Fraud

Cyber Scams to Beware of at the 2016 Summer Olympics

Are you planning to cheer on your country’s athletes in-person at the Summer Olympics in Rio and need some discounted tickets? Or maybe you can’t afford to actually travel there, but would love to win a ticket lottery that would increase your chances of doing so? Or maybe you’re not planning to attend at all…

Identifying Fraud Faster with Intelligence Feeds – Web Threat Detection v6

Online fraud remains as much a part of digital life as URLs. Fraudsters are constantly devising new ways to separate consumers from their money, login credentials, Personally Identifiable Information (PII), healthcare data and anything else that can be monetized. Even more, they are doing it with speed and sophistication, but most damaging, they do it…

Current State of Cybercrime in 2016

The bon mot that “crime doesn’t pay” certainly predates the advent of cybercrime. Today, these digital hold-ups against businesses are highly profitable.  Let’s face it: if cybercrime was a publicly traded stock, realizing the return on investment, we’d all be on the phone with our respective broker begging for them to include it in our…

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…

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…