"While these arrests may make some think twice, the vast majority of criminal enterprises will keep pursuing the millions to be made from flawed security systems." - Robert Siciliano, ID theft expert
The Zeus threat is striking businesses and financial institutions throughout the world, and it's suspected to be the malware behind recent attacks on mobile devices.
A federal crackdown on ACH and wire fraud has produced 37 arrests of a money mule operation - part of what law enforcement is calling a sophisticated bank fraud scheme.
Robert Siciliano, a McAfee security consultant and founder of IDTheftSecurity.com, says socially engineered scams that are SMS/text-based will create big headaches for banks and credit unions in the near future.
Determining whether returning customers are genuine or imposters can no longer rely upon just Positive Identity Verification solutions. Fraudsters simply use stolen identities, hidden proxies, botnets and scripted attacks to evade discovery. Today, there is a new generation of Negative Identity Verification solutions...
Elizabeth Warren will lead the charge at the soon-to-be-formed Consumer Financial Protection Bureau, pushing for the watchdog agency that's at the heart of regulatory reform.
The arrests of 19 people in London has England's Scotland Yard unraveling what appears to be an online banking scheme that stole at least $9 million from banking customers.
The announcement late last week that the National Credit Union Administration is taking over three undercapitalized corporate credit unions may signal a stabilizing impact on the industry.
Merchants, financial institutions and any other provider in the payments chain can expect to take more responsibility for complying with Payment Card Industry Data Security Standards.
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