"Give us your broke, your desperate, your unemployed." This is the tacit plea from fraudsters seeking to lure new "money mules" to enable their money-laundering schemes.
And the recruitment effort is working to the point that the Federal Deposit Insurance Corporation (FDIC) last week issued an alert to financial...
A computer technician has been indicted in New York Supreme Court, charged with stealing the identities of more than 150 Bank of New York Mellon employees and using them to steal more than $1.1 million from charities, non-profit groups and other entities.
Adeniyi Adeyemi, a 27-year-old man from Brooklyn, was...
From ACH to ATM, payments to phishing, fraud schemes abound. And bank customers and businesses are the targets.
So what can banking institutions do to fight back?
Bob Neitz is the senior vice president in charge of the Fraud Corporate Risk Management Program at Wells Fargo. In an exclusive interview, Neitz...
Commercial banking customers continue to be the hot targets of online crime, as additional U.S. businesses report money stolen from their accounts following the FDIC's alert in late August .
Among the recent incidents: In mid-Sept., fraudsters siphoned $150,000 from a fuel company in Maine, while earlier this month...
Bogus security software applications are among the types of electronic crimes that grew 585 percent over the first half of this year, according to a new study.
The Anti Phishing Working Group's (APWG) latest report shows that rogue anti-malware programs, infected computers and crimeware broke new records in the...
The FDIC has warned banks: Online crime is increasingly hitting small and mid-size companies in the U.S., draining those entities' bank accounts through fraudulent transfers.
So, how should banks respond to this alert and assist their business customers?
Doug Johnson of the American Bankers Association...
The landscape of hackers is filled with stories from those whose job is to hunt them down. SANS forensics instructor, Rob Lee, also a senior forensics consultant at the IT security consultancy Mandiant shares three "villain" examples of the types of attacks being seen in the field by the company's forensic...
Last week's alerts about online crime against small and mid-sized companies is a signal to financial institutions that it's time to take an even more aggressive approach to fraud monitoring and prevention. Which is exactly what one state banking association is doing.
The FDIC has warned banks: Online crime is increasingly hitting small and mid-size companies in the U.S., draining those entities' bank accounts through fraudulent transfers.
So, how should banks respond to this alert and assist their business customers?
Doug Johnson of the American Bankers Association...
Online crime is increasingly hitting small and mid-size companies in the U.S., draining those entities' bank accounts through fraudulent transfers. The problem has gotten so bad that a financial services group recently sent out a warning about the trend, and the Federal Deposit Insurance Corporation (FDIC) issued an...
The fraud fight is getting nastier by the minute, say experts familiar with the new schemes - and some old ones with new wrinkles -- being perpetrated by criminals against financial institutions and their customers. Here are 13 of the most prevalent ruses.
Payroll fraud, kiting - these are among the latest threats to Automated Clearing House (ACH) payments, which are gaining extra attention from fraudsters.
There will be 25 billion ACH transactions occurring annually by 2010, estimates NACHA, the electronics payment association. Many of these transactions will be...
Check fraud has long been a concern for banks, and in today's age of electronic banking one of the greatest threats is Automated Clearing House (ACH) fraud - batch-processed transactions between banks. In this interview, fraud expert Mike Mulholand, Director of Fraud Solutions Strategy at Memento, Inc., offers...
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