing identity, how fraud will evolve in 2022 and the need to secure backdoors to prevent ransomware attacks.
Get your people and programs ready for Cybersecurity Awareness Month. This year’s theme is “Do Your Part. #BeCyberSmart.” And it focuses on how everyone should own their role in cybersecurity.
The Proofpoint Cybersecurity Awareness Month Kit helps you leverage both new and existing programs to keep your...
Despite the popular perception of identity theft as a major cause of fraud, it accounts for only 20% of auto loan fraud risk while income and employment misrepresentation account for 60% of loan losses, says Justin Davis, fraud consultant at Point Predictive. He discusses tools that can catch this type of fraud.
Microsoft has officially gone fully passwordless, allowing Windows users to replace their alphanumeric passwords with one of several substitute sign-in technologies to gain entry into a Microsoft product - a move received positively by industry insiders.
Massachusetts Attorney General Maura Healey says her office is probing the data breach at T-Mobile that exposed the personal information of 54 million people, including current, former and prospective customers of the carrier. The Federal Communications Commission is also investigating the incident.
The White House is preparing executive branch agencies to adopt "zero trust" network architectures by 2024, with CISA and the OMB overseeing the creation of technology road maps that departments must follow. This is a major component of President Biden's cybersecurity executive order.
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