Contact centers increasingly are the key "soft" targets for fraudsters who impersonate legitimate customers to alter or obtain information. This information is then used to facilitate direct and cross-channel fraud, which can be very difficult to tie back to the call-center entry point. How do fraudsters conduct these...
Fraud Ecosystem
In June this year the "Ronald Reagan" batch of credit cards (potentially those stolen from PF Chang's) joined the "Barbarossa" batch from Target in becoming publicly available for purchase. Featured on the popular Rescator card shop (stolen card data marketplace), with advanced features like money...
Criminals and terrorists use sophisticated techniques to hide their true location, and many banks or other businesses become victims of such location spoofing - thus violating OFAC regulations that prohibit business transactions with specific countries, entities, or individuals.
To be compliant with OFAC...
Call center data and logs can help banks predict account-takeover attempts across multiple banking channels, says fraud expert Matt Anthony, a presenter at ISMG's upcoming Fraud Summits in Toronto and London.
Information Security Media Group recently hosted a Twitter chat on the latest fraud trends featuring analyst Avivah Litan, director of research at Gartner, Read the entire transcript of the #ISMGprotalk Twitter chat.
Internet hygiene is not up to par, say cybersecurity experts Tom Kellermann and Rod Rasmussen, who explain why bad hygiene has led to increased botnet traffic and malware infections.
A Tennessee utility has sued its bank after a $327,000 account takeover incident. This new case shows why institutions must go above and beyond when it comes to detecting and thwarting fraud losses.
No question, the information security community - and all of us at ISMG -- lost a friend with the untimely death of Terry Austin, CEO and President of Guardian Analytics.
A new impersonation scheme is taking aim at business executives to perpetuate ACH and wire fraud, says Bank of the West's David Pollino, who explains steps institutions should take now to protect their customers.
A Missouri-based escrow firm is considering taking its fraud case all the way to the Supreme Court now that an appellate court has denied a request to have its case involving a $440,000 account takeover loss reheard.
The use of smartphones, tablets, and other mobile devices to conduct online transactions has rapidly grown into a standard practice. A large percentage of these now-common mobile transactions are completed using mobile apps. Unfortunately, crime associated with their use has increased correspondingly, resulting in a...
In 2011, the FFIEC issued guidance requiring financial institutions to beef up their online authentication and fraud prevention efforts. Yet today, account takeover is more rampant than ever. Professional cybercrime crews easily circumvent common anti-fraud measures to steal millions from banks and credit...
An incident involving hackers posting false "news" on The Wall Street Journal's Facebook page demonstrates again why organizations must ramp up efforts to protect social media accounts to avoid reputational harm.
If ever we could say banking institutions are mad as hell and not going to take it anymore ...
In the wake of the Target, Neiman Marcus and other retail breaches, banking/security leaders clearly feel abused and frustrated - and they want to see changes in how merchants conduct and process secure payments. This is...
Choice Escrow is seeking a bench review of a recent appellate court ruling, which favored its former bank in an ACH fraud dispute. The firm argues the court set a bad precedent for future disputes by limiting Uniform Commercial Code protections.
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