The FBI estimates fraud losses linked to so-called business email compromise scams worldwide have exceeded $1.2 billion in less than a year. But some financial fraud experts say the losses from this largely overlooked threat could be even higher.
A $46.7 million fraud scheme that hit Ubiquiti Networks Inc. shows the new & improved face of wire fraud - and just how easy it is for cybercriminals to fool employees into helping to pilfer their own enterprises.
Carphone Warehouse, a U.K.-based mobile phone retailer, is investigating a cyber-attack that may have breached personal information associated with up to 2.4 million customers, and card data linked to 90,000 accounts.
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.
An unconfirmed post-breach report for bitcoin exchange Bitstamp shows the organization was targeted by a sustained attack that combined phishing via email and Skype with macro malware to successfully steal almost 19,000 bitcoins, worth $5 million.
Cisco announced plans to pay $635 million to purchase cloud security firm OpenDNS to better secure the "Internet of Everything." OpenDNS says the acquisition will leave its products and personnel intact.
Those advocating the use of the ".bank" top-level domain argue that it offers better security than ".com." In part one of a two-part interview, Craig Schwartz of fTLD Registry Services and Doug Johnson of the ABA explain the security provisions.
Wipro has developed a fraud detection model for improved risk management using big data analytics. Can CISOs leverage it to reduce risk, enhance process efficiency and refine fraud detection algorithms?
Symantec has issued new warnings about a malware strain known as Poweliks, noting that this Trojan is being used in conjunction with ransomware. But security experts disagree over the severity of the threat.
An international police effort dubbed "Operation Triangle" has resulted in the arrest of 49 suspected members of a cybercrime group accused of launching phishing attacks to steal at least $6.7 million.