Now that the Federal Reserve has issued a definition for synthetic ID fraud, fraud-fighting efforts likely will improve because it will be easier to identify red flags, some security experts say.
A security researcher found more than 500 million Facebook records being offered for free on the darknet, exposing basic user information, including any phone numbers associated with the accounts. Facebook says this is “old data” previously reported as exposed.
Synthetic identity fraud is a pervasive yet ill-defined crime – hard to define as well as to detect. Greg Woolf of FiVerity discusses a recent initiative by the Federal Reserve in Boston to better define and therefore better manage SIF.
This year's brisk cybersecurity sector M&A activity is continuing, with five more deals announced in the last two weeks. Here's a rundown of the latest activity.
To mitigate the fraud risks posed by synthetic IDs, banks should use consumers' devices to help with authentication, says Karen Boyer, vice president of financial crimes and fraud intelligence at People’s United Bank, based in Connecticut.
In financial services, there is a stark difference between defending against authorized versus unauthorized fraud incidents. James Hunt of Bottomline Technologies discusses the schemes and how to respond with a more dynamic prevention strategy.
Asian organizations are beginning to look at extending digital identity beyond the traditional internal enterprise IAM stack to customer identity and access management, or CIAM, says Alex Laurie, senior vice president at ForgeRock.
The latest edition of the ISMG Security Report features an analysis of a federal crackdown on ICO cryptocurrency scams. Also featured: An update on the SonicWall hack investigation and the use of digital IDs to verify COVID-19 testing.
The Good Health Pass Collaborative is developing a road map for digital health passes that international travelers could use to prove they have been tested for COVID-19. Dakota Gruener, executive director of ID2020, which launched the project, describes the effort, including privacy-protection measures.
Security firms Crowdstrike, Palo Alto Networks and Sailpoint are making acquisitions to bolster their product portfolios. Here's a rundown of the deals.
The "Cuba" ransomware gang has hit Seattle-based Automatic Funds Transfer Services, which processes data from California's Department of Motor Vehicles as well as many cities in Washington. Victim organizations say AFTS is investigating the incident and that an unknown amount of individuals' data was exposed.
Julie Conroy of Aite Group and Shai Cohen and Lee Cookman of TransUnion analyze a new report that explains why synthetic identity fraud poses a long-term threat.
The ongoing lockdown may be complicating the path of Cupid's arrows. But as another Valentine's Day rolls around, authorities are warning that romance scammers - and other types of fraudsters - are alive and well and have been increasingly preying on unsuspecting victims around the world.
As federal regulators intensify their focus on compliance with requirements to provide patients with access to their health information, healthcare organizations need to sort through a variety of emerging challenges, says health information management and privacy expert Rita Bowen.
What's needed to make a shift from traditional IAM to CIAM? To start, an organization needs to look at fraud detection solutions and risk-based authentication technologies such as device intelligence and behavioral biometrics, says David Britton of Experian.
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