A global law enforcement operation has resulted in the arrest of 281 suspects allegedly involved in business email compromise scams. The announcement comes on the same day as the FBI's Internet Crime Complaint Center says that losses from BEC scams have hit $26 billion and are continuing to rise.
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As the global threat landscape shifts, so does Kaspersky Lab. Whereas Kaspersky Lab traditionally has been known for its cutting-edge research on threat trends and malware evolution, now the focus is expanding to encompass the new types and vectors of fraud impacting enterprises, says Emma Mohan-Satta, a Fraud...
Same-day Automated Clearing House (ACH) payment processing became a reality. While this represents a terrific opportunity for banks to be responsive to their customer's requirements for faster ACH payments, plus the ability to attract new customers from banks who choose not to offer the same level of responsiveness,...
Who's responsible for the 12 percent uptick in financial fraud losses absorbed by U.S. banks? The American Bankers Association points to retail breaches. But one observer thinks "the ABA has its head in the sand." Read other reactions to the ABA's fraud report.
Financial losses tied to fraud against bank accounts increased about 12 percent from 2012 to 2014, but banks are not to blame. To the contrary, the ABA argues that banks are actually making significant strides in their fraud prevention efforts.
Sophisticated phishing campaigns, increasingly targeted because of social media, are fueling business email compromises - a growing wire fraud scheme that is attacking businesses worldwide, says Jim Hansen of PhishMe.
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.
A $46.7 million fraud scheme that hit Ubiquiti Networks Inc. shows the new & improved face of wire fraud - and just how easy it is for cybercriminals to fool employees into helping to pilfer their own enterprises.
Choice Escrow is seeking a bench review of a recent appellate court ruling, which favored its former bank in an ACH fraud dispute. The firm argues the court set a bad precedent for future disputes by limiting Uniform Commercial Code protections.
Call center fraud is one of the leading threats that financial institutions will battle next year because fraudsters consider the centers to be an easy target. But what can be done to mitigate this threat?