This week's ISMG Security Report analyzes the cost of business email compromise attacks and the recent arrest of dozens of suspects. Also featured: updates on the easy availability of low-cost hacking tools and the latest payment card fraud trends.
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.
Cybercrime is surging thanks, in part, to the availability of inexpensive hacking tools and services. A recent look by security firm Armour at black market offerings finds stolen payment card data, RDP credentials, ransomware and DDoS services are widely available for sale.
Account takeover (ATO) attacks result in billions of dollars of fraud and damage to brand reputation each year. These are the costs and risks associated with ATO.
With widespread use of Active Directory across industries and organizations of all sizes, it is frequently a target for bad actors who can use a cracking dictionary or exposed credentials to gain unauthorized access to an employee's account.
As a fraud management leader, are you aware that social engineering is a widespread and increasingly common tactic used to takeover customer accounts? Learn more about why social engineering is one of the most dangerous and difficult to stop online crimes.
Following racist and anti-Semitic tweets being posted for a short time to Twitter CEO Jack Dorsey's hijacked account - despite his use of two-factor authentication - Twitter blamed the security lapse on an unnamed mobile provider. A group called "Chuckling Squad" appears to be responsible.
A new variant of the TrickBot banking Trojan is enabling attackers to conduct SIM swapping schemes against Verizon Wireless, Sprint and T-Mobile customers in the U.S., potentially paving the way for account takeover fraud, according to a report from Dell's SecureWorks division.
Account takeover continues to be a lucrative path for fraudsters across all industry sectors. But Scott Olson of iovation says there are different levels of defense that can be deployed, based on the risk of specific types of transactions.
Researchers at the security firm Doctor Web have uncovered a fake website for a VPN provider that's designed to spread a Trojan that can steal credentials to bank accounts.
This edition of the ISMG Security Report discusses the latest improvements in deception technology and how best to apply it. Also featured: a report on the growth of mobile fraud, plus insights on Merck's experience recovering from a NotPetya attack.
Protecting your enterprise from breaches and account takeovers has never been a bigger challenge. New tools make it possible for even unsophisticated actors to perform advanced, widespread attacks that put your organization at risk. According to the 2019 Verizon Breach Report, stolen credentials are the leading attack...
The scary fact is that human error is a contributing factor in more than 90% of breaches. With so many technical controls in place hackers are still getting through to your end users, making them your last line of defense. How are they so easily manipulated into giving the bad guys what they want? Well, hackers are...
Fraudsters continue to get new tricks up their sleeves. Criminals are increasingly using Apple Pay, setting up mobile call centers to socially engineer victims as well as tricking consumers via fake e-commerce sites that never fulfill orders, fraud-fighting experts warn.
Déjà vu basic cybersecurity challenge all over again: With the U.S. government warning that geopolitical tensions could trigger wiper-attack reprisals, security experts review the basic anti-wiper - and anti-ransomware - defenses organizations should already have in place.
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