Info Security Magazine
2 years, 7 months ago
UK Celebrates “World-First” Anti-Fraud Deal With Big Tech
Government says tech firms have pledged to remove malicious content
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Latest coverage for Fraud
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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.
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The Register
2 years, 7 months ago
Rogue ex-Motorola techie admits cyberattack on former employer, passport fraud
Pro tip: Don't use your new work email to phish your old firm An ex-Motorola technician in the US has admitted he tried to fraudulently obtain a passport while awaiting trial for a cyberattack on his former employer.…
Bleeping Computer
2 years, 7 months ago
SIM swapper gets 8 years in prison for account hacks, crypto theft
Amir Hossein Golshan, 25, was sentenced to eight years in prison by a Los Angeles District Court and ordered to pay $1.2 million in restitution for crimes involving SIM swapping, merchant fraud, support fraud, account hacking, and cryptocurrency theft. [...]
The Register
2 years, 7 months ago
UK government rings the death knell for SIM farms
Acts under the guise of protecting the public from fraud, yet history suggests Home Office has other motives The UK government plans to introduce new legislation to ban SIM farms, which it views as a widely abused means for carrying out cyber fraud.…
Info Security Magazine
2 years, 7 months ago
A Fifth of UK SMBs Can’t Spot Scams
Many are failing UK Finance’s new fraud quiz
Info Security Magazine
2 years, 7 months ago
Deepfake Digital Identity Fraud Surges Tenfold, Sumsub Report Finds
AI-powered tools are among the top fraud techniques used by threat actors in 2023, according to Sumsub’s third annual Identity Fraud Report
The Register
2 years, 7 months ago
'Serial cybercriminal and scammer' jailed for 8 years, told to pay back $1.2M
Crook did everything from SIM swaps to fake verified badge scams A Los Angeles man has been jailed after pulling off SIM-swap attacks on victims, hijacking social media accounts, committing fraud with Zelle payments, and impersonating Apple support.…
Bank Info Security
2 years, 7 months ago
How Generative AI Will Reshape the Financial Services Sector
Wipro Americas 2 CEO Suzanne Dann on How Generative AI Can Address Risk, ComplianceGenerative AI can improve operational efficiencies, enhance risk and compliance and elevate the client experience for financial services firms, said Wipro's Suzanne Dann. Wipro embraced generative AI to reduce fraud by spotting anomalous behavior and used synthetic data to test deep learning models.