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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 2 years, 5 months ago

US FTC Proposes Penalties for Deepfake Impersonators

FTC Says It Should Be Able to Sue Providers Who Know Their Tech Is Used for FraudThe U.S. Federal Trade Commission said it's too easy for fraudsters to launch "child in trouble" and romance scams, so it has proposed rule-making that would give the agency new authority to sue in federal court any technology providers that facilitate impersonation fraud.

Bank Info Security 2 years, 5 months ago

Banking Trojan Harvests Facial Biometrics for AI Deepfakes

GoldPickaxe Malware Can Record User’s Face - Use Video to Commit Deepfake ScamsA Chinese-speaking cybercrime group with the codename GoldFactory has built a new Android and iOS banking Trojan, GoldPickaxe, that can harvest and steal personal details, including biometric face profiles, that attackers use to create AI-driven deepfakes to fool bank defenses, researchers warn.

$1.3 billion lost as identity fraud – and greed – saw 57,000 or more seek unearned tax refunds One hundred and fifty people who worked for the Australian Taxation Office (ATO) have been investigated – and some prosecuted – for participating in a tax refund scam promoted on Facebook and TikTok.…

Bank Info Security 2 years, 5 months ago

Apparent Pig-Butchering Crypto Scam Took Down a US Bank

Kansas Bank Forced to Close After CEO Allegedly Embezzled Nearly $50 MillionA watchdog report reveals how Heartland Tri-State Bank CEO Shan Hanes allegedly defrauded a local church and investment club in Kansas out of $47.1 million through a "pig-butchering" cryptocurrency scam that ultimately caused the bank to fail in 2023.