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.
In the aftermath of the pandemic and global political unrest, the risks of identity and credential theft have surged, and a deluge of scams are exploiting the crisis. Consumers facing disrupted incomes seek credit solutions, and fraudsters seek to exploit them by using application fraud tactics.
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.
Although digital currencies have revolutionized the face of payments, investments, and banking, the heightened risk landscape that they operate on, brings together several features that cybercriminals value most.
This case study is about a digital currency exchange that allows users to buy and sell a variety of...
The world is moving on from magnetic stripe payment cards, with one notable exception: the United States. Credit card issuers, banks and consumers agree the magnetic stripe is prone to hacking - so why is one of the largest markets for plastic payment still clinging to decades-old technology?
Losses to fraud reported by Britain's financial services sector exceeded $1.5 billion in 2022, declining by 8% from 2021, says trade association UK Finance. About 40% of losses tied to authorized push payment fraud, in which victims get tricked into transferring funds to attackers.
Online sports retailer Sports Warehouse has agreed overhaul its security program and pay a $300,000 fine to New York State after hackers stole 20 years' worth of payment card data and customer information the company was storing in plaintext on its e-commerce server.
An Illinois man pleaded guilty Monday to eight criminal counts stemming from the three years he spent leading a conspiracy to sell stolen financial information on darknet markets. The man, Michael D. Mihalo, 40, founded a darknet carding site known as Skynet Market.
U.S. authorities revealed the Russian man behind a two-decade span of abetting cybercriminals' theft of credit cards, dismantled his online infrastructure and offered a hefty reward for information leading to his arrest. Prosecutors say the man, Denis Kulkov, ran a service now known as Try2Check.
Ukrainian law enforcement busted a transnational group of scammers that used more than 100 phishing websites to defraud Europeans. The scammers embezzled nearly $4.4 million by fooling more than 1,000 victims into handing over payment card details, police said.
Attackers are deploying modified MageCart malware against WordPress websites that use the WooCommerce shopping cart plug-in, says website security firm Sucuri. Hackers inject PHP and JavaScript code and hide stolen credit card numbers in .jpg files.
EMV chip technology has taken a major bite out of credit card fraud at the point of sale, but card-not-present fraud continues to flourish thanks to an age-old technology - the magnetic stripe, says Mark Solomon, international president, International Association of Financial Crimes Investigators.
Here's further proof many cybercriminals are rampant self-promoters: Credit card market BidenCash, which sells compromised payment card data, dumped 2 million payment cards for free. This shows that competition between carder markets - and increasingly, Telegram-based vendors - is fierce.
RiskRecon, a Mastercard company that provides cybersecurity risk ratings to enable better third-party security risk management, recently studied the impact of destructive ransomware incidents and the unique tie between ransomware susceptibility and an organization's cybersecurity posture. Kelly White, co-founder and...
RiskRecon recently studied the impact of destructive ransomware incidents and the unique tie between ransomware susceptibility and an organization's cybersecurity posture. Kelly White of RiskRecon discusses the findings and how to use them to help secure the digital supply chain.
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