Stay informed on the latest in information security with updates on fraud prevention, detection techniques, and cyber fraud trends.
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Background for this topic.
Fraud is intentional deception used to obtain money, access, information, or another unfair benefit. In information security, the term commonly covers digitally enabled schemes such as phishing, account takeover, payment fraud, business email compromise, and misuse of stolen identities or credentials. The defining feature is deceptive use of systems, accounts, or data—not merely a technical failure.
Security teams should treat fraud as both an identity and transaction-risk problem. Relevant controls include phishing-resistant authentication, least-privilege access, payment and account-change verification, and monitoring for unusual login or transaction patterns. Personal and financial data require appropriate privacy protections because exposed data can support impersonation even when passwords are not compromised. Investigation must preserve authentication, email, endpoint, and transaction records so organizations can contain unauthorized access, reverse or block fraudulent activity where possible, notify affected parties, and improve controls based on the attack path.
Reuben Stewart of PNC Discusses Ways to Move Away from Using Static DataDigital identity proofing is a major challenge for banks and financial services firms. Many organizations rely on static data, such as Social Security numbers, which fraudsters can easily steal and misuse, said Reuben Stewart, digital identity lead at PNC Bank.
Microsoft has shed light on an ongoing phishing campaign that targeted the hospitality sector by impersonating online travel agency Booking.com using an increasingly popular social engineering technique called ClickFix to deliver credential-stealing malware
Phishers check in, your credentials check out, Microsoft warns An ongoing phishing campaign disguised as a Booking.com email casts keystroke and credential-stealing malware into hospitality employees' inboxes for financial fraud and theft, according to Microsoft Threat Intelligence.…
Move to Fold PSR Into Financial Conduct Authority Could Affect Fraud VictimsThe U.K. government late Tuesday abolished its Payment Systems Regulator, a move aimed at reducing business complexity and supporting the Labour government's economic growth agenda. Payment system firms had complained that they had to deal with three different regulators.
Abuse Can Lead to Fraud, Impersonation ScamsNeed a new voice? Artificial intelligence has you covered. Need to protect your own? That's another story. Some of the most widely used AI voice synthesis tools offer only superficial safeguards against misuse - if any at all, researchers found in a recent analysis.
The U.S. Federal Trade Commission (FTC) said today that Americans lost a record $12.5 billion to fraud last year, a 25% increase over the previous year. [...]
SIM swapping fraud surges in the Middle East as cybercriminals exploit websites mimicking legitimate services to steal personal data