One week after the EMV fraud liability shift took effect for U.S. merchants, experts say much more needs to be done to prepare merchants for chargebacks and new socially engineered scams aimed at exploiting consumers.
A cybercrime ring that employed the Angler Exploit Kit to earn an estimated $34 million per year - from ransomware infections alone - has been disrupted by security researchers at Cisco's Talos security intelligence and research group.
Prosecutors recommended that twin brothers Muneeb and Sohaib Akhter serve a six-year and a two-year sentence, respectively, after pleading guilty to hacking-related charges. But one of the men received a much lighter sentence.
As a result of Experian's data breach, 15 million T-Mobile subscribers are at risk from phishing attacks and fraud. But it's not clear what more T-Mobile can do to protect breach victims, says security specialist Mark James.
In the wake of the Oct. 1 EMV fraud liability shift date, U.S. merchants can expect to pay for counterfeit fraud losses previously absorbed by European issuers, says Jeremy King of the PCI Council. Longer-term, he expects European banks will experience more fraud as U.S. POS and card security leapfrogs other markets.
A Russian cybercriminal who used the Citadel banking Trojan to infect at least 7,000 PCs has received a 4.5 year jail sentence. Authorities tracked him in part thanks to his posts to a Citadel user group.
Reports that a Linux-based botnet has been lobbing 160 Gbps packet storms highlight how DDoS attacks remain alive and well. Experts also warn that DDoS attackers are mixing Windows and Linux malware and running extortion scams.
What impact will the Oct. 1 fraud liability shift date have on EMV chip adoption? It's far too soon to tell. For now, though, it's clear that many merchants still lack the necessary POS equipment, and many consumers still lack chip cards - which means mag-stripe transactions remain commonplace.
Cybercrimnals are now using the Dyre and Dridex banking Trojans to gather massive amounts of data about individuals and companies that could enable them to track patterns of behavior, which might later help them evade intrusion detection, says Fox-IT's Eward Driehuis.
The hotel chain bearing 2016 U.S. presidential candidate Donald Trump's name has confirmed that its point-of-sale systems were malware-infected for more than a year, but it's downplaying the possibility that card data was exfiltrated or used to commit fraud.
PCI Council General Manager Stephen Orfei says the migration to EMV in the United States will facilitate faster adoption of contactless mobile payments. That's why mobile will be a hot topic at the PCI Council's annual North America Community Meeting this week.
The leader of a $24 million identity theft and tax refund fraud ring, which stole data from a military hospital, the Alabama Department of Public Health and others, has been sentenced to serve 15 years in prison. Experts recommend steps organizations can take to prevent such crimes.
Europe's successful migration to EMV, which began more than a decade ago, employed deadline shifts, education for cardholders and merchants and an approach based on PIN codes. Here are lessons for the in-progress U.S. migration to EMV.
Security experts warn about a trio of new threats: GreenDispenser cash-out malware, the Shifu banking Trojan being spread via malvertising attacks and Neutrino crimeware getting an upgrade to steal payment-card data.
The number of apps infected in the first large-scale Apple App Store malware outbreak is far higher than was first believed, according to the cybersecurity firm FireEye, which reports that at least 4,000 apps were infected with XcodeGhost malware.