Hackers with apparent ties to North Korea have extended their bag of online attack tricks beyond cryptocurrency mining, online bank heists and ransomware. Now, they're also hitting e-commerce merchants in the U.S. and Europe with Magecart attacks to steal payment card data, security firm Sansec reports.
Aleksey Burkov, who operated a site called "Cardplanet" that trafficked in stolen payment card data used to make millions of dollars in fraudulent purchases, has been sentenced to nine years in federal prison. His case also involved high-level negotiations between the U.S., Russia and Israel.
The latest edition of the ISMG Security Report discusses Europol's launch of the European Financial and Economic Crime Center, and also details the London Met's perspective on recent cybercrime trends, and to need to maintain a paper audit trail for mobile voting.
The FBI is warning that cybercriminals and fraudsters are increasingly targeting mobile banking apps with malware in order to steal credentials and conduct account takeover attacks. The shift to mobile banking has increased since the COVID-19 pandemic.
Europe is targeting financial and economic crime, including fraud and money laundering, via the new European Financial and Economic Crime Center, hosted by the EU's law enforcement intelligence agency Europol. Officials say the launch of such a center during the COVID-19 pandemic is no accident.
Payment fraud continues to evolve during the COVID-19 pandemic, exploiting changing habits and behaviors of consumers. Melissa Gaddis of TransUnion, who has been tracking these changes, says one of the surprising changes concerns millennials: They're now fraudsters' top target.
Expectations of online businesses have never been higher. Customers expect frictionless and personalized experiences, while demanding evermore streamlined registration processes. And if they don't get them, they'll take their business elsewhere.
Resultantly, businesses are experiencing a profound tension. How do you...
The latest edition of the ISMG Security Report offers a discussion of the potential insider threats posed by the remote workforce during the COVID-19 crisis. Also featured: An update on payment fraud shifts and the long-term outlook for the cybersecurity market.
The availability of sophisticated data stealing and emulation/spoofing tools means that the baseline level of skill for attacks on banks, merchants, and any other organization holding valuable data continues to rise.
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What types of tools cybercriminals have available off the...
The latest edition of the ISMG Security Report discusses the ramifications of the U.K's decision to allow limited use of Huawei's equipment in 5G networks. Plus: Updates on Wawa's stolen card data offered for sale and nascent security threats from social networks and drones.
In today's digital world, fighting fraud requires a dynamic approach that connects multiple layers of security and leverages a coordinated set of AI-based solutions to continuously stay on top of the newest fraud schemes while preserving a seamless consumer experience.
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How a...
Faster payments are the new reality in more than 40 countries, and this innovation is benefiting consumers and businesses alike. Criminals are also enjoying the speed and non-refutable nature of these transfers, and in many deployments faster payments quickly translates to faster fraud.
This does not have to be the...
Google's Android is the most popular mobile operating system in the world, powering over 2.5 billion devices.
In this exclusive session, Eugene Liderman, Director of Mobile Security Strategy, Google, outlines Android's multi-layered security strategy, which includes hardware and software protections, as well as...
The EU's second Payments Services Directive is alive and well. And although PSD2's Regulatory Technical Standards have technically been in place since September of this year, they won't actually be actively enforced or supervised for roughly one year. But where are financial institutions now re: compliance and...
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