While DDoS attacks were once deemed primarily a nuisance, experts now say they're becoming a routine strategy cybercriminals use as part of a campaign to commit fraud or extortion. What are the four key attack trends to watch out for in 2016?
Three Greek banks are the latest DDoS shakedown targets of online attackers, who demanded a payment of 20,000 bitcoins ($7.2 million) to cease their attempted banking site disruptions. Security experts say such attacks are on the rise.
The quantity and duration of distributed denial-of-service attacks continue to increase. The latest attacks are being launched via MySQL servers infected with Chikdos malware, as well as compromised Internet-connected CCTV systems, researchers say.
International law enforcement agencies are warning banking institutions and businesses about extortion attacks being waged by an entity known as DD4BC, or DDoS for Bitcoin. They're advising organizations not pay any ransom and to notify their ISPs and law enforcement officials of any threats.
The U.K. National Crime Agency has charged four teenagers with using the "Lizard Stresser" distributed denial-of-service tool to disrupt the websites of a national newspaper and a school, as well as gaming companies and online retailers.
The prices for stolen payment card data and other cybercrime products and services on Russian underground forums continue to fall. But the cybercrime ecosystem is more automated, effective and robust than ever, Trend Micro reports.
Police in Finland are investigating a series of DDoS attacks against the country's OP Pohjola financial services group that have intermittently shut down online banking and direct debit services. The hacking group "CoreSec" has claimed credit.
Leading this week's industry news roundup, FireEye Inc. announced the rollout of FireEye OS 7.1., an update to the FireEye OS. See additional news from Arbor Networks, HID Global and more.
The financial services industry is not collaborating effectively to address online payment risks, says Scott Dueweke of Booz Allen Hamilton, who offers insights on effective fraud-fighting steps.
While U.S. payments networks and card issuers are planning to transition to EMV cards, Gartner analyst Anton Chuvakin says they could be wasting their time. It may be too late for this chip technology in the U.S.
Inadequate authentication is among the greatest security challenges for online payments, says Scott Dueweke of Booz Allen Hamilton, who suggests biometrics needs to play a bigger role.
Fraud Summit Video Series - New York 2013 - Payment Card fraud remains a top challenge for financial institutions. The latest wrinkle: Breached retailers and payments processors such as Schnucks and Global Payments, whose compromises led to wholesale card fraud. Card issuers absorb increasing losses linked to debit...
Fraudsters are using DDoS to distract banks during account takeover attempts, says fraud prevention expert Avivah Litan, who highlights DDoS trends to watch in 2014 and reviews how attack techniques have evolved in the last year.
Communication is key in the wake of a cyber-attack, says Dennis Simmons of SWACHA, who explains how simulated attack drills will help banks overcome their information sharing challenges.
The Fraud Summit, to be held Oct. 22, will provide timely insights on top trends and strategies for mitigating risk. A keynote address will offer a close look at Chase Bank's anti-fraud strategies.
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