Police in Nigeria this week arrested a 37-year-old man who's been charged with masterminding "a criminal syndicate tied to massive business email compromise and phishing campaigns," Interpol reports. But with known BEC losses last year exceeding $2.4 billion, will the arrest have a noticeable impact?
A majority of financial institutions have reported a rise in account opening fraud and payment scams, which is expected to continue and cause losses for banks, says Trace Fooshee, strategic adviser at Aite-Novarica Group. He discusses new technologies to put in place to mitigate scam attacks.
Abnormal Security has closed a $210 million funding round on a $4 billion valuation to apply its account takeover prevention technology to areas other than email. The company wants to use its AI to protect accounts across systems and SaaS platforms and in environments such as Workday and Salesforce.
In the today’s digital world, when so much of our lives are online, identity verification and authentication are critical to addressing fraud-related risk management challenges. To prevent fraud and protect your business and your customers, you must be certain the people you are dealing with are who they represent...
Today’s sophisticated cyberattacks combine multiple tactics that include social engineering, zero-day malware and 3rd party OAuth app abuse. Threat actors employ tactics across email, cloud and web that target specific people in your organization to breach your environment and access sensitive data. Hybrid work...
From the billions pumped into unemployment and other economic relief programs during the pandemic to competitive marketing campaigns designed to increase customer acquisition, fraudsters have never had a better incentive to commit new account fraud. This session will highlight the problems financial institutions are...
Skyrocketing attack rates, double and triple extortion, increasing ransom demands… cybercriminals are inflicting pain in every way imaginable when it comes to today’s ransomware attacks. And you need to be prepared to protect your network, NOW.
Find out the steps you need to take to minimize damage to your...
Microsoft says it has seized control of 65 domains that the ZLoader gang has been using to grow, control and communicate with its botnet. ZLoader, a descendant of the ubiquitous Zeus banking malware, is run by a global, internet-based, organized crime gang operating malware as a service.
As organizations are adapting to rapid increases in digital transformation and the use of cryptocurrency, which has revolutionized how payments, investments, and banking are done, this means fraudsters are even more hard at work to exploit weaknesses.
The cryptocurrency landscape operates under increased risk of...
Many organizations face an upward battle when detecting and preventing fraud.
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How the effects of the pandemic propagate new fraudulent scenarios
What attributed to the staggering $5.4 trillion global cost of...
A yearlong joint operation by law enforcement agencies across several countries led to the shuttering of darknet marketplace RaidForums and the seizure of three domains hosting the website. Its 21-year-old alleged founder and two unidentified co-conspirators have also been arrested.
In the latest "Proof of Concept," Lisa Sotto, partner and chair of the global privacy and cybersecurity practice at Hunton Andrews Kurth LLP and David Pollino, former CISO at PNC Bank, join Information Security Media Group editors to discuss U.S. regulatory trends and supply chain risk management.
Every customer expects highly personalized onboarding interactions featuring tailored touchpoints, minimal friction and accelerated approvals. How can an elegant onboarding experience help add more accounts and reduce customer abandonment? This infographic from LexisNexis® Risk Solutions provides tips on how to:...
Many organizations face an upward battle when detecting and preventing fraud. Consumers continue to rapidly migrate to digital channels and while organizations are also moving towards digitizing products and services to increase profit, it all comes at a price. Where transactions occur, fraudsters follow, seeking out...
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