Apparel retailer Forever 21 says point-of-sale systems in some stores were infected by malware for up to seven months, leading to the theft of customers' payment card data. The retailer says deactivated encryption technology on some POS devices exacerbated the severity of its breach.
Simulated attacks by an information security testing firm have found that fresh WannaCry, NotPetya and EternalRocks would still rip through many an enterprise network. Here's how organizations must respond.
The international payments system is largely based on the three-decades old SWIFT messaging system. But cyberattackers have exploited weak controls employed by banks to make fraudulent transfers. Nick Armstrong of Identitii discusses a path forward for securing payments made with legacy systems.
The hacker to whom Uber paid $100,000 to destroy data and keep quiet about its big, bad breach is a 20-year-old man living in Florida, Reuters reports. But numerous questions remain about the 2016 breach, including whether the payment was a bug bounty, extortion payoff or hush money.
A report on the SEC targeting a Canadian company for fraud, alleging it cheated investors by exploiting a so-called Initial Coin Offering crowdsourcing funding system, leads the ISMG Security Report. Also, an NSA analyst pleads guilty in a case involving storing classified data on his home PC.
Roman Seleznev, the son of a Russian lawmaker who earlier this year received one of the longest sentences ever handed down in the U.S. for computer-related crimes, has been slammed with two more 14-year sentences. He was a key figured in the infamous Carder.su fraud marketplace.
RBI's recent move to mandate that all banks must use Aadhaar as the primary form of authentication for anyone accessing their bank account is stirring a debate about the long-term role of the authentication mechanism and associated data security issues.
With a rise in incidents of omnichannel financial fraud globally, financial institutions need to enhance their ability to detect fraud - while also reducing technical complexity. Maxim Shifrin of IBM Trusteer discusses new solutions.
Prasanna Lohar, head of technology at DCB Bank, describes how 20 banks in India are working together to identify the best ways to leverage blockchain technology to help fight fraud and improve services, such as customer onboarding.
The United Kingdom might be greater than the sum of its parts. But when it came to the WannaCry outbreak, some parts of the United Kingdom did less great than others. Here's how the governments and health boards of Scotland, Northern Ireland and Wales are responding.
The Reserve Bank of India is now requiring all banks, including scheduled commercial banks, small finance and payment banks, to limit consumers' liability for fraudulent credit and debit card transactions. As a result, CISOs must ramp up their fraud prevention efforts to help limit banks' losses.