Cybercriminal gangs operating darknet stolen payment card marketplaces are scrambling to attract customers from the now-closed Joker's Stash card market, according to the security firms Kela and Flashpoint.
Other darknet marketplaces apparently are preparing to fill the underground economy's need for a steady stream of stolen payment card data if the Joker's Stash site closes Feb. 15 as its administrator has announced. Some researchers believe the administrator may even launch a new marketplace.
Joker's Stash, the notorious underground marketplace that has specialized in the sale of stolen payment card data, is reportedly shutting down in February with its administrator claiming he will "retire" at that time, according to Gemini Advisory. Researchers say fraudsters will quickly move to other sites.
Facebook's relaunch and rebrand of its Libra digital payment initiative as Diem is seen by some as a shadow of its former self. Financial services commentator Chris Skinner explains why state governments and AML concerns are to blame.
Identity management will be at the forefront of securing remote work in the coming year. Jason Bohrer, new leader of the Secure Technology Alliance and the U.S. Payments Forum, describes key initiatives as he steps into this role.
This exclusive report explores the hidden value of payments. Partnering with Oxford Economics, Checkout.com talked to 1,500 business leaders and 5,000 consumers to uncover previously unknown insights.
It delves into the true cost of false declines to merchants and the digital economy, what customers are willing to...
E-commerce has skyrocketed in 2020, but so have transaction disputes. Ryan Battles of EY explains the cause, the impact, as well as how merchants can reduce incidents of this so-called "friendly" fraud.
A recently uncovered point-of-sale malware called "ModPipe" is targeting Oracle software used by thousands of restaurants and other businesses in the hospitality industry, according to researchers at ESET. This backdoor can then steal sensitive data, such as cardholder names.
COVID-19 accelerated everything else digital; why not fraud, too? In this latest CEO/CISO panel, cybersecurity leaders talk frankly about the pace and scale of new fraud schemes from business email compromise to card not present to insider risk.
Ransomware attacks remain the top cyber-enabled threat seen by law enforcement. But phishing, business email compromises and other types of fraud - many now using a COVID-19 theme - also loom large, Europol warns in its latest Internet Organized Crime Threat Assessment.
The COVID-19 pandemic has shifted the dynamic of card fraud in favor of the fraudsters due to the massive increase of online transactions, says Andrei Barysevich of the fraud intelligence company Gemini Advisory. And many fraudsters are using more sophisticated tools, including anti-fingerprinting technology.
The shift to online shopping - and card-not-present transactions - during the COVID-19 pandemic has driven fraudsters to shift their strategies, including ramping up efforts to open fraudulent accounts, says Gord Jamieson of Visa, who offers advice on mitigating the risks.