How could global fraudsters steal $45 million from banking institutions without being detected or stopped? It was a process breakdown, not a technology failure, says fraud expert Avivah Litan of Gartner.
Authorities have shuttered a digital currency service allegedly used to launder funds stolen in a $45 million ATM cash-out scheme exposed earlier this month. Learn why experts say lax laws paved the way for the fraud.
Visa's alert to U.S. card issuers about increasing global ATM cash-out schemes should serve as a warning of bigger scams to come, says ATM expert Nicole Sturgill. Why are cash-out incidents on the rise?
The continuing loss of data to China suggests that the federal government should carefully assess the cybersecurity implications associated with the expansion of Chinese cloud and mobile providers in the U.S.
Jenny Durkan, the U.S. Attorney for the Western District of Washington, is taking a lead role in combatting cyberfraud. Under her leadership, federal prosecutors have upped their efforts to combat ever-increasing threats posed by digital crimes, including card fraud.
Banks and credit unions say they are investing in enhanced fraud detection, monitoring systems and education. What other anti-fraud investments top their lists? See what our 2012 Faces of Fraud Survey revealed.
Israel is being blamed - or, perhaps, taking credit - for the creation of Flame, the sophisticated cyberspyware that has targeted organizations in the Middle East, especially its mortal enemy, the government of Iran.