ChatGPT set the world on fire six months ago, and since then a slew of companies have released features or products built on or around generative AI - some of them completely legitimate and some of them little more than snake oil. Does AI makes sense everywhere for everything? Absolutely not.
Financial institutions globally have invested heavily in anti-financial crimes strategies and tools that report potential risk to regulatory authorities. But so have their adversaries. David Stewart and Keith Swanson discuss how institutions are using AI/ML to create more effective fraud defenses.
A Nigerian national has pleaded guilty to participating in a business email compromise scheme that stole $1.25 million from a Boston investment firm. Perpetrators used malware to intercept an employee's emails as well as spoofed email accounts to trick the employee's London financial services firm.
Spanish police estimate that a group that mainly targeted ATMs of Spanish national banks using cloned payment cards had fraudulently pocketed nearly 196,000 euros. Authorities arrested three suspected members of the group Sunday in the Spanish coastal city of Valencia.
The Biden administration says it wants to get ahead of ransomware attacks against schools before K-12 education resumes in the fall. "We must take cyberattacks on our schools just as seriously as we take physical attacks on critical infrastructure," said Cindy Marten, education deputy secretary.
Authorities are sounding the alarm about double-extortion attacks against healthcare and public health sector organizations by a relatively new ransomware-as-a-service group, Rhysida, which until recently had mainly focused on entities in other industries.
The U.S. federal government acknowledged that it is lagging behind on border gateway protocol security practices. Officials from several government agencies, ISPs and cloud content providers organized a workshop to understand the latest security improvements underway.
In the latest weekly update, Troy Leach, chief strategy officer at Cloud Security Alliance, joins ISMG editors to discuss preparing for new regulations, new requirements for third-party cloud penetration testing, and the opportunities and risks of AI in the financial sector.
A ransomware attack has forced a California-based hospital chain to divert ambulances from its emergency rooms and cancel appointments for services. The group of 17 hospitals, 166 outpatient clinics and various doctor practices is still recovering after an IT systems shutdown.
Fortra has pursued acquisitions in the infrastructure protection, data protection, and digital risk and email protection markets to help customers improve security posture. CEO Kate Bolseth said clients told Fortra they had challenges within segments such as security awareness and managed services.
A delay in finalizing enterprise deals and a shorter average contract duration have forced Fortinet to lower its sales forecast going forward. The Silicon Valley-based platform security vendor said average contract length shortened from 29.5 months to 28 months in the fiscal quarter ended June 30.
A Russia-linked hacking group is shifting its online infrastructure likely in response to public disclosures about its activity. Its ability to adapt to public reporting suggests it will persist with "operations for the foreseeable future" and continue to evolve its tactics, Recorded Future warned.
A Russian espionage group attacked multiple organizations to steal credentials using Microsoft Teams chats that appear to originate from technical support. Microsoft on Wednesday attributed the campaign to a threat actor originating in the Russian Foreign Intelligence Service.
Ilya "Dutch" Lichtenstein, 35, confessed in U.S. federal court to hacking billions of dollars from virtual currency exchange Bitfinex and laundering stolen funds with his 33-year-old wife, Heather Morgan. Lichtenstein pleaded guilty to conspiracy to commit money laundering.
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