The latest edition of the ISMG Security Report features an analysis of attempts made by European law enforcement to encourage young cybercriminals to channel their skills in more ethical ways. Also featured: Fraud detection and response; inspiring behavioral change.
Neiman Marcus Group says it is notifying 4.6 million of its online customers who are affected by a data breach that occurred in May 2020. The data includes personally identifiable data, payment and gift cards, online account credentials and security questions.
Microsoft has indicated it will make changes to reduce the risk around what a security vendor says is a vulnerability that lets attackers run brute-force credential attacks against Azure Active Directory. The issue was reported to Microsoft in June by SecureWorks' Counter Threat Unit.
For fraudsters, there has been no respite. The fraud
economy took no pandemic hit. There was no
reduction in schemes among adversaries and they
experienced no job losses. Instead, shifts toward an increased dependency on digital channels have presented a myriad of new opportunities for illicit
financial gain....
Banks are uniquely exposed to secondhand risk and fraud resulting from compromises of payment card information at merchants in other industries, particularly retail, hospitality, and ecommerce. A significant proportion of fraud against retail banks issuing credit cards therefore results from incidents on networks and...
Cybercriminals have added a devious weapon to their attack arsenals - malicious browser notifications. And the worst part is they’re not blocked by any current cyber defense. These innocuous looking pop ups can wreak havoc on your network while remaining completely undetected. They look more realistic than...
The COVID-19 pandemic has led to an uptick in financial crimes, a sudden rise in digital banking activities and resources working from home. As a result, the AML landscape has become more challenging for Financial Institutions and other AML regulated entities.
How has the AML regulatory climate shifted most...
Is your approach to financial crime tactical or strategic?
Changing regulatory expectations, new and emerging technologies and criminal event typologies and an abundance on under-utilised data are resetting the operational model for anti-money laundering. When these factors are considered against changed economic...
Can your organization provide a seamless digital experience with immediate account access, and stand up to the highest standards in safeguarding customers’ assets?
When consumers fall victim to fraud, they expect their financial services organization (FSO) to help them resolve the issue. And when the firm...
Brokerage account takeover, supply chain attacks, destructive attacks and those that seek to manipulate time or time stamps are among the latest threats uncovered in the new Modern Bank Heists report authored by Tom Kellermann at VMware Carbon Black.
Visa's Payment Fraud Disruption team reports that cybercriminals are increasingly using web shells to establish command and control over a retailers' servers during payment card skimming attacks.
Digital banking has become the single most effective channel for financial institutions to drive growth, increase revenue and attract new customers. Yet, it also introduces more risk, and cybercriminals are following the money right into the online account opening process.
Today, a staggering 85% of financial...
Account takeover fraud remains an ongoing problem for financial institutions, e-commerce merchants, and virtually any organization that offers products or services that can be monetized. These attacks, helped along by the global pandemic, grew substantially last year as the increased reliance on digital services...
In financial services, there is a stark difference between defending against authorized versus unauthorized fraud incidents. James Hunt of Bottomline Technologies discusses the schemes and how to respond with a more dynamic prevention strategy.
The mobile channel saw great user adoption in 2020 – and it saw a corresponding increase in fraud incidents. Tim Dalgleish of BioCatch discusses mobile fraud trends and the role of behavioral biometrics in enhancing user authentication.
In this interview with ISMG, Dalgleish discusses:
Mobile adoption and fraud...
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