No question, the information security community - and all of us at ISMG -- lost a friend with the untimely death of Terry Austin, CEO and President of Guardian Analytics.
If ever we could say banking institutions are mad as hell and not going to take it anymore ...
In the wake of the Target, Neiman Marcus and other retail breaches, banking/security leaders clearly feel abused and frustrated - and they want to see changes in how merchants conduct and process secure payments. This is...
One month after an international law enforcement effort targeted the Gameover Zeus banking Trojan, new versions of the malware are being distributed via spam campaigns.
Remote Access Tools (RATs) allow an attacker to take control over a desktop and use it remotely, opening any application and operating the PC as if the fraudster was sitting next to it. Recently, RAT attacks have migrated from use in nation state and hacktivist operations to online banking fraud. Existing fraud...
Many banks are replacing traditional risk-based secret questions with out-of-band SMS authentication. Beyond the enhanced (perceived) security that comes with out-of-band authentication the major driver for adoption of these technologies is regulation (i.e. FFIEC Guidelines). However, with security and compliance...
Mobile banking continues to gain momentum, growing faster than any other delivery channel to date. Many financial institutions want to expand capabilities in the mobile channel, but are concerned about security. Given the evolving threats, mobile innovation has outpaced the industry's appetite for deploying new...
Cybercriminals are stepping up their attacks on financial institutions by gaining control of customer devices with highly advanced man-in-the-browser (MitB) malware and spear phishing attacks. They then conduct real-time credential theft and take over accounts. The main reason for cybercriminals' continued success is...
The malware industry supplies all the components cybercriminals need to easily perpetrate malware-driven financial fraud and data theft. In today's virtual world, the scope of organizations vulnerable to malware-driven cybercrime is quite broad. In addition to banks and credit unions that are subject to online banking...
Financial institutions, commercial enterprises and government organizations are all prime targets for cybercrime. Malicious software, or malware, is the primary attack tool used by cybercriminals to execute account takeover attacks, steal credentials and personal information, and initiate fraudulent...
Consumers see the advantage of accessing banking capabilities from their mobile device. However, today's mobile devices lack security to stay ahead of the evolving mobile threat landscape. Cyber criminals will continue to target the mobile channel with sophisticated attack techniques and new emerging techniques in the...
Poor Internet hygiene, not increased cybercrime, is what's really to blame for the increased botnet traffic the online world is battling, say cybersecurity experts Tom Kellermann and Rod Rasmussen.
Security researchers say the international takedown of the Gameover Zeus botnet and servers for CryptoLocker ransomware will have a positive short-term impact, but they warn the threats could quickly re-emerge unless key steps are taken.
eBay is urging its 145 million customers to change their passwords following a cyber-attack on a company database that compromised encrypted passwords and other personal information. Learn how and when the attack originated.
The arrests of more than 90 individuals for their alleged involvement in the use of BlackShades malware is a sign of progress in the global fight against cybercrime, but some experts question whether the crackdown will serve as a fraud deterrent.
Fraud Summit - Chicago 2014 - It has been nearly three years since the FFIEC issued updated guidance aimed in part at curtailing incidents of corporate account takeover. Yet, banking/security leaders today say their current anti-fraud investments have done little to reduce fraud incidents or losses. What do the...
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