Cybercrime and Fraud, Page 2

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…

Phishing Lives On with New Bait

The saying “Gone Fishing” on the once prosaic signs hanging from rural-based gas stations or car repair shops has evolved to mean something completely different in 2016. While phishing attacks are not growing by leaps and bounds like other types of cyber threats, it is certainly showing no signs of slowing down. Last year, RSA…

Fraud Effects of Real-Time Digital Banking Payments: Is Your Bank Ready?

When was the last time you read a news article about an ‘old school’ brick and mortar bank robbery?  Or perhaps even seen a new Hollywood movie about a gang of bank robbers?  I suspect the answer is……you haven’t. Online banking has facilitated a revolution in how we do our banking, with mobile pushing it even further in recent…

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.…