Fraud

The Dark Web: Coming to a Retailer Near You

As retailers, financial institutions and payment processors around the globe prepare for the upcoming year, it should come as no surprise that cybercriminals in the Dark Web are doing the same. From the POS terminal to the mobile device, fraudsters are building their arsenal of cyber weapons to strike at every point along the way.…

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…

Friendly Fraud and How to Keep Parents Safe Online

I recently read a great blog which discusses a child’s journey through the digital universe.  If you are a parent, especially of a young child, I highly recommend it.  The digital world offers so many amazing opportunities for our children to learn, yet there is certainly a dark side of which we must always be…

Browser Locked? Call This Number.

A new form of browser locker has recently surfaced.  Browser-lockers are websites or pop-ups that redirect the browser to a website that locks-up the browser.  The user is prevented from continuing any normal operation including closing the offending browser window, opening a new page, or closing the application itself. This new browser locker calls itself…

Understanding human triggers in fraudulent transactions

  Too often, discussions about fraud prevention emphasize the security controls organizations should put in place: risk engines, step-up authentication, biometrics… These are all necessary for a successful fraud prevention program, but we tend to minimize the ‘humans in the loop’ aka the end users. It’s human nature to have biases, and an effective security program should…

The On-going Threat of Social Engineering

I spoke recently at a meeting of the Dublin, Ireland chapter of ISACA about the continued (and increasing) use of social engineering in cyberattacks discussed in several recent reports, including the joint report by ISACA and RSA that documents the results of a survey of cybersecurity professionals, conducted in the first quarter of 2015. Those…

Using Transaction Monitoring to Combat Fraud

Fraud impacts organizations in a wide range of ways, from financial and operational losses to damaged reputations and loss of customer goodwill. Fraud—as well as erroneous acts such as accidental double invoicing—can be perpetrated from within an organization or by an external constituent, such as a business partner. Given the negative and sometimes far-reaching consequences,…

Oops, They Did it Again…

Another day… another credit card breach letter in the mail …and yet another card to throw away….. While talking to my mailman the other day I noticed he lost some weight. Ironically, he thanked the many credit card breaches to his improved physical fitness. (guess there is a silver lining to anything) He also expressed…

A New Liberty Reserve Emerges

The takedown of Liberty Reserve in May 2013 was a major blow to many fraudsters who used the e-currency for years to launder their illicit gains. By the time the U.S. government took action, Liberty Reserve had been around for seven years and was reportedly responsible for the laundering of billions of dollars in transactions.…

Digital Identities: I Have One For Sale

The term digital identity is so suiting to who we really are online.  Think about the accounts you log in to on a regular basis, the activities you perform each day, the way you communicate with others…most of our lives are digital.  In a research study by Harris Polls (commissioned by RSA) on digital identities,…