A Russian hacker who was extradited to the United States earlier this year has admitted his role in the largest hack attack in U.S. history, which resulted in the theft of 160 million payment card numbers. Find out how much time he could spend in prison under his plea agreement.
FBI Special Agent Charles Gunther says collaboration with FinCEN, international law enforcement and U.S. banks has helped the FBI recover millions of funds stolen from customers via emerging wire fraud schemes.
Drawn by the potential for low risk and high reward, criminals worldwide are increasingly pursuing online crime instead of conventional forms of property crime, such as burglary and robbery, warns cybersecurity expert Alan Woodward.
The U.S. payments infrastructure will come up far short of completing the rollout of EMV technology by the Oct. 1 fraud liability shift date. Experts say high costs, a perceived lack of consumer demand and doubts about EMV's ability to significantly reduce card fraud are to blame.
The urgency of shifting to EMV to reduce card fraud is one of many hot topics on the agenda at Information Security Media Group's Fraud Summit San Francisco, to be held Sept. 15. Keynoter Eduardo Perez of Visa will kick things off with an in-depth analysis of the migration to EMV.
As criminals get more savvy about circumventing financial institutions' fraud prevention controls, fraud-fighting collaboration among institutions and law enforcement officials is becoming more important, says Clyde Langley, a former FBI agent who'll be a presenter at ISMG's Sept. 15 Fraud Summit San Francisco.
A Latvian hacker's guilty plea for the role he played in enhancing the Gozi Trojan, and reports of other new malware-related arrests, are promising developments in the international fight against cybercrime. Security experts, including Gartner's Avivah Litan, weigh in on the long-term impact.
The gang behind the Carbanak banking malware - tied to $1 billion in fraud - has changed tactics, using upgraded malware via spear-phishing attacks, a security expert warns. Separately, a new banking Trojan called Shifu has been targeting Japanese banking customers.
BlackBerry plans to buy mobile device management rival Good Technology for $425 million. BlackBerry must prep for a future in which it no longer manufactures hardware - and that's why this deal makes sense.
Four years after the FFIEC issued its updated authentication guidance, many banking institutions say account takeover losses have gone up, a new survey shows. John LaCour of PhishLabs explains why institutions' reactive approach to fraud is failing.
Policymakers must consider three factors before imposing sanctions in retaliation for state-backed hacks: Confidence in its attribution of responsibility, the impact of the incident and the levers of national power at a state's disposal.
Information security experts offer two timely Apple iOS device reminders: First, never jailbreak the devices. Second, enterprise security managers must ensure that they ruthlessly block any jailbroken devices from accessing corporate networks because they pose a security risk.
Former U.S. Secret Service agent Shaun W. Bridges has pleaded guilty to stealing $820,000 worth of bitcoins during the U.S. government's investigation into the underground narcotics marketplace known as "Silk Road."
The bad news is that the new KeyRaider malware has so far compromised more than 225,000 Apple accounts worldwide. The good news, according to Ryan Olson of Palo Alto Networks, is that only modified, or "jailbroken," ioS devices are at risk.
The FBI estimates fraud losses linked to so-called business email compromise scams worldwide have exceeded $1.2 billion in less than a year. But some financial fraud experts say the losses from this largely overlooked threat could be even higher.