Fraudsters continue to get new tricks up their sleeves. Criminals are increasingly using Apple Pay, setting up mobile call centers to socially engineer victims as well as tricking consumers via fake e-commerce sites that never fulfill orders, fraud-fighting experts warn.
Authorities in Bangladesh are investigating hacker attacks against at least three banks in that nation last month. Dutch Bangla Bank Ltd. lost as much as $1.4 million in an attack, which apparently involved planting malware in an ATM switch, according to news reports.
WhatsApp, the messaging service owned by Facebook, says it's ready to launch its digital payment services, WhatsApp Pay, in India following its beta test. But the Supreme Court says WhatsApp first must comply with RBI's data localization requirements.
Many corporate boards of directors in India have made progress in recognizing cybersecurity as a priority. But clearly, they still have a lot of work to do. Panelists at a recent ISMG summit in Bengaluru offer insights.
Criminal gangs have been hitting e-commerce sites hard lately by injecting their malicious code to "skim" customers' payment card details. In a recent twist, Malwarebytes spotted a malicious iFrame that steps in front of the normal payment process to intercept card details.
At this week's Information Security Media Group Fraud & Breach Summit in Bengaluru, India, national cybersecurity coordinator Lt. Gen. (retired) Rajesh Pant spoke about the challenges facing the country over the coming years.
The Reserve Bank of India is proposing that financial technology firms be allowed to test new products and services that might require the relaxation of certain compliance regulations in what's called a "regulatory sandbox" approach.
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.
Fifty-four percent of survey respondents say their institutions' digital authentication measures are average or below when compared to their peers. And 55 percent rate themselves at average or below when it comes to their institution's current ability to apply the right amount of security to the right transactions at...
Identity and access management is more complicated when organizations rely on a cloud infrastructure, says Brandon Swafford, CISO at Waterbury, Connecticut-based Webster Bank, who describes the challenges in an interview.
Just days after Drupal warned of a "highly critical" flaw in its web services modules, hackers came calling, exploiting the content management system vulnerability to install cryptocurrency miners and other malicious software on sites, security experts warn.
The notorious carder site Joker's Stash is featuring a fresh batch of Pakistani banks' payment card data with an estimated street value of $3.5 million. Nearly all of the 70,000 bank cards are advertised as being from Meezan Bank, the country's largest Islamic bank, Group-IB reports.
This Valentine's Day, authorities are once again warning individuals to watch out for anyone perpetrating romance scams. The FTC says Americans lost $143 million to romance scams in 2017, while in the U.K., Action Fraud says reported romance scam losses in 2018 topped $64 million.
Banks need to work toward improving collaboration between their cybersecurity and fraud management departments to boost efforts to mitigate cyberthreats, say Scott Walters and Eric Reddel of the consultancy Booz Allen Hamilton.
Identity theft is the fastest growing crime in the US. Globally, 1 in 60 online transactions are fraudulent. And if you don't know who your customers are, you can't onboard them to your platform.
Though businesses are moving online, their identity verification and KYC processes haven't. Instead, the old processes...