Transaction monitoring must keep up with the multiple and fast-moving risks of today’s world. In addition to the many typologies by which criminals push illicit funds through the financial system, financial institutions are challenged to effectively counter the myriad of risks around black swan events, ESG crimes,...
A survey of fraud executives found that 85% saw an increase in fraud losses in 2022, with the mobile channel accounting for the majority of this increase. This whitepaper explores strategies to strengthen fraud prevention and mitigate the impact of online attacks.
In the rapidly expanding digital economy, fraud...
Threat actors are using dedicated mobile Android OS device spoofing tools to defraud customers of online banking, payment systems, advertising networks and online marketplaces globally. Resecurity observed cybercriminals using spoofing tools to exploit stolen cookies and access victims' systems.
A hacker suspected to be based in Mexico is targeting financial institutions using "relatively unsophisticated" tools but is achieving a high degree of success among banking customers, SentinelOne said. The threat actor also offers smishing as a service.
Big banks want social media firms to take accountability for scams that occur on their payment platforms, but that doesn’t mean reimbursing victims. Banks need to take the lead in making victims whole quickly. And big tech and telcos need to kick the scammers out of their platforms.
Is your organization ready for the new PCI DSS 4.0 Standard? If you’re already compliant with the most recent version of the Payment Card Industry Data Security Standard (PCI DSS), you’ve probably already begun transitioning to version 4.0 ahead of the upcoming deadline. To help you make the journey easier and...
In this episode of CyberEd.io's podcast series "Cybersecurity Insights," Weldon Dodd of Kandji discusses the evolution of Apple's security and privacy practices and how mobile device management can help achieve a balance between user privacy and corporate control.
Phishing attacks have come a long way from the spray-and-pray emails of just a few decades ago. Now they’re more targeted, more cunning and more dangerous. And this enormous security gap leaves you open to business email compromise, session hijacking, ransomware and more.
Join Roger Grimes, KnowBe4’s...
Apple has fixed multiple zero-days that were actively being exploited since 2019 and infect several iOS devices with a spyware implant dubbed TriangleDB via zero-click iMessage exploits. The tech giant said the vulnerabilities actively exploited iOS versions released before iOS 15.7.
As countries across the globe adopted real-time payments at breakneck speed over the past year, experts said authorized push payments fraud sharply increased. APP scams nearly doubled year-over-year compared to other types of fraud. ACI Worldwide's Jackie Barwell shared fraud trends in a new report.
U.K. banks will soon have to reimburse customers who fall prey to authorized push payment scams. The U.K.'s Payment Systems Regulator recently released a policy that would split the reimbursement cost between sending and receiving banks and incentivize the industry to invest in fraud prevention.
The U.K. government earlier this month introduced a strategy to reduce fraud and scams called Fraud Strategy: Stopping Scams and Protecting the Public. Ken Palla, retired director of MUFG Bank, said this as an important step to combat authorized scams, which have now eclipsed unauthorized fraud.
The expanding RTP landscape represents a definitive transformation in how consumers and organizations interact.
Constantly evolving payments demand agile tools, practices, and processes that enable greater defense against continually manifesting scams and fraud. The FedNow Service launch is right around the...
Mule accounts have become an increasingly prevalent element of fraudulent schemes, acting as the primary pathway for moving funds from various sources of fraud, such as scams, check fraud, account takeovers, and authorized push payment (APP) fraud, into the accounts of fraudsters themselves. Startlingly, our research...
Researchers found Android malware masquerading as a legitimate application available and downloaded over 620,000 times from the Google Play store. The apps have been active since 2022, posing as legitimate photo-editing apps, camera editors and smartphone wallpaper packs.
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