Latest coverage for Credit Card

Fraudsters Tokenize Stolen Cards Into Attacker WalletsGoogle Threat Intelligence Group warned that Chinese-language phishing-as-a-service platforms are using AI, encrypted messaging and real-time OTP interception to bypass multifactor authentication and provision stolen payment cards into attacker-controlled digital wallets worldwide.

Visa CISO Subra Kumaraswamy on Securing Agents, Fighting Fraud, Protecting CommerceAI is transforming trust in global payments as attackers scale faster and agents automate decisions. CISO Subra Kumaraswamy explains how Visa uses AI to combat fraud, secure transactions and build trust across consumers, merchants and a rapidly evolving digital ecosystem.

Digital Skimming Attacks Spoof Stripe Payment Forms to Steal Payment Card DataMagecart-style digital skimming attacks targeting payment card data continue, with researchers detailing an active campaign targeting the popular WooCommerce platform and Stripe. Separately, widely used ConnectPOS exposing its code repository for years, posing a supply-chain risk for customers.

Boards are becoming increasingly focused on understanding the mechanics and implications of agentic artificial intelligence, but traditional governance processes aren't built for the speed and complexity of today's AI-driven innovation cycles, said Joanne Stonier, former chief data and AI officer at Mastercard.

Telegram-Based Market Is Exploiting Gaps in US Tracking of Departed Visa HoldersA Russian darknet marketplace is exploiting a major blind spot for U.S. financial institutions by trafficking in the identities of former legal immigrants. Telegram-based group Karma Fullz has built a profitable criminal enterprise with highly convincing synthetic identities.

German Payment Processor Insiders Accused of Laundering Fake Subscription ProceedsPolice have arrested 18 suspects as part of a global crackdown targeting fraud and money laundering networks tied to the theft of $345 million by using 4.3 million cardholders' stolen data to sign them up to fake dating, pornography or streaming sites that billed monthly.

The Payments Giant Is Creating Digital Rails for Secure, AI-Driven CommerceVisa is doubling down on both B2C and B2B agentic AI use cases. Early experiments focus on automating repetitive, trust-sensitive financial tasks, but the company is rapidly expanding into more sophisticated scenarios, positioning itself at the center of the next major shift in global payments.

As Visa and Mastercard Deploy AI Agents, Experts Ask: Who Holds the Receipt?When AI assistants order groceries or book flights, who's responsible when something goes wrong? That question is no longer hypothetical. As Visa and Mastercard enable AI agents to perform transactions on behalf of cardholders, experts weigh the legal, security and privacy stakes.

Attack Combines Social Engineering and Card Emulation to Execute Real-Time TheftHackers are using Chinese-speaking Android malware-as-a-service SuperCard X to carry out near-field communication relay attacks, siphoning payment card data and executing live point of sale and ATM transactions. Victims receive spoofed SMS or WhatsApp alerts purporting to originate from their bank.

Criminals Listed 269 Million Stolen Payment Card For Sale in 2024, Researchers FindIt's an old story: Criminals rake in profits by using digital "e-skimming" software, running scam e-commerce sites and selling stolen payment card data. Unfortunately, it's made continually new thanks to adaptability of cybercriminals, who keep their tool set relevant and ever more lucrative.

Acquisitions, AI and Emerging Threats Define Strategy for Recorded Future, GoogleFrom Google's $5.4 billion acquisition of Mandiant to Recorded Future's fraud insights following Mastercard's $2.65 billion purchase, threat intelligence vendors are innovating with AI and are focused on operationalizing their data through automation and managed services.

Tactic Uses Stolen Cards Added to Apple Pay and Google Pay Digital WalletsCriminals have been caught tapping a new type of relay attack to cash-out stolen payment cards added to legitimate digital wallets. These criminals use money mules who carry an Android device able to capture and relay NFC communications used by ATMs to and from an attacker-controlled device.

Also: Payment Card Theft Trends, Internet Archive UpdateThis week, bulk data transfers to China, credit card theft, the Internet Archive still recovering and the Change Healthcare tally is now 100M. Ukraine fought phishers, civil society against the UN cybercrime treaty, TA866 and virtual hard drives spread malware. Google verified Sir Isaac Newton.

FBI Tracking Alleged Fraudsters Using Evidence Seized From Shuttered Genesis MarketAn FBI probe into shuttered cybercrime site Genesis Market has led to the indictment of Terrance Ciszek, a now-suspended police detective in Buffalo, New York, who's been accused of buying stolen payment card data and recording a video showing fraudsters how to use it anonymously.

Mastercard’s Rigo Van den Broeck on Ensuring Cybersecurity in a Data-Driven WorldThe proliferation of data in today’s hyperconnected world presents both opportunities and risks. Rigo Van den Broeck, executive vice president of cybersecurity at Mastercard, said the sheer scale and accessibility of data require organizations to adopt proactive cybersecurity strategies.

Featurespace's AI Expertise Will Enhance Visa's Fraud, Risk and Payments TechnologyVisa has signed a definitive agreement to acquire AI-driven fraud prevention leader Featurespace. This acquisition will reinforce Visa's fraud detection capabilities, integrating advanced machine learning technology to strengthen financial crime prevention and protect global transactions.

EVP Johan Gerber on How Threat Intelligence Can Prevent Fraud, Protect PaymentsMastercard's proposed purchase of Recorded Future for $2.65 billion will bring advanced threat intelligence into its payment systems. EVP Johan Gerber explains how this move improves fraud detection and prevention and strengthens Mastercard's cybersecurity in an evolving digital payments landscape.

Also: Mastercard's Big Acquisition and US Election Security EffortsIn the latest weekly update, ISMG editors discussed the fallout from the CrowdStrike global IT outage on endpoint security tools, Mastercard's monumental acquisition of Recorded Future to bolster its cybersecurity portfolio, and the latest efforts by U.S. officials to secure the 2024 election.

Deal Will Help Mastercard Offer Greater Protection, Trust for Digital TransactionsMastercard plans to buy threat intelligence firm Recorded Future for $2.65 billion to enhance cyber resilience and offer greater protection and trust around digital transactions. The deal will enhance Mastercard's identity, fraud prevention services by helping businesses identify and mitigate risk.

Fraud Experts Share Challenges and Solutions for Managing Customer-Driven LossesBanks lose tens of billions of dollars every year to credit card fraud, bad checks and intentional loan defaults, but the main culprits are not third-party scammers. Most of these crimes are being committed by the bank's customers, making detection and prevention a formidable challenge.