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Bank Info Security 1 month, 1 week ago

Identity Scams Evolve Into Multi-Stage Attacks

Victims Increasingly Face Multiple Compromises From a Single IncidentIdentity theft scams are increasingly unfolding as coordinated, AI-assisted attack chains that begin with phishing or impersonation escalate into account takeovers, device compromise and broader fraud, according to the Identity Theft Resource Center.

Bank Info Security 5 months, 1 week ago

Fake Out: 0APT Data-Leak Ransomware Group Branded a Scam

Bitcoin Joining Fee for Affiliates and No Proven Victims Cited by ResearchersNewcomer ransomware group 0APT is being branded a "likely scam operation," not least after a list of over 200 supposed victims turned out to be bogus, if not entirely AI-generated - never mind a 1 bitcoin joining fee for would-be affiliates and outdated crypto-locking malware.

Apate.ai CEO Dali Kaafar on Turning the Tables on Fraudsters With AI-Powered BotsMajor banks in Australia are now using bots to foil scammers. The bots are designed to pose as potential victims, extract real-time intelligence and waste scammers' resources. The data is then pushed directly into fraud detection systems used by banks, telecom providers and government agencies.

Apate.ai CEO Dali Kaafar on Turning the Tables on Fraudsters With AI-Powered BotsMajor banks in Australia are now using bots to foil scammers. The bots are designed to pose as potential victims, extract real-time intelligence and waste scammers' resources. The data is then pushed directly into fraud detection systems used by banks, telecom providers and government agencies.

Cybersecurity researchers are drawing attention to a new campaign that's using legitimate generative artificial intelligence (AI)-powered website building tools like DeepSite AI and BlackBox AI to create replica phishing pages mimicking Brazilian government agencies as part of a financially motivated campaign

Bank Info Security 1 year, 1 month ago

Fake AI Tools Lure Users in Year-Long Malware Campaign

Mandiant Says Malware Spread Through Fake AI Video Ads Seen by MillionsOnline scammers are converting excitement over generative artificial intelligence into fraudulent sites that infect victims with malware, says threat intel firm Google Mandiant in a report exposing a year-long campaign to distribute infostealers and backdoors.

Bank Info Security 1 year, 1 month ago

Account Takeover Scams Are Bypassing Fraud Defenses

FIs Must Invest in AI-Fueled Behavioral Biometrics to Go Beyond Static CredentialsScammers are increasingly turning to account takeover fraud, as financial institutions ramp up their defenses. Instead of luring victims into making authorized transactions, cybercriminals are bypassing them altogether, hijacking their digital identities and draining accounts from within.

Bank Info Security 1 year, 3 months ago

Breach Roundup: Port of Seattle Notifies 90,000 Victims

Also, Oracle Denies Cloud Breach, Blames Hack on Obsolete ServersThis week, Port of Seattle notified victims, Oracle blamed hack on obsolete servers, Google and Microsoft released April patches, WK Kellogg breached, six arrested in Spain for AI-investment scam, Scattered Spider's "King Bob" pleaded guilty, SmokeLoader users busted.

Cybersecurity researchers are calling attention to a new kind of investment scam that leverages a combination of social media malvertising, company-branded posts, and artificial intelligence (AI) powered video testimonials featuring famous personalities, ultimately leading to financial and data loss

Bank Info Security 1 year, 8 months ago

Deepfake Phone Scams for Less Than a Dollar a Pop

Academics Build AI Agent With OpenAI to Execute Phone Scams at ScaleHackers can use OpenAI's real-time voice API to carry out for less than a dollar deepfake scams involving voice impersonations of government officials or bank employees to swindle victims, said researchers at the University of Illinois Urbana-Champaign.

Bank Info Security 1 year, 9 months ago

Cryptohack Roundup: BingX, Truflation Exploits

Also: Reimbursements in Banana Gun Hack; Germany Shutters 47 ExchangesThis week, BingX, Truflation, OpenAI X account hacked; Germany shut 47 exchanges; Caroline Ellison sentenced; two got crypto theft charges; one got crypto scam fine; Banana Gun will refund victims; WazirX, Liminal in dispute; SEC settled with TrueCoin, TrustToken; CFTC may settle with Mango Markets.

Bank Info Security 2 years, 3 months ago

AI Is Making Payment Fraud Better, Faster and Easier

AI Is Also Making Traditional Scams More Convincing, Warns VisaArtificial intelligence technologies such as generative AI are not helping fraudsters create new types of scams. They are doing just fine relying on the traditional scams, but the advent of AI is helping them scale up attacks and snare more victims, according to researchers at Visa.

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