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Latest coverage for Scam

Scams use deception to steal money, credentials, or sensitive data, making them a cybersecurity risk for individuals and organizations.

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Scams are deceptive schemes intended to make people surrender money, credentials, sensitive information, or access. In information security, they commonly use phishing messages, impersonation, fraudulent websites, business-email compromise, fake technical support, or malicious attachments. Their defining feature is manipulation: the attacker creates a credible pretext and pressures the target to act before verifying the request.

Security teams should treat scams as an attack surface spanning email, messaging, telephone calls, social media, and payment workflows. Material risks include account takeover through stolen credentials, unauthorized payments, disclosure of personal or company data, and malware execution from deceptive content. Useful controls include phishing-resistant authentication, secure payment-change procedures with independent verification, filtering and domain protections, user training focused on reporting, and rapid review of suspicious messages or transactions. Incident handling may require revoking sessions, resetting credentials, contacting financial institutions, preserving evidence, and notifying affected parties where applicable.

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Bank Info Security 1 year, 4 months ago

Australia's Anti-Scams Bill: What's in It for Victims?

Experts Say Consumers Gain Little as Implementation Challenges Loom for FrameworkAustralia's new scams framework bill sets the foundation for industry action but leaves consumers with limited protections. Experts warn that enforcement and reimbursement mechanisms are unclear, forcing victims to navigate a complex system with little guarantee of compensation.

Bank Info Security 1 year, 4 months ago

Cryptohack Roundup: It's Raining Crypto Fraud

Also: Nigerian Authorities Sue Binance for $79.5 billionThis week, guilty plea in $577M fraud scheme, Nigeria's $79.5B lawsuit, charges in $24M fraud case, $400K Cardex hack, seizure in BitConnect scheme, CluCoin founder sentenced, hacked Phemex funds laundered, Argentina president's fraud charges, new malware for digital wallets and romance scams surge.

Bank Info Security 1 year, 5 months ago

Privacy Constraints Are Keeping Banks From Tackling Scams

M&T Bank's Karen Boyer on Need for Shared Responsibility with Telecoms, Tech FirmsTechnology solutions can help banks fight fraud, but privacy constraints are preventing them from doing an effective job to ferret out scammers, said Karen Boyer, senior vice president at M&T Bank. She supports a new Australian law that also places responsibility on telecom and internet providers.