Cybercrime and Fraud, Page 2

The Role of Money Mules in New Multi-Million Dollar Scams

I have written previously about CEO fraud where employees receive an email which appears to come from a company executive directing them to erroneously wire money to an overseas bank account. Now, fraudsters are redirecting their efforts to a new internal target: accounts payable. According to IBAN, the scam works this way: The fraudsters intercept emails or compromise…

Best Advice for Digital Citizens – Stop. Think. Connect.™

October is kind of a big deal here at RSA. It’s National Cyber Security Awareness Month (NCSAM) and it gives us an opportunity to bring to the general public’s attention to a critical mission that we are focused on all year long – keeping businesses and individuals safe from cybercrime. It’s unfortunate that cybercrime is impactful…

POS Malware and Other Hacks Plague the Hospitality Industry

The days of making “analog accommodations” at hotels — filling out a reservation slip, taking ownership of a door key and having only a telephone handset to communicate with the outside world— are long over. Today’s hotels are rife with digital trapdoors, metaphorical sinkholes that have the capacity to compromise your personal information and identity.…

The Era of Proportional Ransomware Has Arrived

According to the FBI the incursion of ransomware has just gone from bad to worse. In a recent alert, the U.S. Federal Bureau of Investigation (FBI) warned that recent ransomware variants have targeted and compromised vulnerable business servers to identify and target hosts, thereby multiplying the number of potential infected servers and devices on a network. More…

Credential Checking Services Soar in Popularity on Dark Web

If you’ve ever needed another reason to not recycle your passwords, I give you Sentry MBA. Although the tool has been around for a couple of years, it has recently been soaring in popularity among those in the fraud community which is no surprise with more than 1.5 billion consumer credentials breached so far this year. The…

The Value of Transaction Risk Analysis for Consumer Authentication

The recent consultation paper set forth by the European Banking Association (EBA) surrounding the call for comments on the regulatory technical requirements for strong customer authentication under PSD2 has created a buzz.  In particular, while the EBA recognizes the “merit” of transaction risk analysis, it has called into question the ability to allow it “as…

The Perils of Consumer Single Sign-On

From social media to gaming sites, every headline of a new breach makes me groan, “Time to change my password.”  It’s a begrudging task, but I still have not been pwned.  Aside from the risks associated with the common problem of password recycling among consumers, there are far too many online websites that enable consumers…

A New Generation of Hackers Target the Gaming Industry

Hackers love a crowd. That’s true when it comes to social media networks, government system websites, financial institutions, retailers, and, based on recent headlines, gaming sites.  For an industry projected to be worth nearly $100 billion in 2016, gaming offers a lucrative industry for cybercriminals.  Last year, gaming accounted for 1 in every 50 e-commerce fraud transactions,…

Account Takeover Gains Full Visibility with Web Behavior Analytics

Interest in and adoption of web behavior analytics is surging because of its ability to interpret the navigation and intent of each visitor to the website and as one of the best ways to protect the business against the skyrocketing rates of website fraud.  Account takeover is one of the predominant threats plaguing organizations with…

Web Threat Detection Services Deliver SWIFT Remediation

With the dust settling on a series of high profile cyber heists against international banks SWIFT’s network used to facilitate international payments between banks, the service provider is weighing changes that would effectively exclude from its network banks that have, according to reports, “demonstrated weak information security.” The Brussels-based SWIFT (Society for the Worldwide Interbank…