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.
A RUSI report warned that money mules are exploiting inadequate security controls in smaller payment service providers to move fraudulent transactions about
More than $300 million worth of cryptocurrency linked to cybercrime and fraud schemes has been frozen due to two separate initiatives involving law enforcement and private companies. [...]
Also: Trump Signs Pro-Crypto EO, Credix Disappears After $4.5M HackEvery week, Information Security Media Group rounds up cybersecurity incidents in digital assets. This week, includes Do Kwon's guilty plea, Trump's crypto-linked executive order, Credix's post-hack disappearance, $7M Odin.fun exploit and hackers using fake Firefox crypto wallet extensions for theft.
Abnormal AI said gaining access to such accounts provides opportunities for sophisticated fraud schemes that impersonate officials
Cybersecurity researchers have disclosed a new Android trojan called PhantomCard that abuses near-field communication (NFC) to conduct relay attacks for facilitating fraudulent transactions in attacks targeting banking customers in Brazil
Zelle Provider Allowed $1 Billion of Fraudulent Transactions, Prosecutors SayThe state of New York is suing the privately held fintech company behind the Zelle money transfer system in a complaint that alleges years of poor cybersecurity and protections against fraud. The New York complaint targets Early Warning Services, the company behind the money transfer app.
Tells court 'What I did was wrong and I want to apologize for my conduct' Terraform Labs founder Do Kwon has pled guilty to committing fraud when promoting the so-called "stablecoin" Terra USD and now faces time in jail.…
The sophisticated campaign aims to steal credentials of sponsor license holders to facilitate immigration fraud, extortion and other monetization schemes
By video, picture, and voice – the fakers are coming for your money DEF CON While AI was on everyone's lips in Las Vegas this week at the trio of security conferences in Sin City – BSides, Black Hat, AND DEF CON – there were a lot of people using the F-word too: fraud.…
The U.S. Department of Justice charged four Ghanaian nationals for their roles in a massive fraud ring linked to the theft of over $100 million in romance scams and business email compromise attacks. [...]
Four senior members of a Ghana-based criminal network have been indicted for stealing over $100 million through romance scams and BEC frau