The FIN7 cybercrime gang regularly phoned victims, posing as buyers, to trick victims into opening phishing emails and attachments with malware, federal prosecutors allege. The group's success - 15 million stolen payment cards and counting - is one measure of how difficult these types of attacks are to block.
Russian national Mikhail Malykhin, who was illegally residing in the U.S., has received a 70-month prison sentence after admitting to hack attacks and conspiring to use fraudulent debit cards issued via a hacked healthcare benefits administrator.
Sometimes efforts to prove a system is secure can really backfire. TRAI Chairman R.S. Sharma's attempt to demonstrate Aadhaar security by tweeting his Aadhaar number on Saturday and inviting anyone to attempt to use it to access his personal information reportedly led to data access by ethical hackers.
The fight against fraud in a cashless economy requires investments in technologies that can offer early warning signals, says Bharat Panchal, senior vice president and head of risk management at National Payment Corporation of India.
The Reserve Bank of India issued a notice to all cooperative banks advising them to apply caution while deploying third-party core banking applications and check for appropriate security standards. The move came after credential theft incidents at some banks. But will banks heed the advice?
Magecart, the criminal group behind the recent data breach at certain Ticketmaster websites, may have also hit the company's sites in Australia, New Zealand, Turkey and Hungary, according to RiskIQ, which says the group's digital payment card skimmers may also affect as many as 800 other e-commerce sites.
Aite's Julie Conroy calls it a "perfect storm." In the post-EMV U.S., and in the wake of massive data breaches and the move to mobility, financial institutions are besieged by a new flood of new account fraud. How can data analytics help them improve fraud prevention?
If 2017 was the year of ransomware innovation, 2018 is well on its way to being known as the year of cryptocurrency mining malware. Numerous studies have found that the most seen malware attacks today are designed for cryptojacking. But while ransomware campaigns may be down, they're far from out.
Cryptocurrency money laundering is increasing dramatically, being already three times greater than in 2017. And we're only half way through the year, observes Dave Jevans, Founder and CEO of CipherTrace, and chairman of the Anti-Phishing Working Group.
What are hot cybersecurity topics in Scotland? The "International Conference on Big Data in Cyber Security" in Edinburgh focused on everything from securing the internet of things the rise of CEO fraud to the origins of "cyber" and how to conduct digital forensic investigations on cloud servers.
One of the key lessons offered at ISMG's Fraud & Breach Prevention Summit, held June 12-13 in Bengaluru, was the need for security practitioners to have a better perception of threats and risks so they can build successful detection and defense mechanisms.
Leading the latest edition of the ISMG Security Report: An analysis of how distraction tactics were used during a $10 million SWIFT-related hack at Banco de Chile. Also, a wrapup of Infosecurity Europe.
Banco de Chile has become the latest victim of a SWIFT-related malware incident. Attackers first corrupted thousands of PCs' master boot records as a distraction. Then they used fraudulent SWIFT messages to steal $10 million.