The false positive rate for detecting check fraud typically is very high because it's such an analog process. To detect fraudulent checks faster, banks need to pair their legacy detection capabilities with image analysis solutions, says Trace Fooshee, strategic adviser with Aite-Novarica Group.
Internet domain registrar GoDaddy says it is the victim of a yearslong hacking campaign that installed malware on internal systems and obtained source code. The hackers' "apparent goal is to infect websites and servers with malware for phishing campaigns, malware distribution," the company says.
Accenture has bought Morphus to get more intelligence around fraud and other cybercrimes Brazilian criminals are perpetuating in the digital world. The Morphus acquisition will help Accenture customers take on financially motivated cyber fraud and insider threats that are pervasive in Brazil.
Threats from API and application vulnerabilities increased in 2022, but ransomware, human error and hygiene continue to pose the greatest threats to organizations, according to findings from CyberTheory's 2022 Performance Study. CyberTheory's Steve King shares how education can make a difference.
Vladislav Klyushin, who ran a Moscow-based IT services firm associated with the Russian government, has been found guilty of running a criminal hacking scheme that earned $90 million via insider trading. He faces up to 50 years in prison. His four alleged co-conspirators remain at large.
First-party fraud is all about intent and banks have to determine whether the person carrying out the transaction is doing it intentionally. That's hard to do for a basic binary decision model, says Steve Lenderman, senior vice president/director of global loss prevention and fraud, BM Technologies.
In today's rapidly evolving threat landscape, cyber attacks are becoming more sophisticated, with spear phishing attacks now the most common way for cybercriminals to enter an organization. With the advent of new technologies like ChatGPT and Deepfakes, the situation is only getting worse. ChatGPT is being used to...
Ahead of RSA Conference 2023, Greg Day, a program committee member focusing on "hackers and threats," previews top themes at this year's event. Day, a member of the RSA Conference program committee, says one common theme is "old vulnerabilities and threat techniques being used in new environments."
In the latest weekly update, ISMG editors discuss important cybersecurity and privacy issues, including cybersecurity innovation in today's market, how French police nabbed notorious Finnish hacker Zeekill and whether we are in a new form of cold war - specifically, an ongoing cyberwar.
Revenue at dark web illicit marketplaces plummeted in 2022 following seizure by U.S. and German police last spring of what was then the world's largest online bazaar for illegal goods and services. Three markets have jockeyed for dominance following Hydra's collapse: OMG!OMG!, Blacksprut and Mega.
Improved credit card security has forced fraudsters to look for other channels, and check fraud is proving to be an easier route for them, says Michael Diamond of Mitek Systems. Even worse, new technologies are enabling fraudsters to develop even better counterfeit checks.
Attackers targeting unpatched VMware ESXi hypervisors to hit virtual machines have reportedly modified their ESXiArgs ransomware to prevent victims from using decryption workarounds identified by researchers. The campaign has already amassed nearly 3,000 known victims and could have many more.
As the massive ESXiArgs ransomware campaign continues to target unpatched VMware ESXi hypervisors, cybersecurity experts have released a script that can decrypt at least some affected virtual machines. Ransomware trackers count at least 2,803 victims, primarily in France, the U.S. and Germany.
Police in multiple European countries carried out raids against the operators and users of the Exclu encrypted chat app, arresting four dozen individuals. German authorities began investigating the app following a 2019 raid on the Cyberbunker web hosting facility.
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