Contact centers in the US alone spent
over $10.2B1 on caller authentication while
suffering through $14B1 worth of fraud
Analysts predict that digital businesses providing great
customer experience during identity corroboration will
earn 20% more revenue than comparable businesses with
Websites advertising pirated and cracked software are being used to deliver an updated version of the DanaBot banking Trojan, which can steal individuals' online banking credentials, according to Proofpoint.
Email is still the #1 attack vector the bad guys use. A whopping 91% of cyberattacks start with a phishing email, but email hacking is much more than phishing and launching malware!
Join us as we explore 10 ways hackers use social engineering to trick your users into revealing sensitive data or enabling malicious...
Mitigation of identity fraud requires a combination of technologies that complement one another and are easy to manage. Adding a new solution requires looking beyond fraud management to the customer experience, including all stages of the customer lifecycle. It is critical to have safe and secure customer onboarding,...
Digital banking has become the single most effective channel for financial institutions to drive growth, increase revenue and attract new customers. Yet, it also introduces more risk, and cybercriminals are following the money right into the online account opening process.
Today, a staggering 85% of financial...
A Florida man has been sentenced to 37 months in prison after pleading guilty to a federal laundering money charge stemming from a $9 million business account takeover scheme, according to the Justice Department.
Although the global financial industry has made strides in protecting its data from malware, including Trojans, cyberthreats such as network intrusion, ransomware and criminal gang cooperation are presenting fresh challenges, according to the Carnegie Endowment for International Peace.
COVID-19 accelerated everything else digital; why not fraud, too? In this latest CEO/CISO panel, cybersecurity leaders talk frankly about the pace and scale of new fraud schemes from business email compromise to card not present to insider risk.
Attackers have been actively exploiting a flaw in Rackspace's hosted email service to send phishing emails, bearing legitimate and validated domain names, as part of business email compromise scams, warns IT security testing consultancy 7 Elements. Rackspace tells customers it plans to fix the problem soon.
Whether they result in fraudulent wire transfers, misdirected payments, diverted payrolls, supply-chain fraud or exposed personal data, business email compromise (BEC) and email account compromise (EAC) are growing.
BEC and EAC attacks subvert human trust and imperfect financial controls not technical...
Banking institutions are seeing a significant spike in multi-channel financial crimes. But Duncan Ash and Julio Gomez of Splunk say data and analytics can be key differentiators in the effort to protect sensitive financial data.
Ransomware attacks remain the top cyber-enabled threat seen by law enforcement. But phishing, business email compromises and other types of fraud - many now using a COVID-19 theme - also loom large, Europol warns in its latest Internet Organized Crime Threat Assessment.