The advent of faster payments has helped accelerate authorized push payment fraud schemes in which victims are defrauded under false pretenses. Banking regulators are responding to the trend, and Rob Tharle of NICE Actimize offers advice for multilayered defense.
Tharle, a Fraud and Authentication Subject Matter...
Machine learning is one of the tools that you should be using as part of a multifaceted fraud strategy at financial institutions. To get value out of ML, you need to have multiple inputs. You have to have an intelligence network and the location to gather all that network intelligence.
Download this eBook on the...
FIN6, a cybercrime group that has focused on attacking point-of-sale devices to steal credit card numbers, now also is waging ransomware attacks that target businesses with either LockerGoga or Ryuk, according to a new analysis from security firm FireEye.
Ex-black hat Alissa Knight recently joined Aite Group's new cybersecurity practice, and among her first tasks: a hard look at the security of major financial institutions' mobile banking apps. The results may surprise you.
If you run a Magento-powered e-commerce site, it's time to patch again. E-commerce sites continued to be targeted by cybercriminals seeking to steal payment card data, and experts recommend moving quickly to plug the most critical flaw, a SQL injection vulnerability.
Some 96 percent of all compromised payment cards have been issued by U.S. banks, reflecting not only the prevalence of credit cards held by Americans, but the relative ease with which they can be used for fraud, says Liv Rowley, a threat intelligence analyst at Blueliv.
The latest edition of the ISMG Security Report discusses the recent ransomware attack on aluminum giant, Norsk Hydro. Plus, confessions of a former LulzSec and Anonymous hacktivist, and the growing problem of cyber extortion.
Script-based payment card malware continues its successful run, impacting a range of e-commerce sites, security researchers warn. With fraudsters continuing to refine their tactics, countering card-sniffing scripts continues to be difficult.
Banks can drive real value to their fraud prevention strategies with machine learning and analytics if they cut through the hype. Machine learning can be made intuitive and available directly to fraud experts. A multi-faceted strategy can turn fraud prevention expertise into a revenue generator for the...
With the increasing speed of payments comes more pressure on financial institutions to not only compete but to ensure they have appropriate fraud controls in place to keep pace. Risk is inevitable with a growing faster payments environment, but there are many benefits and technology advancements that provide...
A closely held type of point-of-sale malware, DMSniff, is spreading further while another, GlitchPOS, has also emerged. Despite a surfeit of stolen payment card details on the black market, efforts to steal more continue, highlighting the continuing challenges around card security.