Tools such as image analysis are of little help to banks dealing with check fraud since, most of the time, checks that are deposited are legitimate, says Karen Boyer, senior vice president for financial crimes at M&T Bank. She says the best way to deal with this fraud is to closely monitor accounts.
Cybercrime experts have long urged victims to never pay a ransom in return for any promise an attacker makes to delete stolen data. That's because, as a recent case highlights, whatever extortionists might promise, stolen personal data is lucrative, and it often gets sold six ways from Sunday.
A Russian national accused by U.S. federal prosecutors of developing an application for decrypting login credentials pleaded not guilty during a first appearance in Tampa federal court. The man, Dariy Pankov, faces seven criminal counts, including conspiracy, access device fraud and computer fraud.
Embedding OpenAI technology in Microsoft Bing will help both hackers and cyber defenders. The AI tool could make it easier for hackers to drive traffic to malicious sites, avoid search engine blocking and distribute malware, but it could also help security teams with code analysis and threat intel.
Every week, Information Security Media Group rounds up cybersecurity incidents in the world of digital assets. This week, we look at incidents at Hope Finance, decentralized finance firm new malware demanding crypto and a phishing campaign aimed at Coinbase.
The Los Angeles Unified School District confirmed that records containing mental health data and other sensitive information of about 2,000 students, including 60 current pupils, were among data leaked in a ransomware attack last fall by Russian hacking group Vice Society.
In this week's roundup of cybersecurity incidents happening around the world, ISMG looks at incidents affecting the maker of the video game Call of Duty, Scandinavian Airlines, renowned fruit and vegetable giant Dole, Australian software maker Atlassian, and Russian broadcast company VGTRK.
Five proposed class action lawsuits have been filed so far in the wake of a California medical group's Feb. 1 report of a ransomware attack last December affecting more than 3.3 million individuals. The incident is the largest health data breach reported to federal regulators so far this year.
In a new report, tech giant Microsoft says distributed denial-of-service attacks became shorter in duration but more potent in 2022. The United States, India and East Asia were the top regions affected by DDoS attacks, and IoT devices continued to be the preferred mode of attack.
The newly relaunched HardBit 2.0 ransomware group is now demanding victims disclose details of their cyber insurance coverage before negotiating a ransom demand. The group, which has been active since 2022, has demanded that one victim pay $10 million in ransom, according to researchers at Varonis.
Cyren plans to cease operations and pursue liquidation after the email security and threat detection vendor failed to sell assets or raise more capital. The company terminated the employment of all remaining workers, commenced a bankruptcy proceeding in Israel and told Nasdaq to delist the company.
AT&T wants to unload its cyber assets just five years after doubling down on security through its $600 million purchase of threat intelligence vendor AlienVault. The Dallas-based carrier has been working with British banking firm Barclays to solicit bids for its cybersecurity business, Reuters said.
India and Singapore made it easier and cheaper for their citizens to send and receive money through the integration of UPI and PayNow, but could this move lead to a rise in cross-border online payment scams? Reports of UPI-related fraud surged in India in 2022.
Will large language models such as ChatGPT take cybercrime to new heights? Researchers say AI for malicious use so far remains a novelty rather than a useful and reliable cybercrime tool. But as AI capabilities and chatbots improve, the cybersecurity writing is on the wall.
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