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.
Dish Network has been slapped with multiple class action lawsuits after it suffered a ransomware incident that was behind the company's multi-day "network outage." The legal actions aim to recover losses faced by DISH investors who were adversely affected by what has been dubbed a "securities fraud." [...]
Until a degree of confidence is established, a platform's credibility can be eroded by scammers and unsuspecting gamers who fall victim to their attacks.
Ukraine's cyberpolice has arrested members of a fraud gang that stole roughly $4,300,000 from over a thousand victims across the EU. [...]
The investment will fund global commercial rollout and R&D efforts to debilitate fraudsters.
Agency says it has seized hundreds of assets in month-long operation
Multiple threat actors have been observed using two new variants of the IcedID malware in the wild with more limited functionality that removes functionality related to online banking fraud
Solomon Ekunke Okpe and others made over $1m from online fraud
New IcedID variants have been found without the usual online banking fraud functionality and instead focus on installing further malware on compromised systems. [...]
Conor Brian Fitzpatrick, the 20-year-old founder and the administrator of the now-defunct BreachForums has been formally charged in the U.S. with conspiracy to commit access device fraud