The PCI Security Standards Council on Thursday released the Payment Card Industry Data Security Standard version 4.0. The latest version's improvements are intended to counter evolving threats and technologies, and the new version will enable innovative methods to combat new threats.
The U.S. Department of Justice has indicted a 23-year-old Russian national for operating a cybercriminal marketplace that sold thousands of stolen login credentials, PII and authentication tools, according to U.S. Attorney Brit Featherston of the Eastern District of Texas.
Learn how advanced analytics and machine learning help financial organizations proactively detect and prevent fraudulent payments.
As new payment types proliferate globally, payment and identity fraud is also skyrocketing. In 2021, global card fraud losses hit a staggering $28.58 billion.
To survive and stay...
Russian authorities have continued to arrest alleged administrators of multiple Russian-language cybercrime markets and communities, including Ferum Shop, Sky-Fraud and Trump's Dumps. It follows last month's arrest of suspected REvil/Sodinokibi ransomware affiliates based in the country.
Understanding customer identities in the digital world is no easy feat: In the US, the average household has 10+ connected devices, and the average adult has 4 credit cards and over 100 online accounts.
Fraud teams must cut through the clutter to single out good and bad users, regardless of how many devices,...
The U.S. e-commerce website, PulseTV, recently disclosed a data security breach involving over 200,000 customer credit card details. It is believed that only customers who purchased products on the website with a credit card between Nov. 1, 2019 and Aug. 31, 2021 may have been affected.
2021 has been a dynamic year for fraud and financial crime, and the events that have emerged out of the quickly changing risk landscape continue to create new vulnerabilities for financial services organizations (FSOs).
Key fraud and AML trends of the past year have been particularly prevalent and are positioned...
2021 has been a dynamic year for fraud and financial crime, and the events that have emerged out of the quickly changing risk landscape continue to create new vulnerabilities for financial services organizations (FSOs).
Key fraud and AML trends of the past year have been particularly prevalent and are positioned...
Four editors at ISMG discuss important cybersecurity issues, including law enforcement agencies' crackdown on ransomware operations, how banks are building their technology stacks to counter card fraud and whether the "work from anywhere" model is beneficial for employees in the long term.
In order to counter card-not-present fraud, banks in South Africa need user and entity behavior analytics - or UEBA - and artificial intelligence says Deon Louw, head of fraud, RBB at Nedbank in South Africa.
Multiple cybercriminal groups appear to be targeting relatively new entrants in the space with phishing attacks. In what cybersecurity analysts at Group-IB call a "cannibalistic approach," these gangs are impersonating underground card shops to dupe the newbies for monetary gain.
Australia is currently the 10th largest ecommerce market in the world by revenue. The ecommerce market value is at $33.1 billion, with an estimated growth rate of 8.9% in 2021.
As digital transformation accelerates initiatives like revenue collection, customer loyalty, and brand awareness are now primarily online....
Neiman Marcus Group says it is notifying 4.6 million of its online customers who are affected by a data breach that occurred in May 2020. The data includes personally identifiable data, payment and gift cards, online account credentials and security questions.
In its latest quarterly fraud and payments report, Outseer notes a 58% increase in brand abuse - a trend that's only going to grow, says COO Jim Ducharme. He analyzes this and other fraud trends, including how to reduce fraud without compromising user experience.
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