The U.S. Department of Justice on Friday charged 10 individuals with using business email compromise and money laundering schemes to target public and private insurers. These schemes targeted Medicare, state Medicaid programs, private health insurers and numerous other victims.
User education is vital to boosting the detection rate of phishing emails or social engineering scams that could lead to data breaches or ransomware infestations. Technology alone can't make websites or email inboxes safe since both are business-critical for all users, says ID Agent's Amelia Paro.
Four ISMG editors discuss how security leaders determine the right level of security for the business, the growing risk of business ID theft to enterprises, and the arrest of a developer suspected of working for cryptocurrency mixing service Tornado Cash, for "facilitating money laundering."
Denis Mihaqlovic Dubnikov, 29, allegedly participated in a conspiracy to launder money obtained through Ryuk ransomware. Operators behind the malware mounted one of the largest cyberattacks against the healthcare sector in a fall 2021 ransomware spree.
Dutch police have arrested a man accused of working as a developer for Tornado Cash. "He is suspected of involvement in concealing criminal financial flows and facilitating money laundering through the mixing of cryptocurrencies via the decentralized Ethereum mixing service," Dutch authorities say.
In the latest weekly update, four ISMG editors discuss the breach of customer engagement platform Twilio, a cyberattack on the U.K.'s NHS that has reignited concerns about supply chain security in the healthcare sector, and the U.S. Treasury clamping down on shady cryptocurrency mixers.
A high-ranking employee at Bitcoin Mercantile Exchange, or BitMEX, has pleaded guilty to violating the Bank Secrecy Act, which requires financial institutions to help prevent money laundering. The plea by Gregory Dwyer follows BitMEX's three founders all pleading guilty to the same charge.
How can you leverage artificial intelligence and make sense of data from different industries to determine whether a customer is creditworthy or whether an account is a mule account? Guy Sheppard, general manager of financial services at Aboitiz Data Innovation, discusses a case study.
There has been a rise in crypto fraud, and a substantial portion of it can be attributed to stimulus funding and paycheck protection programs, says David Britton, vice president of strategy, global ID and fraud at Experian. He discusses new authentication methods and stricter regulations.
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...
Expectations for AML Responsible Officers and their operational teams are increasing in response to the combination of new techniques for money laundering, organised crime, geopolitical issues and new actors. To meet these increased expectations, operational resilience and sustainability using intelligent analytics...
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. ...
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...