Virtual payment cards being tested in Europe and the United States could help mitigate the risk of merchant fraud, says Rui Carvalho of the nonprofit European Association for Secure Transactions.
The shift to online shopping - and card-not-present transactions - during the COVID-19 pandemic has driven fraudsters to shift their strategies, including ramping up efforts to open fraudulent accounts, says Gord Jamieson of Visa, who offers advice on mitigating the risks.
From Friday through Monday, malicious JavaScript skimming code was injected into nearly 2,000 e-commerce sites that were running an older version of Adobe's Magento software, possibly resulting in the theft of payment card data, according to Sanguine Security.
Fighting payment fraud requires protecting far more than just payment data, says Sujay Vasudevan, vice president of cyber and intelligence solutions at Mastercard, who describe key steps.
Visa's payment fraud disruption team is warning of a recently uncovered digital skimmer called "Baka" that is stealing payment care data from e-commerce sites while hiding from security tools.
A flaw in how contactless cards from Visa - and potentially other issuers - have implemented the EMV protocol can be abused to bypass PIN verification for high-value transactions, ETH Zurich researchers warn. But Visa says the exploits would be "impractical for fraudsters to employ" in real-world attacks.
Some payment card fraud detection systems that rely on artificial intelligence are now less effective because of changes in consumers' habits during the COVID-19 pandemic, says Rene Perez of Jack Henry & Associates, who offers insights on needed adjustments.
Some fraudsters are now using the encrypted instant messaging app Telegram as a fast and easy way to steal payment card data from ecommerce sites, according to an analysis from Malwarebytes.
The COVID-19 pandemic has led to changes in the way payments are made. David Lott of the Federal Reserve Bank of Atlanta discusses how fraudsters are adapting to the changing landscape.
BREAKING DOWN THE NEW TRENDS IN ONLINE EXTORTION THREATS
Ransomware is one of the fastest-growing threats in cybersecurity, with damages predicted to crest $20 billion globally by 2021, up from "only" $345 million* in 2015.
This paper explains the evolution of ransomware by breaking down the new trends in online...
Implementing an adaptive, risk-based authentication process for remote system access is proving effective as more staff members work from home during the COVID-19 pandemic, says Ant Allan, a vice president and analyst at Gartner.
The IcedID banking Trojan has been updated with additional evasion techniques, including a password-protected attachment, keyword obfuscation and a DLL file that acts as a second-stage downloader, according to Juniper Threat Labs.
The number of banking Trojans targeting users of mobile devices doubled in 2018. Cybercriminals are now investing more time and money than ever in attacking the mobile channel. To combat this, banks and FIs need to empower their mobile app developers with effective, efficient tools to apply proactive, client-side...
Chaos ensued when miscreants interrupted a virtual bail hearing on Wednesday for the suspected Twitter hacker, hijacking the feed with screams, chatter and, for a few brief seconds, pornography. The meeting details were public, and the meeting had not been password protected.
A member of the infamous Infraud Organization who was the creator of a malware strain called FastPOS has pleaded guilty to a federal conspiracy charge. Valerian Chiochiu assisted other cybercriminals through the Infraud site before authorities shuttered it in 2018, prosecutors say.
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