Cybercrime and Fraud, Page 2

Not on My Dime: When Fraudsters Take a Phantom Ride

As any parent with children in sports knows, it is simply not possible to be in two places at the same time.  I have tried to defy the laws of time and space by magically appearing at two different baseball fields when my sons’ games are conveniently scheduled at the same time on different fields…

Fraud Investigation: A Big Job for Small Teams

RSA recently conducted a survey among security and fraud investigation professionals within the e-commerce industry to gauge the cyber threats and business challenges that plague them most.  While many interesting insights emerged, there was one that stood out: finding the source of fraud takes too long. Among the observations and conclusions: Detecting fraud/suspicious activity isn’t…

CEO Fraud: The New $2 Billion Phishing Scam

Like most employees, you don’t think twice before opening an email from your CEO. Given the latest email scam making the rounds in the workplace, maybe you should.  Statistics show that the spear phishing scam known as “CEO Fraud” has already racked up more than $2 billion in losses and victimized 12,000 individuals globally. Losses…

Reduce Fraud and Abandonment with a Risk-Based Approach to Online Sales

Sooner or later every business with an online presence is plagued by shopping cart abandonment. Sometimes a consumer changes their mind, factors in the cost of shipping and decides it’s not worth it, or is simply distracted long enough so the transaction is never completed. Getting a consumer to follow through is not as easy,…

Find Friends and Credit Cards on Facebook: The New Cybercrime Reality

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. With the release of the second…

Money Mules: The Critical Cash Out Service in the Fraud Supply Chain

While we might associate a mule with the stubborn, four-legged animal, in the world of cybercrime, it has a much different connotation. Mules can come in the forms of both accounts or people and are critical parts of the fraud supply chain. You can have mule accounts which are used to move stolen funds, or…

Credential Sharking: A New Fraud Comes to Town

Over the past couple of years, I’ve worked on many projects which have been focused on helping companies ‘turn the lights on’ as to what is happening on their website – the good, the bad and everything in-between. One of the most unusual cases I’ve seen involved a payday lender and a mass disclosure of online…

3D Secure Innovations: New Analytics Dashboard Helps Improve Response to Fraud

The 3D Secure protocol has been much (and somewhat unfairly!) maligned for the negative impact it has on the cardholder’s online experience. Requiring cardholders to produce their password each and every time they try to transact on a participating merchant site significantly disrupts purchase flow. Adding friction to the online checkout process leads to cart…

Ransomware: The New Cyber Kryptonite

And then, there was irony. While Apple has been able to hold out against the FBI demanding it produce a backdoor into the iPhone used in the recent San Bernardino attack, it was unable to render a similar defense against a strain of ransomware that recently, albeit briefly, infected its own Mac computers. The recent…

A Tale of One Password and Unhappily Ever After for Retailers

Do you recycle? I’m not talking here about paper, glass and aluminum waste. I mean online passwords.  For most consumers, password recycling is a given which exposes them to a wide variety of other identity theft risks.  However, poor identity management practices on the part of consumers also puts retailers and e-commerce merchants at risk…