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.
The takedown of Gameover Zeus taught law enforcement and banks many lessons, including that Trojans are being used to steal corporate secrets, not just money, says Eward Driehuis of Fox-IT, which investigated the threat actors behind the Trojan.
Bank-owned digital payments network clearXchange is rolling out a real-time payments platform that will be available to 100 million online banking customers. Security experts weigh in on the fraud concerns.
A new breach reported by Heartland Payment Systems won't get much attention. But this incident could be more damaging to the undisclosed number of consumers affected than was Heartland's 2008 payment card breach.
Wire fraud perpetrated via business email compromises has quickly become a top concern for banking institutions. Now one bank fraud executive predicts this type of fraud could exceed $1 billion this year.
It's no surprise that virus-wielding hackers are exploiting Internet of Things devices. Blame too many device manufacturers rushing products to market, skimping on secure development practices and failing to audit the third-party code they use.
Caffeine junkies are up in arms over reports that criminals have been targeting their Starbucks account balances. But the real story is poor password-picking practices by consumers, and Starbucks' lack of multi-factor authentication.
Attitudes about cyberthreat information sharing, as well as attack attribution, have dramatically changed in the last 18 months, says the FS-ISAC's Bill Nelson, a featured speaker at RSA Conference 2015.
While the Indian finance ministry has announced incentives for banks to curb cash transactions and encourage the use of payment cards, security experts caution CISOs about authentication and fraud risk.
An upcoming series of summits on fighting financial fraud and mitigating advanced persistent threats will provide timely insights from industry thought leaders on the critical steps to take to address emerging risks.