The Zeus threat is striking businesses and financial institutions throughout the world, and it's suspected to be the malware behind recent attacks on mobile devices.
A federal crackdown on ACH and wire fraud has produced 37 arrests of a money mule operation - part of what law enforcement is calling a sophisticated bank fraud scheme.
Robert Siciliano, a McAfee security consultant and founder of IDTheftSecurity.com, says socially engineered scams that are SMS/text-based will create big headaches for banks and credit unions in the near future.
The arrests of 19 people in London has England's Scotland Yard unraveling what appears to be an online banking scheme that stole at least $9 million from banking customers.
With all the publicity these fraud incidents have received this year - all the warnings from regulators and institutions alike - I cannot believe awareness is so low.
The FDIC-related vishing scam is but one in a number of targeted vishing attacks reported in recent months - a reflection of the growing sophistication of the criminals who perpetrate socially engineered schemes.
California's Financial Abuse Reporting Act, SB 1018, which requires employees of banks and credit unions to report suspected financial elder abuse, recently saved some seniors in the San Jose area a lot of financial loss.
A review of this with week's top stories by managing editor Tracy Kitten: California Eyes Stronger Privacy Law; IBM Expert Offers Views on Top Security Trends and Fraud Risks.
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