Latest cybersecurity reporting from selected sources.

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.

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.

International authorities have dismantled three massive credit card fraud and money laundering networks, linked to losses exceeding €300 million ($344 million), which affected over 4.3 million cardholders across 193 countries. [...]

A Morocco-based gift card fraud campaign is a sign of what retailers can expect this holiday season.

Cybersecurity researchers have shed light on a cybercriminal group called Jingle Thief that has been observed targeting cloud environments associated with organizations in the retail and consumer services sectors for gift card fraud

The operation took down a massive SIM card fraud network that provided fake phone numbers from more than 80 countries to criminals.

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.

A new Android malware-as-a-service (MaaS) platform named SuperCard X can facilitate near-field communication (NFC) relay attacks, enabling cybercriminals to conduct fraudulent cashouts

Cybersecurity researchers have warned about a large-scale ad fraud campaign that has leveraged hundreds of malicious apps published on the Google Play Store to serve full-screen ads and conduct phishing attacks

A widespread phishing campaign has been observed leveraging bogus PDF documents hosted on the Webflow content delivery network (CDN) with an aim to steal credit card information and commit financial fraud

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.

Group-IB has observed scammers impersonating government officials to trick disaffected consumers into divulging card details

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.

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.

In January, KrebsOnSecurity wrote about rapper Punchmade Dev, whose music videos sing the praises of a cybercrime lifestyle. That story showed how Punchmade's social media profiles promoted Punchmade-themed online stores selling bank account and payment card data. Now the Kentucky native is suing his financial institution after it blocked a $75,000 wire transfer and froze his account, citing an active law enforcement investigation.

Facebook users are the target of a scam e-commerce network that uses hundreds of fake websites to steal personal and financial data using brand impersonation and malvertising tricks

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.