Police in Nigeria this week arrested a 37-year-old man who's been charged with masterminding "a criminal syndicate tied to massive business email compromise and phishing campaigns," Interpol says. But with known BEC losses last year exceeding $2.4 billion, will the arrest have a noticeable impact?
A majority of financial institutions have reported a rise in account opening fraud and payment scams, which is expected to continue and cause losses for banks, says Trace Fooshee, strategic adviser at Aite-Novarica Group. He discusses new technologies to put in place to mitigate scam attacks.
Abnormal Security has closed a $210 million funding round on a $4 billion valuation to apply its account takeover prevention technology to areas other than email. The company wants to use its AI to protect accounts across systems and SaaS platforms and in environments such as Workday and Salesforce.
With the rising number of digital identity fraud cases in Asia Pacific, understanding the types of fraud and exploring ways to prevent it while ensuring a smooth and seamless experience plays an important role in your business.
While there’re no foolproof ways in stopping fraud completely, early detection and...
In the today’s digital world, when so much of our lives are online, identity verification and authentication are critical to addressing fraud-related risk management challenges. To prevent fraud and protect your business and your customers, you must be certain the people you are dealing with are who they represent...
In the today’s digital world, when so much of our lives are online, identity verification and authentication are critical to addressing fraud-related risk management challenges. To prevent fraud and protect your business and your customers, you must be certain the people you are dealing with are who they represent...
A yearlong joint operation by law enforcement agencies across several countries led to the shuttering of darknet marketplace RaidForums and the seizure of three domains hosting the website. Its 21-year-old alleged founder and two unidentified co-conspirators have also been arrested.
In the latest "Proof of Concept," Lisa Sotto, partner and chair of the global privacy and cybersecurity practice at Hunton Andrews Kurth LLP and David Pollino, former CISO at PNC Bank, join Information Security Media Group editors to discuss U.S. regulatory trends and supply chain risk management.
Many organizations face an upward battle when detecting and preventing fraud. Consumers continue to rapidly migrate to digital channels and while organizations are also moving towards digitizing products and services to increase profit, it all comes at a price. Where transactions occur, fraudsters follow, seeking out...
Findings from the latest LexisNexis® Risk Solutions Cybercrime Report revealed that between July-December 2021, the mobile share of transactions in the LexisNexis® Digital Identity Network® reached 75% for the first time, as app-based transactions become the predominant means by which consumers transact globally. ...
In the latest weekly update, editors at Information Security Media Group discuss important cybersecurity issues, including the White House warning about escalated cyberthreats from Russia, the impact of the Russia-Ukraine war on the healthcare sector and why combating SIM swap fraud remains challenging.
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...
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