Cybercrime and Fraud, Page 2

Ransomware Rules for Payment: Do Extortionists Have the Advantage?

When an entire health system fell prey to cybercriminals and medical records were locked up by a ransomware attack in early February, there seemed no choice but to pay the sum demanded in order to avoid the impact on patient care: $17,000 in 40 Bitcoin.   And in that single moment, one hospital became the obligatory…

Hiding in Plain Sight: The Growth of Cybercrime in Social Media

Social media attracts all kinds. These sites are used for catching up with friends on Facebook, instant news dissemination on Twitter, partisan political viewpoints expressed in online forums, real-time reach outs on Snapchat, professional networking on LinkedIn — and now, not surprisingly, they’re used as global havens for cybercrime. Today, we are announcing the release…

Is the Internet of Things the (Second) Coming of Big Brother?

For years, my PC ran on XP, Microsoft’s most robust, steady and never-say-die operating system. It was a lot like my old Dodge Aspen that ran and ran and ran and was still going when the odometer reached 200,000 miles— the Energizer of its day. However, just as I ultimately had to replace my beloved…

The Financial Fraud Effect of Real-Time Payments

Several weeks ago, I published an article which provided a summary of the Australian Payments Council’s Australian Payments Plan.  This plan is designed as a strategic roadmap for the future of Australian payments, specifically the initiative around the New Payments Platform, or NPP.  In short, the NPP is going to introduce the ability to send funds in real-time via online banking as a…

Beyond the Login: Web Behavior Analytics Helps Retailers Stop Fraud

In a world of scammers, fraudsters and bad actors, there are two immutable rules thoroughly entrenched in the consciousness of IT professionals trying to stop them.  Rule 1: If there is something to monetize, cybercriminals will find it.  Rule 2: If you have a loophole or weak control on your website, cybercriminals will find it.…

The Role of Tor in Cybercrime

In a previous blog, we explored the layers of the deep web, and briefly explained how anonymity technologies (such as Tor) facilitate illegal, underground commerce.  This post aims to explain the underlying concept of how Tor functions, thus, how anonymity on the Internet is accomplished. An Overview of Tor and Internet Anonymity To understand how…

Does DDoS Takedowns Really Change Extortion Rules of Engagement?

The proliferation of account takeovers, DDoS attacks,  ransomware and outright cyber extortion targeting individuals and institutions is not only disrupting the hack attack landscape, but also raising questions around our rules of engagement. How are we supposed to deal with all of this knowing the bad guys aren’t playing by the same rules that we…

Taxpayers Beware: Phishing and Other Scams Coming to an Inbox Near You

The phone rang. My first mistake? Answering it. My second? Listening to the well-scripted gentlemen relay the following information: “Hello Ma’am” announced a voice with a distinct, almost halting South African accent, “I am calling from the IRS in Washington D.C. and you owe us money. If you do not send me a wire transfer…

Does EMV Make Online eCommerce Transactions Safer?

Ok, let’s get this quickly out of the way: EMV, the non-swipe chip-embedded credit cards are sturdy barriers against (in-person) credit card fraud.  However, when it comes to card-not-present eCommerce transactions (e.g. online ecommerce) where EMV is not a factor and where cybersecurity threats continue to proliferate, shouldn’t the customer experience be as secure and…

The Economics of Identity Theft in the Dark Web

If you ever want to find a reason to boycott the Internet, just go work for a security vendor.  The digital universe is a scary place, and the cybercriminals who operate within it never cease to amaze me with the level of sophistication they harness in their Dark Web businesses. The black market, although rife…