Coordinated police raids in Germany and Sweden have resulted in the arrest of two Syrian nationals suspected of running a cyber fraud operation that purchased stolen card data to book hundreds of airline and train tickets to help smuggle people from the Middle East into Europe.
The latest edition of the ISMG Security Report features an analysis of a new Government Accountability Office report on the causes of last year's massive Equifax breach. Also: An update on the role of tokenization in protecting payments.
Russian national Peter Levashov, who was arrested in Spain last year and extradited to the U.S., has admitted to a two-decade crime spree that included running multiple botnets that harvested online credentials while also pumping out spam, banking Trojans and ransomware.
The British Airways breach, in which up to 380,000 website and mobile users' payment card details were stolen, traces to card-scraping code injected into a script on the airline's website by the cybercrime group called Magecart, says security firm RiskIQ.
British Airways has been threatened with a class-action lawsuit in U.K. court after warning that a hacker stole payment card data associated with 380,000 transactions. A law firm says that under GDPR, the airline should compensate victims for "inconvenience, distress and misuse of their private information."
U.S. prosecutors have accused a 34-year-old North Korean man of involvement in some of the most destructive and profitable cyberattacks ever seen, including the WannaCry ransomware outbreak, the Sony Pictures Entertainment breach and the theft of $81 million from Bangladesh Bank.
Canada, which has a head start on the adoption of digital payments, has learned some valuable security lessons that could be beneficial to the U.S., says Gord Jamieson of Visa. He'll be a featured speaker at ISMG's Fraud & Breach Prevention Summit: Toronto, to be held Sept. 11-12.
So far, police have not found evidence that a major organized hacking group was responsible for the Cosmos Bank heist, which involved the theft of $13.5 million through ATMs and unauthorized SWIFT transactions. What steps should banks take to avoid becoming the next cyber heist victim?
With less than three months to go until the U.S. midterm elections, Alex Stamos, until recently Facebook's CSO, says there isn't time to properly safeguard this year's elections. But here's what he says can be done in time for 2020.
Cybercrime is a business and, like any business, it's driven by profit. But how can organizations make credential theft less profitable at every stage of the criminal value chain, and, in doing so, lower their risk?
Espionage: Every nation does it. But for nation-state hacking that targets intellectual property or interference in political affairs, the U.S. has been using criminal indictments against individuals as a diplomatic way of saying: "We see what you're doing, now knock it off." But does it work?
The FIN7 cybercrime gang regularly phoned victims, posing as buyers, to trick victims into opening phishing emails and attachments with malware, federal prosecutors allege. The group's success - 15 million stolen payment cards and counting - is one measure of how difficult these types of attacks are to block.