Cryptocurrency exchanges are seeing fraudsters submit doctored photos in an attempt to reset two-step verification on accounts. The ruse appears to have some degree of success, underscoring the difficulties around verifying identity on the internet.
Identity theft is the fastest growing crime in the US and accounts for half of all reported fraud in the UK, with 1 in 60 online transactions attempted globally being fraudulent.
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Identity theft is the fastest growing crime in the US. Globally, 1 in 60 online transactions are fraudulent. And if you don't know who your customers are, you can't onboard them to your platform.
Though businesses are moving online, their identity verification and KYC processes haven't. Instead, the old processes...
In 2018, the Identity Theft Resource Center counted 1,244 U.S. data breaches - involving the likes of Facebook, Marriott and Exactis - that exposed 447 million sensitive records, such as Social Security numbers, medical diagnoses and payment card data.
Massive data brokers - Equifax, Experian, Illion and others - are leveraging Australia's electoral roll, which is a tightly held and valuable batch of data. While this little-known practice might sound alarming, in fact it's required under Australia's anti-money laundering and anti-terrorism rules.
Breach victims who sign up for free fraud-monitoring services from breached businesses that lost control of their data often sign away their right to join class-action lawsuits or pursue other legal actions, and Marriott proved to be no exception, following its mega-breach. But it now appears to be backing off.
Is there anything better than being offered one year of "free" identity theft monitoring? Regularly offered with strings attached by organizations that mishandled your personal details, the efficacy and use of such services looks set for a U.S. Government Accountability Office review.
Victims of the massive Marriott International data breach, which exposed data for 500 million customers, including some passport numbers, may be able to claim reimbursement for the cost of obtaining a replacement passport, provided they can prove it led to fraud.
Credential abuse attacks and identity theft incidents are rising, with attackers leveraging botnets to launch coordinated campaigns with high success rates, says Aseem Ahmed of Akamai Technologies, who shares best practices for mitigating the threats.
The Indian Railway Catering and Tourism Corp. took two years to fix a security vulnerability that could have given hackers unfettered access to the personal information of passengers, a researcher claims. Some security practitioners question whether government agencies pay enough attention to data security.
British Airways has discovered that hackers compromised payment card data and personal details for 185,000 more customers than it had originally suspected and that its systems were first breached not in August, but April. The airline now counts 429,000 data breach victims.
This week's edition of the ISMG Security Report features an analysis of whether the U.K.'s fine of Facebook for the Cambridge Analytica scandal is just the beginning of regulatory enforcement action. Plus: A potential settlement of Yahoo breach lawsuit and tips on securing data in the cloud.
A proposed agreement that would settle a class action suit against Yahoo over devastating data breaches could see the company pay as much as $85 million. That adds to the $35 million fine levied by the SEC earlier this year, showing the high price to be paid for Yahoo's record data breaches.