Fraudsters continue to get new tricks up their sleeves. Criminals are increasingly using Apple Pay, setting up mobile call centers to socially engineer victims as well as tricking consumers via fake e-commerce sites that never fulfill orders, fraud-fighting experts warn.
Cross-border eCommerce sales are set to reach $627 billion by 2022, with the highest growth rate projected in regions outside of North America and Western Europe, but US merchants are not capitalizing on these global markets. In fact, only 42% of surveyed US merchants said their websites accommodated global...
Online fraud is becoming more sophisticated as cyber-criminals try to stay a step ahead of fraud solutions and tools. Not only are ATO attacks tough to spot, they can also cause harm that goes beyond just stolen goods and chargebacks.
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How fraudsters get credentials to...
Known for targeting banks and ATMs in Russia and other Eastern European countries, the "Silence" gang apparently is now expanding into other regions, using a combination of custom malicious tools and "living-off-the-land" techniques, researchers report.
Hackers behind the FASTCash ATM cash-out attack campaign - tied by the U.S. government to North Korea - use Trojan code designed to exploit bank networks running outdated versions of IBM's AIX Unix operating system, Symantec warns.
Tesco Bank has been hit with a £16.4 million ($21.3 million) fine by the U.K.'s Financial Conduct Authority for failing to prevent and more rapidly block thousands of fraudulent transactions that drained £2.3 million ($3 million) directly from customers' bank accounts.
A cybercrime gang called "Silence," which appears to have just two members, has been tied to attacks that have so far stolen at least $800,000, in part via ATM jackpotting or "cash out" attacks, warns cybercrime investigation firm Group-IB.
The FBI warns that cybercriminals are planning a large-scale operation aimed at emptying ATMs, a type of attack that has caused swift and costly losses for financial institutions. The attack may utilize data from a breach of an unknown card issuer, the FBI says.
Following 33 arrests, police in Europe say they have dismantled a Romanian-led crime gang that used phishing attacks, online scams and fake invoices to steal more than $9 million from victims in Spain, including individuals as well as organizations ranging from hospitals to government agencies.
As account opening continues to transition from physical to digital channels, financial institutions and other organizations must optimize the digital experience of applicants in order to compete. At the same time, fraud is on the rise thanks to some of the same digital channel benefits enjoyed by consumers:...
As account opening continues to transition from physical to digital channels, financial institutions and other organizations must optimize the digital experience of applicants in order to compete while simultaneously mitigating fraud risk that is on the rise thanks to some of the same digital channel benefits enjoyed...
As account opening continues to transition from physical to digital channels, financial institutions and other organizations must optimize the digital experience of applicants in order to compete. At the same time, fraud is on the rise thanks to some of the same digital channel benefits enjoyed by consumers:...
The Department of Justice has charged two men, arrested in Connecticut near the scene of a jackpotting attack against a drive-up ATM, with bank fraud stemming from a malware attack. Police say they recovered $9,000 in $20 bills, as well a black box and other equipment from the suspects' car.
U.S. Secret Service alert: For the first time, malware-using fraudsters have been draining U.S. ATMs of their cash via what's known as a jackpotting or cash-out attack. Two older models of ATMs made by Diebold Nixdorf appear to have been targeted.
How can a financial institution spot a true customer from an impostor in the digital world? Cybercriminals leave footprints for fraud experts that are markedly different than true customers.
Download this whitepaper and learn about fraud clues such as:
The use of a pre-paid SIM card;
Automated or industrial...
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