Don't click phishy links. Everyone knows that. But are your end users prepared to quickly identify today's tricky tactics being used by bad actors? Probably not. Cybercriminals have moved beyond simple bait and switch domains. They're now employing a variety of advanced social engineering techniques to entice your...
The U.S. Department of Justice announced Friday that it has wrapped up its investigation of the xDedic dark web marketplace and successfully dismantled the multinational criminal organizations, leading to charges against 19 individuals, including administrators, developers and customer service reps.
In late Q4 2023, ISMG conducted a survey that attracted over 100 responses from professionals and provided a unique platform for Fraud, AML, Financial Crime, and Compliance leaders to contribute their insights and to offer a deeper understanding of how AI is shaping the daily battle against fraud.
This week in the cryptocurrency industry, Thunder Terminal successfully prevented a hack, Changpeng Zhao ranking 34th on a list of billionaires, Coinbase refuted a senator's allegations of subverting crypto regulations, and scammers stole $3 million in 24 hours using fake ads.
The continuing battle against fraud and financial crime demands constant adaptation and innovation. Generative AI - Artificial Intelligence - and broader AI technologies have brought both excitement and apprehension to our field, as they hold the promise of revolutionising our approach to fraud prevention while...
Email is a major entry point for threat actors, who have evolved their tactics to bypass traditional security solutions and now leverage AI to make attacks more scalable and harder to detect. In response, organizations are buying AI-enabled solutions to bolster their security posture. This survey shows...
In today's business landscape, navigating the complexities of compliance and risk management is an everyday challenge. To ensure sustainable performance and profitability, your organization must respond swiftly to the ever-evolving landscape of risk. An agile Anti-Money Laundering (AML) transaction monitoring program...
In today's fast-paced digital economy, global businesses face a unique challenge: how to effectively navigate compliance and customer demands while accelerating their digital operations. Many organizations are finding their answer in Risk Orchestration, a strategic approach that enables seamless compliance and fraud...
Established provider LexisNexis Risk Solutions remains atop Forrester's digital fraud management rankings, while upstart Sift broke into the leaders category for the first time. Many providers in the space have expanded from payment transactions to account takeover fraud as well as handling scams.
Synthetic ID fraud has moved beyond business-to-consumers to business-to-business fraud as more bad actors are opening fraudulent commercial accounts at financial institutions, said Dori Buckethal, vice president of risk and fraud solutions at Thomson Reuters.
Phishing attacks have come a long way from the spray-and-pray emails of just a few decades ago. Now they’re more targeted, more cunning and more dangerous. And this enormous security gap leaves you open to business email compromise, session hijacking, ransomware and more.
Join Roger Grimes, KnowBe4’s...
Each year, billions of dollars are transferred in and out of money mule accounts to support a variety of money laundering schemes. But banks are now using machine learning and AI more effectively to spot mule accounts. Two experts shared the latest approaches and tools for beefing up AML programs.
In the latest weekly update, finance security expert Ari Redbord joins ISMG editors to discuss takeaways from the U.S. Treasury's 2023 DeFi Illicit Finance Risk Assessment, the state of blockchain analytics and where it is headed, and traction for FinCEN's Financial Action Task Force Travel Rule.
Illicit and illegal activity needs the financial system. For crime to pay, criminals need to launder the proceeds of their crimes and those exploiting vulnerable people for financial gain need to disguise the source of their wealth. Across the world, criminals and terrorists are constantly looking for weak points in...
Coinbase agreed to a $100 million settlement with the New York financial regulator on Wednesday over cybersecurity lapses and failure to comply with anti-money laundering guidelines that allowed criminals to use the platform for fraud, money laundering and other illicit activities.
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