First-party fraud is all about intent and banks have to determine whether the person carrying out the transaction is doing it intentionally. That's hard to do for a basic binary decision model, says Steve Lenderman, senior vice president/director of global loss prevention and fraud, BM Technologies.
The ransomware threat is a top-of-mind issue for so many organizations; however, few feel totally prepared for an attack. Without an industry reference architecture or blueprint for ransomware protection, organizations are building their own strategies and processes to respond. But with ransomware protection included...
In today's rapidly evolving threat landscape, cyber attacks are becoming more sophisticated, with spear phishing attacks now the most common way for cybercriminals to enter an organization. With the advent of new technologies like ChatGPT and Deepfakes, the situation is only getting worse. ChatGPT is being used to...
Ahead of RSA Conference 2023, Greg Day, a program committee member focusing on "hackers and threats," previews top themes at this year's event. Day, a member of the RSA Conference program committee, says one common theme is "old vulnerabilities and threat techniques being used in new environments."
In the latest weekly update, ISMG editors discuss important cybersecurity and privacy issues, including cybersecurity innovation in today's market, how French police nabbed notorious Finnish hacker Zeekill and whether we are in a new form of cold war - specifically, an ongoing cyberwar.
Revenue at dark web illicit marketplaces plummeted in 2022 following seizure by U.S. and German police last spring of what was then the world's largest online bazaar for illegal goods and services. Three markets have jockeyed for dominance following Hydra's collapse: OMG!OMG!, Blacksprut and Mega.
Improved credit card security has forced fraudsters to look for other channels, and check fraud is proving to be an easier route for them, says Michael Diamond of Mitek Systems. Even worse, new technologies are enabling fraudsters to develop even better counterfeit checks.
Attackers targeting unpatched VMware ESXi hypervisors to hit virtual machines have reportedly modified their ESXiArgs ransomware to prevent victims from using decryption workarounds identified by researchers. The campaign has already amassed nearly 3,000 known victims and could have many more.
As the massive ESXiArgs ransomware campaign continues to target unpatched VMware ESXi hypervisors, cybersecurity experts have released a script that can decrypt at least some affected virtual machines. Ransomware trackers count at least 2,803 victims, primarily in France, the U.S. and Germany.
The complexities and lengthy processes involved in creating and deploying an artificial intelligence algorithm often act as roadblocks that keep cyber defenders from moving quickly against the attackers, says Dr. Jassim Haji, president of the International Group of Artificial Intelligence.
Police in multiple European countries carried out raids against the operators and users of the Exclu encrypted chat app, arresting four dozen individuals. German authorities began investigating the app following a 2019 raid on the Cyberbunker web hosting facility.
The LockBit group has gone from denying it had any involvement in the ransomware attack on Britain's Royal Mail to trying to bargain for a ransom. The ransomware group's site now lists Royal Mail as a victim and demands it pay a ransom or see stolen data get dumped.
Banks are losing hundreds of millions of dollars a year to check fraud - if not more, says David Maimon, professor of criminal justice and criminology at Georgia State University. The major hurdle facing banks is that they are not able to share information with each other about fraudulent checks.
French police arrested hacker Aleksanteri Kivimäki, 25, who's suspected of hacking and extorting a Finnish mental health service provider, leaking patient data and extorting 25,000 patients. The suspect was formerly convicted of disrupting thousands of websites when he was a teenager.
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