Cybercrime , Fraud Management & Cybercrime , Governance & Risk Management

Real-Time Payment Networks Face Off Against Fraudsters

Plus, as Personnel Depart, Who's Coordinating 'Cyber' at the White House?
Real-Time Payment Networks Face Off Against Fraudsters
Photo: Flood G. (via Flickr/CC)

Leading the latest edition of the ISMG Security Report: How real-time payment networks are battling attempts by fraudsters to compromise them in near real time. Also, attackers exploit legitimate websites to more stealthily distribute "Gandcrab" crypto-locking ransomware.

In this report, you'll hear (click on player beneath image to listen):

  • Real-time fraud rises: ISMG's Director of Banking and Payments, Nick Holland, describe how P2P payment networks, including Venmo and Zelle, are being targeted by fraudsters, and what types of defenses they're employing to try and fight fraud (see Faster Payments: Effective Fraud Mitigation Strategies).
  • Ransomware surges: ISMG Executive Editor Jeremy Kirk chart the increasing prevalence of Gandcrab ransomware, which has been nesting on legitimate websites with unpatched software that's been compromised by attackers (see Crabby Ransomware Nests in Compromised Websites).
  • White House grapples with "cyber": There's an apparent tussle at the White House over who will coordinate the Trump administration's approach to cybersecurity as Rob Joyce, who's handled the task for the past 15 months, returns to the National Security Agency (see White House Might Eliminate Cyber Coordinator Role).

The ISMG Security Report appears on this and other ISMG websites on Fridays. Don't miss the April 27 and May 4 editions, which respectively highlight the EU's countdown enforcing its General Data Protection Regulation, aka GDPR, as well as the ongoing scandal facing data analytics firm Cambridge Analytica.

Theme music for the ISMG Security Report is by Ithaca Audio under a Creative Commons license.

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